If you have a business, the ability to apply for business credit cards gives you access to a plethora of options not available to others. I’ve made no secret about the problems I had trying to convince Chase that I’m running an actual business. The reason I went through all of that trouble was so I would be able to get some of the excellent business credit cards that Chase offers.
I’m not going to tell you to sign up for a business credit card if you don’t have a business. That’s something I will not do for Your Mileage May Vary. However, if you have a side business that has expenses (and hopefully an income as well), you should be able to apply for a business card. Just be honest on the application.
Once I was able to get a business card from Chase, the first card I signed up for was the Ink Business Preferred. Here are the reasons why it was on the top of my list:
Chase Ink Business Preferred
$95 per year
Sign Up Benefits
This card currently has an 80,000 point bonus if you spend $5,000 on purchases in the first three months from account opening. That’s worth at least $1,000 in travel if you book through the Chase portal.
Spending Bonus Categories
The Chase Ink Business Preferred earns 3X points on the first $150,000 spent in combined purchases in the following categories each account anniversary (not calendar) year.
- Shipping Purchases
- Internet, cable and phone services
- Advertising purchases with social media sites and search engines
The card earns one point per dollar for all other spendings with no limits to the total amount of points you can receive.
No Foreign Transaction Fees
As you would hope a card that’s focused on providing travel rewards would, the Chase Ink Business Preferred does not charge any foreign transaction fees.
Auto Rental Collision Damage Waiver
Another great feature of this card is that it acts as primary coverage when you rent a car. In normal terms, if you get in an accident in your rental car, you can use the coverage from Chase before filing a claim with your own insurance. Most other companies offer secondary coverage (where you need to file a claim with your auto insurance first). One important thing to remember, coverage is primary when renting for business purposes.
Cell Phone Protection
With iPhones going for up to $1,500 for a top of the line model, it makes sense to insure your phone for theft or damage. If you pay your cell phone bill with the Ink Preferred, you get up to $600 per claim if your phone is damaged or stolen. There’s a max of 3 claims in 12 months and a $100 deductible per claim.
Points are worth 1.25 cents each when using the Chase portal
If you book travel through the Chase portal, your Ultimate Rewards are worth 1.25 cents each. This isn’t the best value for your points but is better than the 1 cent that you’ll get redeeming them for a statement credit.
Chase Ultimate Rewards can be transferred to other programs at a 1:1 value
Several programs partner with Chase, allowing you to move points to other programs. This will enable you to take advantage of the values in multiple programs without being locked into any particular one. Here are the partners of Chase Ultimate Rewards:
- AerLingus AerClub
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue AIR FRANCE KLM
- JetBlue TrueBlue
- Iberia Plus
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
- IHG® Rewards Club
- Marriott Bonvoy™
- World of Hyatt®
Chase Ultimate Rewards can be really useful. As part of the best award trip I ever booked, I had my dad transfer Chase points to Hyatt to book a room during their layover. With taxes, the room would have cost $280. Getting 1.86 cents per point would make the 80,000 sign up bonus worth $1,500.
The Chase Ink Business Preferred is a great card to get for its AMAZING sign-up bonus and to keep for the benefits and bonus categories. If you’re a business that does anything online, earning 3x points on cable, cell phone, internet advertising is a large amount of your spending. Earning 3x on travel is also a great return.
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This post first appeared on Your Mileage May Vary