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Two Chase Ink Business Preferred credit cards
I picked up my first Chase Ink Business Preferred back in the spring of 2017, a few months after it hit the market. I couldn’t believe Chase was offering a card for $95 that offered 3x on travel ( and other categories), free mobile phone insurance, and a phenomenal 80k point offer after $5k spend in the first 3 months. I couldn’t get the card fast enough.
Flash forward nearly 3 years and the 24 month clock on repeat bonuses has lapsed. My current Chase Ink Business Preferred gets a lot of spend, but I have use for a 2nd one for another business I maintain. If you’re unfamiliar with the repeat bonuses I’m referring to, most Chase cards have a limitation on how often you can qualify for a sign up bonus. Aside from the Sapphire branded cards, which are every 4 years, the rule of thumb is you’re eligible every 24 months. Since I’ve been under 5/24 ( which you need to be for approval ) for over a year, I thought this tax season would be a good time to pick up another Chase Ink Business Preferred as many of my accounting fees are due now, and I’d hit the bonus very quickly.
Applying for my 2nd Chase Ink Business Preferred
I have no reason to get rid of my current Chase Ink Business Preferred and have plenty of reason to get another one. Especially because my 2nd card would be attached to a business I’ve maintained that has had an EIN for over 12 years. I didn’t foresee any issues with getting approved nor qualifying for the 2nd bonus. In case you’re wondering…here’s my current portfolio of Chase cards:
- Personal
- Chase Sapphire Preferred
- Chase Freedom
- IHG Rewards Select ( no longer available )
- Business
- Chase Ink Business Cash
- Chase Ink Business Unlimited
- Chase Ink Business Preferred
I applied at the end of January when the public offer was offering an 80k Ultimate Reward bonus after hitting $5k in 3 months. It’s now at 100k after $15k spend, but more on that later.
The first problem. Business Address and Proof of Business
I applied at the end of January and wasn’t instantly approved. A few days later I phoned in to get a status update got the initial 30 days. A few days later I called again was told that I would be notified in writing within 7 to 10 days. It was almost 3 weeks from my initial application date that I received a letter asking for Proof of Business ( and my role as an officer ) and verification of business address.
Neither of these were a big deal, and I could take them to a local Chase branch and have them faxed in to expedite the process. I’d forgotten when I applied that my official business address had changed since it was first incorporated, and I had applied with the new business address. Since I was out and about I accessed my official business documents from the State of California’s business search page.
I printed my articles of incorporation which showed my role as President and also the change in address form filed with the Secretary of State to satisfy both requests from Chase.
I brought these along with my letter to a Chase branch and had them faxed in. This was on a Friday and I figured I’d call in and hear a message on Tuesday or Wednesday that I would hear I was approved or that I’d receive a letter in 14 days.
The second problem. Business Address didn’t match…
I waited another two weeks and still hadn’t received anything by mail. I decided to phone in and double check the documents had been received since what I provided should have sufficed. What I found out was crucial in my approval.
When I applied, I had mistakenly left off the unit number on my card application. The document filed with the State of California showed a unit number, and they were asking for me to provide documentation with a unit number.
My bad.
The rep, however, informed me that I could actually amend my application since it was the document that was inaccurate. Great piece of information. I drafted a document detailing the discrepancy, that I wished to have it amended to match the proof of address from the State of California. I then signed, dated, and re faxed the package in.
Approval!
The end of the next week I phoned in again to make sure the documentation had been received and was welcomed with an account approval over the phone. WAHOOOOO but over 8 weeks since I had first applied and a new offer was out on the Ink Business Preferred.
80k vs 100k
Which is a better offer? Totally up to your circumstance, but it sounds like there are some options even if you’ve applied for the 80k but would prefer the 100k.
It’s my understanding that if you applied for an 80k offer with $5k spend and you would prefer to have the 100k and $15k spend offer that it’s possible, but not guaranteed. Anecdotally, what I’ve learned is to inquire with a rep, have a note added to your account, and many are being told that if they do indeed hit the $15k spend in 3 months, they’ll receive an extra 20k Ultimate Rewards. If they don’t hit the $15k spend…no worries you still get the 80k. Pretty sweet deal. I’ll let you know how that goes since I expect I’ll hit the higher spend anyways.
If you’d like the 80k offer it is still available by referral…you can do so here. We will get a 20k referral bonus on this one. Thank you in advance!
If you’re interested in the 100k offer…check out this ( if you end up applying via this explanation we do make a commission )
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Chase Sapphire Preferred® Card
Welcome Offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Annual Fee
$95
Points Earned
Transferrable Chase Ultimate Rewards
- 5x on all travel purchased through Chase Travel℠
- 3x on dining, including eligible delivery services for takeout & dining out
- 3x on select streaming services
- 3x on online grocery purchases
- (excluding Target, Walmart and wholesale clubs)
- $50 Annual Chase Travel Hotel Credit via Chase Travel℠
- The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
- 2x on all other travel
- 10% Anniversary Bonus
- Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
- Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
- Points are transferrable to 14 Ultimate Rewards partners
- Redeem in Chase Travel℠ for 1.25 cents per point
- No foreign transaction fees
- Suite of Travel and Purchase Coverage
- Auto Rental Collision Damage Waiver is my favorite
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- $95 Annual Fee
We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.
Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.
Main Cast:
Cards that earn flexible points and should be used on the bulk of your purchases.
Supporting Cast:
Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on.
The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.
If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex® and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners
Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.
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