How to maximize your rewards earning with the Ink Business Preferred
Editor's Note
Quick summary
The Ink Business Preferred® Credit Card offers the largest sign-up bonus of any credit card that earns Ultimate Rewards points, often by a large margin. That makes it one of the most enticing travel credit cards on the market.
New cardholders can earn 90,000 Chase Ultimate Rewards points after spending $8,000 on purchases in the first three months from account opening. That's worth $1,845 in travel, per TPG valuations (and a lot more if you know how to redeem Chase Ultimate Rewards for maximum value).
The card also offers outstanding everyday earning rates thanks to a multitude of bonus categories. Let's look at the best times to swipe your Ink Business Preferred to save money and earn points.
Related: Do I need a business to get a business credit card?
Overview of the Ink Business Preferred
Geared toward small businesses, here are the key benefits of the Ink Business Preferred:
- Earning rates: Earn 3 Ultimate Rewards points per dollar on the first $150,000 spent in combined travel, shipping, internet, cable and phone services and advertising purchases made with social media sites and search engines. Earn 1 point per dollar on other purchases.
- Cellphone protection: When you charge your monthly cellphone bill to the Ink Business Preferred, you and eligible employees on the plan receive up to $600 per claim for damage or theft of cellphones (up to three claims in a 12-month period with a $100 deductible per claim and an $1,800 limit).
- Purchase protection: Eligible items damaged or stolen within 120 days of purchase are covered up to $10,000 per claim (up to $50,000 per account).
- Trip cancellation/interruption insurance: Trips cut short for covered reasons such as illness or severe weather are eligible for up to $5,000 of coverage per person for prepaid, nonrefundable travel expenses per 12-month period.
- Trip delay reimbursement: Trips delayed by a covered hazard for 12 or more hours or requiring an overnight stay are eligible for up to $500 in reimbursement per ticket toward reasonable expenses.
- Baggage delay insurance: If your bags are delayed six or more hours, you're entitled to up to $100 per day for up to five days.
- Primary car rental coverage: Pay for your business rental car entirely with the Ink Business Preferred card and you'll be covered for theft and damage (in most countries) up to the actual cash value of your rental car. The vehicle must be rented for business purposes to receive coverage.
- Extended warranty protection: The card adds one extra year to purchases with a U.S. manufacturer's warranty of three years or less (limit $10,000 per claim and $50,000 per account).
Related: Getting started with points, miles and credit cards to travel
Strategies for maximizing the Ink Business Preferred
The Ink Business Preferred can be rewarding to high-spending small-business owners. There are three types of purchases for which the Ink Business Preferred is a fantastic option.
Flights
You'll earn 3 points per dollar when purchasing airfare (a roughly 6% return, per TPG valuations). Considering the comprehensive travel insurance that comes with the Ink Business Preferred, there aren't many better cards to use when reserving flights.
Aside from the strong earning rate, If your trip is delayed by 12 hours or more, or if your flight delay results in you staying overnight, you're eligible for up to $500 in reimbursement per ticket for reasonable expenses. That includes things like a hotel stay, meals and transportation.
Plus, you'll receive baggage delay insurance, wherein Chase will reimburse you for "reasonable expenses" when your bags are delayed by more than six hours. You'll receive $100 daily (for up to five days) for essentials like toiletries, clothing and electronics chargers.
Car rentals on business trips only
The Ink Business Preferred earns 3 points per dollar on rental cars — another effective 6% return.
Depending on the nature of your small business (or lifestyle in general), this expense might not contribute to a meaningful amount of your spending. But it's still one of the best cards for reserving a rental car because of the primary coverage you'll receive when reserving for business purposes. When you waive the rental agency's in-house CDW, the Ink Business Preferred will cover you for theft and damage up to the cash value of the rental car.
The insurance offered by the rental agency can cost $15 or more per day, so being covered by your credit card is a great benefit.
Cellphone bill
You'll earn 3 points per dollar on cable and phone services, which includes your monthly phone bill. Again, this expense alone probably won't earn you enough points for a luxurious vacation, but remember that you'll also receive cellphone protection.
By paying your bill with the Ink Business Preferred, you'll get up to $600 in coverage against damage or theft per claim. This also applies to any eligible members on the same plan. There is a $100 deductible per claim, and you're limited to three claims per 12-month period. The maximum coverage you can receive in a 12-month period is $1,800. Still, that coverage can be more than enough to safeguard you against common mishaps.
Related: How to decide when to use cash or miles for buying airline tickets
When not to use the Ink Business Preferred
Conversely, here's when not to use your Ink Business Preferred:
Unbonused spending
The card earns 1 point per dollar on all expenses that don't fall into a bonus category. That's not very noteworthy, considering other Chase Ultimate Rewards points-earning cards earn significantly more for those purchases.
Even the no-annual-fee Chase Freedom Unlimited® earns a minimum of 1.5% cash back on purchases — a 50% increase over the Ink Business Preferred. And as long as you've still got the Ink Business Preferred — or the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, for that matter — you can transfer those rewards to the program's valuable airline and hotel partners.
Depending on your major spending categories, one of those might be a better choice than the Ink Business Preferred.
Car rentals on personal trips
In case you didn't catch the disclaimer above, Chase will only cover your car rental with the Ink Business Preferred if you're renting for business purposes. You may get away with it, but if Chase presses you about the nature of your rental, be prepared to provide proof that you were, in fact, traveling for business.
Aside from the terms on car rental coverage, you shouldn't be using your business card to pay for a personal car rental to begin with. Business cards are intended to be for business expenses only. If Chase questions your car rental charge and you're unable to prove that it was a business expense, your account could be shut down or your rewards may be clawed back.
Related: 6 business credit card tips everyone should follow
Bottom line
The Ink Business Preferred is a fantastic card for spending on airfare, phone bills and rental cars for work trips. It earns a healthy 3 points per dollar on these purchases and provides some of the best credit card travel protections for these expenses.
The card's bonus categories are very business-focused, but if most of your spending happens outside these categories, read our guide to the Chase Trifecta to learn how to become a serious Chase Ultimate Rewards points-earning machine.
To learn more, read our full review of the Ink Business Preferred.
Apply here: Ink Business Preferred