The Chase Ink Business Preferred card has been around for a few years now and still remains to be 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 a ton of money! While this card is slightly harder to get due to it being a business card (but by no means impossible!), it is one I would definitely consider adding to your wallet.
Chase Ink Business Preferred: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. $95 annual fee.
1. 80,000 Point Offer! A $1,600 Valuation in My Books!
This card currently has the highest available offer out of all of the Chase Ultimate Reward cards. With the Chase Ink Business Preferred 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 60,000 point offer, so 80,000 points cannot be beat! It is actually probably one of the strongest sign up offers amongst all travel credit cards. Yes, you might find a card that has a higher sign up bonus on paper, but their points might not be as valuable.
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 – but I value them as way more! 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, United, British Airways, Singapore 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! While there are some other cards that also offer cell phone protection, the other cards do not allow you to file as many claims per year.
I personally have taken advantage of this benefit 4 times now! Well actually, I took advantage of this benefit twice, my dad once, and my sister once as well – we are on the family plan. 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 Business 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. 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 when 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.
5. I Love Ultimate Reward Points
Ultimate Reward points are one of my favorite point currencies. While I like diversifying my points into many programs to ensure I am able to snag the best flight or hotel option, if you are looking to really put all your efforts into one program, Chase Ultimate Reward points have a strong value and can be extremely flexible. You can either use the points through their travel portal where all points equal 1.25 cents per point (with this particular card), or you can transfer your points to a partner program at a 1:1 ratio.
The partner loyalty programs include: United, British Airways, Singapore Airlines, Air France KLM, Southwest Airlines, Virgin Atlantic, Iberia, Aer Lingus, JetBlue, Hyatt, IHG, Marriott, Ritz-Carlton. On the hotel front, my favorite partner is Hyatt — their points are worth more then the others giving you a better valuation. For example, you can stay at the Andaz Papagayo in Costa Rica (a Hyatt property) for only 20,000 Hyatt points per night — thus requiring only 20,000 Ultimate Reward points. Rates at this property can easily be over $500 a night, meaning each Ultimate Reward point is worth over 2.5 cents per point! For the airlines, I’d say United, British Airways, Iberia, Singapore Airlines, and Air France/KLM will give you the best valuation — especially since they have a ton of partners for everyones needs! For example, you can fly roundtrip in business class from Boston or Chicago to Spain for 68,000 Iberia Avios points — again requiring 68,000 Ultimate Reward points. This business class flight can easily cost over $4,000 (something I’d never pay for!), making each point worth well over 5 cents per point!
The Chase Ink Business Preferred is by far one of my favorite credit cards which will always hold a spot in my wallet. The sign up bonus is great to incentivize you to apply for the card and the cell phone protection is worth it on a yearly basis and has made my $95 annual fee well worth it in my household!
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