My Practical Take on the Chase Ink Preferred (Early 2025): A Business Rewards Card Focused on Bonus Categories and Travel Redemptions

My Practical Take on the Chase Ink Preferred Credit Card (Early 2025): A Business Rewards Card Focused on Bonus Categories, Travel Redemption, and Cell Phone Protection

Introduction

The Chase Ink Business Preferred® is a standout credit card for small business owners who want to maximize their everyday business expenses while enjoying valuable travel benefits and protections. Designed for businesses that spend heavily in categories like shipping, advertising, and travel, this card offers a generous welcome bonus, strong earning potential, and flexible redemption options.

Unlike premium travel cards with high annual fees, the Ink Business Preferred balances affordability with solid perks, making it a compelling choice for entrepreneurs who need a reliable rewards program. The key question is: does this card make sense for your business? In this review, I’ll break down its strengths, potential drawbacks, and how it stacks up against other business credit cards.

The Best Features of the Chase Ink Business Preferred

High-Value Welcome Bonus

One of the biggest draws of the Ink Business Preferred is its impressive welcome bonus. New cardholders can earn 100,000 Chase Ultimate Rewards® points after spending $8,000 in the first three months of account opening. That’s worth at least $1,000 in cash back or $1,250 when redeemed for travel through the Chase Ultimate Rewards portal. Even better, by transferring points to Chase’s airline and hotel partners, you can potentially extract even more value, making this one of the most lucrative sign-up offers in the business credit card space.

Strong Bonus Categories for Business Spending

The Ink Business Preferred rewards businesses that spend in key categories with 3X points per dollar on the first $150,000 spent each account anniversary year. The eligible categories include shipping purchases, social media and search engine advertising, internet, cable, and phone services, and travel. If your business spends heavily in any of these areas, the earning potential is massive. For everything else, you’ll earn a solid 1X point per dollar, which is standard for many business cards.

Flexible Redemption Options

One of the biggest advantages of Chase Ultimate Rewards is its flexibility. Points can be redeemed in multiple ways, including cash back, gift cards, and travel bookings. When booking through Chase Ultimate Rewards, points are worth 25% more, effectively giving you 1.25 cents per point toward flights, hotels, and rental cars. For those who prefer even greater value, Chase allows 1:1 point transfers to its airline and hotel partners, such as United Airlines, Southwest, Hyatt, and Marriott, which can significantly boost the return on your rewards.

Travel Benefits for Business Owners

Despite not being a premium travel card, the Ink Business Preferred offers several valuable travel protections. It includes primary car rental insurance for business rentals, meaning you can decline the rental agency’s collision damage waiver and still be covered. Additionally, it provides trip cancellation and interruption insurance, which reimburses up to $5,000 per trip if travel plans are disrupted due to covered reasons. And for business owners who travel internationally, the card has no foreign transaction fees, saving you money on purchases abroad.

Cell Phone Protection

A standout feature of the Ink Business Preferred is its built-in cell phone protection. If you pay your phone bill with the card, you’ll receive up to $600 per claim in coverage for theft or damage, with a $100 deductible. This benefit applies to both the primary cardholder and any employees listed on the same phone plan. For businesses that issue company phones, this can be a significant cost-saving perk.

Employee Cards with No Additional Fee

Growing businesses often require multiple employees to have access to company funds, and the Ink Business Preferred makes that easy by offering free additional employee cards. Not only do these help streamline business expenses, but they also contribute to earning rewards faster. Business owners can also set individual spending limits on employee cards to maintain control over expenditures while maximizing rewards potential.

The Drawbacks – What You Should Consider

$95 Annual Fee

The Chase Ink Business Preferred® comes with a $95 annual fee, which is reasonable for businesses that maximize the card’s bonus categories and travel perks. However, for businesses with lower expenses or those that don’t spend heavily in the 3X bonus categories, this fee might be harder to justify. If you’re not earning enough rewards to offset the cost, a no-annual-fee business card might be a better fit.

