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Our Verdict

If you were to make a short list of the best small business credit cards available, the Ink Business Preferred® Credit Card would be at the top of that list.

Not only is the card a fantastic option for earning points by offering 4 different bonus categories, but it also offers great travel benefits and purchase protections that any small business owner would love — and all for an annual fee of just $95!

So if you’re a small business owner that travels often for work or leisure, here is a detailed look at why the Ink Business Preferred card might be a must-add to your wallet.

Chase Ink Business Preferred


  • Earn 3x Ultimate Rewards points per $1 spent on up to $150,000 in combined purchases on advertising on social media and search engines, travel, shipping, internet, cable, and phone services
  • Access to Chase Ultimate Rewards travel transfer partners
  • Ultimate Rewards points are worth 25% more when redeemed through the Chase travel portal or Pay Yourself Back
  • Cell phone insurance
  • Trip cancellation/interruption insurance
  • Rental car insurance
  • Purchase and extended warranty protection
  • No foreign transaction fees


  • $95 annual fee
  • No premium travel benefits like airport lounge access

Current Welcome Bonus

Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months.

Learn More

Ink Business Preferred Card Details

The Ink Business Preferred card combines fantastic point earning with excellent travel and business protections, making it the perfect match for anyone looking for such a card.

With your Ink Business Preferred card you’ll earn 3x Ultimate Rewards points per $1 spent (up to $150,000 per year) in the following bonus categories:

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

So for any small business owners who have a significant amount of yearly expenses that fall within these categories and are able to meet the $150,000 cap, you would earn a massive 450,000 Ultimate Rewards points each year. Keep in mind that since your points are worth 25% more when redeemed through the Chase travel portal, these 450,000 points would be worth at least $5,625 in travel savings.

There are plenty of other things to love about the Ink Business Preferred card though, like the cell phone protection that covers up to $600 per claim against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your card. Plus you’ll get purchase and extended warranty protection, primary rental car insurance, trip cancellation/interruption insurance, and access to all of the Chase Ultimate Rewards transfer partners.

Great Card If

  • You’re a business owner who spends a lot on travel, communication services, shipping, or advertising expenses
  • You travel often and want a card with flexible point redemption options
  • You want a card with cell phone protection, purchase protection, and travel insurance

Don’t Get If

  • You want a card with no annual fee
  • Your business’ annual spending does not fall within the bonus categories

Ink Business Preferred Card Protections

You want a card that will keep you covered when you need it, so what protections are offered to cardholders of the Ink Business Preferred card?

  • Trip Cancellation and Interruption Insurance — Trips canceled or cut short by covered situations, like severe weather, can be reimbursed up to $5,000 per person and $10,000 per trip for non-refundable travel expenses.
  • Rental Car Insurance — Receive primary coverage when renting for business purposes for any theft and collision damage to your rental vehicle.
  • Cell Phone Protection — After a $100 deductible, receive up to $600 per claim, and $1,800 per year, in cell phone protection against theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your card.
  • Purchase Protection — Purchases made with your card are covered for 120 days from the purchase date against damage or theft up to $10,000 per claim and $50,000 per account.
  • Extended Warranty Protection — The manufacturer’s warranty of 3 years or less on purchased items is extended by an additional year.

So, with a card like the Ink Business Preferred card, your business purchases are protected whether you’re in the office or on the road.

Best Ways To Use Ultimate Rewards Points

Ink Business Preferred

Photo: I-ing /Shutterstock

Once you’ve built up a stash of Ultimate Rewards points you’ll have quite a few options when it comes time to redeem them. However, each option can vary quite a bit in value depending on what makes the most sense for you.

Chase Travel Portal and Chase Pay Yourself Back

As mentioned previously, Ink Business Preferred cardholders get a 25% bonus to their Ultimate Rewards points when they redeem them through the Chase travel portal or as statement credit with Pay Yourself Back. This is by far the easiest way to use your Ultimate Rewards points and provides you with a solid redemption rate of 1.25 cents per point.

Through the Chase travel portal, you can offset purchases made on airfare, hotels, rental cars, cruises, etc., and Pay Yourself Back allows you to redeem your points to offset purchases made at grocery stores, home improvement stores, and restaurants (including takeout and delivery). So someone with 100,000 Ultimate Rewards points would be able to redeem them for $1,250 in purchases on any number of these categories. 

Airline and Hotel Transfer Partners

Those who prefer to use their Ultimate Rewards points for travel will likely fare much better by using them with one of the Chase transfer partners where you can often get upwards of 2 cents or more per Ultimate Rewards point. Using transfer partners definitely requires you to put in a bit more work than simply using the travel portal, but if you’re willing to put in the extra effort you’ll find that effort will be rewarded. If you’ve ever seen photos or videos of people redeeming them points for swanky first and business class seats or luxury hotel stays, they often are doing so by utilizing transfer partners!

