INSIDER SECRET: If you’ve got your eye on multiple Chase credit cards, it’s best to apply for their business cards first. You’ll improve your chances of landing multiple approvals because Chase’s business cards do not count towards their strict 5/24 application rule.
If you’re a small business owner, you can probably relate to the pain of having expenses eat away at your profits. Office supplies, cable bills, cell phone bills, marketing material … sometimes it seems like the bills never stop coming!
If you can relate to those feelings, you should consider the Ink Business Preferred Credit Card, because in addition to strong earning rates for many purchases, you’ll receive a number of benefits that can save you a ton of money in the long run, such as cell phone insurance, extended warranty and trip delay coverage.
And if you apply for the card right now, you can earn an intro bonus of 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases within the first three months of account opening. That’s worth $800 in cash back, $1,000 in travel when you book through the Chase Ultimate Rewards travel portal and potentially much more when you transfer points to airline and hotel partners.
You can apply for the Chase Ink Business Preferred here.
Business owners across all industries can take advantage of these five Chase Ink Business Preferred benefits just by being a card member. (Photo by g-stockstudio/Shutterstock)
The card is geared for business owners, but you may already qualify as a business owner without realizing it. You can apply as a sole proprietor using just your social security number.
I’ll walk you through five Chase Ink Business Preferred benefits you’ll get just by being a card holder!
Chase Ink Business Preferred Benefits
Apply Here: Ink Business Preferred Credit Card
Read our review of the Chase Ink Business Preferred
The Ink Business Preferred Credit Card currently has the highest welcome bonus of any Chase Ultimate Rewards card. You’ll earn 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases within the first three months of account opening.
Chase Ultimate Rewards points are our favorite because they’re incredibly flexible with a number of fantastic redemption options. The Ink Business Preferred welcome bonus is worth $1,000 in travel if you redeem your points through the Chase Travel Portal. But you can also transfer the points to any of Chase’s travel partners and get potentially much more value from flights, rental cars and hotels.
You’ll also earn the following for your purchases:
3x Chase Ultimate Rewards points per dollar you spend on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year)
1x Chase Ultimate Rewards point per dollar on all other purchases
The $95 annual fee is NOT waived for the first year, but given the great earning rates and perks the card offers, you can easily come out ahead.
Here are some of the top benefits on this card that can save you hundreds, and possibly thousands of dollars!
Cell Phone Protection
Our smartphones are a huge part of our lives. It’s how we stay connected to everyone and keep productive, especially as a business owner.
If you accidentally drop your phone, spill something on it or otherwise damage it, that could mean hours of lost productivity. Time is money, and without insurance, you’d still have to pay several hundred dollars to repair or replace the phone.
Fortunately, the Ink Business Preferred Credit Card has your back with up to $600 in cell phone insurance. You’ll be covered as long as you pay your monthly cell phone bill with the card. Here’s more about the Chase Ink Business Preferred cell phone insurance.
You can read the fine print in Chase’s Guide to Benefits, but here are a few key facts about the coverage:
You can make up to three claims in a 12-month period, each with a $100 deductible
Lost phones are not covered (but stolen phones are)
Covered phones must have been purchased brand new
Coverage includes employees listed on your monthly cell phone bill
Dealing with a cracked screen on your phone is never fun, but with the Ink Business Preferred’s cell phone insurance, you’ll be covered for up to $600 in damage after a $100 deductible. (Photo by Poravute Siriphiroon/Shutterstock)
Primary Rental Car Coverage
Rental car insurance is something you’ll probably be thinking about if you decide to rent a car to explore a new city. But is there a better alternative to the expensive coverage offered through the rental car agencies?
Hopefully, you’ll never have to use this benefit, but if you do you can travel with peace of mind because with the Ink Business Preferred Credit Card, you’ll have primary rental car insurance when you rent a vehicle for business purposes within the US. If you rent a car overseas, you’ll be covered for personal and business car rentals.
