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Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in o...
A long-time points and miles student, Jessica is the former Personal Finance Managing Editor at U.S. News and World Report and is passionate about helping consumers fund their travels for as little ca...
Juan has been involved in credit cards, loyalty, travel, and personal finance for more than 10 years. He has worked for several outlets including The Points Guy and Forbes and was previously Editor-in...
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In this post, we put the New Business Card! Ink Business Premier℠ Credit Card up against the Ink Business Preferred® Credit Card to help you decide which Chase business card is a better fit for you.
We break down everything you need to know about each card, including their earn rates, benefits, redemption options, fees, and protection benefits. Let’s jump right in!
Ink Business Premier Card vs. Ink Business Preferred Card — Summary
Before we get into more detail, here is a quick breakdown of what each card can offer you.
Earn $1,000 cash-back after you spend $10,000 on purchases in the first 3 months.
NEW OFFER: Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months.
Earning Potential
2.5% cash-back on purchases of $5,000 or more
2% cash-back on all other purchases
3x points on the first $150,000 spent in combined purchases in a number of categories, including advertising purchases made with social media sites and search engines
1x point on all other purchases
Redemption Options
Cash-back via a statement credit, gift cards
Travel through Chase Ultimate Rewards
Chase transfer partners
Chase travel portal bookings (25% bonus)
Cash-back via statement credit, Pay Yourself Back, gift cards
Statement Credits
N/A
N/A
Travel Protections
Auto rental collision damage waiver, travel and emergency assistance services, roadside dispatch
Bottom Line: Both cards have a lot of similarities, but the key differences come down to their rewards structure, with the Ink Business Premier card more focused on cash-back, while the Ink Business Preferred card is tailored towards travel.
The Value of a Welcome Bonus
Credit card welcome bonuses are a great way to earn a sizeable sum of rewards rather quickly. Here is what each card can offer you.
Ink Business Premier Card
With the Ink Business Premier card, you can earn a generous cash-back bonus after meeting the minimum spend requirement. That said, while this cash-back will technically come in the form of Chase Ultimate Rewards points, you won’t have access to any of the Chase travel transfer partners, nor can you transfer your points to a card that does.
All points earned with the card are worth a fixed 1 cent per point, regardless if you decide to redeem them for cash-back, travel, or another option. That said, earning cash-back from the welcome bonus is certainly a great benefit.
Ink Business Preferred Card
New Ink Business Preferred cardholders can earn a considerable number of Chase Ultimate Rewards points after meeting the card’s minimum spend requirement. These points can be redeemed at 1 cent per point for cash-back, 1.25 cents per point through the Chase travel portal (a 25% bonus), or transferred to one of the Chase travel transfer partners where you can unlock redemptions that can easily yield 3+ cents per point.
One of the most important items to consider when deciding on a new card is how many rewards it can help you earn on your purchases.
Bonus Category
Ink Business Premier Card
Ink Business Preferred Card
Travel
2% cash-back
3x points (on up to $150k in combined spend with other 3x categories, then 1x)
Advertising
2% cash-back
3x points (on up to $150k in combined spend with other 3x categories, then 1x)
Internet, Cable, and Phone Services
2% cash-back
3x points (on up to $150k in combined spend with other 3x categories, then 1x)
Shipping
2% cash-back
3x points (on up to $150k in combined spend with other 3x categories, then 1x)
Purchases Larger Than $5,000
2.5% cash-back
1x point
All Other Purchases
2% cash-back
1x point
When it comes to travel, select advertising, and shipping, along with internet, cable, and phone service purchases, you’d fare better by using the Ink Business Preferred card on these purchases below $150,000 in combined annual spend. Even if you prefer cash-back rewards, the 3x points can be cashed out at 1 cent per point, giving you at least 3% cash-back on these purchases — though you can also get significantly more value when redeemed for travel.
Where the Ink Business Premier card shines is its flat 2% cash-back on all purchases and 2.5% cash-back on all purchases over $5,000. Given that, if your business expenses are quite diverse and don’t regularly fall within specific categories, or you often make purchases in excess of $5,000, then the Ink Business Premier card might be a great option for you.
Redemption Options
Ink Business Premier Card
While the rewards earned with the Ink Business Premier card are branded as Chase Ultimate Rewards points, they don’t have the same capabilities as those earned with the Ink Business Preferred card.
Your points will always be worth 1 cent per point and can be redeemed as cash-back to offset purchases made with the card, towards travel purchases made through the Chase travel portal, for gift cards with over 150 different brands, or for Apple products through the Ultimate Rewards store.
Ink Business Preferred Card
Cardholders of the Ink Business Preferred card have a plethora of redemption options, which is why the card is one of our favorite business credit cards.
