KEY LINK: card_name – bonus_miles_full annual_fees
Small Business credit cards are a bit of a special animal in the credit card world. Unlike what we call “personal” cards, some cards like the Chase Ink Business Preferred that are tagged as “business” cards do require you to have a business to apply. You’ll be asked for business identifier (SSN or EIN), business income, years in business and other things about your business on your Chase Ink Business Preferred application. I’m lucky to have a couple of businesses, but you might have a business too, even if you don’t think you do. You can often apply just as a sole proprietorship with your own SSN if you don’t have a separate business EIN.
card_name Welcome Offer
The Chase Ink Business Preferred allows you to bonus_miles_full. Those Ultimate Rewards points can easily be worth over $1,000. Chase has recently improved the bonus offer to require a much lower spending amount in order to get the full welcome offer.
These Ultimate Rewards can be transferred to partners such as United Airlines, Southwest Rapid Rewards, Hyatt Hotels, Marriott Bonvoy, Singapore KrisFlyer, and British Airways Avios just to name a few.
card_name Earning Categories
Many credit cards in the market currently have very robust earning charts. However, the Chase Ink Business Preferred keeps it simple and to the point.
- 3 points per dollar on travel
- 3 points per dollar on business expenses (shipping purchases, Internet, cable and phone services, and on advertising purchases made with social media sites and search engines)
- Note that the 3 points per dollar bonus amount is only on the first $150,000 spent each account anniversary year in combined purchases on travel and business expenses
- 1 point per dollar on all other expenses
The Ink Preferred also comes with a variety of different benefits that are super useful, including:
- Primary Car Rental Insurance (when traveling for business) – see How a Chase car insurance claim saved my mom nearly $900
- 25% bonus on your points when redeeming for travel
- Transfer your Ultimate Rewards points to Chase’s hotel and airline travel partners
- The ability to combine Chase Ultimate Rewards points and make your existing URs more valuable
- Various travel insurance benefits, including trip delay, trip cancellation, baggage and accident insurance
- Cell Phone Theft and Damage Protection
- No foreign transaction fees
Other Cards To Consider
If you don’t feel that the Chase Ink Preferred card is right for you, here are a few other cards to consider
- card_name – has a welcome offer lets you bonus_miles_full. You’ll earn 3x category bonuses but only 1x on every day spend and a $95 fee
- card_name – comes with a welcome offer that lets you bonus_miles_full. You’ll earn only 1x on everyday spend and 5x on certain categories and no annual fee. Comparing the Ink Cash to the Ink Business Unlimited will depend on how much of your regular spend is in these bonus categories
- card_name – has a welcome offer lets you bonus_miles. This is a personal card so could be a great option if you don’t want to apply for a business card. It’s one of the cards I recommend for people starting out
The Bottom Line
If you are a small business owner, this card could serve your business well! If you are already collecting Chase Ultimate Rewards, you can combine them with your other Ultimate Rewards, possibly making them even more valuable. Although the welcome offer requires a significant amount of spending, it also gives a big boost to your Ultimate Rewards balance. The benefits are also nice, including primary rental car insurance and the ability to transfer Ultimate Rewards to hotel and airline transfer partners.
What do you think about the Chase Ink Business Preferred card? Leave your thoughts in the comments below
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