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This Chase Ink Business Card can line your pocket with a welcome bonus worth at least $1,200 cash back, or even more: With the Ink Business Preferred® Credit Card, you can earn 120,000 bonus points after you make $8,000 in purchases in the first three months, which translates to $1,200 cash back, $1,500 towards travel when redeemed with Chase Travel℠, or up to $2,460 when you transfer points to select Chase partners.
Before purchasing this card, be sure to check out its closest competitor, the Capital One Venture X Business Card, which currently offers 150,000 bonus points to new cardholders.
Also, as we discuss in the section “Should I get a business card?”, make sure your business really needs a credit card and not a small business loan.
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Ink Business Premier Credit Card
Other Card Member Benefits Free Employee Card Trip Cancellation/Interruption Insurance Extended Warranty Mobile Phone Protection
What can I use my bonus points for?
The 120,000 bonus points can be used in a variety of ways.
Cash Back ($1,200 value) – When you log into your Chase Ultimate Rewards account, you’ll see a cash back option of 1 cent per point. You can deposit any amount into a checking or savings account with Chase or another major bank, or redeem it as a statement credit on your Chase Ink account. And with the Chase Pay Yourself Back program, you can earn 1.25 cents back per point when you donate to select charities through December 31, 2024.
Transfer points to partner airline or hotel programs (values between $1,200 and $2,460) – Chase Travel℠ partners with 11 airlines and 3 hotel chains, making it easy to transfer your Chase points to the partner program of your choice at a ratio of 1 cent per point. Points from these partner programs have varying values depending on how and when you use them, so the actual value of transferred Chase points may be more or less than 1:1.
According to The Points Guy, the 120,000 points you earn from Ink Card rewards are worth $2,460 (or 2.05 cents per point) if used strategically with travel partners. Don’t expect to get that much value — not everyone has the time or energy to make the most of their points.
Purchase flights, hotels, and other travel through the Chase Travel℠ portal ($1,500 value) – Redeem your points for 25% more value through the Chase Travel portal.
If you spend more than $8,000 in the first three months of owning the card, you’ll have to wait an additional six to eight weeks for the bonus points to show up in your account, so don’t plan on using them right away.
For example, say you have a frequent flyer account with United Airlines. You can transfer 120,000 bonus points to your United account for an additional 120,000 miles. However, if you book your flight through the Chase Travel portal, you can exchange at a 1:25 rate instead of 1:1, so your United miles will be worth 150,000 miles on the Chase platform.
If you have any issues while traveling, you’ll be dealing with a Chase Travel customer service agent, not United, so it’s important to understand how your credit card’s travel portal works. Chase has an average to high rating for travel portal customer service.
Should I make business cards?
Before you apply for a business credit card, keep these points in mind to help you decide if it’s the right choice.
Credit score: Most major business credit cards require good or excellent credit, meaning a FICO credit score of 670 or higher. If your score is lower, your options may be limited. Be sure to understand the details of what constitutes a good credit score. Potential costs: Business credit cards often charge high interest rates, and some also charge annual fees. You can avoid interest by paying the balance in full each month, but if you think you might carry a balance, consider how the potential interest will affect your bottom line. If you’re considering getting a card that has an annual fee, make sure you’re getting enough value from the rewards program or perks to make up for the amount. Whether you can open a separate financial account: Managing multiple financial accounts can be difficult. If you already manage multiple personal and business accounts, adding another account can make things even more complicated. In some cases, it makes sense to stick with your existing accounts, as long as you have enough accounts to keep your personal and business expenses separate. Why you need it: While a business credit card can help with day-to-day cash flow, once you’re past the early stages and looking for funding to grow your business, you may want to consider a small business loan instead. And don’t think that having a business credit card will absolve you of liability if your company goes bankrupt; you’ll still be personally liable for any debts you owe, as business card issuers typically require a personal guarantee on your application. Security: Make sure your account is secure and protected, especially from potential business partners and employees.
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As an independent publication dedicated to helping you get the most for your money, the article above represents our opinion on the best deals and not the opinion of any of the parties mentioned, such as card issuers, hotels, airlines, etc. Likewise, the content has not been reviewed or approved by any of these parties.
