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Chase Ink Business Preferred 100k
A new offer was just announced on the Chase Ink Business Preferred that will earn you 100k Ultimate Rewards after hitting $15k in spend in the first 3 months of card membership. This is a 20k point increase of the previous 80k offer, but requires an additional $10k spend.
The Chase Ink Business Preferred is my favorite small business credit card. In fact, since I have more than one business, I recently picked up a 2nd Ink Business Preferred so both businesses could reap extra rewards. It’s become a staple of my wallet providing great benefits and category bonuses on things like travel and advertising. It also provides a great way to improve the value of the points I earn on other Chase cards like my Chase Freedom, Ink Business Cash, and Ink Business Unlimited. How? We will get into that, but let’s take a look at this new offer, and how it may be right for you.
Let’s break down the Benefits of The Chase Ink Business Preferred
The Chase Ink Business Preferred has a low $95 annual fee and comes loaded with a bevy of benefits and perks. Personally, I put my mobile phone bill on my Ink Business Preferred because it provides $600 worth of free mobile insurance ( with $100 deductible ). Usually carriers will charge at least $10 a month to have insurance which means I’m net positive on the card without counting the value from all of the other listed benefits. I go into further detail below.
Chase Ink Business Preferred Benefits
1) 100k point welcome bonus after $15k spend in 3 months
2) 3x on first $150k spent on
Phone, Cable, Internet
Social Media/Search advertising
3) 1x on all other purchases
4) Cell Phone Insurance
5) No Foreign Transaction fees
6) Add additional employee cards
7) Redeem at 1.25c for travel with Chase Travel
8) $95 annual fee
Is the Chase Ink Business Preferred limited by 5/24
Yes, if your credit report reflects 5 new accounts being opened in the last 24 months you will not be eligible for the card.
Is this the best offer we’ve seen on the Ink Business Preferred?
The best deal I’ve ever heard of was targeted, in branch, and was 100k Ultimate Rewards after $5k spend. So exactly the same bonus, but with a lower spend threshold. When this card was first issued it continually offered 80k Ultimate Rewards after $5k spend. In terms of being the best, it comes down to how much your business spends per month. I don’t think $15k in 3 months is a tall order for most businesses and many would prefer to earn a larger bonus even with the bigger spend threshold.
Hitting $15k in 3 months is difficult for my business
I would check out this post where I discuss using Plastiq as a way to put expenses your business would ordinarily pay cash for like rent, auto leases, utilities, contractors, business services, etc on your credit card. When you start to factor in total expenses, many businesses easily spend $5k a month. The ability to earn 100k point bonus is worth paying a service charge in my opinion.
But I don’t have a small business, Miles. You may, and not know it. Keep reading.
Chase is very friendly to entrepreneurs and small business owners. In fact, if you haven’t been in business for long, or you haven’t established yourself with an EIN, you can still apply as a Sole Proprietor ( fill in your SSN ). If you run a small side business (think bloggers, ebay sellers, tutors, consultants, etc) and want a card to segregate your business income from your personal income at tax time…this is a great opportunity to earn a load of points and help yourself out.
Personally, I have two businesses that I run, one has an EIN, and one doesn’t. I still need to keep all of their records separate, and so I have cards for each business. And we love to fly like this: United Polaris from Brazil to Chicago
How about a deep dive into the benefits I extract the most value from:
1) Earning Transferrable Ultimate Rewards
First and foremost, the 100k point sign up bonus is amazing and puts you well on your way to some incredible redemptions. How? As I’d mentioned in the intro – this card is one of Chase’s premium cards – meaning it earns fully transferrable points. The ability to transfer into partner programs is the single best way to consistently get maximum value for your Ultimate Rewards
Business class starts at just 57.5k with United, 65k with Singapore Airlines from the US to Europe. Incredible value to fly flat and hit the ground running when you get to your final destination. You can transfer instantaneously to United and fly on partners like Lufthansa in first class which is uber cool if you ask me.
In fact, 110k United miles will fly you in Lufthansa First Class from the US to Europe. One of the benefits of using United miles vs other currencies is the taxes and fees are minimized.
