Get your finance in order, with wealth management's must-read stories everyday!

How The Ink Business Preferred Is Now Within Reach Of Smaller Businesses

Triston Martin

Feb 28, 2024

The Ink Business Preferred Credit Card is a terrific all-purpose business credit card. On a range of business expenses, you can accrue significant Ultimate Rewards points, and it provides a big sign-up bonus. The Ink Business Preferred is usually ranked as one of the best business rewards credit cards because of its attractive sign-up bonus and generous rewards on the most significant company purchases.

On the other hand, smaller businesses have historically found it challenging to earn a profit because of the stringent spending requirements for the card's welcome bonus. According to a recent statement by Chase, the expenditure cap has been almost halved. As a result, it will be easier for small business owners to use.

Here are the changes and additional benefits of the Ink Business Preferred that you should be aware of.

' Ink Business Preferred Bonus

Currently, The Ink Business Preferred offers 1 lac points after eight thousand dollars in purchases within the first three months of opening an account.

For freelancers and other self-employed people, that amount of spending might still equal $2,667 each month. The prior fifteen thousand dollar threshold was five thousand dollars each month, significantly higher than the current one.

Categories of Ink Business Preferred Bonus

The Ink Business Preferred card offers a hefty welcome bonus and 3 points and 1 point for every dollar spent on travel and specific business categories up to one million fifty thousand dollars annually.

Although the default rewards rate is low, effective financial management by your business can result in quick point accumulation. To maximize benefits, consider combining the Ink Business card with a different Chase card earning Chase Rewards, which go beyond the bonus categories it offers.

Outstanding Benefits of Ink Business Preferred

The crucial benefits and generous rewards of the Ink Business Preferred have become indispensable to businesses. The card's benefits surpass the $95 annual charge, which some people may find excessive. The advantages of choosing an ink business are as follows.

We'll also review how these attributes have made the card a valuable and worthwhile option for smaller businesses.

'Flexible Reward Redeeming

Chase Ink Business Preferred customers have unequaled flexibility when utilizing their points for purchases. In particular, if you book your trip through Chase's gateway, you'll get a 25% incentive. As a result, when used to make purchases, each point will be worth 1.25 cents.

Using this card, you can transfer your earned points to any 13 hotels and airlines that Chase works with. Trip redemption values can now be made even more valuable. British Executive Club and United MileagePlus are just a few of the prestigious partners. With so many redemption alternatives available, smaller businesses may now increase the value of their incentives and reap more significant rewards.

Travel Benefits

The Ink Business Preferred Credit Card provides various travel insurance and purchase insurance features in addition to its appealing rewards program, which could be helpful in an emergency.

Protection for Cell Phones: You will receive up to one thousand dollars in protection against losing or breaking your phone if you pay your phone bill using your card. However, remember that there is a 3-claim limit every fiscal year, with a $100 deductible on each claim.

Insurance for Trip Interruption and Cancellation: If your trip is canceled or shorted for a covered reason, you are entitled to compensation for prepaid, non-refundable travel expenses up to five thousand dollars per person.

Prolonged Warranty Protection: When you use your card to make an eligible purchase, the manufacturer's warranty will be extended by one year if the item still has three years left on its original warranty.

Vehicle Collision Damage Insurance: You will still be protected even if you decide against the collision damage waiver provided by the rental company when renting a car. The policy takes precedence if you need to borrow the vehicle for work.

Highway Shipping: In a highway emergency, Chase's benefits administrator can provide support with a tow, lead-off, tire change, lockout service, winching, or gas delivery. When you contact them, you will be given a price for roadside assistance, and your card will be charged.

Purchasing Insurance: You are covered against damage or theft for up to 120 days after the transaction for qualified items you purchase with your card.

How Small Businesses Can Boost Their Chances of Being Accepted for Ink Business Preferred

Applying for the Ink Business Preferred, consider your acceptance chances. Taking the actions on the following list will increase your chance of acceptance:

Check Your Credit: If you have a personal FICO score of 670, you are eligible for the Ink Business Preferred, a loan program for business holders with excellent or strong redit. Check your score to find out if you're ready to go or need to take any further action.

Examine Your Credit Reports: If your credit score is at or below the 670 level, it could be a good idea to improve it before applying. Take a copy of your reports, check them for any issues, and take care of them. You could take action like making up any missed payments, paying down a sizable credit card balance, or disputing inaccurate information on your credit report.

Call the Chase Revision: If your application was rejected, you might want to contact Chase. You can argue your position and obtain a thorough justification for the denial of your application. You might be inflexible for certain reasons while being flexible for others. A portion of your credit line from another card may be transferred to the new one if, for instance, you have too much available credit with Chase.

Contrasting the Ink Business Preferred with other popular business credit cards can also be a good idea to ensure that it is your best choice. Consider initial bonuses, rewards programs, perks, yearly fees, and other features because they will all be important to you and will help you choose the best business credit card.


The Ink Business Credit Card, previously favored by big businesses, is now available to small businesses. For the benefit of companies of all sizes, it provides a wide choice of reward redemption options, including travel and shopping privileges and money-saving alternatives like no foreign transaction fees. By correctly utilizing the Ink Business Preferred card, small companies can increase rewards and financial stability. Smaller businesses can purchase goods and insurance and travel internationally using the Ink Business Preferred Credit Card.

Related Stories

Privacy Policy | Terms of Use

© 2023

Contact us at: [email protected]