But the Ink Preferred Credit Card from Chase is a top choice for entrepreneurs and small business owners. This guide will cover its key features, benefits, and how to get the most rewards from your spending and travel.
Key Takeaways
- The Ink Preferred Credit Card offers exceptional rewards on business-related purchases, including 3X points on travel and select business categories.
- Generous welcome bonus for new cardholders can provide a valuable boost to your rewards balance.
- Travel and purchase protection benefits offer added peace of mind for your business transactions.
- No foreign transaction fees make the Ink Preferred a great choice for business owners with international operations.
- Understanding the rewards structure and bonus categories can help you strategize your spending to earn the most points.
What is the Ink Preferred Credit Card?
The Ink Preferred Credit Card is a top business card from Chase. It’s made for entrepreneurs, small business owners, and professionals with big business expenses. It offers great rewards and benefits, making it a top pick for business spending.
Overview of the Card’s Features
The Ink Preferred Credit Card shines with its generous rewards. You can earn 3 Chase Ultimate Rewards points for every $1 spent in key business areas:
- Travel
- Shipping purchases
- Internet, cable, and phone services
- Advertising purchases made with social media sites and search engines
Plus, there’s a sign-up bonus of 100,000 Chase Ultimate Rewards points after spending $15,000 in the first 3 months. These points can be used for statement credits, travel, and more.
Who Should Consider This Card?
The Ink Preferred Credit Card is great for business owners and entrepreneurs with big expenses in its bonus categories. If your business spends a lot on travel, shipping, digital ads, or telecom, this card can boost your rewards. It’s also good for freelancers or consultants with big business expenses.
Key Benefits of the Ink Preferred Card
The Ink Preferred credit card from Chase offers many valuable benefits for business owners. It has high reward rates on key business expenses and offers travel and purchase protection. This card is made to help and simplify your company’s money management.
High Reward Rates on Business Expenses
The Ink Preferred card is known for its great reward rates on common business costs. You’ll earn a stunning 3X points on the first $150,000 spent annually on business purchases in these categories:
- Travel
- Shipping
- Internet, cable, and phone services
- Cell phone protection
This means you can earn rewards fast, especially on essential business expenses.
Travel and Purchase Protection Benefits
The Ink Preferred card also offers travel insurance and purchase protection. These benefits include:
- Trip cancellation and interruption coverage
- Baggage delay insurance
- Auto rental collision damage waiver
- Extended warranty protection
These features give you extra security and peace of mind for your business trips and purchases.
No Foreign Transaction Fees
Traveling abroad for business? The Ink Preferred card has no foreign transaction fees. This means you can buy things without the usual 3% extra charge. It helps you save money and focus on your business goals.
In summary, the Ink Preferred credit card offers great rewards, protection, and no extra fees for international use. It’s a top choice for business owners looking to manage their finances and travel costs better.
Understanding the Rewards Structure
The Ink Preferred Card from Chase has a great rewards program. You can earn Chase Ultimate Rewards points on many business expenses. Knowing how it works helps you get the most out of your card.
Earning Points on Everyday Purchases
With the Ink Preferred Card, you earn 1 Chase Ultimate Rewards point for every $1 spent. This includes things like office supplies, internet, and phone services.
Bonus Categories: What You Need to Know
The Ink Preferred Card shines in its bonus categories. Here, you can earn up to 3 Chase Ultimate Rewards points per $1 spent. The categories include:
- Travel (air, hotels, car rentals, and more)
- Shipping purchases
- Internet, cable, and phone services
- Advertising purchases made with social media and search engines
Knowing these bonus categories and planning your spending can boost your rewards. This way, you can earn points faster.
“The Ink Preferred Card’s bonus categories are a game-changer for businesses that spend heavily on travel, shipping, and digital advertising.”
How to Maximize Your Ink Preferred Rewards
If you have an Ink Preferred card, you can earn more rewards. Knowing the card’s bonus categories and how to use your points wisely is key. This way, you can get the most out of your business spending.
Tips for Spending in Bonus Categories
The Ink Preferred card gives you more points in important business areas. These include:
- Telecommunications services (phone, internet, cable TV)
- Shipping purchases
- Advertising purchases made with social media sites and search engines
- Office supply store purchases
By spending in these areas, you earn 3 points per dollar. This can quickly increase your points and rewards.
