Chase Ink Business Preferred: 2024 Review (2024)

Full Review

The

Ink Business Preferred® Credit Card

is one of the best — and most accessible — travel cards for small businesses thanks to the card’s balance of perks, rewards and value.

Annual fees are standard practice for business travel cards, but the

Ink Business Preferred® Credit Card

's

$95

annual fee falls on the low end of a spectrum that can swing as high as $695. Yet the

Chase Ink Business Preferred

still delivers a better welcome offer than some of its pricier peers and it matches or bests their rewards rates.

All of that makes the

Ink Business Preferred® Credit Card

a simple, practical business credit card for business owners who want to earn travel rewards on everyday business expenses like shipping, advertising and internet.

You might prefer the Capital One Venture X Business instead if: You’re aiming for status and luxury perks, like travel credit and airport lounge access. The Venture X Business delivers these without fully breaking the bank, thanks to an annual travel credit that almost offsets the card’s

$395

annual fee. (See rates and fees.)

You might prefer the Capital One Spark Miles for Business instead if: Your business spending doesn’t align with the Ink Business Preferred’s bonus categories. The Spark Miles for Business earns a flat 2 miles per $1 on all purchases and the $

95

annual fee is waived for the first year. (See rates and fees.)

Annual fee:

$95

.

Sign-up bonus:

Earn 120k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,200 cash back or $1,500 toward travel when redeemed through Chase Travel℠.

Rewards:

Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year, Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn

.

Bonus categories currently include:

You can redeem points for cash, gift cards, travel and eligible products or services. Points are generally worth about a penny each, with one notable exception: When you redeem your points for travel booked through Chase Travel℠, they're worth 1.25 cents apiece.

APR:

The ongoing APR is 21.24%-26.24% Variable APR

.

Foreign transaction fee: None.

Other perks:

A huge sign-up bonus

The

Chase Ink Business Preferred

offers one of the best sign-up bonuses for a business credit card:

Earn 120k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,200 cash back or $1,500 toward travel when redeemed through Chase Travel℠.

That’s because the points earned with your

Ink Business Preferred® Credit Card

are worth 25% more (1.25 cents apiece) when you redeem them for travel booked through Chase. That stretches the value of your welcome bonus, as well as any points you earn, if you redeem them for airfare, accommodations and more through Chase's portal. You can also combine points earned on other Chase credit cards (personal and business).

High rewards in common business spending categories

Several business travel cards offer bonus categories, but the

Ink Business Preferred® Credit Card

is one of the few that earns bonus points on non-travel related spending.

In addition to travel expenses, you’ll earn 3 points per dollar on the first $150,000 in combined annual spending in these categories:

All other spending earns a base rate of 1 point per dollar.

Compare that to the

Capital One Spark Miles for Business

, which only earns bonus points on hotels and rental cars, and only when booked via Capital One’s travel portal.

Transfers to airline and hotel programs

You have the flexibility of transferring points on a 1:1 basis to a dozen popular airline and hotel loyalty programs. Depending on which partner you choose and how you redeem those points, transferring may offer outsized value.

NerdWallet values World of Hyatt points at

2.3

cents each, compared with 1.25 cents per point earned on the

Ink Business Preferred® Credit Card

, for example. So 10,000 Chase Ultimate Rewards® points would be worth $125 if redeemed for travel via the Chase Travel℠ portal. But if you transferred those points to your World of Hyatt account, those same 10,000 points would be worth $230.

Partners include:

Travel protections

The card’s travel protections can spare you some headaches and money when your travel plans derail. Trip cancellation and interruption insurance reimburses you for prepaid, nonrefundable travel expenses (including passenger fares and hotels) when your trip is canceled due to sickness, severe weather conditions and other qualifying scenarios. Per person and per trip coverage limits apply.

The

Ink Business Preferred® Credit Card

also includes rental car collision coverage, which reimburses you when a car rented for business purposes is damaged or stolen. The Ink Business Preferred’s coverage is primary — meaning it kicks in first, before your commercial auto insurance — if your rental car is damaged. To qualify, you must pay for the car rental with your Ink Business Preferred and decline the car rental agency’s collision insurance. Other terms apply.

Why you might want a different credit card

The

Ink Business Preferred® Credit Card

is an excellent card, but it's not perfect, or even appropriate, for every business. Here are some possible reasons why you may want a different business credit card.

There's an annual fee

The

Ink Business Preferred® Credit Card

’s

$95

annual fee is certainly on low end for a business travel card, but there are a few no-annual-fee options.

The U.S. Bank Business Altitude™ Connect World Elite Mastercard® is another top-notch option. This card does have an annual fee ($

95

), but it’s waived for the first year. And you’ll earn 4x points on travel, including at gas stations and EV charging stations, up to the first $150,000 in combined annual spending. No other business travel card delivers that level of travel rewards.

There's no introductory 0% APR period

Business travel cards typically don’t offer an intro APR period. The Blue Business® Plus Credit Card from American Express is an exception. You'll get an introductory

0% intro APR on Purchases for 12 months, and then the ongoing APR of 18.49%-26.49% Variable APR

. This card earns AmEx Membership Rewards points:

Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. Terms Apply.

You can redeem points for travel or cash back, without losing any value (see rates and fees).

Its bonus categories might not match your spending

If you don't travel much or spend money in the other bonus categories (advertising, shipping and internet, cable and phone services), you'll miss out on most of the ongoing value of the

Ink Business Preferred® Credit Card

. The Ink Business Unlimited® Credit Card offers a flat cash-back rate of

1.5%

on all purchases, making it easy to earn a top rate no matter what your business spends on. There’s also a long intro APR period, no annual fee and stellar welcome offer:

Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.

Want a flat-rate travel card instead? The Capital One Spark Miles for Business card gives you an unlimited

2

miles per dollar on every purchase. This card has an annual fee (

$0 intro for the first year, then $95

) and a decent welcome offer:

Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening.

Your business spends HEAVILY on travel

The Business Platinum Card® from American Express may merit a closer look if your business spends a lot of money on travel annually. It has a

$695

annual fee, but the long list of perks and benefits can offset the cost as long as you use them.

It earns 5 Membership Rewards points per $1 spent on flights and prepaid hotels booked through amextravel.com; 1.5 points on eligible purchases at U.S. construction material and hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year; and 1 point for each dollar you spend on eligible purchases. Terms apply (see rates and fees). (Learn more about the difference between The Business Platinum Card® from American Express and Ink Business Preferred® Credit Card.)

The

Ink Business Preferred® Credit Card

checks about as many boxes as a card can for business travelers without charging an annual fee in the hundreds of dollars. Check your books to see how well your expenses jibe with the bonus categories. If there's a lot of overlap, don't be afraid to pull the trigger.

To view rates and fees of

The Business Platinum Card® from American Express

, see this page. To view rates and fees of

The Blue Business® Plus Credit Card from American Express

, see this page.