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LendEDU Rating: 4.6/5
Rewards rate: 1x – 3x
Annual fee: $95
Editor’s thoughts: This card offers a great welcome bonus, a high rewards rate that comes with a spending limit, and other benefits to your business
- Good rewards rate in select business categories
- Helps small businesses track everyday expenses with financial tools
- Travel insurance, car rental damage waivers, and cell phone protection
- No foreign transaction fees
- Employee cards are available at no additional cost
- The rewards rate on category spending is capped each year
- The card has a $95 annual fee
Recommended Credit Score
Chase Ink Business Preferred Card: Great for Mid-Sized Businesses
This offering from Chase Bank is designed for the mid-sized business and comes with a great signup bonus and an excellent rewards rate—but only for select business purchase categories. If you have a small business that doesn’t need to make a lot of purchases or do a lot of travel, the card may not be worth it.
In this review:
- Chase Ink Business Preferred Benefits
- Downsides of the Chase Ink Business Preferred Card
- How It Compares to Similar Cards
Chase Ink Business Preferred Benefits
The signup bonus for Chase Ink is excellent—you’ll receive 100,000 bonus points if you spend $15,000 or more during the first three months after account opening. If these points are redeemed through Chase Ultimate Rewards, that’s a $1,250 value.
The card offers 3 points per $1 spent on cable, internet, phone services, travel, shipping purchases, search engines, and social media advertising purchases, on up to $150,000 in purchases each account anniversary year. Everything else earns 1 point per $1 spent.
These points can be transferred at a 1:1 ratio to travel partners, including airlines and hotel lines. But the best way to redeem them is for travel through the Ultimate Rewards portal, as you’ll get a 25% boost to your points’ value.
Travel Rewards and Shopping Perks
Finally, the card comes with the common travel and shopping perks you get with other Chase cards, including:
- Trip cancellation/interruption insurance
- Rental car collision damage waivers
- Roadside dispatch
- Mobile phone insurance
- Extended warranties and purchase protection
Downsides of the Chase Ink Business Preferred Card
As we mentioned, this card isn’t for every type of business. The $95 annual fee can be cost-prohibitive to some small businesses that won’t use the card often, and its everyday one-point-per-dollar rewards rate isn’t great for a paid card.
While it does offer solid triple rewards for certain business spending categories, not all businesses will spend in these areas, which means they’ll miss out on some of the benefits they could be getting.
How It Compares to Similar Cards
Chase Ink Business Preferred is an average business credit card overall. While its signup bonus is top-notch, even other Chase credit cards have better every-day rewards rates or cash back on purchases.
Bottom Line: Is the Chase Ink Business Preferred Card Right for Your Business?
The Chase Ink Business Preferred could be an excellent rewards card for many mid-sized businesses. Before applying, however, make sure that you’ll use the card often enough to pay for the annual fee, and have some use for the rewards points.4.6Chase Ink Business Preferred Card
Author: Jeanette Perez
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