Chase Ink Preferred Business Card‎ Business Credit Card Overview

[2024.7 Update] 120k sign-up bonus can now be applied online~

[Updated 2024.6] The 120k sign-up bonus is now available in Chase stores. It is said that the online sign-up link will not be available until July 3. If you want to apply earlier, please go to a Chase branch and ask the bank staff to apply. H/T: DoC

[Updated 2023.7] The new sign-up bonus is still 100k, but the spending requirement has been reduced from $15k to $8k.

【Warning】If you are not a U.S. green card holder or citizen, applying for a Business card is risky! See "Business Credit Card Overview".

Application Link

• Chase Ink Preferred (CIP)

feature

1. 120k sign-up bonus: earn 120,000 UR points after spending $8,000 or more within 3 months after account opening.This is the highest sign-up bonus for this card.
2. The points earned from this card are Ultimate Rewards (UR), and we estimate it to be 1.6 cents/point. See below for a brief introduction. Therefore, its highest sign-up bonus of 120k is worth about $1,920!
3. After you hold this card, you can convert UR points into airline miles or hotel points, which is similar to CSP similar.
4. Travel, shipping, Internet, cable and phone services, advertising purchases made with social media sites and search engines are all tripled UR! The upper limit is $150,000 per year (account anniversary year, not calendar year), which means you can earn up to 450,000 UR per year from these purchases!
5. For the rest of your purchases, you'll earn 1 UR point per $1.
6. Very good purchase protection benefits (Purchase Protection): If the purchased goods are stolen or damaged within 120 days, you can get compensation up to $10000/time.
7. [Limited Time] Earn 5x points on Lyft rides, valid until March 2025.The official link for this event is here.
8. $600 Mobile Phone Insurance: Use this card to pay for mobile phone bills and you can get insurance for damage and theft of your mobile phone. The upper limit of a single compensation is $600, deductible $100.
9. Car rental is primary coverage, provided that the travel is for business purposes.
10. Refer a friend: If you recommend this card to a friend and the application is successful, you can earn 20k UR points for each successful application, with a cap of 100k/calendar year.
11. No Foreign Transaction Fee (FTF).

shortcoming

1. Annual fee is $95. The first year annual fee is not waived if you apply online; if you apply in a physical store, you may be offered an offer to waive the first year annual fee.

Introduction to UR Points

• The main credit cards that can earn UR points include: Chase Freedom Student, Chase Freedom, Chase Freedom Unlimited (CFU), Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), Chase Ink Cash (Business Card), Chase Ink Unlimited (Business Card), Chase Ink Preferred (Business Card), etc.
• The UR points accumulated on each UR card can be transferred to another UR card at any time.
• UR points never expire. Closing a card will cause the UR points accumulated on that card to disappear, but you can just move the UR points to another UR card in advance.
• If you have Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR) or Chase Ink Preferred (business card), UR points can be transferred to some hotel points. One of the most cost-effective ways to use them is to transfer them 1:1 to Hyatt points. UR points can also be transferred to some airline miles. One of the most common and cost-effective ways to use them is to transfer them 1:1 to United Airlines (UA) miles (Star Alliance), and use them together with the miles earned from the UA card to buy a return ticket to China. Other recommended miles include: Southwest Airlines (WN) (non-alliance), British Airways (BA) (Oneworld), Virgin Atlantic (VS) (non-alliance), etc. If used in this way, the points are worth about 1.6 cents/point.
• If you have Chase Sapphire Reserve (CSR), you can redeem your UR points at a fixed rate of 1.5 cents/point towards bookings of air tickets, hotels, etc. on UR travel portal. If you have Chase Sapphire Preferred (CSP) or Chase Ink Preferred (Business), you can redeem your UR points at a fixed rate of 1.25 cents/point towards bookings of air tickets, hotels, etc. on UR travel portal.
• If you hold any UR card, you can redeem UR points at a fixed rate of 1 cent/point.
• In summary, we estimate the value of UR points to be approximately 1.6 cents/point.
• For more information about the UR points system, see "Maximizing the Value of Credit Card Points" (overview) and "How to Earn UR Points" and "Using UR Points" (very detailed).

Recommended application time

1. [5/24 Policy] If you have 5 or more new credit card accounts (all new accounts, not just Chase accounts) within two years, Chase will not approve your application for this card no matter how high your credit score is. For details on how to circumvent the 5/24 rule, see "Chase 5/24 Rule Explained".
2. If you meet any of the following conditions, you will not be able to get the sign-up bonus and your application will be rejected immediately: (1) You currently hold this credit card; (2) You have received a sign-up bonus for this card within 24 months. Please note that the calculation starts from the time you receive the sign-up bonus, not the time you open the card or close the card.[Correction] There is no such rule in the Chase Ink series!
3. Try not to apply for more than one Chase Business card within three months, otherwise you will most likely be rejected.
4. It is recommended to apply when your credit history is more than one year.

Summarize

The sign-up bonus of this card is very generous. If you are under 5/24, this card is highly recommended. Compared with the old Ink Plus, this card has lost the 5x point earning ability, and the bonus category does not include office supplies, which should be a big loss. As compensation, the point earning ability of other categories has been improved, and the upper limit has been increased from 250,000 UR to 450,000 UR. In general, this card is also a good card, but it is not as brilliant as the previous Ink Plus. It is recommended for people who can really spend a lot in the 3x category. If you don’t want to hold it for a long time, you can downgrade it to the no-annual-fee Ink Cash or Ink Unlimited.

Related credit cards

• Chase Ink Cash
• Chase Ink Unlimited
• Chase Ink Preferred (this article)

Best downgrade option

• Chase Ink Cash
• Chase Ink Unlimited

After applying

• To check the status of your Chase business card application, you can call 800-453-9719. This is an automated call, and the information you get is as follows: Receive decision in 2 weeks: The chances of your application being approved are relatively high; Receive decision in 7-10 days: The chances of your application being rejected are relatively high; Receive decision in 30 days: It just means that further review is needed, and there is no more news to tell you at this time.
• Chase reconsideration backdoor number: 888-270-2127 or 888-609-7805. Chase business card recon may not be easy, you need to be prepared to be asked various business operation details.

Sign-up bonus trend chart

Application Link

• Chase Ink Preferred (CIP)