Apply for the Chase Ink Business Preferred Credit Card

The Chase Ink Business Preferred® Credit Card is an exceptional choice for small business owners seeking a rewards card with robust earning potential, travel perks, and flexible redemption options.

Designed with businesses in mind, this card offers valuable points for common business purchases, a lucrative sign-up bonus, and comprehensive travel protections.

This guide explores the key features, benefits, drawbacks, application requirements, fees, and answers to frequently asked questions about the Chase Ink Business Preferred Credit Card.

Card Overview

The Chase Ink Business Preferred® Credit Card is tailored for entrepreneurs and small business owners who want to earn Chase Ultimate Rewards® points on their business expenses.

It stands out for its generous rewards structure, offering 3 points per $1 spent on travel, shipping purchases, internet, cable, phone services, and advertising on social media and search engines (up to $150,000 in combined purchases per year).

All other purchases earn 1 point per $1.

Cardholders can also take advantage of a 100,000-point sign-up bonus (worth up to $1,250 when redeemed for travel through Chase Ultimate Rewards) after meeting the spending threshold.

With no foreign transaction fees and travel protections, this card is particularly attractive to business owners who frequently travel or spend internationally.

Reasons to Choose the Chase Ink Business Preferred Credit Card

Here are some compelling reasons to consider this card for your business needs:

1. Lucrative Sign-Up Bonus

• Earn 100,000 bonus points after spending $8,000 on purchases in the first 3 months from account opening.
• This bonus is equivalent to $1,250 in travel when redeemed through Chase Ultimate Rewards.

2. High Rewards Potential

• Earn 3 points per $1 on the following categories (up to $150,000 per year in combined purchases):
  • Travel.
  • Shipping purchases.
  • Internet, cable, and phone services.
  • Advertising purchases on social media platforms and search engines.
• Earn 1 point per $1 on all other purchases.

3. Flexible Redemption Options

• Points can be redeemed for:
  • Travel through Chase Ultimate Rewards for a 25% bonus.
  • Cash back, gift cards, or statement credits.
  • Transfer to Chase’s travel partners, such as United Airlines, Southwest Airlines, and Hyatt, for potentially even greater value.

4. Comprehensive Travel Benefits

• Travel protections include:
  • Trip cancellation/interruption insurance (up to $5,000 per person).
  • Auto rental collision damage waiver (primary coverage).
  • Baggage delay insurance and trip delay reimbursement.
• No foreign transaction fees, making it ideal for international business trips.

5. Employee Cards at No Additional Cost

• Add employee cards to your account for no extra charge and set spending limits for better expense management.

6. Business-Focused Features

• Integration with tools like QuickBooks makes it easy to track and categorize business expenses.
• Expense management tools simplify reporting and reconciliation.

7. Fraud and Purchase Protections

• Enjoy peace of mind with features like fraud alerts, purchase protection, and extended warranty coverage.

Chase Ink Business Preferred Credit Card

Drawbacks of the Chase Ink Business Preferred Credit Card

While the card offers impressive benefits, it also has a few potential downsides to consider:

1. Annual Fee

• The card charges a $95 annual fee, which may not suit businesses with lower spending needs.

2. Spending Requirement for Sign-Up Bonus

• To earn the 100,000-point sign-up bonus, you must spend $8,000 in the first 3 months. This may be challenging for some small businesses.

3. Category Spending Cap

• The 3x points categories are capped at $150,000 in combined purchases per year. After reaching this limit, purchases in these categories earn just 1 point per $1.

4. No Introductory APR

• Unlike some other business credit cards, the Chase Ink Business Preferred Credit Card does not offer a 0% APR introductory period on purchases or balance transfers.

5. Requires Excellent Credit

• Applicants typically need excellent credit (700 or higher) to qualify, which might be a barrier for some business owners.

How to Apply for the Card?

1. Know the Card’s Benefits

Before starting the application process, it is essential to understand the key advantages offered by the Chase Ink Business Preferred Card. Some of the most attractive benefits include:

• Reward Points Program: Earn points for every dollar spent in strategic categories, such as travel, advertising, telecommunications, and internet/TV and phone services.
• Sign-Up Bonus: Many cardholders may qualify for a generous bonus of points after reaching a minimum spending threshold within the first few months of approval (always pay attention to current offers and terms).
• Exclusive Business Perks: Gain access to financial management tools, detailed spending reports, and extra perks designed to help streamline cash flow management for your business.
• Purchase and Travel Protection: Benefit from protections like purchase protection, fraud alerts, and travel insurance, providing added security and peace of mind for your business expenses.