High Spending Requirement for the Welcome Bonus

Earning 100,000 points sounds fantastic, but unlocking the bonus requires spending $8,000 within the first three months. While this is achievable for businesses with significant operating costs, smaller businesses or sole proprietors with lower monthly expenses may struggle to meet the requirement. If your business doesn't naturally hit this spending threshold, you’ll need to plan your expenses carefully or consider a card with a lower minimum spend requirement.

No Premium Travel Perks

Although the Ink Business Preferred offers solid travel protections, it lacks the premium perks found on high-end business travel cards. There’s no complimentary airport lounge access, no annual travel credits, and no elite status perks. If you frequently travel for business and value airport lounges and luxury benefits, a more premium card—like the Business Platinum Card® from American Express or the Chase Sapphire Reserve®—may be a better choice despite their higher annual fees.

Limited 3X Bonus Categories

The 3X points per dollar is a strong earning rate, but it's limited to specific business categories and capped at $150,000 in total spending per year. Once you hit that cap, all purchases revert to the standard 1X earning rate. Additionally, if your business spends heavily in other categories—like inventory, equipment, or restaurants—you won’t earn the same bonus rewards. Business owners should evaluate their spending habits to ensure this card aligns with their highest expenses.

Important Things to Know Before Applying

Chase 5/24 Rule

Like most Chase business credit cards, the Ink Business Preferred is subject to Chase’s 5/24 rule. If you’ve opened five or more credit cards (personal or business) in the past 24 months, you’re unlikely to be approved. This makes it important to plan your credit card applications strategically if you want to add this card to your wallet.

Business Card Eligibility

You don’t need a formal LLC or corporation to apply—sole proprietors and freelancers can qualify using their Social Security Number instead of an Employer Identification Number (EIN). As long as you have business income or expenses, you may be eligible, making this a great option for side hustlers, gig workers, and small business owners.

Point Transfers for Maximum Value

One of the biggest advantages of Chase Ultimate Rewards is the ability to transfer points to airline and hotel partners at a 1:1 ratio. This can unlock significantly more value than simply redeeming through the Chase travel portal. Popular transfer partners include United Airlines, Southwest, JetBlue, Hyatt, and Marriott. If you know how to leverage points with transfer partners, you can stretch your rewards well beyond the 1.25 cents per point offered through Chase Ultimate Rewards.

Lyft Partnership

Through March 2025, Ink Business Preferred cardholders can earn 5X points on Lyft rides. If your business frequently relies on rideshares for transportation, this partnership offers a solid way to rack up extra points on everyday business travel.

Purchase Protection & Extended Warranties

The Ink Business Preferred includes valuable purchase protection and extended warranty benefits. Eligible new purchases are covered for damage or theft for up to 120 days, with a coverage limit of $10,000 per claim and $50,000 per account. Additionally, Chase extends eligible manufacturers’ warranties by an extra year on purchases with warranties of three years or less, offering peace of mind for major business purchases.

How the Chase Ink Business Preferred Compares to Other Business Cards

Vs. Chase Ink Business Cash

The Chase Ink Business Cash® is a solid alternative for small businesses that want to avoid an annual fee, but it offers lower rewards on most purchases. While the Ink Business Preferred earns 3X points on key business categories and includes strong travel protections, the Ink Business Cash is better suited for those who spend heavily at office supply stores and on internet, cable, and phone services, where it earns 5% cash back. However, its rewards are limited to cash back unless paired with another Chase Ultimate Rewards card that allows point transfers.

Vs. Chase Ink Business Unlimited

For businesses with varied spending across different categories, the Chase Ink Business Unlimited® provides a simple earning structure of 1.5X points on every purchase with no cap. Unlike the Ink Business Preferred, it doesn’t have bonus categories, making it a better option for businesses that don’t spend heavily in travel, advertising, or shipping. However, the Ink Business Preferred remains the stronger choice for those who want premium travel protections and higher-value Ultimate Rewards redemptions.

Vs. American Express Business Gold

The American Express Business Gold Card® offers a unique structure, earning 4X points in the top two categories where a business spends the most each billing cycle. This makes it more flexible than the Ink Business Preferred, but it also comes with a much higher $375 annual fee. While Amex points can be valuable when transferred to airline partners, the Ink Business Preferred provides stronger built-in travel protections and the ability to redeem points at a 25% bonus through Chase Ultimate Rewards. Businesses that prioritize flexible bonus categories may prefer the Amex Business Gold, while those seeking travel benefits at a lower cost may find the Ink Business Preferred to be a better fit.

