Ink Business Preferred review: A travel rewards powerhouse for certain businesses

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The Ink Business Preferred® Credit Card offers valuable rewards for businesses with significant travel, advertising, and telecommunications expenses. It offers 3X points on these categories (up to $150,000 annually).

Points value depends on how you use it, but frequent travelers will benefit the most. You can transfer points to travel partners at a 1:1 ratio or receive a 25% bonus when redeeming points for travel through Chase Travel℠.

The card also features a generous welcome bonus, free employee cards, and a slew of travel and purchase protections.

How the Ink Business Preferred Card works

The Chase Ink Business Preferred Credit Card is a great tool for businesses looking to earn valuable rewards on their expenses while enjoying travel and purchase protections. Here are the key things to know about this card:

• Rewards: 3X points on the first $150,000 spent on travel and select business categories each account anniversary year (then 1X points), 1X points on all other purchases 
• Welcome bonus: Earn 90,000 bonus points after spending $8,000 on purchases in the first three months from account opening 
• Annual fee: $95
• Introductory APR offer: N/A
• Redemption options: You can redeem points for travel (25% bonus when booking via the Chase Travel℠ portal), cash back, gift cards, statement credits, or direct deposit. 
• Additional benefits: Free employee cards, comprehensive travel protections, cell phone protection, purchase protection, cash flow management tools, and no foreign transaction fees. 

Ink Business Preferred Card rewards

The Ink Business Preferred Card offers rewards tailored to business owners who spend heavily in certain categories (up to a certain annual limit). This card is a good option if you want to use points to book business travel and enjoy well-rounded protections. 

Earning rewards

One of the standout features of the Ink Business Preferred Card is its bonus categories. Cardholders earn 3X points on the following:

• Shipping purchases
• Online advertising purchases (social media and search engines)
• Internet, cable, and phone services
• Travel

This 3X points multiplier can be particularly advantageous for businesses that allocate a significant portion of their budget to these categories. For example, if your company spends $50,000 annually on online advertising and $25,000 on travel, you would earn 225,000 points (worth $2,250 when redeemed for travel through Chase Ultimate Rewards) from these categories alone.

However, it's important to note that the 3X earning rate is capped at $150,000 in combined purchases across these categories per account anniversary year. Once you exceed this threshold, you'll earn 1X points on these categories. This limitation may be a drawback for larger businesses with substantial expenses in these areas.

Some other business cards offer more straightforward rewards. For instance, the Capital One Spark Cash Plus Card provides unlimited 2% cash back on all purchases without category restrictions or spending caps. This card offers 5% cash back on hotels and rental cars booked through Capital One Travel.

To maximize your earnings with the Ink Business Preferred, it's essential to align your spending with the bonus categories. If a significant portion of your business expenses falls outside these categories, you may find more value in a card with a higher flat-rate rewards structure.

Redeeming rewards

The Chase Ink Business Preferred Card offers a variety of redemption options, giving you the flexibility to use your points in a way that best suits your business needs. Redemption options include: 

• Travel: When you redeem your points for travel purchases through the Chase Travel℠ portal, their value increases by 25%. This means that 100,000 points are worth $1,250 when used for flights, hotels, car rentals, and cruises booked through the portal.
• Cash back and gift cards: Points can be redeemed for cash back or gift cards at 1 cent per point. For example, 50,000 points would equate to $500 in cash back or gift card value.
• Statement credit or direct deposit: You can also use your points to pay for part or all of a purchase made with your card or have them deposited directly into your bank account. As with cash back and gift cards, points are worth 1 cent each when redeemed this way.

One notable feature of the Ink Business Preferred Card is the ability to transfer points to other eligible Chase cards. This can be advantageous if you have multiple Chase cards with different redemption options or bonus categories, allowing you to maximize the value of your points across all your accounts.

Unlike some other rewards programs, points earned with this card do not expire as long as your account remains open and in good standing. However, you may forfeit your points if your account is closed voluntarily or by Chase due to misuse, fraudulent activity, or other cardholder agreement violations.

Ink Business Preferred Card benefits

In addition to its robust rewards, the Ink Business Preferred Card offers a range of benefits designed to support and protect your business. 

Sign up bonus

The Ink Business Preferred Card offers a generous sign-up bonus for new cardholders, provided they meet the steeper spending requirement.

You can receive 90,000 bonus points if you spend $8,000 within the first three months after account opening. That’s worth $900 when redeemed for cash back or $1,125 when redeemed through the Chase Travel℠ portal.

This is one of the higher sign-up bonuses on the market — though the timeframe to reach the spending threshold is fairly steep. 

Additional perks 

Beyond the sign-up bonus, the Ink Business Preferred Card offers a suite of additional benefits that can help you manage and grow your business. 

• Employee cards: You can issue employee cards at no additional cost and set individual spending limits for each card. This feature lets you control your company's expenses and streamline expense tracking and reporting.
• Business insights: Chase offers a range of tools to help you monitor your cash flow and gain insights into your business's financial health. 
• Travel insurance: If your travel plans are canceled or cut short due to covered reasons, you can receive reimbursements of up to $5,000 per person and $10,000 per trip for non-refundable expenses.
  Auto rental collision damage waiver: To receive coverage against theft and collision damage for most cars in the U.S. and abroad, decline the rental company's collision insurance and charge the entire rental cost to your card.
• Cell phone protection: Enjoy up to $1,000 in coverage per claim against covered theft or damage for your cell phone and your employees' cell phones when you pay the monthly service bill with your card. A $100 deductible applies per claim, and you can file up to three claims every 12 months.
• Purchase protection: Safeguard your new purchases against damage or theft for 120 days, with coverage of up to $10,000 per claim and $50,000 per account.
• Extended warranty protection: Extend eligible manufacturer warranties of three years or less by an additional year, providing extra coverage for your business purchases.

