Chase Ink Business Preferred Card

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Chase Ink Business Preferred Card
80K points
80K after $5K spend in 3 months
Click Here

$95 Annual Fee

Recent better offer: This is the best public offer we've seen. A 100K offer is sometimes available in-branch through a Business Relationship Manager.

FM Mini Review: Great card for signup bonus and 3X categories. Also consider the no-fee Chase Ink Cash for its 5X categories, and the no fee Ink Business Unlimited to earn 1.5X everywhere.


Card Type: Visa Signature Business

Earning rate: 3X travel, shipping, internet, cable, phone, and advertising with social media sites (up to $150K spend per year)

Noteworthy perks: ⚬ Points worth 25% more when redeemed for travel ⚬ Cell phone protection against theft or damage

Note: This card is known to be subject to Chase's 5/24 rule.

See also: How to sign up for Chase Ink cards

Overview

The Ink Business Preferred card has a great signup bonus and is a solid choice for many businesses. The card earns valuable Chase Ultimate Rewards points with excellent category bonuses:

  • 3X travel, shipping, internet, cable, phone, and advertising with social media sites (up to $150K spend per year)

Rewards

The card's 3X rewards for travel, shipping, and advertising are excellent -- best in class. But, for internet, cable, and phone you can do better. The no-fee Ink Business Cash card offers 5X rewards for internet, cable, phone, and office supplies. The Ink Business Cash also offers 2X for gas and restaurants. And then there's the no-fee Ink Business Unlimited which offers 1.5X everywhere. I think that for most businesses it makes sense to use all three cards. Points earned on the no-fee cards can be transferred to the Ink Business Preferred to make them more valuable.

With the Ink Business Preferred Card, Ultimate Rewards points can be redeemed as follows:

  • Cash or merchandise (1 cent per point value)
  • Purchase Travel through the Chase Ultimate Rewards travel site (1.25 cents per point value)
  • Purchase Travel after moving points to the Chase Sapphire Reserve card (1.5 cents per point value)
  • Transferred to a variety of airline and hotel programs (per point value varies from very low to extremely high when points are used this way)
Chase Ultimate Rewards points are super valuable and super flexible. At the most basic level, points can be redeemed for cash or merchandise, but you'll only get one cent per point value that way. A better option is to use points for travel. When points are used to book travel through the Ultimate Rewards portal, points are worth 1.25 cents each with premium cards (Sapphire Preferred or Ink Business Preferred, for example) or 1.5 cents each with the ultra-premium Sapphire Reserve card. Another great option is to transfer points from a premium or ultra-premium card to an airline or hotel program when high value awards are available (see this post for details). If your points are tied to a no-fee "cash back" Ultimate Rewards card, then first move those points to a premium or ultra-premium card before redeeming them in order to get better value.

Perks

The card offers cell phone protection: Get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Chase Ink Business Preferred credit card.

Application Tips

Chase Application Tips


  • Shut-Down Caution: Signing up for new Chase cards can lead to Chase reviewing your accounts. This may lead to Chase shutting down all of your accounts if you have opened many cards in the past 12 months (10+ cards) and/or if your total credit available across banks far exceeds your annual income.

  • 5/24 Rule: With most Chase cards, you won't get approved if your credit report shows 5 or more cards opened in the past 24 months. Details here.

  • 24 Month Rule: You can get the same card and bonus again 24 months after having received the bonus as long as you no longer have the card open (24 month wait is not required for Ink business cards)

  • 30 Day Rule: It is tough to get approved for more than 2 Chase cards within 30 days

  • Better Offers: You may be able to get a better offer than the best available public offer. Details here.

  • Hard inquiries combine into 1 when approved same day (not always true when mixing business and personal)

Call (888) 338-2586 to check your application status
If denied, call reconsideration here:1-888-270-2127 for both personal and business cards;
or 800-527-7415 for the Ritz card


This card is subject to 5/24, and you must have a business to apply. Unlike many other Chase cards, though, you CAN get the bonus on this card again even if you still have the same card open and/or received the bonus within 24 months.
Chase's 5/24 Rule: With most Chase credit cards, Chase will not approve your application if you have opened 5 or more cards with any bank in the past 24 months. Some exceptions that are NOT subject to the 5/24 rule include: British Airways, Hyatt, IHG, Iberia, Aer Lingus, Marriott Business, and Ritz Carlton.

To determine your 5/24 status, see: 3 Easy Ways to Count Your 5/24 Status.
Applying for Business Credit Cards

Yes, you have a business: In order to sign up for a business credit card, you must have a business. That said, it's common for people to have businesses without realizing it. If you sell items at a yard sale, or on eBay, for example, then you have a business. Similar examples include: consulting, writing (e.g. blog authorship, planning your first novel, etc.), handyman services, owning rental property, renting on airbnb, driving for Uber or Lyft, etc. In any of these cases, your business is considered a Sole Proprietorship unless you form a corporation of some sort.

When you apply for a business credit card as a sole proprietor, you can use your own name as your business name, use your own address and phone as the business' address and phone, and your social security number as the business' Tax ID / EIN. Alternatively, you can get a proper Tax ID / EIN from the IRS for free, in about a minute, through this website.

