What is the average credit score needed to get approved for the Chase Ink Business Preferred card?

The minimum credit score to be eligible for the Chase Ink Business Preferred card is in the high 600’s.

Does the Chase Ink Business Preferred card report to all three credit bureaus?

Yes. The Chase Ink Business Preferred card reports to all three credit bureaus.

Is the Chase Ink Business Preferred application process lengthy? Can you prequalify?

You cannot get pre-approval for the Chase Ink Business Preferred card. It typically takes up to 15 business days for a decision, although some applicants may be approved almost instantly after submitting their application.

What information is needed to apply for the Chase Ink Business Preferred card?

You need to provide personal information (name, date of birth and Social Security Number) and contact information (residential address, email address and phone number). Since you are applying for a business card, you will also have to provide details of your business (business category, Employer Identification Number and NAICS code) and financial information (annual income and estimated monthly spend) to apply.

Does the Chase Ink Business Preferred card have good customer service or satisfaction?

Chase is renowned for its customer service, and the Ink Business Preferred card is one of the best options for small businesses.

Does the Chase Ink Business Preferred card have a mobile app or the option to pay or manage your account online?

Yes. You can use the Chase mobile app to make payments, check your spending summary and manage other aspects of your credit card.

Does Chase Ink Business Preferred raise credit limits automatically or charge for limit increases?

Like many other banks, Chase will[ automatically raise your credit limit](https://www.moneygeek.com/credit-cards/advice/increase-credit-limit-with-chase/) if you are using it responsibly. This means paying your entire balance on time regularly. The credit limits are generally increased every six to 12 months based on performance.

Does the Chase Ink Business Preferred card offer the option to freeze your credit/account or have other security features?

Yes. You can instantly block purchases, cash advances and balance transfers if you misplace your card or detect any suspicious activity on your card.

Does Chase offer other credit cards besides the Chase Ink Business Preferred card?

Yes. Chase offers other credit cards such as the Chase Ink Business Cash card and the Chase Ink Business Unlimited card.

MoneyGeek's Take

Chase Ink Business Preferred Review

The Chase Ink Business Preferred credit card offers exceptional value for small businesses. It comes with 3x rewards points for spending in multiple categories and offers additional travel and business management benefits for business owners.

Advertising & Editorial DisclosureLast Updated: 7/5/2022

Reviewed By

Alene Laney

Last Updated: 7/5/2022

Our review of the Chase Ink Business Preferred credit card covers all the pros and cons of the card. It highlights the specific benefits that cardholders can take advantage of, including sign-up bonuses, annual fees, redeeming points and cash back offers. Businesses can also benefit by transferring the points to Chase’s travel partners or by redeeming the points directly for bookings made through the company’s travel portal.

Card Details to Know Up Front

Bonus, Fee or Feature
Has or Not
Has Annual Fee
Has Balance Transfer Offer
Has APR Offer
Cash Back Rewards
Travel Rewards
Hotel Benefits
Airline Benefits
Has Rewarding Welcome Offer
Has Foreign Transaction Fee
Credit Needed
Good-Excellent

Click to see this card’s rates, fees and how they compare to other cards in our dataset.

OUR REVIEW AT A GLANCE

Credit Card Details at a Glance
Pros & Cons Explained
Bonuses & Rewards Explained
Our Verdict: Is This Card for You?

Chase Ink Business Preferred at a Glance

The Chase Ink Business Preferred credit card gives users a generous sign-up bonus and covers an extensive list of spending categories. This card offers additional rewards when used to book hotels and flight tickets. It is a great choice for companies that do a lot of business travel, internet advertising or have a lot of shipping expenses.

Ink Business Preferred® Credit Card
A great business card with sign-up bonuses and no foreign transaction fees
- Good-ExcellentCredit Needed
- $95Annual Fee
- 1–3 Points per $1Rewards Rate
- 3xRewards Rate on TV, Phone, Internet Services
- 3xRewards Rate on Air Travel
Pros
Earn 1 point per $1 across all categories
Earn unlimited points that don't expire for the life of your account
Redeem points in different ways, including cash back
No international transaction fees
Travel and purchase covers

Cons
Balance transfer and cash advance fees can be up to 5%
High annual fees
Penalty APR may apply when you make a late payment
Redeem rewards as cash back, toward travel expenses, to purchase gift cards or at the Chase Ultimate Rewards Store.
Use the 1:1 points transfer system to transfer your points to different airline and hotel travel partners.
The 100,000 points intro bonus translates to $1,000 cash back or $1,250 toward travel rewards through Chase Ultimate Rewards.
You and your employees may use this card globally without paying any international transaction fees.
Set individual spending limits for employee cards.
Earn up to 100,000 points per year by referring other businesses.
All cardholders get access to trip cancellation/trip interruption insurance, roadside dispatch, auto rental collision damage waiver, cell phone protection, purchase protection and extended warranty protection.
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Compare this credit card with other top-rated travel rewards cards.

