Chase Ink Business Preferred Review: Hot New Credit Card

Businessman putting credit card in pocketChase Bank is at it again. After releasing the highly sought after Chase Sapphire Reserve travel rewards card, this bank is at it again with a new business credit card. Last month, Chase announced the Ink Business Preferred credit card and the card’s benefits have yet again blown people away. Chase is the commercial banking branch of JP Morgan Chase, the largest investment bank in the world. Because of this, the company is able to offer sometimes astounding financial products. Even after wowing consumers with the Chase Sapphire Reserve credit card a few months ago, Chase has outdone itself yet again.

Earn 3x Bonus Points for Business Purchases

As the name of the card implies, this credit card caters to businesses and business-minded people. The Ink Business Preferred Card offers a staggering 3x points per $1 on the first $150,000 spent towards select categories. Because the card is business focused, these categories are: Travel, shipping purchases, bills such as internet, cable and phone services, and advertising purchases made with social media sites and search engines. The potential of this card for entrepreneurs and small business owners is enormous. Not only is the reward multiplier high, it extends all the way out to $150,000 in purchases. Moreover, the categories these bonus points apply to are perfect for a multitude of businesses.

Get 80,000 Bonus Points worth $1,000

Like most other credit cards, the Ink Business Preferred card offers a chance at early bonus points. If customers spend $5,000 on purchases in the first 3 months after opening an account, they will receive 80,000 bonus points. Chase claims this is a $1,000 value. All of the points earned on the Ink Business Preferred card are considered Chase Ultimate Rewards points. When points are redeemed through the Chase Ultimate Rewards platform, they go 25 percent further as part of a built-in feature of the platform. So not only can you rack up points on a multitude of business purchases, but then those points will go an extra 25 percent further. The points also never expire.

Other Fees and Benefits

Just like many of Chase’s new premium credit cards, there are no foreign transaction fees on the Ink Business Preferred. Additionally, there is a $95 annual fee. This fee is steep, but considering the benefits of this card, it is understandable. Anyone who uses this card at a healthy pace for business activities could easily recoup the $95 annual fee in other benefits, and even blow way past the $95 mark quickly. The card also allows the primary account owner to add employee cards to the account, which can rack up points even more quickly. Finally, the Ink Business Preferred credit card offers all of the typical features of a premium credit card: extended warranty protection, trip cancellation and interruption insurance, purchase protection and others.

Easily Recoup the $95 Annual Fee

While this credit card has a steep annual fee, the amazing benefits of the card could be utilized to overcome this charge with relative ease. It appears that Chase is attempting to appeal to the new younger generation of entrepreneurs. This group tends to travel quite a bit, rely on social media and internet advertising to help gain new customers and oftentimes participates in startup culture, which requires various services like internet and phone service packages. Additionally, Chase allows the account holder to add employees to the account, which broadens the cards use to a significant extent.

What do you think about the new Ink Business Preferred credit card?

Posted on November 22, 2016 by in Credit Cards,

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