Whether your credit card has an annual fee of $1 or $1,000, it’s worth evaluating that annual fee every time you need to pay it to see if you can justify the cost over the next year.
of Ink Business Preferred Credit Card The annual fee is low at $95, but is it worth it? It’s not free to keep this card in your wallet every year.
Take a look at the perks and benefits the Ink Business Preferred card offers and see if the annual fee is worth it for the second year and beyond.
new applicant Prioritize ink business Earn 100,000 bonus Ultimate Rewards points when you spend $15,000 within 3 months of opening your account. TPG values Ultimate Rewards points at 2 cents each, so this bonus is worth $2,000.
Related: How to Meet the Ink Business Preferred Minimum Spend
You’ll notice that Chase says this bonus is worth $1,000 in cash back, or $1,250 if you redeem your points at the Chase Travel Portal. In the latter, if he has Business Preferred, he can use his points like cash to book travel at 1.25 cents each ( Chase Sapphire Preferred Card But I’m shy of the 1.5 cents per point value available with this redemption. Chase Sapphire ReserveSapphire Preferred also allows you to redeem your points for statement credit in 1-cent increments.
Related: Perspective: Can I redeem my points and are they worth it?
However, you can get much more value out of your points than 1.25 cents. Redeem points for hotel stays and flights with Chase’s airline and hotel transfer partners. You can get even more value here.
Related: How to redeem your Chase Ultimate Rewards points for maximum value
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cell phone protection
Protect your phone from theft and damage when you pay your monthly wireless bill with an Ink Business Preferred card. This applies to you and all employees listed on your wireless bill.
This benefit covers phones associated with your wireless account up to $1,000 per bill. Each claim is subject to a $100 deductible and you can make up to 3 claims in a 12-month period.
Related: How to File a Cell Phone Insurance Claim for Ink Business Preferred
Shopping and travel protection
Ink Business Preferred offers two types of shopping protection: purchase protection and extended warranty protection.
Purchase Protection covers new purchases against damage or theft for up to 120 days. This benefit can cover the cost of repairing or replacing items, with a limit of $10,000 per claim and $50,000 per account. Excludes animals, living plants, motorized vehicles, etc.
RELATED: A Guide to Chase Ink Business Credit Cards
Extended warranty protection adds an extra year to your 3 year or less manufacturer warranty. This benefit is up to $10,000 per claim and up to $50,000 per account. To be eligible, the warranty must be issued in the United States.
Take advantage of pay-as-you-go roadside dispatch benefits as needed during your travels. This is useful for things like lockouts, dead batteries, and tire punctures.
When renting a car, if you pay the full rental price with Ink Business Preferred, you can opt out of the car rental company’s collision insurance and receive Collision Damage Waiver Cover. This benefit can cover the cost of repairing or replacing your rental car. This is your primary coverage if you are renting for business purposes, renting outside your country of residence, or if you do not have your own auto insurance. Coverage applies to rentals of 31 days or less and can cover towing fees that may be incurred, but certain types of vehicles are not covered.
Related: 5 Reasons to Get a Chase Ink Business Preferred Credit Card
Plus, you can get up to $5,000 per person and up to $10,000 per trip through trip cancellation and interruption insurance. This benefit covers travel canceled or shortened due to inclement weather, illness, etc., and refunds prepaid, non-refundable travel expenses. And thanks to our travel delay insurance, you’ll be reimbursed up to $500 if your trip is delayed by more than 12 hours.
More information on these benefits can be found in our Benefits Guide for restrictions and exclusions. For more information, see our full Ink Business Preferred card review.
Earn Chase Ultimate Rewards worth TPG at 2 cents each with Ink Business Preferred Cards. These points can be transferred to 14 different airline and hotel partners. You can also redeem your Points for travel at a value of 1.25 cents through the Chase Ultimate Rewards Travel Portal, allowing you to use your Points like cash to pay for travel.
Earn 3 points per dollar spent on your first $150,000 purchase per account anniversary including travel, shipping purchases, internet service, cable service, phone service, and advertising purchases on social media sites and search engines. If you exceed the $150,000 spending limit, you’ll earn 1 point per dollar spent on these purchases and 1 point per dollar spent on all other purchases.
RELATED: Qualifying Purchases With 3x Points With Ink Business Preferred
If your business spends heavily on these categories, you can earn 450,000 points per year after maxing out the $150,000 limit. TPG values these points at $9,000.
Related: How To Maximize Your Compensation With Ink Business Preferred
It’s worth evaluating these revenue categories to see how well they work for your business. You should also consider how well these categories work while holding a personal credit card that allows you to earn Ultimate Rewards points. Chase Sapphire Reserve.
Related: Credit Card Showdown: Chase Sapphire Reserve vs. Ink Business Preferred
Unlike other Chase business credit cards, the Ink Business Preferred card gives you direct access to Chase’s transfer partners.If you have a card with no annual fee such as ink business cash credit card (Like a personal credit card like chase freedom unlimited) I don’t have access to Chase’s transfer partners and need a premium card like Ink Business Preferred or a personal card like Sapphire Reserve. Chase Sapphire Preferred Card Redeem your points this way. Therefore, you should consider not only the points you can earn, but also your redemption options.
Earning Ultimate Rewards points and holding a Chase card with an annual fee is necessary to have a wide range of options for how you can spend your points, and this card meets this requirement.
Ink Business Preferred’s $95 annual membership gives you access to shopping and travel protection, cell phone insurance, and bonus categories that make sense for many businesses. You can also transfer your points to over 10 hotel and airline partners for extra-large redemption value on reward travel.
However, if you already have a card that enables these money transfers and the bonus earning category isn’t right for your business, the annual fee for Ink Business Preferred may not be worth it at any cost.
Official Application Link: Earn 100,000 Bonus Ultimate Rewards Points when you spend $15,000 within 3 months of opening your account. Ink Business Preferred Credit Card.