At Upgraded Points, we love transferring our Chase Ultimate Rewards points to one of the high-value Chase travel transfer partners such as World of Hyatt, Air Canada, or Virgin Atlantic. This way, you can book luxury flights and hotel stays for a fraction of what the standard cash cost would be.
However, for those looking for solid travel redemption with more flexibility, you can redeem your points directly through the Chase travel portal to offset virtually any type of travel purchase for 1.25 cents per point — a 25% bonus. At this value, 100,000 points would get you $1,250 worth of travel toward flights, lodging, rental cars, and more.
Lastly, you still have the option of redeeming your points for cash-back at 1 cent per point, or even gift cards and direct shopping with select merchants at the same rate.
Bottom Line: In terms of flexibility and the ability to get outsized value, the Ink Business Preferred card really takes the cake here. That said, if you are only interested in cash-back rewards, then both cards can be a great option.
Statement Credits
Neither the Ink Business Premier card nor the Ink Business Preferred card offers any sort of statement credits to help offset either card’s annual fee.
Here is how each card keeps you covered during your travels:
Benefit
Ink Business Premier Card
Ink Business Preferred Card
Foreign Transaction Fees
None
None
Rental Car Insurance
Primary when renting for business or outside of the U.S.; secondary coverage for personal rentals in the U.S.
Primary when renting for business or outside of the U.S.; secondary coverage for personal rentals in the U.S.
Trip Cancellation/Interruption Insurance
Not offered
Up to $5,000 per person and $10,000 per trip for your prepaid, non-refundable travel expenses
Travel and Emergency Assistance Services
Yes
Not offered
Roadside Assistance
Yes
Yes
Both cards offer some solid perks, like no foreign transaction fees, which is a must-have for any business owner who makes purchases internationally, and primary rental car insurance. However, we have to give a slight edge to the Ink Business Preferred card thanks to its inclusion of trip cancellation/interruption insurance, which can really come in handy if your trip is disrupted due to a covered situation.
Shopping Benefits and Protections
Both cards offer identical shopping protections, which can be incredibly useful to cardholders, including:
Purchase Protection — Covers new purchases against damage or theft for up to 120 days from purchase with up to $10,000 in coverage per claim and $50,000 per account
Extended Warranty Coverage — Extends a U.S. manufacturer’s warranty by an additional year on eligible warranties of 3 years or less
Cell Phone Protection — Offers up to $1,000 in coverage per claim against covered theft or damage for you and any employees listed on your monthly bill when you pay it with your card, up to 3 claims in a 12-month period with a $100 deductible per claim
Annual Fees and Adding Authorized Users
Annual Fees
The annual fee for the Ink Business Premier card is $195, while the annual fee for the Ink Business Preferred card is $95. Be sure to keep this difference in mind when weighing the merits and benefits of each card to decide which is the better fit for you.
Authorized Users
Neither card charges for adding employee cards. This is a great option for business owners looking to earn the most rewards possible. Of course, you can easily monitor the transactions across all cards, along with setting individual spending limits.
Final Thoughts
As you can see, there is plenty to like about both the Ink Business Premier card and the Ink Business Preferred card. Deciding which card is the better fit for you will come down to what rewards setup you prefer and what type of business expenses you have.
If you’re primarily looking for cash-back and you have diverse business expenses or a large number of expenses that exceed $5,000, then the Ink Business Premier card would likely be better suited for you.
On the other hand, if you prefer flexible rewards with access to travel transfer partners and have a large number of expenses that fall within the travel, shipping, advertising, and utility categories, you would likely fare better with the Ink Business Preferred card.
Featured Image Credit: Upgraded Points
Frequently Asked Questions
Determining which card is better suited for you depends on what you are looking for from your new card. If you want a flexible rewards card that offers access to travel transfer partners, then the Ink Business Preferred card would be a great choice. If you prefer cash-back rewards and your business regularly makes purchases that exceed $5,000, then the Ink Business Premier card would be a better fit.
The top benefits of the Ink Business Premier card are that it earns 2.5% cash-back on purchases larger than $5,000 and 2% cash-back on all other purchases. Plus, it has perks including cell phone protection, purchase protection, and no foreign transaction fees.
The top benefits of the Ink Business Preferred card are that it earns 3x points on your first $150,000 in spending on travel, select advertising, shipping, and internet, phone, and cable services each year. Plus, the card earns flexible rewards that can be transferred to the Chase travel transfer partners and includes benefits such as cell phone protection, purchase protection, and no foreign transaction fees.
Yes, the annual fee for the Ink Business Premier card is $195.
Yes, the Ink Business Preferred card charges a $95 annual fee.
The Ink Business Premier card does not charge foreign transaction fees.
The Ink Business Preferred card does not charge foreign transaction fees.
Boasting a portfolio of over 20 cards, Jarrod has been an expert in the points and miles space for over 6 years. He earns and redeems over 1 million points per year and his work has been featured in outlets like The New York Times.
Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.
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