While the Ink Business Preferred does provide some important travel and purchase protections, it is missing a few notable travel perks, including airport lounge access and travel credits. Some other business cards, like the American Express® Gold Business Card, have higher travel insurance claim limits.

Ink Business Preferred Card fees & charges

The Ink Business Preferred Card has several fees to keep in mind. Here’s what you can expect.

Annual fee

The Ink Business Preferred Card has an annual fee of $95 — quite reasonable compared to other business cards with similar benefits. For example, the American Express®Gold Business Card has an annual fee of $375, while the Capital One Spark Cash Plus charges $150 annually. See rates and fees. 

It's important to note that, unlike some other business cards, the Ink Business Preferred Card does not offer a way to waive the annual fee based on spending. For instance, the Capital One Spark Cash Plus Card waives its $150 annual fee if you spend at least $150,000 annually on the card.

To determine whether the Ink Business Preferred Card's annual fee is worth it, consider the value of the rewards you can earn based on your spending habits. The annual fee may be justified if you can take full advantage of the card's bonus categories and travel perks.

Interest rates

The Ink Business Preferred Card has an interest rate range of 20.74% to 26.74% Variable for purchases and balance transfers, depending on your creditworthiness. This APR range is fairly standard among business credit cards.

Unlike other Chase business cards, the Ink Business Preferred Card does not offer an introductory 0% APR period for purchases or balance transfers. If you tend to carry a balance on your business credit card, the lack of an intro APR offer may make the Ink Business Preferred Card less appealing. 

Other fees

In addition to the annual fee and interest rates, the Ink Business Preferred Card has a few other fees to keep in mind:

• Balance transfer fee: 5% of the transferred amount or $5, whichever is greater
• Cash advance fee: 5% of the cash advance amount or $15, whichever is greater
• Late payment fee: Up to $40
• Returned payment fee: Up to $40
• Foreign transaction fee: None

One standout feature of Ink Business Preferred is its lack of foreign transaction fees. This can be a significant benefit for businesses that make international travel or purchases. 

Another unique aspect of the Ink Business Preferred is the option to enroll in the Chase Pay Over Time feature. This allows you to pay a monthly fee of up to 1.72% of each eligible purchase transaction in exchange for waiving interest charges. This can be an option for businesses that need extra flexibility in their payments. 

How the Ink Business Preferred Card compares

To help you determine whether the Chase Ink Business Preferred Card is the best choice for your business, let's compare it to two popular alternatives. 

Ink Business Preferred Card vs. Capital One Spark Cash Plus Card 

The Capital One Spark Cash Plus Card is a strong contender for businesses that prefer cash back rewards over points. The Spark Cash Plus Card offers unlimited 2% cash back on all purchases. While it doesn’t offer bonus categories like the Ink Business Preferred, its base earning rate is higher, with no spending limits. 

The Spark Cash Plus Card has a $150 annual fee (waived if you spend $150,000 or more annually), while the Ink Business Preferred Card has a $95 annual fee.

Another key difference is that the Spark Cash Plus card is a charge card, which means you’ll need to pay your entire balance off every billing cycle. 

If your business has significant expenses in the Ink Business Preferred Card's bonus categories, you may earn more rewards with this card. However, if your spending is more varied or you prefer the simplicity of cash back, the Spark Cash Plus Card may be a better fit.

Ink Business Preferred Card vs. American Express® Business Gold Card

The American Express Business Gold Card is another popular choice for businesses. For a higher annual fee, it offers more lucrative rewards and benefits. 

With the Gold card, you’ll earn 4X points on your top two selected categories (from a list of six) each month, up to $150,000 in combined purchases annually. You’ll also earn 3X Membership Rewards® points on eligible travel purchases and 1X on general purchases. That’s more rewarding than the Ink Preferred. 

The Business Gold Card has a higher annual fee of $375, compared to the Ink Business Preferred Card's $95 fee. See rates and fees. 

Who should consider the Chase Ink Business Preferred Card?

The Chase Ink Business Preferred Card is optimal for business owners who travel often and spend heavily in certain business categories.

If a significant portion of your business expenses fall into the card's 3X points categories, you can quickly rack up rewards points. The card's travel insurance and other protections can also provide significant value.

Plus, the Ink Business Preferred Card allows you to add employee cards at no additional cost and set individual spending limits for each card, making it easy to manage your team's expenses.

On the other hand, businesses that don't spend much in the card's bonus categories or those that prefer straightforward cash back rewards may find other cards more appealing. Additionally, if your business requires a 0% APR period to finance large purchases or pay off existing debt, the Ink Business Preferred Card may not be the best fit, as it does not offer this benefit.

How we rated this card

Every credit card review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity.

We rate all credit cards on a 10-point system, with 10 being the highest possible score and 1 being the lowest possible score. We assess each card across several key factors, weighted based on what our research shows matters most to readers like you. Learn more about our methodology here. 

The bottom line

The Ink Business Preferred Credit Card excels in its rewards structure for certain business expenses, redemption flexibility, and travel-focused benefits. Its main weaknesses are the cap on bonus category spending and the lack of an introductory APR offer. 

The card is best suited for small to medium-sized businesses that spend heavily on travel, advertising, and telecommunications and can take advantage of the travel rewards and protections. Businesses with high everyday expenses outside the bonus categories or those wanting an intro APR offer might want to consider other options.

Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.