Chase Ink Business Preferred Card Review

While both of these are Chase Ink cards for businesses, which one is right for you may depend on the needs and spending habits of your business, as well as whether you prefer to earn rewards as points or cash back.

Annual fee: The Ink Business Preferred Credit Card has a $95 annual fee, while Ink Business Cash Credit Card has no annual fee.

Rewards: The Ink Business Preferred Credit Card earns three points per dollar on the first $150,000 spent annually on combined purchases in shipping; travel; internet, cable and phone services; and advertising purchases made with social media sites and search engines. It earns an unlimited one point per dollar after that.

Ink Business Cash Credit Card earns cash back rather than points. It earns 5% cash back on the first $25,000 spent annually on combined purchases at office supply stores and on internet, cable and phone services; 2% cash back on the first $25,000 spent annually on combined purchases at gas stations and restaurants; and unlimited 1% cash back on all other purchases.

Sign-up bonus: The Ink Business Preferred Credit Card holders can earn 100,000 bonus points – that’s $1,000 in cash back or $1,250 toward Chase Ultimate Rewards travel rewards – after spending $15,000 within three months of opening the account. Ink Business Cash Credit Card holders can earn $750 bonus cash back after spending $7,500 within three months of opening the account.

Benefits: Both cards offer benefits including an auto rental collision damage waiver, roadside dispatch, purchase protection and extended warranty protection. Ink Business Preferred Credit Card does have some additional benefits that Ink Business Cash Credit Card doesn’t: cellphone protection, and trip cancellation and interruption insurance.

Both of these business credit cards earn points for purchases. Potential cardholders should weigh spending habits for their business, as well as the annual fee, when considering whether one of these cards is the right fit.

Annual fee: The Ink Business Preferred Credit Card has an annual fee of $95, while The Business Platinum Card from American Express has an annual fee of $695 (See Rates & Fees).

Rewards: The Ink Business Preferred Credit Card earns three points per dollar on the first $150,000 spent annually on combined purchases in shipping; travel; internet, cable and phone services; and advertising purchases made with social media sites and search engines. It earns an unlimited one point per dollar after that.

The Business Platinum Card from American Express earns five points per dollar on flights and prepaid hotels on AmExTravel.com, 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year. Cap applies. Earn one point per dollar on other eligible purchases.

Sign-up bonus: Ink Business Preferred Credit Card holders can earn 100,000 bonus points after spending $15,000 within three months of opening the account. The Business Platinum Card from American Express cardholders can earn Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.

Benefits: Both cards have trip cancellation and interruption insurance, cellphone protection, extended warranty, and purchase protection. The Business Platinum Card from American Express has additional benefits, including a fee credit for Global Entry or TSA PreCheck, access to the American Express Global Lounge Collection, and up to $200 in qualifying airline fee credits each year.

With triple the rewards on bonus categories, the card could be a good choice for business owners who spend a lot in those areas. But larger firms that spend much more than $150,000 may consider the cap on bonus rewards a deal breaker. Also, remember that the card’s annual fee and any interest charges you incur can eat into the value of your rewards.

As a new card user, you can get a head start on your next vacation or business trip by earning 100k bonus points after you spend after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®.

You can also use your points to shop at Amazon.com, but they’re only worth 0.8 cent each when redeemed that way.

Q: Which Chase Ink Card Is the Best?
A: Each Chase Ink card offer is unique. The best Chase Ink card for you will depend on whether you want to pay an annual fee, if you need an introductory APR and the rewards categories where your business spends the most.

Q: Can I Get Chase Ink Without a Business?
A: You must own a business to qualify for a Chase Ink business card. You’ll be asked for your business tax identification number when you apply. However, you can use your Social Security number as your tax ID if, for example, you’re a freelancer or sole proprietor.

Q: Is the Ink Business Preferred Credit Card a good credit card?
A: The Ink Business Preferred Credit Card might be a good credit card for business owners who don’t mind paying the card’s annual fee and plan to maximize the bonus points they earn when making purchases. It might especially be good for cardholders who plan to redeem points for travel with Chase Ultimate Rewards. U.S. News rates this card 4.25 out of five stars in its Business Credit Cards category.