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This is strongest-earning small business card and the card with the most valuable signup bonus. And it’s a $95 annual fee card, not a $450 annual fee card. Many readers can get a business card and probably should.
Chase even suggests that getting a small business card is one of the things you should do as you start your business, that it’s often the first resource many business owners look to as they start to grow. A small business card allow yous to separate business from personal expenses and builds the credit history and identity of your business.
Here are 12 things I love about the new Ink Business Preferred:
- 80,000 Point Signup Bonus
Spend $5000 on your new card within 3 months and you’ll get 80,000 points. As you’ll see below, that can even be enough for a roundtrip business class award ticket between the US and Europe. (Chase points are super valuable because they transfer directly to a variety of airlines and hotels.)
- 3 Points Per Dollar on Travel
Chase points are one of the most valuable currencies and you’ll earn 3 points per dollar on travel — that’s airlines, hotels, rental cars, tolls, even Uber.
- 3 Points Per Dollar on Shipping and Advertising on Social Media and Search Engines
This is great for anyone who advertises on Facebook or Twitter, or who spends money advertising with Google. And those bills add up quickly. Earning triple points on that spend is going to be a really big boost.
- $150,000 spend cap on bonus categories
Previously Chase’s business cards capped category bonus spend at $25,000 or $50,000 in a year. Being able to keep spending on this card in a big way is a great move for Chase to encourage not just a little bit of spend but a lot of spend through the product, and to let you keep earning big bonus points.
- $600 protection against theft or damage for your cell phone.
Get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Chase Ink Business Preferred credit card. Maximum of 3 claims in a 12 month period with a $100 deductible per claim.
Now, I got my cell phone’s cracked screen covered when I paid for it with my Chase Sapphire Preferred Card — but that was purchase protection, cracked the screen shortly after I purchased the phone.
This benefit though is significant, since it’s real ongoing cost savings as well: those of you who pay to insure your phone against damage could consider pocketing cash savings every month if you paid your bill with this card.
- You can get more than one Ink Business Preferred Card if you have more than one business.
Chase won’t approve this for everyone, of course, they’ll consider how much credit they wish to extend to you. But they don’t limit you to one card if you have multiple businesses.
- Ultimate Rewards Mall
Additional points for your online shopping through access to the Chase Ultimate Rewards mall, a mileage-earning shopping portal that often has the most lucrative opportunities to earn extra points for the online purchases you’d make anyway.
- Points transfer to Singapore Airlines — one of the best airlines in the world, with great premium cabin availability, stopovers for a fee even on one-way awards, and very low fees
It’s very rare indeed that you can ever use miles from Star Alliance partner programs like United MileagePlus, Aeroplan, or LifeMiles for long haul premium cabin travel on Singapore. But Singapore offers members using their own miles better award availability on most of their routes. Last year I flew Suites Class for 2 passengers from Sydney to Singapore and also from Singapore to Paris, and we were alone in the cabin to Paris.
There are no fees for telephone booking. There are no fees for close-in award redemption. There are no fees for changing the time or date of travel on a Singapore Airlines award.
Award cancel and redeposits cost $30. And they’ll warn you about penalties if you fail to cancel or change your ticket at least 24 hours prior to departure — if you no show and don’t bother to call, and still want your miles back, that will cost just $75.
- Points transfer to United Airlines MileagePlus
United is one of the few airlines in the world that does not add fuel surcharges onto any awards and because that gives you access to availability across the Star Alliance and with easy online bookings.
- Points transfer to Air France which offers great business class award availability.
They make far more award space available on Air France and KLM flights to their own members than they do to partners. I find really good space between the US and Europe, even on West Coast routes.
- Points transfer to Hyatt which gives you access to high-end hotel redemptions, reasonably-priced suite awards, and room upgrades with points.
Hyatt lets you redeem ~ 60% more points than a standard room for a suite on a free night. And Hyatt lets you spend 6000 points per night on a qualifying paid rate stay to upgrade to a suite — at booking. And that 6000 point price is the same regardless of the price level of a hotel.
You do have to pay the standard or Hyatt daily rate to use points to upgrade a paid reservation to a suite, and at a resort you have to book at least a deluxe room to be eligible to use points for upgrades. And free nights in suites require a minimum 3 night stay.
Park Hyatt Aviara
- Points transfers with most airline and hotel partners are instant.
This is great because you don’t risk awards disappearing this way. And you don’t need to transfer points to an airline or hotel program until you need them, since transfers happen quickly. (Singapore Airlines transfers in my experience take 12-24 hours but have taken as long as 36 — which is ok since Singapore has let me put awards on hold, then I’ll transfer the points).
“5/24 limits” apply to the card. That’s not a surprise, there are cards that Chase won’t give to some people who have had 5 or more new cards within the last 24 months. This doesn’t apply to everyone, but it does apply to many.