Chase Ink Preferred with increased 100,000 point sign-up offer

Chase is currently offering an increased 100,000 point sign-up offer for the Ink Preferred business card.  The card already has a great normal sign-up bonus of 80k Ultimate Rewards points, so this represents a significant increase.  However, a hefty spending of $15,000 within the first 3 months of card membership is required, so this offer is better tailored to bigger spenders or those who have large purchases coming up.

Ink Preferred card benefits

The Ink Preferred has a $95 annual fee that is not waived for the first year, but the card is definitely worth keeping for its benefits:

  • Earn 3 points per $1 on the first $150,000 spent in combined purchases in the following categories each account anniversary year on travel, shipping, Internet, cable, phone, and advertising purchases with social media sites and search engines
  • Earn 1 point per $1 on all other purchases
  • No foreign exchange transaction fees
  • Cell phone protection benefit
  • Add additional employee cards at no cost
  • Primary rental car insurance for business car rentals (secondary coverage for personal rentals)

The cell phone protection benefit applies as long as you charge your monthly cell phone bill directly to your Chase Ink Preferred card, which would make sense anyway since you earn 3x on cell phone bills.  Chase will reimburse you for up to $600 if your cell phone is accidentally damaged or stolen with a $100 deductible per claim.

100k sign-up bonus value

Ultimate Rewards points can be redeemed directly with Chase for travel at a rate of 1.25 cents per point, so the 100k sign-up bonus is worth at least $1,250.  But you will likely get better value by transferring the points at a 1:1 ratio to any of Chase's travel partner programs, including United, Southwest, British Airways, Singapore Airlines, Virgin Atlantic, Hyatt, etc.  When it comes down to it, you should be able to leverage a 2 cent per point valuation if you book premium class cabins.

Redeem just 110k Virgin Atlantic miles for roundtrip travel on ANA's legendary first class

Who can apply for this card?

Like all Chase cards, the Ink Business Preferred is under Chase's dreaded 5/24 rule, which means that you won't qualify if you have opened 5 or more credit cards in the past 24 months with any and all financial institutions.  However, since it is a business card that does not go onto your personal credit report history, applying for this card will not actually count against 5/24.

Although it's a business credit card, you don't actually have to own a business in order to be eligible for this card.  The thought or plans of starting your own business would technically make you eligible.  It's also possible to qualify if you run a part-time side hustle or a freelance gig.  You must be a for-profit enterprise, but you might be eligible even if you haven’t turned a profit.  Side businesses such as running an AirBNB, selling items on eBay, and even monetizing ads on your YouTube or Blogger account would all in theory qualify as business enterprises.

$15k spending too much?

If you can't spend $15k over the next 3 months, the standard sign-up offer for this card is 80k points after spending a modest $5k in the first 3 months of card membership.  80k is still the best welcome offer Chase has for all of their Ultimate Rewards cards, and you can still get the 80k standard offer through my referral link.

Bottom line

This is an all-time high sign-up bonus for the Chase Ink Preferred card, which in itself is a solid business card.  If you can manage to spend $15k within the next 3 months and aren't under 5/24, then I would definitely apply for this card.  If you can't reach $15k in spending but can hit $5k in the next 3 months, then you should also consider the standard 80k offer through my referral link.

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