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Ink Business Preferred Review…

  • Cons
    • Comparatively high APR: 17.49% to 22.49% variable is higher than several comparable cards
    • Annual fee: Your $95 yearly fee starts immediately, unlike some cards that offer the first year free
    Pros Cons

    • Strong rewards program
    • 25% boost in rewards points
    • No foreign transaction fees
    • Comparatively high APR
    • Annual fee

    Who Should Get Ink Business Preferred

    Best for: Small business owners who conduct business abroad. If you have international suppliers or regularly travel for business outside the U.S., you’ll benefit from the Chase Ink Business Preferred Card’s $0 foreign transaction fees.

    You’ll also be able to boost your points by 25% when redeemed for travel.

    Not for: Small business owners who plan to carry a balance month to month. With the comparatively high 17.49% to 22.49% variable APR and no 0% APR introductory period, you’ll begin incurring interest charges immediately.

    Main Benefits

    Strong rewards program

    For many small businesses, travel, shipping, internet, cable, phone, and online advertising combine to make up a sizable chunk of the budgetary spending.

    Earning 3x rewards points on these categories is a compelling reason to choose the Chase Ink Business Preferred Card. The 3x rewards points are capped at $150,000 per year, but this amount is reasonable for many small businesses.

    25% boost in rewards points when redeemed for travel

    Your rewards points are automatically worth 25% more when you redeem them for travel.

    Not only does this apply to all your earned points, but it also applies to the 80,000 bonus points you receive when you spend $5,000 within the first three months. So if you redeem your 80,000 points (normally an $800 value) for travel, your bonus points are worth $1,000!

    No foreign transaction fees

    The Chase Ink Business Preferred Card is one of the few small business credit cards that doesn’t charge foreign transaction fees. Foreign transaction fees for most cards come to 3% of each transaction, so if you travel abroad regularly or use your card to pay international suppliers or service providers, you can save some money by choosing the Ink Business Preferred Card.

    Possible Drawbacks

    Comparatively high APR

    At the variable rate of 17.49% to 22.49%, the Ink Business Preferred Card comes with a higher interest rate than many comparable cards, which offer rates as low as 13.74% like the Bank of America® Business Advantage Cash Rewards Mastercard.

    If you pay off your card in full each month, this may not be a relevant consideration for you. But if you carry a balance, you’ll be hit just a little harder by interest charges with the Ink Business Preferred Card.

    Annual fee with no introductory period

    The Chase Ink Business Preferred credit card comes with a $95 annual fee, which is a reasonable expense for a card offering this level of rewards.

    However, while some cards offer the first year free, the Ink Business Preferred Card makes no such offer, which is somewhat disappointing because there is no 0% introductory APR period to offset the immediate start of this annual fee.

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