The Chase is the best card for earning flexible rewards for your business. Chase bridges the gap between cash back and travel rewards for small businesses with the Ink Business Preferred℠ Credit Card. You’ll earn Ultimate Rewards points, which you can either use for travel in Chase’s travel portal, transfer to one of their travel partners or exchange for cash back. You have complete control over the rewards you earn and how you use them for your business.
Earning rewards with the Ink Business Preferred℠ Credit Card is simple. With a massive sign up bonus and rewards in business expense categories like travel and social media advertising, you’ll quickly earn enough Ultimate Rewards points to cover your flights to your next industry conference or pay down your card balance with a cash back statement credit.
What we like about Ink Business Preferred℠ Credit Card
- 3x bonus categories: You’ll earn 3x points per dollar on the first $150,000 spent in specific categories, plus 1x point per dollar on all other purchases
- Big sign up bonus: Earn 80,000 bonus points after you spend $5,000 on purchases in the first three months after account opening. That’s $1,000 for travel when you redeem through Chase Ultimate Rewards.
- Flexible rewards: You can redeem your Chase Ultimate Rewards for cash back, gift cards, travel through Chase’s online portal, technology purchases through Apple Ultimate Rewards or you can transfer them to one of Chase’s partner travel programs.
- No foreign transaction fees: The Ink Business Preferred℠ Credit Card is the perfect card for businesses that require travel to work all around the world.
- No fee for employee cards: Add employee cards to your account for no additional fee, keeping your team all under one account as your business grows.
Things to Consider
- Limited bonus category rewards: If your business spends more than $150,000 per year in the bonus categories, you’ll only earn 1x point per dollar on everything after you cross that limit.
- Annual fee: While the annual fee is only , it still exists. If you prefer to avoid annual fees completely, the Ink Business Unlimited℠ Credit Card would be a better fit for you.
- Weighted towards travel: The rewards for the Ink Business Preferred℠ Credit Card have the best value when you use them for travel. If you and the people in your company don’t travel much, you’ll be able to find better cash back rewards with other cards like the , which earns 2% cash back on every purchase.
Ink Business Preferred℠ Credit Card ultimate Rewards details
With this card, you’ll earn 3x points per dollar on the first $150,000 spent on travel, shipping purchases, internet, cable and phone services and advertising purchases on social media sites and search engines, plus 1x point per dollar on everything else. If you take into consideration the intro bonus offer that could be worth up to $1,000, there are a lot of incentives to use your card heavily in the first three months.
You can take advantage of your Ultimate Rewards points in the way that best fits your business. For travel rewards, points transfer at a 1:1 ratio to Chase’s travel partners, including more than a dozen airlines and hotels like IHG Rewards, Marriott Bonvoy and World of Hyatt. Alternatively, you can purchase travel directly through the Ultimate Rewards portal where your points are worth 1.25 cents per point.
For a slightly lower rate of one cent per point, you can redeem your Ultimate Rewards points for cash back either as a direct deposit to your payment account or as a statement credit. If you would like to use your points to make non-travel purchases, you can shop directly through the Ultimate Rewards site for gift cards, where your points are also worth one cent per point.
Ink Business Preferred℠ Credit Card fees
The has an annual fee of $95 every year the card is active. Other fees you might incur are balance transfer fees of either $5 or 5% (whichever is greater) and cash advance fees of $15 or 5% (whichever is greater. If you make a late payment or your payment is returned, you’ll also incur a $39 late payment or returned payment fee. This card has no foreign transaction fees.
How does it compare to other business rewards cards?
The is a great option for small businesses that want to earn flexible rewards for their spending. However, if you’re likely to put $50,000 on your business credit card in the first six months after account opening, the will earn you a huge intro bonus that you can use for company travel, with the added benefit of no annual fee for the first year. Larger businesses who don’t mind paying a higher annual fee may like the added features of the , which connects directly to QuickBooks and rewards you with 4x Membership Rewards points in your top two categories every month.
| Card | Ongoing Purchase APR | Annual Fee | Intro Bonus | Credit Needed | Key features |
|---|---|---|---|---|---|
| 17.49% - 22.49% Variable | $95 | 80,000 points when you spend $5,000 on purchases in the first three months. | Good to Excellent | 3x points on up to $150,000 in combined purchases on travel, shipping, internet, cable and phone and online advertising as well as 1x point per dollar on all other purchases; Flexible points redemption; Free employee cards | |
| 18.49% (Variable) | $0 intro for first year; $95 after that | Earn 50,000 bonus miles after you spend $5,000 in the first three months and earn 150,000 bonus miles when you spend $50,000 in the first six months. | Good to Excellent | 5x miles on hotels and rental cards and unlimited 2x miles on all other purchases; Global Entry or TSA PreCheck credit; Free employee cards | |
| 15.74% - 23.74% Variable See Rates & Fees | $295 See Rates & Fees | Earn 35,000 Membership Rewards points after you spend $5,000 on eligible purchases with the Business Gold Card within the first three months. Terms Apply. | Good to excellent | 4X Membership Rewards® points on the 2 select categories where your business spent the most each month; Free employee cards; Expense management tools. Terms Apply. |
The bottom line
The is a smart option for businesses who want to earn rewards that can be used for either travel or cash back. This card gives you control of your rewards, letting you use them in a way that best suits your business. Although the sign up bonus alone is enough to cover the annual fee for many years, you do have similar options if you want to avoid paying it. The is an excellent cash back business credit card with no annual fee. It also makes an excellent complement to the Ink Business Preferred℠ Credit Card, allowing you to take advantage of even better rewards within the Chase credit card family.
For rates and fees of American Express® Business Gold Card, please click here.
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