As someone who has multiple businesses, I’ve learned to leverage business credit cards for additional perks. In addition to our personal credit cards, we generally sign up for the best business credit cards and signup bonuses, too. And while we’ve had plenty, our current business cards are limited to an Ink Cash we downgraded to from the Ink Plus Business credit card and co-branded Delta and American AAdvantage business credit cards.
If I could, I would totally sign us up for the new Ink Plus Business Preferred card, too. Unfortunately, the 5/24 rule from Chase has made the possibility of us qualifying a pipe dream.
But, boy would I love to get my hands on this card if I could. Here’s why, and why I think any business owner would be crazy not to sign up:
The signup bonus is unreal. With the new Ink Plus Business Preferred, you’ll earn 80,000 points after you use your card for $5,000 in purchases within the first three months of account opening. Since these points transfer to popular loyalty programs like Southwest Rapid Rewards, United MileagePlus Explorer, British Airway, Hyatt, and Marriott at a 1:1 ratio, you could easily parlay these points into serious travel.
The annual fee is only $95! Unlike the 100,000 bonus offer on the Chase Sapphire Reserve personal card, earning these 80,000 points only requires a $95 annual fee – the same as the annual fee on the popular Chase Sapphire Preferred card.
Earn 3x points in select categories. With this card, you’ll earn 3 points per $1 spent on your first $150,000 in travel, shipping purchases, internet, cable, phone, and online advertising.
||Ink Business PreferredSM Credit Card
$95 annual fee
|Earn 80,000 bonus points.
After you spend $5,000 on purchases in the first 3 months from account opening.
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|Ink Business PreferredSM Credit Card|
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This card has a reasonable minimum spending requirement. The Business Platinum Card from American Express card is currently offering a 100,000 point signup bonus. Unfortunately, you need to spend $15,000 in three months to earn the signup bonus. That offer makes this card’s $5,000 minimum spending requirement seem easy.
Get 25% off travel booked through the Chase travel portal. If you’re a business owner who loves to travel, the Ink Plus Business Preferred card won’t leave you in the lurch. Just like other premier Chase cards (other than the Chase Sapphire Reserve which offers 50% off travel), you’ll get a 25 percent discount on travel booked through the Chase Ultimate Rewards portal with this card.
The Bottom Line
The Ink Plus Business Preferred is a smart option for business owners. Not only does it offer a huge signup bonus, but it comes with a minimum spending requirement that most people can reach. Add on the 3x bonus categories and the fact that Chase really does have the best transfer partners, and it’s easy to see why this card continues to be popular with business owners.
Like I already mentioned, however, Chase business cards do appear to fall under the Chase 5/24 rule. So, if you scored a ton of new credit cards in the last 24 months, you may not qualify. If you keep your business funds with Chase, you may be able to pop into a Chase branch to see if your business account has any pre-approved offers.
Are you getting this card? Why or why not?
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