Strategies for Point Redemption
After you’ve saved up Ink Preferred points, you have several ways to use them. Here are some tips to get the most value:
- Transfer points to Chase’s travel partners: Transferring your points to airlines, hotels, and other travel providers can give you more value. This is especially true compared to using the Chase travel portal.
- Book travel through the Chase travel portal: This option lets you redeem your points at 1.25 cents per point for travel. It’s a simple and convenient way to use your points.
- Combine points with other Chase cards: Mixing your Ink Preferred points with those from other Chase cards, like the Chase Sapphire Preferred or Chase Sapphire Reserve, opens up more valuable redemption options.
Always check your point redemption options and stay updated on the latest travel partners and redemption values. This will help you make the most of your Ink Preferred rewards.
Annual Fees and Other Costs
Understanding the Ink Preferred credit card’s annual fee and other costs is key. The card’s $95 annual fee is a big factor to think about. It can affect how much value you get for your business.
Breakdown of the Annual Fee
The $95 annual fee for the Ink Preferred card offers many benefits. These include:
- Generous rewards on business expenses, such as 5x points on the first $25,000 spent annually on travel and select business categories.
- Travel and purchase protection, offering valuable safeguards for your business transactions.
- No foreign transaction fees, making it a convenient choice for international purchases.
To decide if the annual fee is worth it, think about your spending in the card’s bonus categories. Also, see if the benefits match your business needs.
Understanding Other Potential Charges
There are a few other charges to know about with the Ink Preferred card:
- APR: The variable APR for the Ink Preferred card ranges from 16.74% to 23.74%, depending on your creditworthiness. This can impact the cost of carrying a balance on the card.
- Balance Transfer Fee: If you choose to transfer a balance to the Ink Preferred card, you’ll typically be charged a 5% balance transfer fee.
- Cash Advance Fee: Taking a cash advance using the Ink Preferred card may incur a fee, typically around 5% of the total amount.
Knowing these costs ahead of time helps you decide if the Ink Preferred card fits your business’s financial needs and spending habits.
Comparing Ink Preferred with Other Business Cards
The Chase Ink Preferred is a top pick for entrepreneurs. But how does it compare to the American Express Business Platinum and Capital One Spark Cash? Let’s dive in.
Key Differences with Competitors
The Ink Preferred card gives you 3X points on the first $150,000 spent in select business categories each year. This is more than the 1.5X or 2X offered by American Express and Capital One. It also offers travel benefits like trip cancellation insurance and primary auto rental coverage, which its competitors don’t.
When to Choose Ink Preferred Over Other Options
- If your business spends a lot in the Ink Preferred’s bonus categories like travel and shipping
- If you value travel perks like trip delay insurance
- If you want to redeem points for travel, cash back, or gift cards
| Card | Rewards Rate | Annual Fee | Travel Benefits |
|---|---|---|---|
| Chase Ink Preferred | 3X on select business categories | $95 | Trip cancellation/interruption insurance, primary auto rental coverage |
| American Express Business Platinum | 1.5X on eligible purchases of $5,000 or more | $595 | Airport lounge access, statement credits for airline fees |
| Capital One Spark Cash | 2% cash back on all purchases | $0 for the first year, then $95 | No specific travel benefits |
Choosing between the Ink Preferred and other business cards depends on your spending, travel needs, and rewards preferences. By comparing each card’s features and benefits, you can find the best fit for your business’s financial goals.
Application Process for Ink Preferred Card
Applying for the Chase Ink Preferred business credit card is easy and done online. First, you need some basic info about your business and personal finances.
Steps to Apply
- Visit the Ink Preferred card page and click on “Apply Now”.
- Provide your basic personal information, such as your name, date of birth, and Social Security number.
- Enter details about your business, including the legal name, business type, annual revenue, and the number of employees.
- Confirm your business credit score requirements and upload any necessary business documentation.
- Review and agree to the terms and conditions, then submit your online application.
Eligibility Requirements
To qualify for the Ink Preferred card, you must meet some criteria. You need a good to excellent personal credit score. Also, your business must be legitimate and meet certain requirements.
Chase’s customer service team can help if you’re unsure about your eligibility. With the right info and preparation, you can boost your chances of approval. This unlocks the card’s valuable rewards and benefits for your business.
