Credit Cards Credit Card Reviews

Chase Ink Business Preferred Review

overall rating
3.9

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The Chase Ink Business Preferred offers a sizable bonus, a high rewards rate on several business-specific spending categories, and potentially lucrative redemption options. It could be a fine choice, particularly if your business expenses align with the card's bonus rewards categories and you’re inclined to redeem your rewards for travel.

Ink Business Preferred℠ Credit Card

Overall Rating
3.9
Ink Business Preferred℠ Credit Card
On Chase's Secured Site.
Current Offer

Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening.

Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 15.99% - 20.99% variable
Annual Fee $95
Rewards Earning Rate Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases.
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.
Cash Advance APR (%) 24.99%
Cash Advance Fee Either $15 or 5% of the amount of each transfer, whichever is greater.
how this card stacks up
When compared among all business cards in our database:
Rewards
Benefits
Low Fees
Security/Customer Experience
Low Interest
worst best

Currently rated one of our

Full Review of Chase Ink Business Preferred

Pros
  • Potentially huge bonus

  • Flexible rewards program

  • High rewards on select business expenses

Cons
  • Low base rewards rate

  • Not a lot of business-related benefits

  • Chase card service to businesses has been below par

Pros Explained

  • Potentially Huge Bonus: You'll earn 100,000 bonus points after you spend $15,000 in the first three months from account opening. That's worth $800 if you pay with points on Amazon.com, $1,000 in cash back or gift cards, or at least $1,250 in travel booked through Chase or through Chase travel partners.  
  • Flexible Rewards Program: While using points to book travel will give you the most value, the card also allows you to redeem them for cash back, gift cards, Apple products, and Amazon.com purchases. You can also transfer rewards to one of 13 airline and hotel loyalty programs, which allows you even more opportunities to maximize your rewards.
  • High Rewards Rate on Select Business Expenses: You'll earn 3 points per dollar on travel, shipping purchases, internet, cable and phone services, and advertising purchases made with social media sites and search engines. If the nature of your business requires you to spend a lot in one or more of these areas, and your vendors accept card payments, you could pile up points quickly and lucratively. According to Investopedia's valuation Chase Ink Preferred’s points are worth one cent apiece when redeemed for cash back, and can potentially be worth much more (up to 2.22 cents each according to our valuation) when redeemed for hotels through Ultimate Rewards. The rate is limited to the first $150,000 spent in all categories combined in each account year. 

Cons Explained

  • Low Base Rewards Rate: All non-bonus spending earns just 1 point per dollar. That’s still worth 1.25 cents per point when redeemed for travel booked through Chase, or potentially even more with transfer partners. But if you don’t spend a lot in the card's bonus categories, most of your spending will earn that lower rate. By comparison, the Capital One Spark Miles, for example, offers 2 miles per dollar on all purchases, and so might be a better fit for some business owners.
  • Not a Lot of Business-Related Benefits: You'll get free employee cards and the chance to build your business credit, but those features are pretty standard for business credit cards. You won’t get much beyond that in terms of other extras to help with your business, such as the expense-management tools offered with some other business cards.
  • Chase Card Service to Businesses Has Been Below Par: Businesses don't necessarily interact with their credit card issuer very often. But when that’s necessary, it's often a matter of some urgency and even stress, and you want a satisfying experience. Unfortunately, that’s less likely to be the case for businesses who deal with Chase than with most other card issuers scored in the J.D. Power Small-Business Credit Card Customer Satisfaction Study. In its 2019 survey, Chase ranks in the lowest group, in a virtual tie with U.S. Bank as the least-satisfying issuer of business credit cards among nine that are scored. Chase’s score of 833 out of 1,000 was 14 points below the national average.

This Card is Best For

  • Avatar for Rewards Strategist Persona
    Seeks to maximize points or miles earnings across spending categories
    Rewards Strategist
  • Avatar for Business Owner Persona
    Earning a primary or side income from a small business
    Business Owner

The Chase Ink Business Preferred is best suited to small businesses whose major expenses include the card's bonus categories. Which is to say to enterprises that spend a lot on travel, run a lot of ad campaigns on social media sites and search engines, or have a large shipping operation. 

