There are more opportunities now than ever to use credit card rewards programs to travel very cheaply. One of our favorite travel rewards programs out there is Chase Ultimate Rewards, as it lets you redeem points you earn for flights, hotels, and even car rentals at a wide variety of partners.
To start earning Chase points, we recommend getting the Chase Sapphire Reserve or Chase Sapphire Preferred. Both have large sign-up bonuses that can easily cover the cost of a transcontinental flight or several nights at a hotel.
However, once you’ve exhausted the sign-up bonuses for Chase’s personal travel credit cards, what are you supposed to do next? You could turn your attention to a travel credit card from another card issuer such as Amex or Capital One. But what if you really like Chase Ultimate Rewards and want to stick to that program?
In this case, we recommend turning your attention to the world of business credit cards. Specifically, you should look into getting the Chase Ink Business Preferred. In addition to a large sign-up bonus, it also has a variety of compelling travel benefits.
In this guide, we’ll take a look at how the Chase Ink Business Preferred works. We’ll cover the card’s most exciting travel benefits, as well as how to qualify for a business credit card (even if you don’t think you have a “business”).
Ultimately, you’ll come away from the article able to decide if the Chase Ink Business Preferred is the right card for you.
5 Compelling Benefits of the Chase Ink Business Preferred
It might sound strange to hear that a business credit card is one of our top credit cards for travelers. However, that’s exactly the case with the Chase Ink Business Preferred. This card has some really exciting travel benefits.
Here are our favorites:
1. Earn 80,000 Bonus Points
Without a doubt, the best reason to look into the Chase Ink card is its high sign-up bonus. When you sign up for Chase Ink Business Preferred and spend $5,000 on purchases within the first 3 months, you’ll get 80,000 Chase Ultimate Rewards points.
You can then use these points to pay for just about any major travel expense you can think of. And with 80,000 points, you can think big. At current valuations, that’s enough points to pay for a roundtrip flight to destinations in Asia and even Oceania, and more than enough for a couple of roundtrip flights to Europe. This is one of the highest sign-up bonuses we’ve ever seen, so we recommend taking advantage of it while you can.
2. Get 3x Points on Travel and Business Spending
When we’re evaluating the best credit cards for travelers, we love to see cards that reward you for travel spending. The Chase Ink Business Preferred does just that, offering 3x points on any travel purchases you make with the card. In addition, the card will also earn you 3x points for spending in any of the following business categories:
- Shipping purchases
- Internet, cable, and phone services
- Advertising purchases made with social media sites and search engines
For all other purchases on the card, you’ll earn 1 point for every $1 you spend.
3. Low Annual Fee
For a premium travel credit card, the annual fee for the Chase Ink Business Preferred is quite low. At only $95 per year, it’s a fraction of the annual fee for some of our other favorite travel cards such as the Chase Sapphire Reserve and Amex Platinum (both of which have annual fees in the hundreds of dollars).
Plus, since this is a business credit card, you can likely deduct the annual fee as a business expense (though be sure to check with your accountant; we’re not tax professionals and do not offer tax advice).
4. 1:1 Points Transfer to Travel Partners
A hallmark of the Chase Ultimate Rewards program is that you can transfer your points to travel partners at a 1:1 rate. For instance, if you transfer 50,000 Chase points to your Southwest Rapid Rewards account, you’ll end up with 50,000 Rapid Rewards points.
The Chase Ink Business Preferred is part of the Chase Ultimate Rewards program, so this great point transfer deal will apply to any points you earn with the card.
5. No Foreign Transaction Fees
This isn’t exactly a novel feature of the Chase Ink (most travel credit cards these days don’t charge foreign transaction fees), but it’s still worth mentioning. No matter where in the world you use your Chase Ink Business Preferred, you’ll never pay foreign transaction fees. Did someone say, “Business trip to Croatia”?
How to Qualify for a Business Credit Card
Whenever we recommend a business credit card, someone will inevitably say, “But what if I don’t have a business? Can I still qualify?”
The short answer is: probably. At least, that’s the case if you understand that your definition of a “business” is likely much too narrow.
When you think of a business, you probably think of a company with an office and multiple employees. From a legal perspective, however, a “business” could be as simple as the money you earn doing odd jobs on the weekends, or basically any “side hustle” that you have (as long as you’re filing taxes for it).
You don’t need an office, employees, investors, or even an LLC. As long as you’re doing something with the aim of earning a profit, you have a business. And that business is enough to make you eligible for business credit cards such as the Chase Ink.
Also, bear in mind that while Chase will ask you questions about your business finances during your application, they’ll also take into account your personal income and credit history when determining if you’re eligible for the card. So if your business doesn’t make that much money, don’t worry.
For a more detailed explanation of how to apply and qualify for a business credit card, check out this guide.
Is the Chase Ink Business Preferred Worth It?
In the vast world of travel credit cards, is the Chase Ink Business Preferred the right card for you? We think that the answer is “Yes,” as long as:
- You can responsibly meet the minimum spend (discuss how it’s a bit higher than some other credit cards, though this makes sense given that it targets business owners).
- You have some sort of business (even just a basic sole proprietorship for your side hustle).
- You already have a personal Chase credit card.
Let’s take a look at each of these points in more detail:
1. You Can Responsibly Meet the Minimum Spend
To get the sign-up bonus for the Chase Ink Business Preferred, you need to spend at least $5,000 on the card within 3 months of opening it. This minimum spend amount is higher than that of other similar cards such as the Chase Sapphire Reserve, so you need to make sure that you can meet it without going into debt you can’t immediately pay back.
If spending $5,000 in 3 months is more than you can afford, this card is not for you. After all, it never makes mathematical sense to spend more than you can pay back just to get a credit card sign-up bonus.
2. You Have Some Sort of Business
While you don’t need a large, high-revenue business to qualify for the Chase Ink Business Preferred, you do need some kind of business. If you really don’t do anything outside of your regular job that would qualify as a business, then you won’t be able to qualify for this card.
Remember: even if you just mow lawns or shovel snow to earn some spare cash on the weekends, that qualifies as a business. So the odds are good you have (or can create) some kind of business activity that would make you eligible for this and other business credit cards.
3. You Already Have a Personal Chase Credit Card
If you don’t already have a personal travel credit card from Chase (either the Sapphire Preferred or Reserve), then we recommend applying for that before you get the Chase Ink Business Preferred.
Why? While the order in which you get the cards doesn’t matter, the Chase Sapphire Reserve and Preferred offer lots of consumer travel benefits that the Chase Ink does not. The Reserve, in particular, comes with some cool perks such as airport lounge access, a $300 travel credit, and reimbursement for the TSA PreCheck or Global Entry application fees.
For these reasons, it’s better to get one of Chase’s personal cards first. You can qualify based on your income and personal credit history, meaning there are fewer steps than getting a business card.
And given that the number of cards you’ve applied for recently affects whether or not Chase (and any other card issuer) will approve you for a card, it’s better to apply for the Reserve or Preferred first. This way, you don’t risk being denied for one of them just because you already applied for the Ink.
In sum: The Chase Ink Business Preferred is more of a “nice to have” travel card, while the Reserve and Preferred are “essential” travel cards in our opinion.
Take Your Travels to the Next Level with the Chase Ink Business Preferred
The Chase Ink Business Preferred is an excellent credit card to add to your wallet once you have either the Chase Sapphire Reserve or Preferred. The high sign-up bonus, travel rewards, and low annual fee make it an appealing way to earn some of the most valuable travel rewards points out there.
Learn more about the Chase Ink Business Preferred here.