Chase ink business preferred credit card review – electricity for beginners

While its 80,000-point sign-up bonus may be first thing that catches your eye, you may be wondering what else the Chase Ink Business Preferred card has to offer. The card doesn’t include nearly the breadth of features as, say, the Chase Sapphire Reserve card, but there is much to like about it.

The card features a triple bonus rate with a very high combined purchase limit ($150,000 annually). This may be especially appealing if your business spends a large amount in the card’s bonus categories, which include travel and internet advertising.

Extra points: Since the Chase Ink Business Preferred is part of the Chase Ultimate Rewards card family, it should pair nicely with other Chase rewards cards, enabling you to earn more Ultimate Rewards points through additional bonus categories. The Chase Ink Business Preferred carries a relatively low annual fee ($95) for a card with a large sign-up bonus. Modest rewards rate

The card’s rewards rate is not our favorite feature on the Chase Ink Business Preferred card. The card offers one point per dollar on general purchases and three points per dollar on certain categories of purchases, including travel, shipping, internet advertising, and internet, cable and phone services.

A triple rewards rate may seem like a dazzling figure until you consider that the card’s bonus categories may not be categories in which business owners are likely to allocate a large percentage of spending, such as, say, gas or restaurant purchases. The Chase Ink Business Preferred card, in fact, seems targeted toward certain segments of businesses. For example, if you own an online business or a business with a large travel budget, you may find the Chase Ink Business Preferred card especially rewarding.

For many cardholders, the 80,000-point sign-up bonus may be plenty of incentive to sign up for the card. This is one of the largest sign-up bonuses available at the moment, and most business owners shouldn’t find it hard to reach the spending requirement of $5,000 within three months to earn the points. The bonus should be enough to earn you a free flight – or two – in the first year alone. High annual fee

The card’s $95 annual fee is on the high side for a business rewards card. The perks and rewards, however, more than make up for this fee. If you are eyeing the card’s monster-sized sign-up bonus, the annual fee is especially worth it. Other cards on the market with oversized bonuses – including the Chase Sapphire Reserve – come with much higher annual fees. Flexible redemption options

The Chase Ultimate Rewards program is one of the most flexible with many ways to redeem your points. You can make travel purchases from outside travel sites – giving you the option to shop around for the best deal – and redeem your points for statement credits against these purchases. Redeeming your points this way means you never have to worry about blackout dates and seat restrictions.

You can also redeem your points through Chase’s Ultimate Rewards portal for a 25 percent bonus, boosting the value of your points to 1.25 cents per point. In addition, Chase has a substantial network of airline partners and allows you to transfer your points to these partners at a high 1:1 rate, enabling you to find even better values on your points.

On top of this, you have a plethora of other redemption options – including cash back, gift cards and merchandise. However, these options are not the best use of Ultimate Rewards points. We generally recommend sticking to travel redemptions, since the alternatives tend to be worth less than a penny per point. Great perks

The Chase Ink Business Preferred card includes $600 worth of cellphone protection – a rare benefit. If you use the card to pay your phone bill, Chase will cover theft and damage to your phone, as well as employee phones listed on your phone bill, up to three times per year (with a $100 deductible).

You will also find many nice perks for business travelers on this card, including primary car rental insurance and no foreign transaction fees. Moreover, the card comes with the full array of purchase protections, including extended warranty, price protection and return protection. Keep track of employee spending

The Chase Ink Business Preferred card, designed for business owners, has many great features to manage multiple cards on one account. You can add employees to your account for no additional fee and set individual limits for each employee. You also can use Chase’s mobile app to receive instant alerts on purchases made by your employees, to give you some extra peace of mind. The app even allows you to file your receipts on the go, making expense management a little easier. Why get the Chase Ink Business Preferred card?

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