Is it OK to use business cards for personal expenses? Legally, it's fine. And, anecdotally, almost everyone I know uses business cards for personal expenses. That said, the terms in most business card applications state that you should use the card only for business use. Also, some consumer credit card protections do not apply to business cards. My advice: don't use the card for personal expenses if you're not comfortable doing so.

If your application is denied: Call Chase’s reconsideration line to ask them to reconsider the decision. If you find that they denied you due to having opened 5 or more cards in the past 24 months, then make sure they are not counting any authorized user cards in your name. You may have to talk to a supervisor to get this done.

Another option is to ask your Chase banker in-branch to submit a special reconsideration form for you. Details about this form can be found here: Chase Special Consideration [Now for business cards only].

How to Meet Spend Requirements

Once you are approved for this card, you have three months to meet the required spend in order to get the signup bonus. With Chase, they’ll often actually give you more time: up to 115 days. If you think you’ll need more than 3 months to get it done, I recommend contacting Chase through secure message to ask for an exact date by which you must complete the spend.

You’re not supposed to use business credit cards for personal purchases, but it is quite common to do so. If you feel comfortable doing so, use the new card for all of your usual spend.

If your usual spend isn’t enough, consider paying a small fee to use your card to pay bills that can’t usually be paid by credit card, or to pay taxes, etc. See this post for many options for increasing credit card spend.

Keep or Cancel?

If you earn Ultimate Rewards points through this card or others, it makes sense to always keep a premium card (like this one) so that points can be transfered to loyalty programs or can be used for better than 1 cent per point value towards travel. If you have another premium Ultimate Rewards card and don't want to pay the annual fee on this one, I recommend calling Chase to see if you can product change to the no-fee Ink Business Cash or Ink Business Unlimited. This way your points will be preserved and you will have the option to product change back to this card in the future if you need to.

Related Cards (Ultimate Rewards)

Chase Ink Business Preferred Card
80K points
80K after $5K spend in 3 months

$95 Annual Fee

Recent better offer: This is the best public offer we've seen. A 100K offer is sometimes available in-branch through a Business Relationship Manager.

Chase Sapphire Preferred Card
55K points
55K: 50K after $4K spend in the first 3 months + 5K after adding an AU and making a purchase

No Annual Fee First Year, Then $95

Chase Ink Business Unlimited
50K points
50K after $3K spend in 3 months

$0 Annual Fee

Chase Ink Business Cash Credit Card
50K points
50K after $3K spend in 3 months

$0 Annual Fee

Recent better offer: None. This is the best we've seen.

Chase Sapphire Reserve Card
50K points
50K after $4K spend in 3 months

$450 Annual Fee

Recent better offer: 100K after $4K spend in 3 months, last seen 3/11/2017 in-branch

Chase Freedom Unlimited
Up to 17.5K points
17.5K: 15K after $500 spend in 3 months + 2.5K for adding authorized user

$0 Annual Fee

Chase Freedom®
Up to 17.5K points
17.5K: 15K after $500 spend in 3 months + 2.5K for adding authorized user

$0 Annual Fee

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Greg The Frequent MilerMike AkayexelateNick ReyesCW Recent comment authors

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[…] from premium Chase Ultimate Rewards cards including Sapphire Reserve, Sapphire Preferred, and Ink Business Preferred.  If you have points in a no-fee card, you can move those points first to a premium card account […]

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[…] Chase Ink Business Preferred: 80K points after $5K spend […]

CW
Guest
CW

Has anyone used the cell phone insurance? I’m curious about the “you and your employees listed on the bill” language. Does that mean if my kid’s phone is on the account it won’t be covered? what do we need to do to prove someone is an employee?

Nick Reyes
Editor

I haven’t ever used the insurance. I believe the language you’re referring to means that the person would need to be an authorized user (employee) on your Ink card.

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[…] supply stores.  Recently Chase discontinued the similar Ink Plus Business Card in favor of the new Ink Business Preferred Card (which has 3X categories), so it seems likely that they’ll eventually do the same to this […]

kayexelate
Guest
kayexelate

How long will the Business Ink 80k offer be around for?

I want to apply for that AND the Citi® Platinum Select AAdvantage® World MasterCard which seems to be a limited time offer for 60k.

I was leaning toward applying for the Citi® Platinum Select AAdvantage® World MasterCard first since that offer may go away for the 60k bonus, but not sure if the Business Ink 80k will disappear too.

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[…] To Bypass Chase 5/24.”  I was intrigued.  I wanted to get Chase’s new Ink card: the Ink Business Preferred for it’s 80K signup bonus and 3X categories, but I was way over 5/24 (Chase won’t […]

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[…] partners with Chase Ultimate Rewards, I could alternatively use cards like the Chase Ink Cash or Ink Business Preferred or the CSR to generate points in bonus categories that are greater than 2x. But here’s the […]

Mike A
Guest
Mike A

“you CAN get the bonus on this card again even if you still have the same card open and/or received the bonus within 24 months.”

Is this verified? The terms on the application page state explicitly:

“I understand that any new cardmember bonus offers for this product are not available to either current or previous cardmembers of this product who received a new cardmember bonus for this product in the last 24 months.”