2. Check the Eligibility Requirements

Before submitting your application, make sure that both your business and you, as the owner, meet the criteria required by Chase. Common eligibility requirements include:

• Business Structure: The card is designed for companies, so you will need to provide proof of a formal business, such as an Employer Identification Number (EIN) for your business or a Social Security Number (SSN) if you operate as a sole proprietor.
• Credit History: A solid credit history is essential. Chase will review both your personal and business credit records, so maintaining a healthy credit score can positively influence the approval process.
• Revenue and Stability: You should be able to demonstrate consistent revenue and provide proof of income through financial statements, tax returns, bank statements, or other relevant documentation.

3. Step-by-Step Application Process

Research and Compare Offers

• Visit Chase’s Official Website: Begin by reviewing the details of the Chase Ink Business Preferred Card on the official website. Here you can check current rewards, annual fees, promotional offers, and all specific terms related to the card.
• Read the Terms and Conditions: Carefully review the card’s terms, including interest rates, annual fees, and other charges. This will help you make an informed decision before applying.

Gather the Required Documentation

Before starting your application, ensure you have the following documents and information ready:

• Your business’s tax identification number (EIN) or your personal SSN if you’re a sole proprietor.
• Proof of income and revenue, such as financial statements, tax returns, bank statements, or other relevant documents.
• Business information, including your commercial address, phone number, and updated contact details.

Complete the Online Application

• Access the Online Form: Chase typically offers a streamlined online application process. Visit the application page for the Chase Ink Business Preferred Card and fill in all required details accurately.
• Validate Your Information: Double-check every piece of information before submitting the form to avoid errors that might delay the approval process. Accuracy is critical.

Wait for Credit Evaluation and Approval

• Application Processing: Once you submit your application, it will undergo a credit evaluation, which may involve reviewing both your personal and business credit information. In some cases, additional documentation might be requested.
• Notification of Result: Upon approval, you will receive a formal notification via email or phone with further instructions. Stay alert for any communication from Chase regarding your application.

Receive and Activate Your Card

• Card Delivery: Once approved, your card will be mailed to the commercial address you provided.
• Activation: Follow the activation instructions provided—typically via phone or through Chase’s website/app—to start enjoying the card’s benefits immediately.

4. Tips and Final Considerations

• Keep Up with Promotional Offers: Since sign-up bonuses and promotions can change over time, regularly visit the Chase website to take advantage of the latest deals.
• Maintain a Strong Credit Profile: As both personal and business credit histories are considered during the application process, it is important to manage your finances well and make timely payments.
• Use the Card Responsibly: Enjoy the rewards, but ensure that you manage your business finances prudently. Be sure to read all terms and conditions to avoid any unexpected fees or high-interest charges.
• Stay Informed: Card benefits and conditions can be updated periodically. Keeping up-to-date will help you maximize the advantages of using the Chase Ink Business Preferred Card.

Fees and Costs

Understanding the card’s fees and costs is essential to determine if it aligns with your business’s budget:

• Annual Fee: $95.
• Foreign Transaction Fee: None.
• APR: Variable APR based on creditworthiness.
• Employee Card Fee: $0.
• Late Payment Fee: Up to $40.
• Balance Transfer Fee: 5% of the amount transferred or $5, whichever is greater.
• Cash Advance Fee: 5% of the amount advanced or $10, whichever is greater.

Frequently Asked Questions about the Chase Ink Business Preferred Credit Card

1. What makes the Chase Ink Business Preferred® Card unique?

The card stands out for its high rewards potential in business categories, flexible redemption options through Chase Ultimate Rewards, and comprehensive travel protections.

2. How does the sign-up bonus work?

Earn 100,000 bonus points after spending $8,000 within the first 3 months. This is equivalent to $1,250 in travel when redeemed through Chase Ultimate Rewards.

3. Can I transfer points to travel partners?

Yes, Chase Ultimate Rewards points can be transferred to Chase’s travel partners, such as United Airlines, Marriott Bonvoy, and Hyatt, for potentially higher value.

4. Does the card have a foreign transaction fee?

No, the card has no foreign transaction fees, making it ideal for international business use.

5. Is there a limit on 3x points categories?

Yes, the 3x points categories are capped at $150,000 in combined spending per year. After reaching this limit, you’ll earn 1 point per $1.

6. Can I get employee cards?

Yes, you can add employee cards for no additional cost and set spending limits for better expense control.

The Chase Ink Business Preferred Credit Card is an excellent option for small business owners looking to maximize their spending through a robust rewards program, flexible redemption options, and valuable travel benefits.

Its 100,000-point sign-up bonus, 3x points on business categories, and comprehensive travel protections make it a top-tier choice for businesses with significant travel and advertising expenses.

While the card’s $95 annual fee and high spending requirement for the sign-up bonus might deter some, the overall value it offers far outweighs these costs for most businesses.

If you’re a business owner looking for a versatile, rewards-focused credit card that supports your spending and travel needs, the Chase Ink Business Preferred Credit Card deserves serious consideration.