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Chase Ultimate Rewards are potentially the most valuable credit card points for cash and travel rewards. They earn rewards for common purchases and have some significant signup bonuses. Two options you may be familiar with are the Chase Sapphire Preferred® and Ink Business Preferred® Credit Card. Is it possible to have both the Chase Sapphire Preferred and Ink Business Preferred cards to maximize your personal and business spending?

60,000 Ultimate Rewards Bonus: Chase Sapphire Preferred®

100,000 Ultimate Rewards Bonus: Ink Business Preferred® Credit Card

Keuka Lake's beautiful wine country, chase sapphire preferred ink business preferred
Both the Chase Sapphire Preferred and Ink Business Preferred are great for traveling. You may visit places like Keuka Lake’s beautiful wine country.

Chase Credit Card Application Rules

It’s possible to have both the Chase Sapphire Preferred and the Chase Ink Business Preferred in your wallet at the same time. But, you will need to observe some of the Chase application guidelines. If you know about these ahead of time, you can plan accordingly.

5/24 Rule

For instance, these two cards fall under the Chase 5/24 rule. This unwritten policy only lets you qualify for new Chase credit cards when you have opened 5 or more new credit cards in the last 24 months. Being an authorized user also counts toward this limit.

2/30 Rule

Also, you shouldn’t apply for more than two Chase credit cards within 30 days. If you don’t have either card, you may decide to get one and earn the signup bonus before applying for the second card. This practice ensures you earn the signup bonus but also spaces your applications by several months.

Minimum Credit Score

You should also have a minimum credit score of 700 before applying for either card as each card requires good or excellent credit.

For the Chase Ink Business Preferred, you also need to earn a business income of some kind. It’s possible for sole proprietors and incorporated businesses to qualify. Recent data points from across the internet and feedback from Johnny Jet readers indicate that having an incorporated business (i.e., LLC) that’s at least several years old has the best approval odds.

Having a Chase business checking account or a Chase personal checking account may also increase your approval odds. Chase looks at many credit factors including your credit report, annual income, and monthly expenses. Having an active Chase Bank account may also help you earn loyalty perks if your application requires additional review.

Signup Bonus Requirements

You may also wait to apply once you know you qualify for the signup bonus.

First, the Chase Sapphire Preferred has a stricter signup bonus requirement. If you currently own the Chase Sapphire Reserve®, you cannot have a Sapphire Preferred as well. You must either request a downgrade to the Sapphire Preferred or cancel your Sapphire Reserve and apply for a Sapphire Preferred.

If you’re a returning Sapphire cardholder, you must wait at least 48 months from receiving your last Sapphire signup bonus to qualify for a new Sapphire Preferred card and signup bonus.

The Ink Business Preferred has a more flexible signup bonus policy. It appears that you can have one of the other two Ink Business credit cards at the same time and qualify for the Ink Business Preferred bonus.

Related: Best Chase Credit Cards

Chase Sapphire Preferred and Ink Business Preferred: Which Credit Card To Apply For First?

If you aren’t a Chase Sapphire Preferred or Ink Business Preferred cardholder, which should you apply for first? Here is a quick rundown of each card to help you decide as it can be several months before you can get the other card.

Once you get both cards, you can pool your Chase Ultimate Rewards to redeem your points for pricier rewards more often.

Chase Sapphire Preferred

The Chase Sapphire Preferred can be the better option if you want to maximize your personal spending. It can also be easier to qualify for if you have a newer business or cannot meet the Ink Business Preferred’s $15,000 signup bonus spending requirement at the moment.

You have the best approval odds for the Sapphire Preferred with a minimum credit score of 700. Having a 740 score puts you in the excellent credit category which means you might have more leeway with your income and expenses.

The annual fee is $95 and there isn’t a foreign transaction fee. Here are some of the main reasons to apply for the Chase Sapphire Preferred.