That's due not only to the excellent rewards rate for spending in those categories, but to several travel perks the card offers. It will reimburse your business for up to $5,000 in non-refundable expenses if a business trip is canceled due to sickness, severe weather, or other covered situation. And it provides primary coverage for car rentals made to the card. That's a better arrangement than the more-prevalent secondary coverage, which demands that you file with your own car insurance and then covers only what that policy will not. The card also suits those who travel abroad for business, since it charges no foreign-transaction fee.    

An additional consideration is the card's coverage for cell phones. If you have one or more smartphones you bill to the company, the ability to receive up to $600 if any are stolen or damaged could provide peace of mind if not actual savings. 

Chase Ink Business Preferred Bonus

New cardholders will earn 100,000 bonus points after spending $15,000 in the first three months. With the 25% bonus on travel redemptions through Ultimate Rewards, that incentive is worth at least $1,250. That's far more than the size of bonus awarded by many other business credit cards, and represents a 20% return on the required bonus spending amount.

Rewards Earning Details

The card offers 3 points per dollar on up to $150,000 spent each account anniversary year in the following categories:

  • Travel
  • Shipping purchases
  • Internet, cable, and phone services
  • Advertising purchases at social media sites and search engines

If a lot of your expenses fall in one of the card's bonus categories, those rewards are alluring. With the 25% travel redemption bonus, bonus spending delivers a 3.75% rewards rate. 

All other purchases, however, will net you just 1 point per dollar. Those rewards provide a 1.25% rate when redeemed for travel through the Chase portal.

Rewards Redemption Details

The many ways to redeem points earned through the Chase Ink Business Preferred range widely in the value they represent. Here’s a list of your options, along with the value you from each:

  • Shop with points on Amazon.com: 0.8 cents per point
  • Apple Ultimate Rewards store: 1 cent per point
  • Cash back as a statement credit or direct deposit: 1 cent per point
  • Gift cards: 1 cent per point
  • Book travel through Chase: 1.25 cents per point

While using points for cash back gives you less value than redeeming them for travel, it’s important to point out that most travel credit cards give you less than 1 cent per point with that option. So if you really need cash for your business, this is actually a competitive rate. 

But if you can save up your points for a trip—which can be for business or pleasure—take advantage of the Chase travel booking platform to get more value. 

Transferring Points

The Chase Ultimate Rewards platform gives you the chance to book travel with several different airlines and hotels, but if you want more flexibility, consider transferring your points to one of the following partners at a 1:1 ratio:

  • Aer Lingus AerClub
  • British Airways Executive Club
  • Emirates Skywards
  • Flying Blue (Air France and KLM)
  • Iberia Plus
  • JetBlue TrueBlue
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards
  • United MileagePlus
  • Virgin Atlantic Flying Club
  • Hotel Travel Partners
  • IHG Rewards Club
  • Marriott Bonvoy
  • World of Hyatt

Depending on where you move your points, you could potentially get a little to a lot more value out of them in a partner program. For example, Investopedia calculates that, on average, United MileagePlus miles are worth 1.57 cents and World of Hyatt points 1.48 cents. And certain redemptions with these or other partners could yield above-average value. 

How to Maximize Your Rewards

Getting the most from the Chase Ink Business Preferred begins with ensuring you spend at least $15,000 with the card during the first three months, and so qualify to receive its 100,000-point incentive. So generous is that bonus that it’s worth reaching, even if you need to charge expenses that earn only the base rewards rate in order to reach it. During and after that period, be particularly attentive to charging all purchases in bonus categories to the card; these include travel expenses and spending on telecom services, shipping, and online advertising. If you can reach the annual $150,000 spending cap on bonus spending, you'd earn 450,000 points every year on those purchases—which would be worth a whopping $5,625 when used for travel through Chase.

In the absence of other cards that offer better returns, you should also charge all other expenses, even though they earn only the 1 point-per-dollar base rewards rate.     

As for redeeming points, doing so to book travel through Chase Ultimate Rewards is the simplest option that offers above-average returns of 1.25 cents per point. That rate beats cash back, gift cards and the other options for redeeming directly through Chase. You can use the booking platform to compare prices with different airlines, hotel, car rental companies, cruise lines and more. You can even redeem points for travel experiences at your destination.

