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Many people liked the Chase Ink Plus because you can earn up to 5 points per $1. And, those Ultimate Rewards points can be redeemed for award travel or transferred to a Chase travel partner. The only problem is that you can no longer apply for the Ink Plus since it’s been replaced by the Ink Business Preferred® Credit Card! Don’t worry, Chase still offers a business credit card that earns Ultimate Rewards.
What The Chase Ink Plus Offered
The Chase Ink Plus will be missed. After all, you could earn 5 points per $1 on the first $50,000 spent at office supply stores and phone, cable, and internet services each year. You would also earn 2 points per $1 at gas stations and direct hotel purchase. Plus, 1 point per $1 for all remaining purchases.
Instead, You Can Get the Chase Ink Business Preferred
Chase retired the Ink Plus and its replacement is the Ink Business Preferred® Credit Card. It has a similar $95 annual fee (waived for the first year) and also earns the valuable Chase Ultimate Rewards points on each purchase. In fact, you will earn 3 points per $1 on the first $150,000 in combined spending in the following categories:
- Phone, Internet, and Cable services
- Social Media and Search Engine Advertising
If you want to earn bonus points on gas station and office supply store purchases, you will need to apply for the no annual fee Chase Ink Business Cash® Credit Card which is very similar to the former Chase Ink Plus, but with a few more restrictions. For example, Ink Cash points cannot be transferred to a travel partner, receive the 25% redemption bonus, and the bonus spending limits are only $25,000 (they were $50,000 for the Ink Preferred).
The Ink Business Preferred® Credit Card can be extremely valuable if you operate a business that sells physical products online or you travel extensively to meet with clients.
Your Ink Preferred Points Still Receive the Travel Bonus
With the revised purchase rewards of the Ink Preferred business credit card, you essentially have the business card version of the Chase Sapphire Preferred. While you cannot earn the unlimited 3x bonus on travel and business purchases, the $150,000 spending limit is very respectable.
Your points are still worth 1.25 cents each when you redeem them for award travel on the Chase travel portal. You can also transfer them on a 1:1 basis to any of the Chase travel partners. There is nothing different here between the Ink Preferred and the Ink Plus.
Because the Chase Ink Preferred business credit card lets you redeem or transfer your points for award travel, it is a worthy substitute for the Ink Plus business card if you’re looking to complete the Chase Trifecta.
Additional Benefits of the Chase Ink Business Preferred
The Chase Ink Preferred has many of the same business benefits that the Ink Plus had. You can issue additional employee cards, track spending, and redeem all rewards points for award travel, cash statement credits, and gift cards.
A new benefit to the Chase Ink Preferred is $600 in cell phone coverage when your phone is damaged or stolen. All you have to do is pay your cell phone bill with the Ink Business Preferred® Credit Card and pay the $100 deductible. If you have multiple phones on your account, you can make a claim up to three times a year.
In addition to earning the 3x bonus points on your travel purchases, you will also enjoy additional travel protection benefits like primary rental car collision damage waiver coverage and up to $5,000 reimbursement per person for non-refundable travel arrangements that have been canceled or interrupted.
Receive a Sign-Up Bonus
With the Ink Business Preferred® Credit Card, the sign-up bonus value has been increased to $1,250 when you redeem your points for award travel on Chase. The signup bonus is 100,000 Ultimate Rewards points after spending $15,000 in the first 3 months of account opening.
Of course, you can always transfer those 100,000 bonus Ultimate Rewards points to any of the Chase travel partners where they can easily be worth more than 1.25 cents each. Your best opportunities will be transferring your points to the airline travel partners where they can be worth 2 cents each (10,000 points=$200).
Is the Chase Ink Preferred Better Than the Chase Ink Plus?
The answer to that question depends on what business purchases you make. You will no longer earn bonus points when you buy gas or shop at office supply stores. But, it’s easier to earn bonus points from online business purchases. If you’re an entrepreneur, the Ink Preferred can be a better option because you probably have a sizable internet advertising budget.
On a positive note, the Ink Business Preferred® Credit Card earns more on travel than any of the other Chase credit cards that earn Ultimate Rewards points. You will no longer earn points on gas purchases, but, anytime you need to fly, rent a car, or stay at a hotel, you will earn 3 points per $1.
The 5x payout for the Ink Plus was more lucrative, but, the Ink Preferred’s earning opportunities are more flexible. The Ink Preferred may only have a maximum bonus rate of 3 points per $1, but, there are more ways to earn bonus points. You should be able to earn more points overall each year because you can spend up to $150,000 (instead of $100,000) and because you earn bonus points on all travel purchases.
And, the Ink Preferred’s sign-up bonus is also a better deal as well.
What to Know Before You Apply For the Ink Preferred
Since you can no longer apply for the Chase Ink Plus, the Ink business credit cards currently offered are:
- Ink Business Preferred® Credit Card
- Ink Business Cash® Credit Card
- Ink Business Unlimited® Credit Card
There are a few things to know before you apply for an Ink business card:
- Ink card applications are subject to the Chase 5/24 rule (applications are declined if you have been approved for at least 5 credit card in the past 24 months)
- Only Ink Preferred points are worth 1.25 cents for award travel and can be transferred to a travel partner
- The Ink Preferred does not have a foreign transaction fee
- You can redeem Ultimate Rewards points earned with your Sapphire or Freedom with the Ink Preferred
Here’s a brief refresher of the Chase 5/24 rule: If you have been approved for or been listed as an authorized user on five credit cards (personal or business) in the 24 months, you will need to wait for your oldest card application inquiry to drop off your credit report.
Applying for the Ink Preferred first can be your best option. You can earn 3x points in four different categories. You can then add the Ink Cash as a secondary business credit card. It’ll capture the additional bonus points from the other business purchase categories that will also earn Chase Ultimate Rewards points. Then, you can transfer to a travel partner if you own an Ink Preferred card as well.
Summary on Can I Still Apply for the Chase Ink Plus
The Chase Ink Plus was an excellent business credit card. Unfortunately, it’s no longer available. But, adding a new Chase Ink to your wallet is still a wise option so you can earn Ultimate Rewards points for every single business and personal purchase. The 5x Ink Plus category earning will be missed, but the Ink Business Unlimited® Credit Card overall is a better product since the sign-up bonus is larger, cell phone protection is incredible, and the 3x earning categories are more flexible.
Chase Sapphire Preferred® Card
- Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.