Vs. Capital One Spark Miles for Business

The Capital One Spark Miles for Business® offers a simple earning structure of 2X miles on all purchases, making it appealing for businesses that don’t want to worry about category bonuses. However, while its flat-rate rewards are easy to use, the card lacks strong transfer partners compared to Chase Ultimate Rewards. The Ink Business Preferred also comes with better travel protections, including primary car rental coverage and trip cancellation insurance. Business owners who prioritize simplicity might prefer the Spark Miles card, while those looking for maximum value from point transfers and travel perks may favor the Ink Business Preferred.

Who Should Get the Chase Ink Business Preferred?

Best for:

This card is an excellent choice for small business owners who can maximize the 3X bonus categories, especially those with high expenses in travel, online advertising, and shipping. It’s also a great fit for business travelers who want flexible redemptions and strong protections. Additionally, those who can meet the $8,000 spending requirement within the first three months will benefit greatly from the lucrative 100,000-point welcome bonus.

Who Might Want to Skip It?

The Ink Business Preferred may not be the best choice for businesses with low monthly spending that struggle to justify the $95 annual fee. It also lacks premium perks like lounge access, so frequent business travelers who want luxury benefits might prefer a premium travel card. Additionally, businesses that spend more on everyday purchases rather than in the bonus categories may get better value from a flat-rate rewards card.

Conclusion – Is the Chase Ink Business Preferred Worth It?

The Chase Ink Business Preferred is one of the best business credit cards for entrepreneurs and small business owners who can take full advantage of its bonus categories, valuable travel perks, and flexible redemption options. With a generous welcome bonus and strong Ultimate Rewards transfer partners, it provides outstanding value for business owners who travel frequently or want to maximize their rewards.

If your spending aligns with the 3X categories and you plan to use the points for high-value travel redemptions, this card is a top contender. However, if you’re looking for lounge access or more premium travel perks, you may want to consider a higher-end business travel card.

Does the Chase Ink Business Preferred fit your business needs? Let me know your thoughts in the comments!

FAQ – Chase Ink Business Preferred

1. Is the Chase Ink Business Preferred worth the $95 annual fee?
Yes, if you spend heavily in the 3X bonus categories (travel, shipping, online advertising, and internet/phone services). The value from rewards, travel protections, and cell phone insurance can easily outweigh the annual fee. However, if your business spending is minimal or doesn’t align with these categories, a no-annual-fee card might be a better fit.

2. Do I need a registered business to apply for the Chase Ink Business Preferred?
No, you don’t need an LLC or corporation to apply. Sole proprietors and freelancers can qualify using their Social Security Number (SSN) instead of an Employer Identification Number (EIN). However, you should have legitimate business income or expenses.

3. How do Chase Ultimate Rewards points compare to other business rewards programs?
Chase Ultimate Rewards points are some of the most valuable in the industry due to their flexibility. You can redeem them for cash back, book travel with a 25% bonus through Chase, or transfer them at a 1:1 ratio to over 14 airline and hotel partners for potentially higher value. This makes them more versatile than fixed-value rewards programs.

4. Does the Chase Ink Business Preferred offer lounge access?
No, this card does not include complimentary airport lounge access. If you want this perk, you might consider a premium business card like The Business Platinum Card® from American Express, which includes Priority Pass lounge access and other travel benefits.

5. What happens if I exceed the $150,000 spending cap on 3X bonus categories?
Any spending above the $150,000 cap in the bonus categories will earn 1X points per dollar instead of 3X. If your business consistently exceeds this cap, you may want to pair the Ink Business Preferred with another card that earns a higher flat-rate return on purchases beyond the cap, such as the Chase Ink Business Unlimited (1.5X on all purchases).

The Chase Ink Preferred Credit Card offers fantastic rewards and benefits for business owners. It's a game changer for managing expenses and earning points effectively.

John D.

★★★★★