Ink Business Preferred Credit Card: A Small Business Powerhouse

• Pros:
• Generous welcome bonus that can be worth over $2,000 in travel
• Excellent 3X bonus categories on common business expenses
• Points are part of the valuable Chase Ultimate Rewards program
• Solid travel insurance and cell phone protection

• Cons:
• $95 annual fee, though it's modest for a business card
• No airport lounge access
• Spending cap on the 3X bonus categories

The Chase Ink Business Preferred currently offers a sign-up bonus of 100,000 Ultimate Rewards points after you spend $8,000 on purchases in the first three months of opening your account. This is a fantastic offer. Experts value Chase Ultimate Rewards points, and 100,000 points are worth $1,250 when redeemed for travel through the Chase portal. They can be worth even more if you transfer them to one of Chase's airline or hotel partners. More details on that below. For a card with a $95 annual fee, this is a very strong welcome bonus that can provide a lot of value right from the start.

Beyond the rewards, the Ink Business Preferred comes with a suite of benefits that can be very valuable for a small business. One of the best perks is the cell phone protection. If you pay your monthly cell phone bill with the card, you get up to $1,000 per claim in protection against covered theft or damage for you and your employees listed on the bill. You can make up to three claims per year, with a $100 deductible per claim. This benefit can save you a lot of money if you or an employee has a mishap with a phone.

The card also has a solid set of travel protections. You get trip cancellation and interruption insurance, which can reimburse you up to $5,000 per person if your trip is cut short or canceled for a covered reason. There's also trip delay reimbursement, which can cover expenses like meals and lodging up to $500 per ticket if your travel is delayed by more than 12 hours or requires an overnight stay. When you rent a car for business purposes and pay with the card, you get primary auto rental collision damage waiver coverage. This means you can decline the rental company's insurance and be covered for theft or collision damage. The card also includes purchase protection and extended warranty protection on eligible purchases.

Finally, you can get employee cards at no additional cost. This makes it easy to provide cards to your employees and earn rewards on all their business spending.

The Ink Business Preferred earns 3 Ultimate Rewards points per dollar on the first $150,000 spent in combined purchases each account anniversary year in the following categories:

• Travel
• Shipping purchases
• Internet, cable, and phone services
• Advertising purchases with social media sites and search engines

After you hit the $150,000 cap, you'll earn 1 point per dollar on those purchases. All other purchases earn 1 point per dollar. The 3X categories are very well-suited for many small businesses. The travel category is broad and includes everything from flights and hotels to rental cars and ride-sharing services. The inclusion of shipping, internet/cable/phone services, and online advertising makes this card a great fit for businesses that have significant expenses in these areas. The $150,000 annual cap is also quite generous and should be sufficient for many small businesses.

Chase Ultimate Rewards points are some of the most valuable and flexible points out there. You have several options for redeeming the points you earn with the Ink Business Preferred. The best option for you will depend on your goals.

You can redeem your points for cash back at a rate of 1 cent per point. So, 100,000 points would get you $1,000 in cash. You can also redeem your points for gift cards or to pay for purchases through the Chase portal. However, These options are generally not recommended as you can get more value from your points in other ways.

A better option is to redeem your points for travel through the Chase Ultimate Rewards travel portal. When you do this, your points are worth 1.25 cents each. That means your 100,000-point sign-up bonus is worth $1,250 in travel. This is a good, straightforward way to get solid value from your points. You can book flights, hotels, rental cars, and cruises through the portal.

The best way to maximize the value of your points is to transfer them to one of Chase's airline or hotel partners. This is where you can really get outsized value. For example, you could transfer your points to a partner like World of Hyatt and book a luxury hotel stay that would have cost you much more if you had paid in cash. The transfer partners are covered in more detail in the next section.

One of the biggest strengths of the Chase Ultimate Rewards program is its list of airline and hotel transfer partners. You can transfer your points to any of these partners at a 1:1 ratio, meaning one Chase point equals one partner point or mile. This is where you can unlock some serious value. Here are the current transfer partners:

Airlines:

• Aer Lingus AerClub
• Air Canada Aeroplan
• Air France-KLM Flying Blue
• British Airways Executive Club
• Emirates Skywards
• Iberia Plus
• JetBlue TrueBlue
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards
• United MileagePlus
• Virgin Atlantic Flying Club

Hotels:

• IHG Rewards Club
• Marriott Bonvoy
• World of Hyatt

The transfer partner list is quite strong, with good options for domestic and international travel. World of Hyatt is a particularly valuable partner, as you can often get more than 2 cents per point in value when you redeem your points for Hyatt hotel stays. Having partners in all three major airline alliances (Star Alliance, oneworld, and SkyTeam) gives you a lot of flexibility when it comes to booking award flights.

While the Ink Business Preferred is a strong contender, it’s always a good idea to see what else is out there. Here are a couple of other business cards to consider:

The Business Platinum Card® from American Express: If you’re a frequent traveler who values premium perks, this card might be a better fit. It has a much higher annual fee, but it comes with a long list of benefits like airport lounge access, annual airline fee credits, and elite status with Marriott and Hilton. The rewards structure is different, with a focus on earning points on flights and prepaid hotels booked through AmexTravel.com. This card is for the business owner who is constantly on the road and can take full advantage of the luxury travel benefits.

The Blue Business® Plus Credit Card from American Express: If you’re looking for a simpler card with no annual fee, the Blue Business Plus is a great choice. It earns 2 Membership Rewards points per dollar on all eligible purchases on up to $50,000 per calendar year, then 1 point per dollar. This card is a good option if your business spending doesn’t align with the Ink Business Preferred’s bonus categories or if you want to avoid an annual fee. The welcome offer is typically smaller than the Ink Business Preferred's, but it's a solid, straightforward card for everyday business spending.

So, who is the Ink Business Preferred for? This card is a great fit for a few types of business owners.

If you own a small business and have consistent spending in the 3X bonus categories—travel, shipping, internet, cable, phone services, and online advertising—this card is a no-brainer. The ability to earn 3 points per dollar on up to $150,000 in spending each year is a huge plus. If you can easily meet the $8,000 spending requirement in the first three months to get the welcome bonus, you'll get a massive head start on your rewards.

This card is also perfect for people who want to earn flexible travel rewards. The Chase Ultimate Rewards program is one of the best out there, and the ability to transfer points to partners like Hyatt, United, and Southwest gives you a ton of great options for booking travel.

Who should skip this card? If your business doesn't spend much in the bonus categories, you might be better off with a card that offers a flat rewards rate on all purchases. Also, if you're looking for a card with premium travel perks like airport lounge access or annual travel credits, you'll want to look at a more premium card like The Business Platinum Card® from American Express. Finally, if you're opposed to paying an annual fee, there are some good no-annual-fee business cards on the market, though they typically don't offer the same level of rewards or benefits.

The Chase Ink Business Preferred Credit Card is one of the best business credit cards available today. For a modest $95 annual fee, you get a card that delivers a ton of value, from the generous sign-up bonus to the valuable 3X bonus categories and solid travel protections. It’s a fantastic choice for small business owners who want to earn valuable, flexible travel rewards from their everyday business spending.