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The Chase Ink Business Preferred credit card (CIBP) is one of the most useful business credit cards for earning and redeeming Chase Ultimate Rewards (UR) points. Let’s take a look at what makes this one of our favorite business cards at ToP.
Chase is currently offering a 100,000-point sign-up bonus after spending $15,000 in the first 3 months after accounting opening. The card comes with a $95 annual fee. The card does not have foreign transaction fees. As with any other Chase card, you cannot qualify for this card if you have opened more than 5 credit cards with any bank in the last 24 months.
The Chase Ink Business Preferred earns 3x Chase Ultimate Rewards on the first $150,000 spent annually in combined purchases among these categories:
- 3x travel (includes flights, hotels, taxis, rideshare services, public transportation, parking)
- 3x shipping purchases
- 3x cable, internet, and telephone services
- 3x advertising purchases made with social media sites and search engines
The card also earns unlimited 1x point per $1 spent on all other purchases.
Like other UR-earning cards, the CIBP lets you redeem your points for travel through the Chase portal. This can be done at the standard rate of 1.25 cents per point, which is the same rate as through the Chase Sapphire Preferred credit card. For example, 100,000 points are worth $1,250 toward travel. Those with a Chase Sapphire Reserve can redeem URs earned through the Chase Ink Business Preferred at the CSR's rate of 1.50 cents per point.
Redeeming URs through the portal is only one of the ways to score free flights with your Chase points. As with other UR-earning cards, you can transfer your points to any of Chase’s airline or hotel transfer partners, such as Hyatt, United Airlines, or Southwest Airlines.
Cell Phone Protection Plan
If you pay your monthly cell phone bill with your CIBP, you’ll qualify for the card’s cell phone insurance. This coverage includes up to $600 of protection against damage or theft. You can use this coverage up to 3 times per 12-month period, after paying a $100 deductible. That’s up to $500 back for just paying your monthly cell phone bill with the card. On top of that, you would earn 3x points when paying that bill!
To be eligible for the coverage, you do not have to purchase your cell phone with your Chase Ink Business Preferred card. You just have to use the card to pay your monthly cell phone bill. Coverage begins the day after your cell phone bill payment and continues until the last day of the calendar month following a payment.
Some exclusions do apply. The coverage does not cover lost phones. To be covered, the phone must have been purchased new–refurbished or resold phones are not covered. Also, the coverage only applies to you and your employees listed on your monthly cell phone bill.
Trip Cancellation / Trip Interruption Insurance
If you pay for your trip with your Chase Ink Business Preferred card, you could be covered for up to $5,000 per person and $10,000 per trip for pre-paid, non-refundable travel expenses. These expenses include hotels, passenger fares, and tours if your trip is delayed or cancelled for reasons like severe weather or illness.
Primary Rental Car Insurance
The card also offers primary auto-rental insurance when you rent a car for business purposes and pay with your Chase Ink Business Preferred card. For this benefit, you must decline the Collision Damage Waiver (CDW) offered through the car rental agency.
With primary rental car insurance coverage, you typically won't have to file any insurance claim with your own insurance company. The coverage provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
The CIBP also offers purchase protection and extended warranty. This benefit covers the damage or theft of eligible purchases for up to 120 days after the purchase date. Purchase protection will reimburse CIBP cardholders for up to $10,000 and up to $50,000 per cardholder.
All of us at ToP are big fans of the Chase Ink Business Preferred card and consider it a keeper. The travel protection benefits and 3x earning on travel make this card a must-have in any UR-earning lineup, especially for frequent travelers. The Chase Ink Business Preferred is somewhat of a business version of the Chase Sapphire Preferred credit card: both are UR-earning cards with well-rounded bonus categories that offer travel protection and primary car rental insurance at a reasonable $95 annual fee. Yet the card's cell phone protection plan is an excellent perk that can save a lot of money and headache.
The Chase Ink Business Preferred card is already one of the best business credit cards in its own right. But when combined with other Chase cards, the card will help you earn enough points for your next trip faster than you expected. With 3x points on multiple spend categories and access to Chase’s travel portal and transfer partners, this card performs well for both earning and burning points.