Ink Business Preferred Credit Card: Maximize Business Benefits

The Ink Business Preferred Credit Card is a great choice for business owners who want to make the most of their everyday spending. You’ll earn valuable rewards in categories like travel, shipping, and advertising, and you have the flexibility to redeem your points.

With no foreign transaction fees, this card is ideal for international purchases. You can also easily track expenses for employee cards using mobile and online tools.

The card offers strong purchase and travel protections, helping you manage expenses and build your business credit. Moreover, new cardholders can take advantage of a generous welcome bonus after meeting the initial spending requirement.

Designed to help your business grow, the Ink Business Preferred Credit Card stands out for its flexibility and overall value.

If you’re looking to maximize rewards and protect your business, this card is definitely worth considering. See how it can help you achieve your business goals and simplify your daily operations.

How does the Ink Business Preferred Credit Card work?

The Ink Business Preferred Credit Card helps business owners manage and grow their companies more efficiently. By keeping your business and personal expenses separate, it makes tax season and accounting much simpler.

You can easily track spending, view statements, and access detailed reports online or through the mobile app, so you always have a clear picture of your business finances.

A standout feature of this card is the ability to set individual spending limits for each employee card. This gives you greater control over company expenses and helps prevent overspending. Plus, every purchase made with employee cards adds to your rewards balance, helping you earn points even faster.

With flexible redemption options through Chase Ultimate Rewards, you can use your points for travel, cash back, or even Apple products. Additionally, your points never expire as long as your account is open, so you can save them up.

Another great perk is the great point transfer to top travel partners, letting you get even more value by moving your points to leading airline and hotel loyalty programs. If your business involves frequent travel, this feature can lead to significant savings.

The Ink Business Preferred Credit Card also helps you build your business credit. Using the card responsibly can strengthen your company’s credit profile, making it easier to secure financing down the road. You’ll also benefit from security features like fraud alerts and purchase protection, giving you extra peace of mind.

Applying for this card can help you streamline your business spending and take advantage of tools that support your company’s growth. With its flexible features and strong protections, it’s a smart choice for many business owners.

What are the main advantages of the Ink Business Preferred Credit Card?

• Generous Welcome Bonus: Earn 90,000 bonus points after spending $8,000 in the first three months. You can redeem this bonus for travel, cash back, or gift cards through Chase Ultimate Rewards.
• High Rewards on Key Business Categories: Get three points per dollar on the first $150,000 spent each year in combined purchases on travel, shipping, internet, cable, phone services, and advertising with social media or search engines.
• Valuable Travel Benefits: Enjoy no foreign transaction fees, making the card ideal for international business travel. You can also transfer points at a 1:1 value to top airline and hotel loyalty programs.
• Comprehensive Purchase and Travel Protections: Benefit from coverage for trip cancellations, interruptions, and auto rental collisions. The card also offers cell phone protection when you pay your bill with it.
• Easy Employee Spending Management: Issue employee cards at no extra cost and set individual spending limits. This helps you control expenses, earn rewards faster, and keep your business finances organized and secure.

Disadvantages

• $95 Annual Fee: The card charges a $95 annual fee, which might be a concern for small businesses. Unlike some competitors, there are no annual statement credits to help offset this cost.
• High Spending Requirement for Welcome Bonus: To earn the 90,000-point welcome bonus, new cardholders must spend $8,000 within the first three months. This spending threshold may be challenging for smaller businesses to meet.
• Annual Cap on Bonus Categories: You’ll earn three points per dollar in select categories only up to $150,000 in combined purchases each year. After hitting this cap, all purchases earn just one point per dollar.
• Lack of Premium Travel Perks: The card doesn’t include premium travel benefits like airport lounge access or travel credits, which some other business cards offer.
• No Introductory 0% APR: There’s no introductory 0% APR offer on purchases. This may not be ideal for businesses that want to finance large purchases over time.

Fees and commissions of the Ink Business Preferred Credit Card

The Ink Business Preferred Credit Card comes with a $95 annual fee that isn’t waived for the first year. However, you won’t pay any foreign transaction fees, so you can use the card abroad without extra charges.

The regular APR for purchases and balance transfers is variable, ranging from 19.99% to 25.99%, depending on your creditworthiness. Moreover, if you take out a cash advance, you’ll pay either $15 or 5% of the transaction amount, whichever is greater.

Balance transfers also come with a fee—either $5 or 5% of the transfer amount, whichever is higher. There’s no introductory 0% APR offer for purchases or balance transfers.

Additionally, if you make a late payment, you could be charged up to $40, and returned payments can also result in a fee of up to $40.

On the plus side, you can get employee cards at no extra cost, making your business expenses easier to manage. The card doesn’t provide annual statement credits or other direct ways to offset the annual fee.

Requirements and eligibility criteria

• You need to have a registered business to qualify. This can be a sole proprietorship, LLC, corporation, or even a side business.
• Applicants must be at least 18 years old and a U.S. resident with a valid Social Security Number or Employer Identification Number (EIN).
• Chase generally looks for a good to excellent personal credit score, typically 700 or higher.
• Your business should have a physical address in the United States, and you’ll need to provide details like the legal business name, type of business, years in operation, and annual revenue.
• Even if your business is new or small, you can still apply as long as you have a legitimate business purpose.
• Chase will ask you for personal financial information, including your income and monthly housing payment.
• Chase may review your credit history, current debts, and recent credit inquiries as part of the application process.
• If you already have several Chase credit cards, keep in mind the “5/24 rule,” which may make approval harder if you’ve opened five or more credit cards in the last 24 months.

Meeting these requirements doesn’t guarantee approval, but it does improve your chances. Be sure all your information is accurate and up to date before you apply.

How to get an Ink Business Preferred Credit Card?

1. Gather Required Information: Prepare your business details, such as legal name, address, type, and annual revenue. You’ll also need your Social Security Number and Employer Identification Number (EIN), if available.
2. Visit the Chase Website: Access the official Chase website and navigate to the Ink Business Preferred Credit Card application page.
3. Complete the Online Application: Fill out the application form with your personal and business information. Double-check all details for accuracy.
4. Review Terms and Conditions: Carefully read the card’s terms, including fees, interest rates, and rewards program details. Make sure you understand all obligations.
5. Submit Your Application: Once you’ve reviewed everything, submit your application online. Chase will process your information and may perform a credit check.
6. Wait for a Decision: You may receive an instant decision, but sometimes Chase needs more time to review your application.
7. Receive Your Card: If approved, you’ll get your Ink Business Preferred Credit Card by mail, usually within 7–10 business days.
8. Activate and Start Using: Activate your card by following the instructions provided. You can then start making purchases and earning rewards.

Conclusion

Chase’s Ink Business Preferred Credit Card stands out as a strong choice for business owners seeking valuable rewards, flexible points, and robust travel protections.

Its main advantages include a generous welcome bonus, high rewards on business spending, and comprehensive purchase coverage.

While the card does have an annual fee and some spending requirements, its benefits can easily outweigh the costs for many businesses.

The application process is straightforward, but you must meet Chase’s eligibility criteria, including having a registered business and a good credit score.

Frequently Asked Questions

If you’re ready to elevate your business spending and maximize rewards, visit the Chase website below to learn more or apply.