The Credit Card With The Single Best Welcome Bonus

Filed Under: Chase, Credit Cards
In the interest of full disclosure, OMAAT earns a referral bonus for anyone that’s approved through some of the below links. These are the best publicly available offers that we have found for each card. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Please check out my advertiser policy for further details about our partners, and thanks for your support!

When considering the value you can get out of credit cards, I think of the welcome bonus, the return on spend, and the perks the card offers. When you take all of those things into account, I don’t think there’s a card more compelling than the Ink Business Preferred℠ Credit Card.

For well over two years now the card has offered the single best publicly available welcome bonus of any credit card (by my valuation), so in this post I wanted to look at what makes this card so lucrative, for any small business owner who doesn’t have it:

A big 80,000 point welcome bonus

The Ink Preferred Card was launched in November 2016, and is intended to be the business version of the Chase Sapphire Preferred® Card. The card has a massive welcome bonus of 80,000 Ultimate Rewards points after spending $5,000 on purchases within the first three months. Those points can be combined with the Ultimate Rewards points earned on other cards.

I value Ultimate Rewards points at 1.7 cents each, so to me the 80,000 points are worth ~$1,360.

The card has a reasonable $95 annual fee, but for that, you get an incredible return on spend and also some great purchase protection.

Triple points on great bonus categories

The Ink Preferred Card offers triple points in the following categories:

  • Travel
  • Shipping purchases
  • Internet, cable and phone services
  • Advertising purchases made with social media sites and search engines

You earn triple points on the first $150,000 spent in combined purchases in the above categories each account anniversary year (which means they’re not using a January 1 through December 31 calendar, but rather it’s based on when you applied).

That’s a huge return on spend, and makes this one of the most valuable business credit cards, in my opinion. I especially like the triple points on all travel purchases, which can be a huge category for many.

Great protection benefits

In addition to a huge welcome bonus and a great return on spend, the card also has some other valuable perks that you don’t see on many other business cards. Specifically, the Ink Preferred Card offers:

  • Primary collision damage waiver coverage
  • Trip cancelation and interruption coverage, of up to $5,000 per trip
  • Extended warranty protection, for up to a year on eligible purchases
  • Cell phone protection of up to $600 per claim

That last point is a unique benefit you don’t see on many cards. The coverage is for up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Ink Preferred Card. You can make at most three claims in a 12 month period, and there’s a $100 deductible per claim.

This is huge, as this is the best cell phone protection benefit I know of on any major business card (and who hasn’t broken their cell phone at one point or the other?).

Terms and conditions apply to each of the above, so make sure you read the cardmember agreement to figure out all the rules associated with this.

This card lets you maximize the value of four no annual fee cards

While the Chase Sapphire Preferred® CardInk Business Preferred℠ Credit Card, and Chase Sapphire Reserve® Card are valuable alone, they also make other cards more valuable.

Specifically, Chase has four fantastic no annual fee cards that can help you earn more Ultimate Rewards points:

By having a card that earns Ultimate Rewards points, like the Ink Business Preferred, you can convert the points earned on the card (where one point is ordinarily wroth a penny) into Ultimate Rewards points, which I value at ~1.7 cents each. So just having this card makes other cards more valuable as well.

Getting approved for the card

The Ink Preferred Card is subjected to Chase’s 5/24 rule, meaning that you won’t typically be approved for the card if you’ve opened five or more new card accounts in the past 24 months.

This card is considered a separate product from the no annual fee Ink Business Unlimited and Ink Business Cash. So you can potentially get all three cards, and there’s plenty of value in getting all three, since the cards have different useful perks.

Also keep in mind that even a small business (including a sole proprietorship) makes you eligible for a business card, so this would include things like having a rental home, selling things online, freelance work, etc. There are lots of benefits to keeping business and personal expenses separated.

If you do have a sole proprietorship, you can use your social security number as your tax identification number for your business, and your name can also be the name of your business.

Bottom line

When it comes to credit cards I look for three things – the welcome bonus, the return on spend, and the long term perks it offers. In all three areas, the Ink Preferred Card excels. If you don’t yet have this card and are eligible, I’d highly recommend applying.

Regarding Comments: The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.
Comments
  1. In your experience how long should I wait between business credit card applications? I applied and got approved for the Ink Cash in mid-April and then the Amex Hilton Business in the end of May (although it doesn’t look like Amex made a hard credit pull for that one, at least I did not receive an alert for it). How long should I wait before applying for the Ink Preferred?

  2. @Lucky I have heard from multiple people that in addition to 5/24 Chase has been aggressively cracking down on people applying for multiple chase cards in a short period of time. Individuals are having all their chase card accounts shutdown as a result. Its not like the old days with chase, so I would look into that and notify readers of the risk of applying for multiple chase cards in a short period of time.

  3. Lucky, do you think there is any reason to keep the old business Ink Bold card?

    My wife has the Bold, I have the Ink Cash and Ink Preferred, as well as CSR. She has the freedom and the no af Sapphire. Even though it’s her only premium card, chase is lenient with transfers to spouses, so I’m not sure there is any justification for the Bold af anymore.

  4. I just don’t see a reason for it when I already have a Sapphire. Ink Cash makes a lot more sense.

    Lucky, with the somewhat recent increases in competition, Amex Gold upgrades, Citi Prestige, etc. What do you think the chances of Chase revamping their Sapphire card are? I’d love to see a bit more value added on a la Platinum card, or some better spend categories. Groceries at 3x is what I imagine, at least in my dreams

  5. Help is welcome. Applied for a CC with great bonus and benefits. Was notified it was declined “pending” further review. They’re asking for a COPY of my SS card. I understand you never give anyone a COPY of that unless it’s a Federal requirement. They also want a COPY of my Driver’s License and bank statement. Is the card worth it? What does anyone think?

  6. @K. I had a similar experience. I was asked for a copy of my ID even though I’ve been their credit card holder for many years now, which I provided, and was then denied.

Leave a Reply

Your email address will not be published. Required fields are marked *