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Annual Fee: $95
Earn 120,000 bonus points after spending $8,000 in the first 3 months from account opening. That's $1,200 cash back or $1,500 toward travel when redeemed through Chase Travel℠.
Earn 120,000 bonus points after spending $8,000 in the first 3 months from account opening. That's $1,200 cash back or $1,500 toward travel when redeemed through Chase Travel℠.
This is just a great all around business card. For a low annual fee, the welcome offer is very generous. Just keep in mind that in order to reach the minimum spend, you'll need to make an average of around $2,667 in purchases each month. This might be nothing for a small business, but if you're an independent contractor or freelancer, make sure this is doable for you. We also can't forget to mention how valuable earning Chase Ultimate Rewards® are because of the program's transferability to a handful of different airline and hotel partners.
[.redeem] 5x [.redeem]per $1 on Lyft rides through March 2025
[.redeem] 3x [.redeem]per $1 on the first $150,000 spent on total purchases for these categories each year (then 1X per $1 after): shipping purchases, advertising purchases, internet, cable, and phone services, and travel
[.redeem] 1x [.redeem]per $1 on all other purchases
And, your points don't expire as long as your account is open.
🏆 Daily Drop's Most Popular Card
🏆 Daily Drop's Most Popular Card
Annual Fee: $95
🏆 Best for flexible bonus earning
🏆 Best for flexible bonus earning
Annual Fee: $375
Annual Fee: $95
Earn 120,000 bonus points after spending $8,000 in the first 3 months from account opening. That's $1,200 cash back or $1,500 toward travel when redeemed through Chase Travel℠.
The Chase Ink Business Preferred is a fantastic, well-rounded business card with a low annual fee. In addition to consistently having a solid welcome offer that punches above the card’s own weight, the real highlight here is the earning rates. One of my favorite aspects of the Chase Sapphire Reserve® is that it earns 3x Ultimate Rewards on all travel purchases. The Ink Business Preferred, however, accomplishes the same with a much more reasonable annual fee. If you have a small business, this card is a must-have for your wallet!
💡 And if you’re turned off by the word “business” being in the card name, check out this article which helped thousands of Daily Drop readers open business cards last year. 😉
Or if you'd rather learn by watching, Brendan will give you a breakdown of all the card's best features in our latest YouTube video.
[.pro]With this card, you’re getting at least $1,200 in value on a $95 annual fee, which is pretty crazy.[.pro]
[.pro]You’re still locked into the world of Chase Travel℠, which provides immense flexibility.[.pro]
[.pro]You can earn extra points on categories like shipping, advertising, and (our favorite) travel.[.pro]
[.con]This card does come with a $95 annual fee.[.con]
[.redeem] 5x [.redeem]per $1 on Lyft rides through March 2025
[.redeem] 3x [.redeem]per $1 on the first $150,000 spent on total purchases for these categories each year (then 1X per $1 after): shipping purchases, advertising purchases, internet, cable, and phone services, and travel
[.redeem] 1x [.redeem]per $1 on all other purchases
And, your points don't expire as long as your account is open.
I have quite a few cards in my wallet but one of my biggest focuses for 2024 is my Sapphire Reserve/Inc Business combo. In just a short 2 months,I have crushed with 240k Chase points (this includes my Ink sign-ip bonus), but I love the combo and the Staples free gift cards for gas purchases and a handy 40k friend referral for a limited time.
When it comes to Chase Ultimate Rewards, the best way to maximize your points is to redeem them with travel.
[.dontreco] We don’t recommend: Turning your points into cash-back [.dontreco]
While you can redeem your points for cash back or gift cards at a rate of 1 cent per point, or use Chase's Pay Yourself Back option, it simply doesn’t provide the best value.
[.sometimesreco] We sometimes recommend: Using the Chase TravelSM Portal [.sometimesreco]
You can redeem your points for flights, hotel stays, and car rentals through Chase TravelSM, all at a fixed rate of 1.25 cents per point. While this is a decent option, it’s still not the best.
[.alwaysreco] We always recommend: Using transfer partners at a 1:1 ratio to stretch your points as far as humanly possible. [.alwaysreco]
The bottom line is — if a flight or hotel room can be bought with cash, you can use your points to book it. Transferring your Chase points can score you more than 1.25 cents per point by moving rewards to Chase's 14 amaaaazing airline and hotel partners. Top picks include Hyatt, United, British Airways, IHG One Rewards, and so many more. Taking advantage of these transfer partners is one of the best ways to justify your Ink Business Preferred. Chase often runs bonus promotions, giving you up to 30% more points or miles when you transfer to a partner.
