Ink Business Preferred℠ Credit Card Review (2019.8 Update: 80k Offer)

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Ink Business Preferred℠ Credit Card‎ Review

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Benefits

  1. 80k offer: earn 80,000 Ultimate Rewards (UR) points after spending $5,000 within the first 3 months of card membership.
  2. We estimate that Ultimate Rewards (UR) points are worth about 1.6 cents/point, see below for a brief introduction. So the 80k sign-up bonus could be worth about $1280!
  3. If you have this card, you can transfer your UR points to partner airlines miles and hotel points.
  4. Earn 3x UR per $1 spent on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone services, and on advertising purchases made with social media sites and search engines each account anniversary year.  If you have a business that can max out these categories, that’s 450,000 UR per year!
  5. Earn unlimited 1x UR per $1 spent on all other purchases.
  6. Purchase Protection – Covers your new purchases for up to 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
  7. Primary car rental insurance. HOWEVER, unless you can prove that you are traveling on business (which you will be required to do in the case of a claim), you will be better using the primary car rental insurance on the Chase Sapphire Preferred or the Chase Sapphire Reserve.
  8. [New] Get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Chase Ink Business Preferred credit card.
  9. [New] Refer a friend: You can earn 20,000 bonus UR points for every approved account you refer, up to a maximum of 100,000 UR points per calendar year.
  10. No foreign transaction fee.

Disadvantages

  1. Annual fee of $95. The fee is no longer waived if you apply in-branch.

Introduction to UR Points

Recommended Application Time

  1. [5/24 Rule] If you have 5 or more new accounts opened in the past 24 months, Chase will not approve your application on this card, no matter how high your credit score is. The number of new accounts includes all credit card accounts, not only Chase accounts. See this post for details about how to possibly bypass this rule.
  2. You are not eligible for this sign-up bonus if you received a sign-up bonus on this card within 24 months. Note that what this 24-month clock starts from when you last got the sign-up bonus, not the time you open the account or close the account.
  3. Don’t apply for more than 1 Chase business credit cards within 30 days, it’s highly likely that you will get rejected.
  4. We recommend that you apply for this card after you have had a credit history for more than a year.

Summary

The sign-up bonus is the most lucrative part of this card. If you have a business that is able to max out the 3x UR earning categories to earn an extra 450,000 UR per year, this card is a no brainer. However, I imagine many will struggle to find a place for this card in their wallet after earning the sign-up bonus. Note that unlike the Chase Ink Plus (discontinued) or the Chase Ink Cash, the Chase Ink Preferred does not earn 5x at office supply stores. However, you can product change the Ink Preferred to an no-annual fee Ink Cash.

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Recommended Downgrade Options

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