Pros & Cons Explained

While the benefits offered by the Chase Ink Business Preferred card warrant consideration, it is important to take a look at some of its drawbacks as well.

Pros

Benefits
Description
Sign-up bonus
Once your card is active, you will be eligible to earn a welcome bonus of 100,000 points after you spend $15,000 in the first three months. These bonus points amount to at least $1,250 in value when redeemed through Chase Ultimate Rewards travel portal.
Bonus category rewards
Small business owners will find this card immensely beneficial as it offers multiple bonus categories with 3x rewards points for every dollar spent. These categories include travel, internet, cable and phone services and advertising purchases on social media sites and search engines.
No international transaction fees
If your business involves significant international travel, you will benefit from the zero foreign transaction fees that this card offers. You can save up to 3% on each transaction completed using this card as compared to other cards on the market.

Cons

Drawbacks
Description
High annual fee
Unlike other business credit cards offered by Chase, the Chase Ink Business Preferred has an unusually high annual fee of $95.
No introductory APR offer
Just like the annual fee, this is the only business credit card offered by Chase that does not provide a zero APR period. This means that any purchases made using this card will start accruing interest instantly.
Limited bonus categories
Although the card offers 3x points across multiple categories, those categories may not work for the typical expenses of every business.

LOOKING FOR THE BEST CREDIT CARDS OF 2022?

The Chase Ink Business Preferred credit card was selected as one of our best business credit cards of 2022. You can read our full review to know more about all the available options.

Bonuses & Rewards Explained

The Chase Ink Business Preferred credit card has a 100,000 point welcome offer after spending $15,000 within the first three months of account opening. Using the card to reach the spending requirement will also earn you anywhere between 15,000 and 45,000 points.

You may also utilize the points to buy gift cards of your choice from any of the 150 top stores or in the Apple Ultimate Rewards Store. However, the best option to redeem these points would be to use them to book business travel with Chase Ultimate Rewards. You can pay for rental cars, flights or hotels through Chase. You can even transfer them to Chase's wide network of travel partners.

The company even offers unlimited free employee cards to small businesses that have several employees to help meet the spending requirement.

3x points categories

With this card, you can earn 3x points for every dollar spent on the first $150,000 in purchases on travel, internet, cable and phone services and advertising purchases made through search engines.

Excellent point redemptions

You can choose one out of the several options to redeem your rewards points from Chase. Points redeemed through Chase Ultimate Rewards are worth 25% more when used for travel. Cardholders also have the option of transferring points to travel partners for redemptions.

Cash back

The welcome offer of 100,000 bonus points can be redeemed either as cash back for $1,000 or as $1,250 for travel rewards when you redeem your points through Chase.

>>MORE: CHASE ULTIMATE REWARDS: PROGRAM GUIDE

Other Features Explained

The Chase Ink Business Preferred credit card gives you the ability to earn plenty of rewards points along with many other perks.

Card Feature
Description
Trip cancellation or interruption insurance
If you must cut a trip short due to a listed reason such as illness or severe weather, you are eligible for reimbursement of up to $5,000 per person with a limit of $10,000 per trip.
Rental car insurance
If you use this card to pay for your business rental car, you are eligible for rental insurance that covers the vehicle's actual cash value.
Cell phone protection
When you pay your cell phone bill using the Chase card, you get $600 worth of coverage per claim in case your cell phone is damaged or stolen. This protection also extends to employees who are included in your cell phone plan.
Extended warranty protection
You will get an additional year of warranty for items that offer a U.S. manufacturer’s warranty of three years or less.
Business monitoring
You can track the spending patterns of your business as well as protect your interests with the fraud protection, purchase protection, account alerts and other features that this card provides.
Free employee cards
You can get employee cards at no additional cost with your Chase Ink Business Preferred card. Purchases made by your employees help you earn rewards on your account, though you can set spending limits for employee cards.

MONEYGEEK EXPERT TIP

"This card makes a lot of sense for online businesses. The 3x bonus categories for travel, advertising, shipping, phone, cable, and internet services can build up your stash of Ultimate Rewards for products you advertise and sell online." - Alene Laney, Credit Card Journalist

Understanding the Fine Print

The earning rates and redemption options offered by this card make it highly rewarding. There are also other specific charges that you must consider.