But if you want to squeeze as much travel value out of your points as possible, and can tolerate additional complexity and work, transferring your points to one of Chase’s travel partners can reap even greater rewards. For example, after transferring points to an airline partner, we found a business-class ticket from Los Angeles to Phuket, Thailand, for 290,000 miles and $1,737 in taxes and fees. In cash, the same ticket would have cost a whopping $11,374. By transferring your rewards and booking an award ticket, you'd have earned 3.32 cents per point—which is almost triple the value of any other redemption option.

But do your homework before settling on this option. Your research should include the terms of such transfers, since a transfer fee may be charged. Also, while most transfers are completed by the next business day, some require up to a week. 

Another way to earn rewards is to refer other business owners to apply for the card. You'll get 20,000 bonus points for each business you refer that gets approved, up to 100,000 points per year.

Chase Ink Business Preferred's Outstanding Benefits

  • Trip cancellation and interruption insurance: If you have a trip that’s canceled due to sickness, severe weather or another covered situation, you can get reimbursed for up to $5,000 in prepaid, nonrefundable travel expenses. 
  • Primary rental-car insurance: If you need to file a claim from a rental for business reasons, the card’s coverage kicks in immediately. With most cards, rental car insurance coverage is secondary, which means that you have to pay the damage before the rental company collects from your personal insurer. Note, however, that coverage is secondary if you’re renting for personal purposes.
  • Cell-phone protection: If you use the card to pay your monthly cell phone bill, you’ll get up to $600 per claim in cell phone protection against damage and theft for you and any employees listed on the bill. You can file up to three claims per 12-month period.

Standard Benefits

  • Roadside dispatch
  • Purchase protection
  • Extended warranty protection
  • Free employee cards
  • Integrate with bookkeeping software

Cardholder Experience

The United Club Business card is issued by Chase, which scored an 833 in J.D. Power's 2019 U.S. Small Business Credit Card Study. This score is below the industry average of 849 for credit-card satisfaction in serving businesses, and is only slightly above that of U.S. Bank, which received the lowest score among the nine issuers ranked for service to businesses.

Anytime you need help with your card, you can call 800-999-6977 to speak to a customer service specialist. You can also access your card via the Chase mobile app.

The bank provides free access to your VantageScore credit score through its Credit Journey program, but anyone can register—you don't need to be a cardholder. Also, it's important to note that many major card issuers offer complimentary access to your FICO score, which is more widely used by lenders than VantageScore.

Chase will report your account activity to the business credit bureaus, which can help you establish a business credit history. The bank won’t report anything other than the initial hard inquiry when you apply to the consumer credit bureaus, unless your account is more than 60 days delinquent. Some other banks, including Capital One and Discover, report all of your account activity on your business credit cards to the consumer credit bureaus, which can affect your personal credit score.

The card issuer provides 24/7 customer service over the phone, which is standard for the credit card industry. You can also choose to send a secure message through your online account (you can read secure messages from the mobile app but not compose new ones).

Security Features

As a Chase cardholder, you can lock and unlock your card through the bank's mobile app, which can come in handy if your card is lost or stolen. While other card issuers offer this feature, it's not standard. 

The card is also contactless-enabled. This means that instead of swiping or inserting your card to pay, you can tap it to a contactless credit card reader. The tap-and-pay feature is faster than using the card's chip but provides the same level of security. It's not available form all national card issuers.

Our Verdict

The Chase Ink Business Preferred is a solid choice for business owners who spend a lot in certain categories, especially if they're savvy at redeeming rewards. Few cards beat this one for the value of its bonus. Additionally, it boasts some standout benefits, including protection for cell phones whose service is charged to the card and primary rental-car insurance, rather than the less valuable secondary insurance that’s the norm for credit cards. 

If your business doesn’t spend much in the card's bonus categories, though, you may not be able to get enough value to justify the $95 annual fee. As with any card, take some time to shop around and compare various options before you apply. As you do that homework, you might also want to keep in mind Chase's mediocre (at best) record when it comes to customer satisfaction with business credit cards.

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For Ink Business Preferred℠ Credit Card
on Chase's Secured Site.
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CURRENT CARD
Ink Business Preferred℠ Credit Card
overall rating
3.9
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 15.99% - 20.99% variable
Annual Fee $95
Rewards Earning Rate Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.