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The Chase Ink Preferred card has been around for a little over two years and it quite possibly my favorite of all the Chase Ultimate Reward earning credit cards. Not only does it come with a 80,000 point sign up bonus, it also comes with some great benefits that has recently saved me over $500! While this card is slightly harder to get due to it being a business card, it is one I would definitely consider adding to your wallet. Learn more.
1. 80,000 Point Offer!
This card currently has the highest available offer out of all of the Chase Ultimate Reward cards. With this card, you’ll earn 80,000 bonus points after spending $5,000 on the card within the first three months. The next Ultimate Reward card has a 50,000 point offer, so 80,000 points cannot be beat! Learn more
The points earned with the card are worth 1.25 cents each when booked through the Chase Ultimate Rewards travel portal. That means the 80,000 point sign up bonus is worth a MINIMUM of $1,000 towards travel. Or, if you have the Chase Sapphire Reserve, you can transfer your points to that account and your points are then worth a minimum of 1.5 cents each! These points can also be transferred to loyalty partners where you could potentially receive a higher value based on how you redeem your points. Some popular transfer partners include Hyatt, Marriott, United, British Airways, Korean Air, etc. I personally value my Chase Ultimate Reward points at a minimum of 2 cents per point, so I value this sign up offer at $1,600!
2. Amazing Cell Phone Protection Insurance
This card is one of the few credit card that carries cell phone protection. As long as you pay your monthly cell phone bill with your Chase Ink Preferred credit card, you are covered! This means if you lose or break your phone, you will be reimbursed the cost of replacing the phone or getting it fixed. You are allowed to file a claim 3 times per year and will be reimbursed up to $600 each time, minus a $100 deductible. Not only are you covered, so is everyone else on your bill!
I personally just took advantage of this benefit twice within the past few months! Both times my phone broke and would not turn on. I was able to purchase the exact same phone and received a check in the mail for the cost of the new phone, minus the $100 deductible. Submitting the claim was an easy process and the check came within a few weeks. I was actually surprised at how seamless the process was. You can learn more about the Chase Ink Preferred cell phone protection here.
3. Earn 3x Points on Travel
Both the Chase Ink Preferred and the Chase Sapphire Reserve will give you 3x points on all travel purchases, which is more then any of the other Chase Ultimate Reward earning cards. But, the annual fee for the Chase Ink Preferred is significantly less then the fee on the Chase Sapphire Reserve. And while there are some American Express cards out there that will give you 5x points on travel purchases, I would never purchase a flight on an Amex card due to the lack of travel protection. With the Chase Ink Preferred (along with many other Chase credit cards), you receive travel insurance in case your flight is delayed or cancelled causing you to spend more money on an extra hotel or food costs. You also receive baggage protection in case your bags are delayed. Not only that, if you need to cancel your trip due to a sickness or other covered reasons, if you paid with your Chase card you are covered. American Express will not cover you! So for those reasons, I 100% ALWAYS pay with a Chase card that carries these benefits.
4. Make Money with Plastiq
Plastiq is an awesome way to earn points and miles by using a credit card to pay bills where you typically couldn’t use a credit card to pay direct. These bills include rent, car loans, utilities, school tuition, taxes etc. Visa and Amex do not allow you to pay your mortgage through Plastiq, therefore, you cannot use your Chase Ink Preferred card to pay your mortgage. While Plastiq does come with a fee, if you use your Chase Ink Preferred card you can actually come out ahead!
Right now, Plastiq charges a 2.5% fee, but for some reason, Chase is coding Plastiq payments as a 3x point bonus category with the Chase Ink Preferred card. So let’s say you have a $1,000 bill to pay, Plastiq will charge you a $25 fee. But on the flip side you’ll earn 3,000 Chase Ultimate Reward points. Even if you redeem your points as cash back, it is a fixed value where every point equals a penny. That means 3,000 points will earn you a fixed $30 statement credit – putting you ahead of the fee you paid to Plastiq! Now I personally prefer to get a much better value from these points and only redeem with a partner hotel or airline a minimum of 2 cents per point. That means those 3,000 points equals $60 towards travel – definitely making Plastiq worthwhile! You can learn more about making money with Plastiq by using your Chase Ink Preferred credit card here.
5. It Does Not Count Against Your “5/24” Number
Since this is a business card it will NOT count against the number of cards that fall within the “5/24” rule when looking to apply for another card. That is one great perk of applying for a Chase business credit card and means that you should apply for this card (or another Chase business card) PRIOR to applying for a Chase personal credit card.