Card Feature
Amount or Rate
APR
15.99%–20.99%
Annual Fee
$95
Cash Back Rewards
Rewards Rate
1–3 Points per $1
Airline Benefits
Rewards Rate on Groceries
1x
Rewards Rate on Gas
1x
Rewards Rate on Dining
1x
Rewards Rate on Entertainment
1x
Rewards Rate on Online Shopping
1x
Rewards Rate on TV, Phone, Internet Services
3x
Rewards Rate on Air Travel
3x
Rewards Rate at Hotels
3x
Balance Transfer Fee
5%
Balance Transfer APR
15.99%–20.99%
Late Fees
$40.00
Cash Advance Fee
5%
Cash Advance APR
24.99%
Foreign Transaction Fee
None

Annual Fee
There is a $95 annual fee for this card.
Regular APR & Cash Advance APR
The Chase Ink Business Preferred card offers a considerably high regular APR that varies between 15.99%-20.99% for purchases. The cash advance APR for the card is even higher at 24.99%. The APRs for the balance transfers and cash advances start accruing interest from the date of the transaction.
Balance Transfer APR & Fees
The card offers a variable balance transfer APR between 15.99%-20.99%. If you choose to utilize this APR for a balance transfer, you will have to pay a fee of either $5 or 5% for each transfer, whichever is higher. This means if you transfer a balance of $1,000 from your previous credit card, you'll end up paying $50 in balance transfer fees.
Rewards Rate
You earn 3x points when you use your card for travel and to pay for internet, cable and phone services or when you make advertising purchases on social media sites and search engines. You earn 3x rewards points on these spending categories up to $150,000 and 1 point for every dollar spent in other categories. Redemption options are flexible.

FINDING YOUR CARD'S RATES AND FEES

When comparing this card with other cards for small businesses, it is important to consider the APR and other related fees. If you want to compare the benefits with a card you already have, you can do so by checking the last billing statement of your existing card or your card provider's website or app. You can also find information on the credit card agreement database maintained by the Consumer Financial Protection Bureau (CFPB).

Who Should & Shouldn’t Consider Chase Ink Business Preferred?

Other Considerations for Chase Ink Business Preferred

Before you decide whether the Chase Ink Business Preferred card is ideal for you or not, you must evaluate the purposes for which you will use the card. Another important factor to contemplate is whether you are going to use it as a standalone card or along with other cards.

Things to Consider if This Will Be Your First or Only Credit Card

If this is the first or the only card that you plan to use, then you must be cognizant of the high APR when using the card for purchases. You might end up with substantial interest charges if you do not pay your balances within the same month.

If you think that the spending categories that provide 3x rewards points will be useful for your business, it could be a significant value add. You must have good credit to be eligible for this card.

Things to Consider if This Will Be an Additional Card in Your Wallet

If you want to use this card in addition to existing cards, ensure that you meet Chase’s 5/24 rule. If you already have five or more credit card accounts elsewhere (including non-Chase accounts), you will probably be declined irrespective of your credit score.

As an additional card with no international transaction fees, the Chase Ink Business Preferred card is perfect for international travel, though you must keep in mind the high APR even in such scenarios.

WHY TRUST OUR REVIEWS

At MoneyGeek, we have a well-balanced process to review credit cards. Our practices include collating information from the Consumer Finance Protection Bureau’s database, regularizing data points for an accurate comparison, understanding the value provided by the product over a sustained period and ensuring timely reviews.

How Chase Ink Business Preferred Compares to Other Cards

While the Chase Ink Business Preferred card is worth considering, there are other options business owners can consider. We looked at some other credit cards in the same category to give you an idea of how it stacks up against the competition.

In-Depth Credit Card Comparisons:

Quick Comparison of Chase Ink Business Preferred

Chase Ink Business Preferred

Annual Fee: $95
Purchase APR: 15.99%-20.99%
International transaction fee: $0
Rewards rate on travel & hotels: 3x
Mini verdict: Best for small businesses that involve frequent travel

American Express Business Gold

Annual Fee: $295
Purchase APR: 14.24%-22.24%
International transaction fee: $0
Rewards rate on travel & hotels: 1x
Mini verdict: Best for businesses that can be flexible with the rewards categories

Other Helpful Decision-Making Q&As

Having to choose one credit card out of the many options available in the market can be daunting. Knowing the answers to some of the most frequently asked questions about the Chase Ink Business Preferred card can help you make the right decision.

Still not sure about this card? Consider these options.

If you are still considering alternate options for your business needs, you can explore other business credit cards and their offerings. If you are looking for higher rewards for credit card usage, it might be a better option to choose one with lucrative cash back rewards.

View All Credit Cards

Learn more about credit cards in general

sources

Chase. "Ink Business Preferred Credit Card from Chase." Accessed September 2, 2021.
Consumer Finance Protection Bureau. "Credit card agreement database." Accessed September 2, 2021.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
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