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Chase Ink Business Preferred 100k

The Chase Ink Business Preferred is my favorite all around small business credit card. I actually have two of them, and for the past couple of years Chase has offered the ability to earn 100k Ultimate Rewards after hitting $15k in spend in the first 3 months of card membership. It earns premium Chase Ultimate Rewards and great 3x bonus categories. Let’s break this bad boy 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.

Tell me more about Chase Ultimate Rewards

The Chase Ink Business Preferred earns premium ultimate rewards which means they can be used in the portal ( for 1.25c with this card ) or they can be transferred in the following transfer partners. This is how we travel in business and first class – outsized value in transfer partner sweet spots.

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 60k 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

Exclusions:

• 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.