For example, say you wanted to book a free night at the world-class Park Hyatt Sydney where rooms often cost upwards of $1,000 per night. Booking this though the Chase travel portal would cost you 80,000 Ultimate Rewards points — yikes! However, the World of Hyatt program, a Chase transfer partner, charges just 30,000 points for a free night at the Park Hyatt Sydney. So for 80,000 points you could book 2 free nights instead and have 20,000 points left over — this is the power of using transfer partners!

Ink Business Preferred

Photo: Tooykrub/Shutterstock

Here is the full list of all of the Chase transfer partners along with which programs we think are the best for getting the best value possible out of your Ultimate Rewards points:

Chase Transfer Partners
Our Top Choices British Airways Executive Club United Airlines MileagePlus
Singapore Airlines KrisFlyer World of Hyatt
Solid Options Air France/KLM Flying Blue Southwest Airlines Rapid Rewards
Emirates Skywards Virgin Atlantic Flying Club
Iberia Plus
Not Recommended Aer Lingus Aer Club JetBlue TrueBlue
IHG Rewards Marriott Bonvoy

This chart is meant to serve as a general guideline rather than a hard and fast rule, as they are ways to get decent value for your points for virtually every program listed, but some are significantly easier and more plentiful than others.

Top Choices are reserved for programs where it is easy to regularly get outsized value for your points. Take the Singapore KrisFlyer program for example, where you can redeem 86,000 miles to fly Singapore Suites class, one of the world’s premier airline experiences, between New York City and Frankfurt. Want to extend the experience even further? Then you can from New York to Singapore for 132,000 miles — a ticket that usually costs $10,000!

Those in the Solid Option tier will regularly provide you good value for your points, but outside of a few sweet spots from each program, the redemption value is unlikely to knock your socks off. One such example would be using Air France/KLM Flying Blue miles to take advantage of one of the promos that allow you to get 25% to 50% off of award flights in both economy and business class.

Finally, programs in the bottom Not Recommended tier are generally not that great of value unless you have a very specific need for them. For example, the IHG Rewards no longer publishes an award chart, but award nights at its very best hotels usually run around 70,000 points per night. This is a bit extreme when you consider that you could book a business class flight to Asia or 2 nights at a top tier Hyatt hotel for less than that.

But keep in mind that at the end of the day there is no right way or wrong way to use your points. Each person has their own preferred way to travel and their own goals. Some prefer to cash in their points for luxury experiences, and others prefer to stretch them out for more free trips. Either way, the best way to redeem your points is whatever works best for you.

Other Ways To Use Points

Chase gives cardholders other ways to redeem their Ultimate Rewards points as well. These include things like gift cards, statement credits, Apple and Amazon purchases, or experiences through the Chase Experiences portal. If you have no desire to use your points for travel then it could make sense to redeem them this way. But otherwise, you’ll almost always end up better off using them with transfer partners or with the Chase travel portal or Pay Yourself Back.

Alternative Cards To the Ink Business Preferred Card

The Business Platinum Card® from American Express

If you’re looking for a business credit card that offers premium travel benefits, then the Amex Business Platinum card might be a better fit for you. The card earns 5x Membership Rewards points on flights and prepaid hotels on Amex Travel, 1.5x points per $1 on eligible purchases in key business categories, as well as on purchases of $5,000 or more everywhere else (up to $2 million in purchases per calendar year), and a 35% rebate when using miles to book flights on Amex Travel.

It also includes perks like access to 6 different airport lounge networks, a $200 annual airline fee credit, rental car elite status, and complimentary Hilton Honors Gold and Marriott Bonvoy Gold Elite status. With an annual fee of $595 ($695 if application is received on or after 01/13/2022), this card comes at a premium price but provides a lot of value in return (see rates and fees). Terms apply and enrollment required for select benefits and offers.

Ink Business Unlimited® Credit Card

If you want a card that is still apart of the Ultimate Rewards ecosystem but offers more simplicity than the Ink Business Preferred card and charges no annual fee, then consider the Ink Business Unlimited card. You’ll get a simple rewards structure where you earn 1.5x points per $1 spent on every purchase with no caps, flexible redemption options, and purchase and travel protections to help keep you covered at home and abroad.

For rates and fees of the The Business Platinum Card® from American Express, click here.

Advertiser Disclosure: We’ve partnered with UpgradedPoints.com to help make recommendations on our favorite travel credit cards. We may receive a commission from card issuers if you choose to apply for cards through these links. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.