Ink Business Preferred® Credit Card: A Comprehensive Guide

The Ink Business Preferred® Credit Card is one of the most sought-after business credit cards on the market, offering an exceptional combination of rewards, benefits, and perks for small business owners and entrepreneurs. Issued by Chase, this card is ideal for those who want to maximize their business expenses with valuable points and enjoy premium travel benefits. Whether you’re managing day-to-day business costs, booking flights for business trips, or looking to earn rewards for personal purchases, the Ink Business Preferred® Credit Card can help you achieve your goals.

In this article, we’ll cover all the essential features, benefits, and how to apply for the Ink Business Preferred® Credit Card.

Key Features of the Ink Business Preferred® Credit Card

1. Rewards ProgramOne of the most compelling reasons to choose the Ink Business Preferred® Credit Card is its robust rewards program. The card allows business owners to earn valuable points on everyday purchases, especially in business-related categories. Here’s how the rewards structure works:
   • 3 points per $1 on the first $150,000 spent in combined purchases at travel, shipping, internet, cable, phone services, and advertising purchases made with social media sites and search engines (such as Google and Facebook) each account anniversary year.
   • 1 point per $1 on all other purchases.
   These rewards can add up quickly, especially for businesses that spend heavily in the categories of travel, shipping, or advertising. The 3x points on travel and advertising makes this card a great option for companies that regularly book flights, hotels, or spend on digital marketing.
2. Welcome BonusThe Ink Business Preferred® Credit Card offers a substantial welcome bonus to new cardholders. As of the latest update, you can earn 100,000 bonus points after spending $15,000 in the first 3 months from account opening. This is one of the most generous sign-up bonuses in the business credit card category, and it can be redeemed for up to $1,250 in travel through the Chase Ultimate Rewards® program. For businesses that make high-ticket purchases or regularly book travel, this bonus can be a significant boost.
3. Chase Ultimate Rewards® ProgramPoints earned with the Ink Business Preferred® Credit Card are redeemable through the Chase Ultimate Rewards® program, which offers flexibility and value. Here’s how you can use your points:
   • Travel: Book flights, hotel stays, car rentals, and other travel services with points through Chase Ultimate Rewards®. Points are worth 25% more when redeemed for travel through the portal, which means your 100,000 points from the sign-up bonus are worth $1,250 toward travel bookings.
   • Transfer Points: You can transfer your points 1:1 to over a dozen travel partners, including major airlines and hotel chains such as United, Southwest, Hyatt, Marriott, and more. This flexibility gives you access to great travel deals and opportunities to maximize your points for premium rewards.
   • Gift Cards & Merchandise: You can also redeem your points for gift cards from popular retailers or for merchandise available through the Ultimate Rewards® portal.
4. Travel BenefitsFor business owners who travel frequently, the Ink Business Preferred® Credit Card provides excellent travel benefits:
   • Trip Cancellation/Interruption Insurance: If your business trip is interrupted or canceled due to unforeseen events, this benefit can help cover costs like flight cancellations, lodging, and meals.
   • Travel Accident Insurance: In case of an accident while traveling for business, you’ll be covered for accidental death or dismemberment.
   • Baggage Delay Insurance: If your baggage is delayed by more than 6 hours on a covered trip, you can receive reimbursement for necessities like clothing, toiletries, and other essentials.
   • Primary Car Rental Insurance: When you rent a car for business purposes using the Ink Business Preferred® card, you get primary rental insurance coverage, meaning you don’t need to rely on your personal auto insurance.
5. No Foreign Transaction FeesMany business owners travel internationally, and one of the most valuable features of the Ink Business Preferred® Credit Card is the absence of foreign transaction fees. This means you can use your card abroad without incurring extra charges on purchases made in foreign currencies, which is a significant cost-saving advantage for international business travelers.
6. Annual FeeThe Ink Business Preferred® Credit Card has an annual fee of $95, which is reasonable given the rewards, benefits, and travel perks it offers. While there are no annual free nights or premium airport lounge access like other premium cards, the rewards points earning potential and travel protections make this fee worthwhile, especially for businesses that spend in the bonus categories.
7. Employee CardsYou can add employee cards to your account at no additional charge. Employees can earn points for purchases made on their cards, allowing your business to earn rewards more quickly. This feature can be particularly valuable for companies with multiple team members who regularly incur business expenses on behalf of the company.

How to Apply for the Ink Business Preferred® Credit Card

Applying for the Ink Business Preferred® Credit Card is a simple and straightforward process. Here are the steps you need to take to get started:

1. Eligibility RequirementsBefore applying, make sure you meet the eligibility criteria:
   • You must have a business (sole proprietorship, LLC, corporation, etc.).
   • You need to provide basic information about your business, such as its legal name, business address, EIN (Employer Identification Number) or SSN (if you are a sole proprietor), and annual revenue.
2. Gather Necessary InformationWhen you apply online, you will be asked for your business details, as well as your personal information (name, address, date of birth, etc.). If you’re a sole proprietor, you may be asked to provide your social security number (SSN).
3. Online Application
   • Go to the official Chase website and find the Ink Business Preferred® Credit Card application page.
   • Fill out the application form, providing all required details. You may be asked to provide your business’s financial information to assess your creditworthiness.
4. Submit the ApplicationOnce you’ve completed the application, review all the information and submit it. In most cases, you will receive an instant approval decision, though sometimes Chase may ask for additional documents to verify your application.
5. Wait for ApprovalAfter submitting your application, Chase will review it, and you will receive a decision typically within a few minutes. If approved, you’ll be sent your card in the mail. Your 100,000 bonus points will be available after meeting the spending requirement of $15,000 in the first 3 months.

Final Thoughts

The Ink Business Preferred® Credit Card is an excellent option for business owners who want to earn generous rewards while enjoying premium travel benefits. With 3x points on key business expenses like travel, shipping, and advertising, along with a large sign-up bonus and flexible rewards redemption, it’s one of the most rewarding business credit cards available today.

While the $95 annual fee may not be the lowest, the value you receive from the points earned, travel protections, and no foreign transaction fees more than justifies the cost. If you frequently spend in the bonus categories, this card can quickly help you rack up points that can be redeemed for flights, hotel stays, or other rewards.

If you’re looking for a business credit card that offers flexibility, high rewards, and travel protections, the Ink Business Preferred® Credit Card is a fantastic choice.