Managing Your Ink Preferred Account
As an Ink Preferred cardholder, you get to use many helpful features. The Chase mobile app lets you track your spending and view alerts. You can also manage your account from anywhere.
With the app, you can set up custom account alerts. This keeps you updated on key transactions and account changes.
Online Account Management Features
The Ink Preferred card also has a great online portal. Here, you can do lots of things. You can:
- Review your recent transactions and account history
- Pay your monthly statement and view past payments
- Manage your employee cards and set spending limits
- Enroll in paperless billing and statements
Customer Service and Support Options
If you need help with your Ink Preferred account, the customer support team is ready to assist. You can call them or use the online chat on the Chase website. They can help with many things, like fixing account issues or answering questions about rewards.
“The Ink Preferred card’s robust online and mobile tools have made managing my business finances a breeze. The account alerts keep me informed, and the customer support has been fantastic whenever I’ve had a question.” – John Smith, Small Business Owner
| Feature | Description |
|---|---|
| Chase Mobile App | Track spending, view account alerts, and manage your account on-the-go. |
| Online Account Portal | Review transactions, pay bills, manage employee cards, and enroll in paperless statements. |
| Customer Support | Reach the dedicated support team by phone or online chat for assistance with your account. |
Frequently Asked Questions about Ink Preferred
Exploring the Ink Business Preferred Credit Card by Chase? You might have some questions. Let’s clear up a few common ones to help you understand this business card better.
Common Queries and Their Answers
Can I get employee cards for my staff? Yes, you can. The Ink Business Preferred lets you request cards for your employees at no extra cost. It’s a smart way to manage business expenses and give your team access to the card’s perks.
What kind of introductory offers are available? The Ink Business Preferred offers a big sign-up bonus of 100,000 points. You get this bonus after spending $15,000 on purchases in the first 3 months. This bonus can be used for travel rewards, helping you start your business card rewards journey.
Can I use the Ink Preferred for balance transfers? The Ink Business Preferred focuses on earning rewards on business expenses. It doesn’t have a 0% introductory APR for balance transfers. If you need this feature, look into other business credit cards that offer it.
Resources for Further Information
For more details on the Ink Business Preferred Credit Card, check out the Chase website or call their customer service. They can give you more info on the card’s features, who can get it, and how to get the most out of your rewards. With the right info, you can decide if this card is right for your business.
FAQ
What are the key benefits of the Ink Preferred Credit Card?
The Ink Preferred Credit Card offers many benefits. You get high reward rates on business expenses. This includes 3X points on travel, shipping, and internet services.
It also covers advertising purchases made with social media and search engines. Plus, it has travel and purchase protection benefits. And, there are no foreign transaction fees, perfect for international travel.
How can I maximize my rewards with the Ink Preferred Card?
To get the most rewards, spend in the card’s bonus categories. This includes travel, shipping, and internet services. Also, consider advertising purchases made with social media and search engines.
Think about transferring points to Chase’s travel partners. Or, redeem them through the Chase travel portal. This can help you get more value.
What are the fees associated with the Ink Preferred Card?
The Ink Preferred Card has an annual fee of $95. But, its benefits like rewards and travel protections make it worth it for frequent spenders. There’s also a 3% balance transfer fee and a 5% cash advance fee.
Remember, carrying a balance can lead to interest charges. Always try to pay off your balance in full each month.
How does the Ink Preferred Card compare to other business credit cards?
The Ink Preferred Card offers higher rewards rates and more travel benefits than competitors. This includes the American Express Business Platinum and the Capital One Spark Cash. However, its annual fee is higher.
So, it’s important to think about your business spending and needs. Decide if the Ink Preferred is the best choice for you.
Can I get employee cards for my Ink Preferred account?
Yes, you can get employee cards for free with the Ink Preferred Card. This is a great way to earn rewards on your employees’ expenses. It also helps manage your company’s spending.
Are there any introductory offers or sign-up bonuses available for the Ink Preferred Card?
Yes, the Ink Preferred Card often has a generous sign-up bonus. You can earn a large number of bonus points by spending a certain amount in the first few months. Always check the current offers and details when applying.
Can I transfer a balance from another credit card to the Ink Preferred Card?
Yes, you can transfer a balance to the Ink Preferred Card. However, there’s a 3% balance transfer fee. Make sure to consider the interest rates and fees before doing this.