Tag: benefits of business credit cards.

Chase Ink Business Preferred Credit Card

The Chase Ink Business Preferred Credit Card is a highly regarded business credit card issued by Chase. Recognized for its robust rewards program designed specifically for business owners, it combines a wealth of benefits tailored to meet the needs of small and medium-sized enterprises. This comprehensive overview will delve into the cards key features, benefits, and considerations to help you determine if its the right fit for your business expenses.

Card Type

The Chase Ink Business Preferred Credit Card is categorized as a business credit card. This card is ideal for entrepreneurs and business owners looking to maximize their spending through rewards without sacrificing the financial flexibility required in running a business.

Annual Fee

The card comes with an annual fee of $95. While this fee may be a consideration for some, many users find that the benefits and rewards earned often outweigh this cost.

Rewards Program

One of the standout features of the Chase Ink Business Preferred Credit Card is its lucrative rewards program. Cardholders earn three points per dollar spent on the first $150,000 spent in combined purchases at select business categories, which include travel, shipping, internet services, and advertising purchases made with social media sites and search engines. All other purchases earn one point per dollar.

These points can be redeemed for various options such as cashback, travel rewards, or even gift cards, offering flexibility in how you utilize your rewards.

Sign-Up Bonus

New cardholders can take advantage of a generous sign-up bonus of 100,000 points after spending $15,000 on purchases in the first 3 months from account opening. This bonus has the potential to be worth $1,250 when redeemed for travel through the Chase Ultimate Rewards program.

APR (Annual Percentage Rate)

The Chase Ink Business Preferred Credit Card features a variable APR ranging from 20.49% to 25.49%, depending on creditworthiness. There are often promotional offers such as an introductory APR of 0% for the first 12 months on purchases which can be particularly beneficial for new business owners looking to manage cash flow.

Foreign Transaction Fees

This card is advantageous for business owners who travel abroad, as it comes with no foreign transaction fees. This means you can use your card for international purchases without the worry of extra costs.

Balance Transfer Options

For those looking to manage existing credit card debt, the Chase Ink Business Preferred offers balance transfer options. Current promotions may include transferring balances at a 0% introductory APR for a specific period, though it’s advisable to check the latest offers directly, as these can vary.

Additional Fees

Aside from the annual fee, users should be aware of late fees which can be up to $39. Similarly, cash advance fees are typically around the greater of $10 or 5% of the amount transferred. Being mindful of these can help avoid unexpected costs.

Card Benefits and Perks

The Chase Ink Business Preferred Credit Card comes packed with benefits and perks that enhance its value. These include travel insurance, coverage for trip cancellation, and emergency assistance. Users enjoy access to exclusive events as well as discounts on services through Chase’s partners.

Customer Protections and Insurance

Cardholders will appreciate the comprehensive customer protections in place, such as fraud liability protection, which ensures financial security against unauthorized transactions. Additionally, purchase protection covers eligible purchases against theft or damage, and rental car insurance provides coverage when renting vehicles for business purposes.

Eligibility and Credit Score Requirements

To be eligible for the Chase Ink Business Preferred Credit Card, applicants typically need a credit score of at least 700 or higher. However, additional factors such as income and business financials will also be considered.

Introductory Offers

As mentioned, this card features an introductory 0% APR offer for the first 12 months on purchases, aiding businesses that may need to manage initial expenditures without accruing interest.

Special Features or Unique Selling Points

Distinctively, the card offers unique features such as the ability to transfer points to numerous hotel and airline partners, enhancing travel opportunities for businesses. The integration with the Chase Ultimate Rewards program allows for valuable flexibility in redeeming travel rewards.

How to Apply

Applying for the Chase Ink Business Preferred Credit Card is simple. Interested individuals can visit the ‘>Official Website and start reaping the benefits of smart financial management. For more financial insights, visit UpCube.net.