But how can I actually transfer my Ultimate Rewards points?
Transferring your Chase points is a super simple process. Simply log in to your Chase account and click on “points” in the top right corner. Then, you’ll see three dots on the top of the screen. Click those and select “transfer points to partners.” From there, you’ll be able to view any bonuses and available transfer options.
Oh yeah, did we mention that the Ink Business Preferred has one of the best list of transfer partners in the world? In case you need convincing, here’s that list:
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Brendan, who you may have seen on our Daily Drop YouTube channel, is pretty much a points wizard. He earned about a million points on welcome offers and has used them for some pretty sweet redemptions. One of his strategies? The Ink Business Preferred.
But, he has quite a few business cards in his wallet, all of which he breaks down in this video which may help you decide which card is for you 👇
Why? Not only do these cards cover various reward categories, but they also provide flexible redemption options. You can redeem miles for travel purchases, statement credits, or transfer to over 15 travel loyalty programs using your Venture X Business. And with that card, you’ll also be granted a $300 annual travel credit for bookings through Capital One Travel and up to 10,000 bonus miles on each account anniversary.
Combining both cards gives you access to a wide array of business-related perks, from purchase protections to detailed spending reports, which can help manage business expenses more effectively. You're also granted lounge access with the Venture X Business card, which is great since the Ink Business Preferred does not offer that as a perk. Pairing these two cards allows you to earn high rewards across a variety of spending categories, enjoy flexible redemption options, and take advantage of extensive travel perks and protections.
Why? The Ink Business Unlimited offers a straightforward earning rate of 1.5% cash back (or 1.5x points) on every purchase. This card is perfect for business owners who want to earn consistent rewards on all their business expenses without worrying about bonus categories or spending limits. When combined with the Ink Business Preferred, you can pool your points and redeem them through Chase TravelSM at a higher value with the Ink Business Unlimited or transfer them to travel partners. This ensures you maximize your rewards on every dollar spent, making it a valuable addition to your business card portfolio.
Why? The Ink Business Cash complements the Ink Business Preferred by offering bonus categories that cover additional business expenses. You earn 5% cash back (or 5x points) on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year. Plus, you earn 2% cash back (or 2x points) on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. This card is ideal for maximizing points on business expenses not covered by the Ink Business Preferred bonus categories. Combining the points earned with the Ink Business Preferred and the Ink Business Cash is a pretty great rewards strategy for business owners.
At the end of the day, the Ink Business Preferred is a business card. Here at Daily Drop, we recommend that you make an average of around $2,667 in purchases each month to get the most from the card’s benefits. But as we mentioned earlier, the list of things that constitute as a “business” is pretty long. If you’re unsure about diving headfirst into business cards, check out this newsletter, which might put your mind at ease. Needless to say, if you’re a side hustler and earn a little extra income in addition to your 9-5 (or maybe your side hustle is your 9-5), then it makes sense to be earning travel points on your expenses. If it’s money you’d already be spending, consider this card an additional chunk of cash right in your pocket.
This card has a phat welcome offer. Like seriously massive. One of the biggest. While that shiny bonus should catch your eye, you should also be able to make the minimum spend. If you spend $8,000 in the first three months from account opening, you’d be sitting on 120,000 Chase points. Why should you care? I’m so glad you asked. Chase Ultimate Reward points are considered literal gold within the travel community. With these points, you’re unlocking access to over 14 transfer partners and access to Chase Travel.At the end of the day, if you have a side gig and you also love to travel, it would be tough to pass up this offer. The possibilities really are endless! For example, our Daily Drop Social Media Producer, Brendan, booked a $3,000 all-inclusive vacation using the points from his Ink Business Preferred. Check out the details behind that redemption in this video 👇
Here’s a good rule of thumb: You probably shouldn’t own a credit card if you: (1) have a bad credit score, (2) are a non-U.S. resident (for this particular card), and (3) cannot control your spending.
If your credit score is below 700, you'll need to improve it before applying for travel credit cards, as approval for the best ones, like the Ink Business Preferred, is unlikely. Be honest with yourself: if a new credit card will tempt you to overspend, it's best to avoid it. Credit cards are crucial for earning miles and points, but they require responsible use.
The recommended credit score for the Ink Business Preferred is 670-850 (Good — Excellent). But again, if you’re in a solid place with your credit and feel you are ready for a new card, don’t let the fear of being rejected keep you from applying.
We’ve known several people to be rejected on their first application, use the reconsideration line (link), and be granted the coveted Ink Business Preferred.
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