As long as you decline the coverage offered by the rental agency, the primary coverage offered through the Ink Business Preferred Credit Card means you’re protected for things like physical damage due to theft or collision to your rental car. And perhaps the best part is that you will NOT have to file a claim with your personal car insurance company.
Hopefully, you’ll never be involved in a car accident, but if you are, you’ll be covered with the Ink Business Preferred’s primary rental car insurance when you rent for business purposes in the US. (Photo by Monkey Business Images/Shutterstock)
And we know it works from first-hand experience because primary rental car insurance saved team member Harlan nearly $700 when he noticed a small ding on his rental car.
Lost Luggage and Trip Interruption Coverage
If you pay for at least part of your trip with the Ink Business Preferred Credit Card, you’ll be covered for up to $5,000 of certain prepaid expenses if your trip is canceled or delayed for a qualifying reason, such as weather, illness or injury. Immediate family members and business owners added to the card will also be covered. That means that if you’re traveling with two other family members, then all three of you could potentially be covered for up to $5,000 each.
The Ink Business Preferred Credit Card also provides coverage for lost luggage. So if your luggage is damaged or lost in transit, you can file a claim through Chase to be reimbursed for the cash value of the items damaged or lost. This coverage is limited to a maximum of $3,000, but items like jewelry, watches, cameras and other electronic equipment are only covered up to a maximum of $500.
Airline lose your luggage? You’ll be covered for a maximum of $3,000 with the Ink Business Preferred’s lost luggage insurance. (Photo by pixelrain/Shutterstock)
Extended Warranty and Purchase Protection
There’s no worse feeling than purchasing something brand new, only to have it stolen or damaged. Fortunately, if you purchased the item with your card, you’ll be covered for 120 days up to $10,000 per claim, with a maximum of $50,000 per account.
Items not covered include animals and living plants, antique items, computer software, items purchased for resale, medical equipment, perishables and more.
A full list of items not covered can be found in Chase’s Guide to Benefits.
Shop with confidence! If you purchase an eligible item and it gets stolen or damaged, you’ll be covered for up to $10,000 per claim for the first 120 days. (Photo by Bobex-73/Shutterstock)
There’s a little-known perk on your Ink Business Preferred Credit Card. With the Ink Business Preferred Credit Card, you’ll be covered by roadside dispatch. By calling 800-847-2869 and paying a flat fee of ~$65 per service call, the program provides you various services such as:
Tire change (you must provide a spare tire)
Jump starts for a dead battery
Fuel delivery (up to five gallons)
Having car problems? Don’t fret! The Ink Business Preferred offers you roadside assistance to help you with towing, tire changing, jump starts for a dead battery and more. (Photo by Fotosenmeer/Shutterstock)
Depending on your auto insurance provider, roadside assistance can be quite expensive, so you could save quite a bit of money by relying on the Ink Business Preferred’s roadside dispatch coverage instead.
The Ink Business Preferred Credit Card comes with a welcome bonus of 80,000 Chase Ultimate Rewards points after spending $5,000 on purchases within the first three months of opening the account. That’s worth $1,000 in travel booked through the Chase Travel Portal, and easily much more if you transfer the bonus to Chase’s travel partners!
You’ll also enjoy many money-saving perks which can more than offset the $95 annual fee, such as:
Cell phone protection
Primary rental car coverage (when renting for business purposes in the US)
Trip cancellation/trip interruption insurance
You can apply for the Chase Ink Business Preferred here.
And here are a few additional resources if you’d like to learn more about Chase Ultimate Rewards points:
Chase Ultimate Rewards Review
Chase Points Value
Best Way to Use Chase Points
Chase Transfer Partners
How to Earn Chase Ultimate Rewards Points
How to Setup a Chase Ultimate Rewards Account
How to Transfer Chase Ultimate Rewards Points
Do Chase Ultimate Rewards Points Expire?
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