Chase Ink Business Preferred benefits guide: Get the most from your card

Learn more: Our picks for the best business credit cards.

What follows are some of the top Chase Ink Business Preferred benefits prospective and current cardholders should know about.

Rewards earning potential

One of the main benefits you can maximize with the Ink Business Preferred is earning Chase Ultimate Rewards points on purchases. You will earn 3x points per $1 (up to $150,000 combined) spent on shipping purchases, internet, cable, phone, and advertising with social media sites and search engines. You’ll earn 1x point per $1 spent on all other purchases. And, until March 31, 2025, you will earn 5 points per $1 on Lyft rides. 

The Chase Ink Business Preferred is a stellar choice for a small business with significant yearly purchases in these categories. If your expenses fall into other categories, you might prefer a different card with a rewards program more tailored to the way your business spends. 

If you do open an Ink Business Preferred, you can earn 120k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That’s $1,200 cash back or $1,500 toward travel when redeemed through Chase Travel℠. Assuming you can meet this threshold, 100,000 points is a rewards windfall you can redeem toward your business’ travel needs or even just as straightforward cash back. 

Travel benefits

The Chase Ink Business Preferred is ideal for businesses that require you to travel frequently for work. Ultimate Rewards are a coveted, flexible rewards currency that you can transfer to airline and hotel partners or redeem for bookings via Chase Travel. 

Plus, thanks to the Ink Business Preferred’s robust list of protections, you’ll enjoy plenty of travel coverage if something were to happen while you’re on the road. 

Transfer partners and travel portal redemptions

While points are usually worth 1 cent each as cash back, you can get 25% more when you redeem for travel through Chase Travel℠. You can also transfer your points to more than a dozen airline and hotel loyalty programs at a 1:1 ratio. For those willing to spend a little time searching award travel deals, this is often a good way to maximize the value of your rewards. 

Plus, booking directly with the airline or hotel allows you to leverage any status benefits you have with that program, whereas booking in Chase’s portal typically does not. 

You can transfer your points to the following airlines and hotels:

• Aer Lingus AerClub
• Air Canada Aeroplan
• British Airways Executive Club
• Emirates Skywards®
• Flying Blue AIR FRANCE KLM
• Iberia Plus
• JetBlue TrueBlue
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards®
• United MileagePlus®
• Virgin Atlantic Flying Club
• IHG® One Rewards Club
• Marriott Bonvoy®
• World of Hyatt

No foreign transaction fees

The card does not charge foreign transaction fees, so you can use it when business takes you abroad without worrying about an additional expense being tacked on to every purchase. 

Travel coverage

The Chase Ink Business Preferred provides valuable travel protections. 

To start with, you can have peace of mind knowing trips you’ve booked with the card receive trip cancellation and interruption insurance—which covers up to $5,000 per person and $10,000 per trip if it is canceled or interrupted because of sickness, severe weather, and other covered situations. Covered expenses include non-refundable flights, tours, and hotels. 

You can also enjoy a primary auto rental collision damage waiver, which protects you in case of theft or collisions when renting a car for business. 

Business benefits

A solid business credit card should provide benefits that make accounting more efficient and protection for purchases made using the card. The Ink Business Preferred fits that bill. 

Here are some of the benefits you as a small business owner can enjoy. 

Build business credit 

Business and personal credit are separate, so having a business credit card can be part of the puzzle when seeking to build a positive credit history. (Though by itself having a business card is not enough; you’ll want to have established your business as a separate entity, gotten an Employer Identification number from the IRS, and registered for a Dun & Bradstreet number). 

In the future, if you need a loan, having a good business credit score can be helpful. 

Learn more: Which business credit cards report to Dun & Bradstreet?

Even if you don’t have employees and are a freelancer, you’ll appreciate being able to separate your business and personal expenses. When it comes time to file taxes, keeping things separate makes accurate reporting much easier. 

Accounting tools

Chase Ink provides useful insights for your business, including quarterly reports to help you manage your finances more effectively. You can also integrate the card with bookkeeping software, making it easier than ever to keep track of your expenses. 

Free employee cards

You can get employee cards at no additional cost, so you can earn points on employee spending as well as your own. You can also set individual spending limits on these cards to help safeguard against purchases you haven’t authorized your employees to make. 

Purchase protection

If you pay a monthly cell phone bill for yourself or your employees using your card, you are covered up to $1,000 per claim against theft or damage. You can make a maximum of three claims in 12 months and are subject to a $100 deductible per claim. 

In addition, the Chase Ink Business Preferred covers new purchases for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account. For purchases that come with an eligible U.S. manufacturer’s warranty, your card extends the manufacturer’s warranty by an additional year on warranties of three years or less. 

The takeaway

The Chase Ink Business Preferred comes packed with benefits in exchange for a modest $95 annual fee. To maximize the card’s benefits, you’ll want to ensure your spending aligns with the bonus earning categories and that you can meet the spending requirement to earn the welcome offer. 

If you have either of the personal Chase Sapphire credit cards (the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®), you’re already familiar with Chase’s popular Ultimate Rewards program. As such, you’ll be able to take advantage of the elevated value from using points to book through the Chase Travel portal and the opportunity to transfer points to partners.

In short, if you’re looking for a travel business card that offers practical business benefits at an affordable cost, the Ink Business Preferred is an attractive option. But, if you don’t travel for work, these benefits might not provide much utility—and you’d likely be better off with a different card more suited to your needs. Consider the Ink Business Unlimited in that case, with its $0 annual fee and unlimited flat-rate rewards on all spending.

Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.