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Whether your credit card annual fee is $1 or $1,000, it’s important to assess whether you can justify the expense for the next year each time you pay the payment.
of Ink Business Preferred Credit Card It has a low $95 annual fee, but is it worth it? It’s not free to keep this card in your wallet every year, so what do you get for the $95 you pay each year?
Let’s take a look at the perks and benefits offered by the Ink Business Preferred card to see if the annual fee is worth two or more per year.
Welcome bonus
New applicants b Color trade is preferred After spending $15,000 on purchases within three months of account opening, you can earn 100,000 bonus Ultimate Rewards points. TPG values Ultimate Rewards points at 2 cents each, making this bonus $2,000.
Related: How to meet minimum spend on Ink Business Preferred
Chase You’ll notice that this bonus is worth $1,000 in cash back or $1,250 in travel when points are redeemed in the Chase travel portal. The latter allows you to redeem your points as cash at 1.25 cents each. Chase Sapphire Preferred Card But just shy of the 1.5 cents-per-point value on this redemption Chase Sapphire Reserve. The Sapphire Preferred also allows you to redeem points as statement credit at 1 cent each.
Related: Viewpoints: Can I cash out my points, and is it worth it?
However, you can get better value from your points than 1.25 cents each. Using Chase airline and hotel transfer partners allows you to use your points on hotel stays and flights. You can find more value here.
Related: How to redeem Chase Ultimate Rewards points for maximum value
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Mobile phone protection
If you pay your monthly wireless bill with your Ink Business Preferred card, you can get cell phone protection against theft or damage. This applies to you and any employees listed on your wireless account.
With this benefit, phones linked to a wireless account are covered up to $1,000 per claim. Each claim is subject to a $100 deductible with a maximum of three claims in a 12-month period.
Related: How to Apply for Preferred Mobile Phone Insurance for Color Business
Purchase and travel protection
The Ink Business Preferred offers two types of purchase 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 your item and has a claim limit of $10,000 and a single account limit of $50,000. However, there are exceptions, such as animals, living plants, and motorized vehicles.
Related: Your Guide to Chase Ink Business Credit Cards
Extended warranty protection adds an additional year to manufacturers’ warranties of three years or less. This benefit has a limit of $10,000 per claim and $50,000 per account. The securities must be issued in the United States to qualify.
While traveling, you can take advantage of roadside delivery benefits for pay-as-you-go assistance when needed. This can help with locks, dead batteries or flat tires for example.
When you rent a car, you can decline the rental company’s collision insurance and get collision coverage if you pay the full cost of the rental with your Ink Business Preferred. This benefit can cover the cost of repairing or replacing your rental vehicle. This is primary coverage when renting for business purposes, when renting outside your country of residence or if you don’t have your own car insurance. The coverage applies when your rental is 31 days or less and may cover any towing fees you may incur, but it does not cover certain vehicles.
Related: 5 Reasons to Get the Chase Ink Business Preferred Credit Card
In addition, trip cancellation and interruption insurance can cover you up to $5,000 per person and $10,000 per trip. This benefit covers trips canceled or cut short due to severe weather and illness, and refunds your prepaid travel expenses. You may also be reimbursed up to $500 for expenses incurred when your trip is delayed by 12 hours or more, with travel delay insurance.
You can see full details of these benefits in the Benefits Guide to know about limitations and exclusions. Check out our full review of the Ink Business Preferred Card for more information.
Other benefits
When you use your Ink Business Preferred card, TPG earns Chase Ultimate Rewards worth 2 cents every time you use it. You can transfer these points to 14 different airline and hotel partners. You can also use your points as cash to redeem your points for travel through the Chase Ultimate Rewards travel portal at a cost of 1.25 cents per trip.
Earn 3 points per dollar on the first $150,000 of purchases on each account anniversary in these categories: travel, cruise purchases, internet services, cable services, phone services and advertising purchases on social media sites and search engines. You will earn 1 point on these purchases once you exceed the $150,000 spending limit and 1 point per dollar.
RELATED: Purchases eligible for Triple Points are eligible for the Color Trade
If your business has high expenses in these categories, it can generate 450,000 points each year after raising the $150,000 threshold. TPG values these points at $9,000.
Related: How to Maximize Rewards at Ink Business Preferred
It’s worth reviewing these income categories to see how well they work for your business. As with personal credit cards that earn rewards points, you should consider how well these categories work for you. Chase Sapphire Reserve.
Related: Credit card review: Chase Sapphire Reserve vs. Ink Business is preferred
Unlike other business credit cards from Chase, you have direct access to Chase’s transfer partners when you hold the Ink Business Preferred card. Those who hold cards without an annual fee Ink Business Cash Credit Card (Also like personal credit cards Chase Freedom Unlimited) you don’t have access to Chase transfer partners and want a premium card like the Ink Business Preferred or personal cards like the Sapphire Reserve. Chase Sapphire Preferred Card To redeem points in this way. Therefore, you should consider not only the points you can earn, but also the redemption options.
Having a Chase card that earns Ultimate Rewards points and has an annual fee is important so that you have a wide range of options for how you can use your points—and this card meets that requirement.
at last
With Ink Business Preferred for a $95 annual fee, you get shopping and travel protection, cell phone insurance, and bonus categories that make sense for many businesses. You can transfer your points to more than a dozen hotel and airline partners.
However, if you have a card that allows these transfers and the bonus categories don’t work for your business, the annual fee on the Ink Business Preferred may not be worth it — no matter how much it costs.
Official App Link: Earn 100,000 Bonus Ultimate Rewards after spending $15,000 on purchases within three months of account opening. Ink Business Preferred Credit Card.
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