5 Benefits of the Ink Business Preferred® credit card
Quick insights
- Chase Ink Business Preferred® offers 3x rewards on up to $150,000 in annual combined purchases on shipping purchases; advertising purchases made with social media sites and search engines; internet, cable and phone services; and travel (after reaching the cap, cardmembers can earn at the base rate of 1 point per $1).
- The card typically features a welcome bonus offer, allowing new cardmembers to earn additional points if they meet certain spending criteria during a set time period.
- Ink Business Preferred cardmembers have flexible rewards redemption options, including cash back, travel, gift cards and more.
Choosing the right business credit card can make a difference in how you manage expenses and optimize your company’s spending. One option that might be worth considering is Ink Business Preferred. The card’s rewards program allows cardmembers to earn points on a range of everyday business expenses. With flexible ways to earn rewards and practical tools for tracking and controlling expenses, this card is designed to support a wide variety of business needs.
Although Ink Business Preferred comes with an annual fee, it could be a good choice if you’re seeking an all-around, versatile business credit card. Below are some reasons to consider Ink Business Preferred, including its rewards program, welcome bonus offer, redemption options and expense management features.
5 Potential benefits of Ink Business Preferred
There are numerous potential benefits of business credit cards, from the ability to separate personal and business expenses to improving cash flow. Ink Business Preferred—part of the Chase Ink family of cards—offers these benefits and more.
Here are five ways your business might benefit from Ink Business Preferred card:
1. Earn rewards on everyday business expenses
To help maximize the return on your business spending, you may want to consider a business credit card with rewards categories that overlap with your most frequent expenses. You could potentially get value out of a card when the majority of your business’s purchases fall within the rewards program.
If Ink Business Preferred aligns with your spending habits, then it may be a good fit. Cardmembers can earn 3X points per $1 on the first $150,000 spent in combined purchases in the following categories each account anniversary year:
- Shipping purchases
- Advertising purchases made with social media sites and search engines
- Internet, cable and phone services
- Travel
All other purchases can earn 1 point per dollar. Points do not expire as long as your account is open. You could also earn rewards on any purchases made with employee credit cards.
Review your business’s annual spending to estimate how many points you could potentially accumulate. For example, if you spend a combined $95,000 annually in the categories that earn 3X points, you would earn 285,000 points—on top of the baseline rewards on all other purchases.
2. Receive a welcome bonus offer
Welcome bonus offers may be a good way to accumulate points faster than you would through a business credit card’s standard rewards program. These offers allow new cardmembers to earn points when they meet a certain spending requirement within a set timeframe. The welcome bonus offer may be beneficial if you can meet the spending requirement.
Ink Business Preferred typically comes with a welcome bonus offer for eligible cardmembers. Check the Chase website for current Business Preferred offer details.
3. Choose from flexible redemption options
Cards with flexible redemption options let you adapt your rewards to your business’s changing needs and priorities. Ink Business Preferred offers several ways to redeem rewards. Here are some of the options:
- Cash back
- Hotel, flight and rental car bookings
- Gift cards
- Purchases with select retailers
If cash flow is tight, you can redeem your rewards for cash back. If you need to pay for an upcoming trip to meet with a supplier, you may opt to use points for booking a hotel and flight.
4. Combine points with other Chase credit cards
If you already have other Chase consumer or business credit cards, you may be able to combine your points in a single credit card account. Combining Chase points can help streamline tracking and help you maximize your rewards earning potential. It could also allow you to access higher value redemption options.
The baseline value of Chase points is 1 cent each. With Ink Business Preferred, you can access the Chase Points Boost feature on select travel bookings through Chase TravelSM, which could increase the value of your points. Not all Chase cards offer Points Boost, and for those that do, the value and availability of eligible bookings can vary by card.
Strategically pooling points from multiple Chase cards can help you apply a larger points balance toward Points Boost opportunities and potentially reach your redemption goals more quickly.
5. Streamline expense management
Some business credit cards come with a range of features to help you track the spending on your account. Ink Business Preferred offers quarterly reports and access to up to 24 months of statement details. It’s also designed to integrate with select accounting software, which can simplify recordkeeping for tax reporting and other business needs.
Ink Business Preferred also offers employee credit cards (cards that allow employees to make business-related purchases). Here are some of the features and benefits of these cards:
- Issuing employee cards, potentially minimizing the need for manual reimbursement processes.
- Setting individual spending limits for each employee to help prevent overspending.
- Tracking employee spending via the online dashboard to help simplify expense management.
- Setting up personalized account alerts for unusual activity, large purchases or when employees approach their spending limit.
Is Ink Business Preferred worth it?
As you assess whether Ink Business Preferred is worth it for your business, it may be helpful to answer these questions:
- Will the potential rewards offset the card’s annual fee?
- Do the rewards categories and welcome bonus offer align with your business’s spending habits?
- Does your business spend more than $150,000 combined on travel, utilities, shipping and digital advertising-related purchases in a year?
- Would you benefit from combining points across your Chase credit card accounts?
- Do you need access to tools for tracking and controlling expenses?
If your business would benefit from the rewards, welcome bonus offer, redemption opportunities and expense management tools, you may want to consider applying for Ink Business Preferred.
In summary
Chase Ink Business Preferred is a potentially versatile option for business owners seeking to maximize their rewards. The card offers elevated rewards on up to $150,000 in annual purchases across shipping, digital advertising, utilities and travel spending categories, plus the opportunity to earn a welcome bonus offer. Cardmembers can pool points across select Chase credit cards and redeem them in a variety of ways.
They can also use spending tools like employee credit cards and integrate their credit card account with their existing bookkeeping software. If your business would benefit from these card features, then Ink Business Preferred may be worth the annual fee.
