By now you’ve probably heard the news: Chase has come out with a new business card, Chase Ink Business Preferred. Chase has really been vamping up their credit card line-up to compete with American Express and the Chase Ink Business Preferred is no exception. But rather than pit this card against a competing bank, I think it’s worth noting how the Ink Preferred stacks up against its predecessor, the Ink Plus:
Sign-Up Bonus: Business Preferred at 80,000 Points
- Chase Ink Business Preferred — a sign-up bonus of 80,000 Ultimate Rewards points after $5,000 spent within 3 months.
- Chase Ink Plus — 10,000 – 30,000 points lower even at its highest offering.
With 80,000 Ultimate Rewards points, you can book yourself two nights at a top-tier Hyatt hotel, three round-trip tickets to anywhere in the US, or a one-way business class ticket to the Middle East. Not bad for a single credit card sign-up bonus!
Point Categories: Business Ink at 5X Points
- Preferred: 3x Points on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites and search engines.
- Plus: I already know what you’re thinking: “This is a downgrade over the 5x bonus offered on cable, internet, phone, and office supply store by the Ink Plus!”
Before you head to the comments section, consider this: while the Ink Business Preferred doesn’t pay out a bonus at office supply stores, you do get points on shipping, advertising and social media sites which will certainly come in handy for business owners.
Plus the 3X travel bonus rivals that of the Sapphire Reserve Card and it has a $95 annual fee, which is much lower than Sapphire Reserve’s $450.
And there’s another big benefit…
Spending Limit: Business Preferred at 150,000
- Preferred: 3x Multiplier on the first $150,000 purchases in a calendar year
- Plus: 5X Multiplier on the first $50,000 purchases in a calendar year
Ink Plus may have given you more points, but Ink Preferred gives you three times the limit.
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Ink Business PreferredSM Credit Card
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$95 annual fee
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Earn 80,000 bonus points. After you spend $5,000 on purchases in the first 3 months from account opening. Read Review » |
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Ink Business PreferredSM Credit Card |
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Bonuses: Business Preferred with $600 Cell Phone Protection
We’ve all done it (except for me): Stubbornly refused to get a cell phone case for that shiny new iPhone and then dropped it, shattering the screen and maybe even doing a little damage to the camera. Many premium credit cards offer some kind of protection if you used it to purchase the phone.
The Chase Ink Business Preferred goes a step further by offering up to $600 in damage and theft protection (after a $100 deductible) when you use the card to pay your cell phone bill. This benefit covers up to three claims per year for any cell phone lines on your account. Now that’s generous!
Travel Perks: A Tie With A 25% Point Bonus
The Ink Plus card also had this benefit, but it’s worth mentioning that it has transferred over to the Chase Ink Business Preferred card: Points earned with the Chase Ink Business Preferred card are worth 25% more when redeemed through the Ultimate Rewards travel portal. I’ve said before what an amazing value this can be, so be sure to take full advantage of this benefit whenever possible.
While comparing perks, it’s important to keep in mind that Chase may be imposing the 5/24 rule on applications for the Chase Ink Business Preferred card. And that no new applications for Ink Plus are currently being accepted. Still, there’s never been a better time to be a newbie to this hobby.
What do you think of the new Chase Ink Business Preferred Card? Will you be adding this card to your wallet any time soon?