Chase Ink Preferred® Credit Card: Complete Guide

The Chase Ink Business Preferred® Credit Card typically has the highest standard offer of any of the Chase cards that can earn Chase Ultimate Rewards® — which is our favorite points overall.

While this card does have a significant $8,000 spend requirement to earn the welcome offer — if you have planned expenses to pay, this card gives you an impressive number of points.

Chase Ink Business Preferred® Credit Card Details

Annual Fee

The annual fee is $95 a year. There is no fee waiver for the first year. After holding this card for a year you could downgrade to a no annual fee version like the Chase Ink Business Cash® Credit Card or Chase Ink Business Unlimited® Credit Card.

Remember that you will need at least one card with an annual fee in order to have the “power” to transfer your Ultimate Rewards to transfer partners like United or Hyatt.

3x Earning Rates on Travel + More

You’ll earn earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, and on advertising purchases made with social media sites and search engines each account anniversary year.

This is one of the best cards for earning points on travel purchases!

You’ll earn 1 point per $1 on all other purchases, with no limit.

Through March 31, 2025, all Chase Ink Business Preferred® Credit Card holders will earn 5x on Lyft purchases.

No Foreign Transaction Fees

Many business credit cards (including the no annual fee Chase Ink Business cards!) charge up to a 3% fee per foreign transaction. Not so with this one, making it a great option to use on a trip.

Transfer Your Points to Partners 1:1

Like the Chase Sapphire Preferred® Card, this card gives you the opportunity to really get more value from your points by transferring your Chase Ultimate Rewards® points to airline and hotel partners. You can also combine points from a card like a Chase Ink Business Cash® Credit Card or Chase Ink Business Unlimited® Credit Card with this card — and be able to transfer those points to partners, too!

25% More Value When Redeeming Points at Chase Travel℠

The Chase Ink Business Preferred® Credit Card can redeem points through Chase Travel℠ at 1.25 cents per point. This is 25% more value than straight cash back and matches the Chase Sapphire Preferred® Card.

What if I don’t have a business?

We’ve found that almost everyone has some side job or way to make money that can qualify them for business cards. We have a detailed article here all about it.

Application Tips

Which Link to use?

If you have a spouse or partner that already has any Chase Ink business card, you’ll want to use their referral link to open the card. Chase Ink cards have family referrals which means whichever one you have, you can refer someone else to any of them. They’ll earn a 40,000 point referral bonus and you’ll be able to get your new cardmember welcome offer as well! Just make sure to apply for the right Ink card!

You don’t want to “refer yourself” to another Chase Ink card. This can lead to shutdown by Chase.

If you don’t have a referral link in your household, we appreciate so much when you use our affiliate links! These pay us a cash commission and allow us to keep all our resources available at no cost to you. Here’s the affiliate link for the Chase Ink Business Preferred® Credit Card.

I already have this card. Can I get it again?

Terms on this card currently DO allow you to have more than one.

The best practice, in my opinion, would only be to open a second card if you have another business to apply for. It’s a common practice for one person to own two businesses and want to keep your expenses separate for cleaner bookkeeping.

If you’ve had this card for more than a year, you could also close it and then reapply.

To increase your chance of auto-approval, I suggest the following:

• • Make sure the total credit extended to you by Chase doesn’t exceed 50% of your total income. If it does, consider proactively lowering your limits.

• • Make sure you qualify under the 5/24 rule

• • Apply for a different business if you already have business cards with Chase (or get a free EIN if you’ve applied as a sole proprietor)

• • Space out applications to Chase by 90 days (closer is okay once in a while).

See more in my YouTube Video

Business Application Walk Through

Many people can qualify for a business card even if they only have a small side hustle. Read more here.

If you’re ready to apply, follow along with this step by step tutorial on YouTube.

Top Card Benefits

Cell Phone Protection

You’ll get cell phone protection against theft or damage, up to $600 per claim, when you pay your cell phone bill with the card. This isn’t as good as cell phone protection you’ll get with a premium card like the Capital One Venture X Rewards Credit Card— but if you don’t have any, it’s a good thing to have.

Extended Warranty

Extends a manufacturer’s warranty by an additional year, on eligible warranties of three years or less. Up to $10,000 per claim and $50,000 per year.

Purchase Protection

This benefit covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per year.

Trip Cancellation / Trip Interruption Insurance

This insurance helps out if a trip is cancelled or “cut short by sickness, severe weather and other covered situations.” It allows you to be reimbursed up to $5,000 annually for non-refundable travel expenses, including passenger fares, tours, and hotels.

You’ll need to charge your expenses to your card to activate coverage and there are some restrictions. But overall these travel protections are really valuable.

Baggage Delay Insurance

This coverage will reimburses you for essential purchases like toiletries and clothing if your baggage is delayed over 6 hours. That means if you baggage fails to arrive within 6 hours of your arrival, you can get up to $100 a day for 5 days. This is one of very few cards to carry this insurance!

Trip Delay Reimbursement

If your flight is delayed more than 12 hours or requires an overnight stay, you are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket.

Lost Luggage Reimbursement

If you or an immediate family member check or carry on luggage that is damaged or lost by the carrier, you’re covered up to $3,000 per passenger.

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Combining Points Across Your Cards and Household

This card earns the same Ultimate Rewards that the Preferred® Card and Chase Sapphire Reserve® do! That means if you already hold one of those cards, you’ll be able to combine all your points together.

Even more powerful is the ability to combine points across your household! This means you can transfer all other Chase Ultimate Rewards® points to or from card to someone else in your household and use all the redemption benefits!

The first time you combine points across your household, you’ll need to call the number on the back of you card to link your accounts. The accounts essentially get another one way “link.” So in our case, I can transfer points from any one of my Chase Ultimate Rewards® earning cards to my husband’s Sapphire card (which is how we set up our link).

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How do I redeem Chase Ultimate Rewards® points?

For more on some of my favorite options to redeem these points, check out my post on sweet spots here.

Highest Value Potential: Transfer to Partners

Transferring your Chase Ultimate Rewards® to airline and hotel partners is one of the easiest ways to get more value for your points. My personal favorite transfer partner is Hyatt!

Points must be transferred in increments of 1,000 points. You can transfer to your own loyalty accounts or to the loyalty accounts of any authorized users on your card.

Chase Ultimate Rewards® has 11 airline transfer partners.

• Aer Lingus
• Air Canada Aeroplan
• British Airways
• Emirates
• Flying Blue (Air France/KLM)
• Iberia
• JetBlue
• Singapore Airlines
• Southwest
• United Airlines
• Virgin Atlantic

Chase Ultimate Rewards® has three hotel transfer partners:

• Hyatt
• IHG
• Marriott

All transfers are final–so make sure you really want to transfer. Once you transfer your points to a partner, you cannot turn those points back into Chase Ultimate Rewards® points.

Learning about award sweet spots is where you can really begin to maximize the value of your points. Read more about some sweet spots here. Also listen in to Season 1 of our podcast which goes in depth into these points.

Redeem for travel at 1.25x in Chase Travel℠

Though it is not strictly the “best value”, my family has redeemed a lot of our points through Chase Travel℠. This is because it allows us to book rental cars, independent hotels, and even rental homes with our points. Sometimes the cash rate of a hotel or flight is cheap enough that it makes more sense (and cents!) to book through the Chase Travel℠.

It is easiest to think about it as 10,000 points will get you $125 of travel.

Redeem for cash back

The cash back rate is 1 cent per point. So 10,000 points will get you $100 cash back.