The Ink Preferred has great spending perks and a 100,000 points sign-up bonus worth at least $1,250 in travel! You must spend $15,000 on purchases in the first 3 months of account opening to earn the 100k Ultimate Rewards point sign-up bonus.
There is a 24-month rule that applies to all Chase credit cards, including those co-branded with a frequent flyer program or hotel chain. You can earn a signup bonus on the same card more than once as long as you no longer have the card and it's been 24 months since your last bonus posted to your account.
However, given that the welcome bonus alone is worth at least $1,250, this makes the card well worth it for everyone for at least the first year. For most people, the Ink Business Preferred is also worth keeping for the long run because the card comes with perks that could save you a lot of cash.
Summary of Applying for the Chase Ink Business Preferred
Having good to excellent credit, business income, and fewer than five new credit cards means you have high approval odds for the Ink Business Preferred® Credit Card.
If you want the best odds of being approved for the Chase Ink Business Preferred, make sure you:
What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.
The Ink Business Preferred card is the winner when it comes to redeeming points for travel since points can be redeemed for 1.25 cents each via the Ultimate Rewards travel portal with no transfers necessary.
No, the Chase Ink Preferred isn't a metal card. Chase has only 2 metal cards: the Chase Sapphire Preferred Card and the Chase Sapphire Reserve. Metal cards are famous not only for their looks, but their more lucrative rewards, rates, fees and other perks.
To initiate a Chase Ink Business Preferred downgrade, call customer service at 1 (800) 432-3117 or send a secure message from an Ink Business Preferred online account. ... The Ink Business Preferred account must be open for at least 12 months to qualify for a downgrade.
If you transfer your points to an airline or hotel program, the value you get depends on how you redeem them in those programs. Does the Chase Ink Preferred have a fee? Yes. The annual fee is $95.
You can't apply for Chase Ink Preferred without a business. ... Your business could be as simple as regularly selling things on eBay or Etsy, or being a freelance writer or artist. If you're a sole proprietor, you don't even need the business to have its own tax ID number. You can use your Social Security number instead.
How long does it take to get approved for a Chase credit card? Many credit card approvals can happen immediately. If you don't get an immediate approval, you will most likely get a decision in 7-10 business days. However, sometimes it can take up to 30 days.
There are several easy approval business credit cards. That's because the easiest business credit cards to get only require fair or bad credit. They include Capital One Spark Classic for Business, the Staples Business Credit Card, and the Wells Fargo Business Secured Credit Card.
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