Ink Business Preferred® Credit Card: A Powerful Tool for Business Rewards

The Ink Business Preferred® Credit Card from Chase is a premier business credit card designed to help entrepreneurs, small business owners, and freelancers maximize their spending power while earning valuable rewards. With its impressive bonus categories, generous sign-up offer, and robust travel benefits, this card is a top contender for anyone looking to optimize their business spending and earn significant rewards.

In this article, we’ll break down everything you need to know about the Ink Business Preferred® Credit Card, including its key features, benefits, and the application process.

Key Features of the Ink Business Preferred® Credit Card

1. Sign-Up Bonus
   The Ink Business Preferred® Credit Card offers an incredible sign-up bonus of 100,000 points after you spend $15,000 on purchases within the first 3 months of account opening. These points can be redeemed for a wide range of rewards, including travel, cashback, and gift cards, making it one of the best rewards cards for businesses.
2. Rewards Structure
   One of the standout features of the Ink Business Preferred® Credit Card is its generous rewards program. Cardholders earn:
   • 3 points per $1 on the first $150,000 spent in combined purchases at travel, shipping, internet, cable, and phone services, and advertising purchases made with social media sites and search engines each account anniversary year.
   • 1 point per $1 on all other purchases.
   With such a high rewards rate in popular business categories, you can earn significant rewards that can be used to reduce costs or fund your business’s growth.
3. Point Redemption Options
   Points earned with the Ink Business Preferred® Credit Card are highly versatile. You can redeem your points through Chase Ultimate Rewards for travel, gift cards, or cash back. The points are particularly valuable when redeemed for travel through Chase Ultimate Rewards, as they are worth 25% more when used for travel bookings (e.g., flights, hotels, and car rentals).Additionally, you can transfer your points to Chase’s partner airlines and hotel programs at a 1:1 ratio, which opens up opportunities for even more valuable redemptions. Some of the partners include:
   • United Airlines
   • Southwest Airlines
   • British Airways
   • Marriott Bonvoy
   • Hyatt
4. Annual Fee
   The annual fee for the Ink Business Preferred® Credit Card is $95, which is quite reasonable given the rich rewards structure and sign-up bonus. If your business spends heavily on travel, advertising, or shipping, the value of the rewards will far exceed the annual fee.
5. Purchase Protection and Insurance
   This card comes with several valuable protections and insurance benefits, including:
   • Trip Cancellation/Interruption Insurance – If your trip is canceled or interrupted for a covered reason, you may be reimbursed for non-refundable expenses.
   • Primary Rental Car Insurance – When you use your Ink Business Preferred® Credit Card to pay for a rental car, you’re covered by primary insurance for damage or theft.
   • Purchase Protection – Protects your new purchases for 120 days against damage or theft, up to $500 per claim and $50,000 per account.
   These protections can help save your business money on unforeseen expenses.
6. No Foreign Transaction Fees
   For businesses that travel internationally, the Ink Business Preferred® Credit Card comes with no foreign transaction fees, making it a great choice for international business trips or purchases from overseas suppliers.

How to Apply for the Ink Business Preferred® Credit Card

Applying for the Ink Business Preferred® Credit Card is straightforward, and the process can be done online in just a few minutes. However, before applying, it’s essential to ensure that your business meets the eligibility requirements.

Eligibility Requirements

• Business Type: The Ink Business Preferred® Credit Card is designed for small businesses, freelancers, sole proprietors, and other business owners. Even if you’re a sole proprietor, you can apply for this card.
• Business Revenue: While there is no specific revenue requirement, the card is ideal for businesses with significant monthly expenses (especially in travel, shipping, and advertising) who can maximize the card’s rewards categories.
• Credit Score: Chase generally requires applicants to have a good to excellent credit score (around 700 or higher) to be approved for the Ink Business Preferred® Credit Card. The credit limit may vary based on your business’s financials and creditworthiness.

Steps to Apply

1. Visit the Chase Website
   Go to the official Chase website and search for the Ink Business Preferred® Credit Card page. Here you’ll find an overview of the card, its features, and the application form.
2. Fill Out the Application Form
   Complete the online application form with your business information, including:
   • Business name and address
   • Type of business (sole proprietorship, LLC, corporation, etc.)
   • Business tax ID number (EIN) or your Social Security number if you’re a sole proprietor
   • Estimated annual business revenue
   • Your business phone number and email address
3. Submit the Application
   After filling out the form, review the information and submit your application. Chase will conduct a hard inquiry on your credit, so be aware that this may impact your credit score temporarily.
4. Wait for Approval
   If you meet the eligibility criteria, you should receive a decision within a few business days. If approved, you will receive your Ink Business Preferred® Credit Card in the mail.

Maximizing Your Ink Business Preferred® Credit Card Rewards

To get the most out of your Ink Business Preferred® Credit Card, you’ll want to focus on the card’s bonus categories. Here are some tips to help you earn as many points as possible:

1. Use the Card for Travel and Advertising Purchases
   Take advantage of the 3 points per $1 spent on travel and advertising purchases. If your business spends a lot on digital advertising (e.g., Google Ads, Facebook Ads) or travel, you’ll quickly accumulate points that can be redeemed for valuable rewards.
2. Combine with Other Chase Cards
   If you have other Chase cards (such as the Chase Sapphire Preferred® or Chase Sapphire Reserve®), you can combine your points through the Chase Ultimate Rewards program, which gives you even more flexibility with redemptions.
3. Pay Attention to the Spending Limit
   The 3 points per $1 rate applies to the first $150,000 spent in combined categories each year. Once you hit that threshold, you’ll earn 1 point per $1 spent on those categories, so plan accordingly to maximize the high rewards rate.

Final Thoughts

The Ink Business Preferred® Credit Card is an excellent choice for business owners who want to earn valuable rewards on their everyday business expenses. With its generous rewards structure, impressive sign-up bonus, and travel benefits, it provides significant value for businesses that spend heavily in certain categories like travel, shipping, and advertising.

The $95 annual fee is reasonable given the rewards and protections the card offers, and the no foreign transaction fees and purchase protections make it an excellent option for business owners who travel or make large purchases. If you’re a small business owner looking to maximize your rewards, the Ink Business Preferred® Credit Card is definitely worth considering.