Chase Ink Business Preferred Review: A Business Card With Top-Notch Travel Rewards

The Ink Business Preferred® Credit Card is part of Chase's Ultimate Rewards program, allowing small business owners and entrepreneurs to earn travel rewards on all their company expenses. There's a lot to like about this card, and it's a fantastic alternative to the more expensive premium credit cards. Dive into the pros and cons in this Ink Business Preferred® Credit Card review -- so you can find out if it's right for you.

This credit card is a good fit for: Business owners with high spending in advertising, shipping, and travel, as well as internet, cable, and phone services.

Top perks

This Chase business credit card has several great benefits, including excellent bonus offers.

100,000 bonus points

You earn 100,000 bonus points by spending $15,000 on purchases within the first three months of having the card. That's one of the biggest sign-up bonuses you'll find. It's worth $1,250 in travel through Chase's travel portal, and potentially even more if you transfer your points.

SEE MORE GREAT BONUSES: Best Sign-Up Bonus Credit Cards

Up to 3 points per $1

This card earns 3 points per $1 on the first $150,000 you spend per account anniversary year on the following expenses:

• Travel
• Shipping
• Internet, cable, and phone services
• Advertising purchases through search engines and social media sites

Other purchases earn 1 point per $1.

COMPARE TOP CARD OPTIONS: Best Business Credit Cards

High-value redemptions

As part of the Chase Ultimate Rewards program, this business card offers great ways to redeem your points. You can transfer points to any of Chase's airline and hotel partners to make an award booking.

Alternatively, you can use points to book cash travel purchases through the Ultimate Rewards portal or toward previous eligible purchases with the Chase Pay Yourself Back program. You get 25% more value per point over the standard cash back value ($0.01 per point) when you redeem rewards through either of those options. That means you get $0.0125 per point.

LEARN MORE: Definitive Guide to Chase Ultimate Rewards Points

Travel and purchase protections

Protections this card offers include:

• Trip cancellation and interruption insurance
• Auto rental collision damage waiver
• Purchase protection against damage or theft
• Extended warranty coverage
• Cellphone insurance

That last coverage, cellphone insurance, is an underrated perk that most credit cards don't have. You just need to pay your cellphone bill with your Ink Business Preferred® Credit Card for this protection to apply. Even better, it also covers any employees listed on your bill.

Free employee cards

If you have any employees who need company credit cards, you can make them authorized users and get cards for them free of charge. Their cards will have the exact same benefits and rewards rate.

What could be improved

The Ink Business Preferred® Credit Card has a couple downsides to know about.

Annual fee

This Chase credit card has an annual fee of $95. Considering the perks it offers, you can easily come out ahead in terms of value. See if you'll be able to use those benefits to figure out whether the card is a good deal.

The sign-up bonus alone is worth $1,250 towards travel. Cellphone insurance for you and any employees with company phones can save you $100 per year or more. And if your business has high spending in this card's bonus categories, the extra points you earn could save you hundreds to thousands of dollars every year.

READ MORE: Is Your Credit Card Annual Fee Worth It?

No intro APR offer

Some business credit cards include a 0% intro APR on purchases, which is nice if you want to finance big expenses. The Ink Business Preferred® Credit Card doesn't have this kind of offer. It only makes sense to apply for this card if you'll be able to pay your bill in full every month and avoid interest charges.

High spending minimum for sign-up bonus

The 100,000-point sign-up bonus is incredible, but it does come with that steep spending minimum of $15,000 in three months. If your business doesn't spend at least $5,000 per month, then the Ink Business Preferred® Credit Card probably wouldn't be a good choice. In that case, check out other credit card reviews to find one with a lower spending minimum on its welcome bonus.

Read more: Best Business Credit Cards for Startups

A FICO® Score of 670 or higher is suggested to apply for the Ink Business Preferred® Credit Card. Cardholders usually have good credit or excellent credit. However, your credit score isn't the only important factor, and it doesn't guarantee an approval or a denial.

This is a business credit card, but businesses of all sizes and types qualify. You could get it with a traditional small business or as a freelancer.

Before you apply, make sure you understand Chase's 5/24 rule. Chase generally rejects all applicants who have already opened five or more credit cards within the previous 24 months.

LEARN MORE: A Guide to Chase's 5/24 Rule

You want a business credit card with ample bonus opportunities that costs under $100 per year. Here are a few good signs the Ink Business Preferred® Credit Card could be a winner for you:

• You have high spending in its bonus categories (travel, shipping, social media and search engine advertising, and internet, cable, and phone services).
• You want to earn flexible travel points with a variety of redemption options.
• You spend at least $5,000 per month so you'll qualify for the sign-up bonus.

Assuming you spend enough to get the sign-up bonus, this card deserves a place near the top of your list. With a wide range of benefits and a reasonable annual fee, it's not just a great business card, it's right up there with the very best credit cards on the market. Anyone interested in a travel rewards card should give the Ink Business Preferred® Credit Card a look.