2) 3x points on Travel
Being in the travel business means it accounts of a large portion of my business expenses. Chase has a broad and generous definition of travel:
Airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages
I’m always surprised at the end of the month when I see how many different places I accumulated triple points simply by using this card.
3) Cell Phone Insurance
This is an outstanding benefit and typically not one of the main advertising points of this card, but saves me $10-15 every month. The Ink Business Preferred provides cell phone protection so long as you pay your bill with the card.
Yes, that’s right, you can switch your current bill over to the Ink Business Preferred, and you and your employees phones will be covered with following benefits:
- $600 of protection with a $100 deductible
- Claims 3 times per 12 months
- Lost phones are NOT covered
- Covered phones must be purchased new. Refurbished or resold phones are NOT included
- Only covers you and your employees listed on your monthly cell phone bill
4) Transfer your Freedom/Ink Cash, etc into Ultimate Rewards
One of the great things about having a premium Chase Ultimate Reward earning credit card, is it allows you to increase the value of points you may earn on other Chase products.
I wrote an entire article on building a Chase Trifecta/Quadfecta which maximizes this benefit and utilizes the incredible suite of Chase products to earn the most points per dollar on different cards, and then merge them into a single account to transfer into partners for maximum redemption.
Here are 5 of my favorite ways to use Chase Ultimate Rewards at high value
Transfer to Hyatt to stay at Aspirational properties like the Alila Villas Uluwatu
Lufthansa First Class via Singapore Airlines or United
It now costs 95k Singapore miles, which is quite steep, but Singapore miles are one of the easiest currencies to accrue as they partner with all 4 major flexible point programs ( SPG, Chase, Citi, and Chase). Additionally, Singapore has comparatively low change fees, meaning you can book into business class as a backup, and when Lufthansa releases space ( roughly 14 days ahead of departure) swoop in. Alternatively, if you see space avail, and are willing to fork out a few more miles, but avoid fees – you can redeem 110k United for the same award.
Singapore Suites via Singapore Airlines
For 76k Singapore miles you can fly from JFK to FRA or vice versa, and experience one of the most aspirational first class experiences in the sky, Singapore Suites. It’s truly incredible. You can read our review here
If you’re flying intra-Asia, specifically between Delhi/Bombay/Shanghai/Beijing you can land the new suites for just 53k. Those are 5hr+ flights. Wanna get a quick taste? Just over 40k will put you on it from SIN to HKG
68k Roundtrip Business Class to Europe with Iberia Avios
One of the great spots on Iberia’s award chart is flying business class from Chicago/East Coast to Madrid on Iberia’s own lie-flat business class. I did this last New Year’s and it’s an incredible value.
Transfer to Air France for sweet-spot biz redemptions 52k-67.5k
Air France offers a great reverse herringbone business class that you can find on their 772, 773s, some A330s, and eventually on their A380s. You’ll be hard pressed for find a better way to fly across the pond which is why we chose it to fly home last year.
This is a card I can’t imagine parting ways with. It not only has an incredible welcome offer, but has benefits that keep it front and center in my wallet. The only downside to the new offer is the larger spend threshold, but the ability to process
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A Monkey Miles favorite for beginners and point pros alike – a staple of our wallet that earns Premium transferrable Ultimate Rewards. $95 annual fee
♥ Earn 60k Bonus Points after $4k Spend in 3 months
♥Points are transferrable to over dozen partners, or redeemable for 1.25c in Chase travel
♥5x on travel purchased via Chase Travel and 2x everywhere else (beginning 8/16/21)
♥3x on dining, including eligible delivery services, takeout and dining out (previously 2x – beginning 8/16/21)
♥3x on select streaming (beginning 8/16/21)
♥ 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs -(beginning 8/16/21)
♥ $50 Annual Credit on hotel stays purchased via Ultimate Rewards. *New cardmembers can get this credit immediately – existing cardmembers get it after anniversary (beginning 8/16/21)
♥ 10% Anniversary Point Bonus. Spend $10k in a year, get 1k bonus points. (beginning 8/16/21)