Related: Chase Sapphire Preferred Credit Score: What You Need To Know

Signup Bonus

There’s currently a signup bonus of 60,000 bonus Chase Ultimate Rewards by spending $4,000 in the first 3 months. This Chase Sapphire Preferred® bonus is worth up to $750 in award travel.

Purchase Rewards

Your travel and restaurant purchases earn two points per $1. All non-bonus spending earns 1 point per $1.

Through March 2022, Lyft rides earn 5x Ultimate Rewards. You also get complimentary DoorDash DashPass for one year of $0 delivery fees on $12+ orders.

Redeeming Points

Your points are worth 1.25 cents each when booking award travel through Chase. Cash and gift card rewards make each point worth 1 cent each. You can also transfer your points at a 1:1 ratio to airlines and hotels like Southwest, United, and World of Hyatt.

Additional Benefits

This card also provides a variety of rental car insurance and travel insurance benefits. These benefits can offset your incidental fees due to travel mishaps.

Ink Business Preferred Credit Card

The Chase Ink Business Preferred Card is one of the best small business credit cards you can earn. It has a massive signup bonus and offers plenty of ways to earn Ultimate Rewards along with valuable redemption options.

You might apply for this card first if you want to maximize your business spending and can achieve the signup bonus spending requirements of spending $15,000 in the first 3 months.

The annual fee is $95 and there isn’t a foreign transaction fee.

Related: How Hard Is It To Get the Chase Ink Business Preferred?

Signup Bonus

The Chase Ink Business Preferred® Credit Card offers a signup bonus of 100,000 Ultimate Rewards worth $1,250 in award travel. This bonus is yours after spending $15,000 in the first 3 months.

Purchase Rewards

You can earn up to 3 Ultimate Rewards per $1 (on the first $150,000 in combined annual spending):

  • Travel
  • Shipping purchases
  • Internet, cable, and phone services
  • Social media and search engine advertising purchases

All non-bonus spending earns 1 point per $1 with the Ink Business Preferred® Credit Card.

Redeeming Points

Each Ultimate Reward point is worth the same with the Ink Business Preferred as the Sapphire Preferred.

You get the 25% travel redemption bonus when booking award travel through the Chase Ultimate Rewards portal. The 1:1 airline and hotel transfer partners are the same too.

Your points are worth 1 cent each for cash and gift card redemptions.

Additional Benefits

You won’t get free DoorDash Dash or 5x Lyft purchase rewards, but you get business-centric benefits. One of the best benefits is getting up to $600 in cell phone protection.

You also get primary rental car damage protection for business-related car rentals.  Travel insurance and purchase protection benefits are complimentary too.

Can You Get the Chase Sapphire Preferred and Ink Business Preferred?

It’s possible to have the Chase Sapphire Preferred® and Ink Business Preferred® Credit Card in your wallet simultaneously. But you can only apply for one at a time. Choosing whether you want to maximize your personal or business spending first makes the decision easier.

60,000 Ultimate Rewards Bonus: Chase Sapphire Preferred®

100,000 Ultimate Rewards Bonus: Ink Business Preferred® Credit Card


How do I get the Chase Ink Business Preferred?

You can apply online for the Chase Ink Business Preferred® Credit Card if you’re a sole proprietor or own an incorporated business. Preferably, your business will be open for several years and is profitable to have the best approval odds. It’s also wise to have a minimum credit score of 700 and ideally one above 740 to have “excellent credit.”

You should also make sure you’re below the “5/24 rule” and only apply if you have 4 or fewer credit cards less than two years old.

While having an existing Chase Bank relationship isn’t necessary, having a Chase business checking account is one way to be a loyal Chase member. Qualifying for a Chase Ink business credit card can be somewhat difficult but being an active bank member may improve your approval odds.

Is the Chase Sapphire Preferred prestigious?

While the Chase Sapphire Preferred isn’t one of the most exclusive credit cards, it’s one of the best credit cards. It earns some of the most valuable credit card points and you get a 25% redemption bonus when booking award travel or you can transfer them at a 1:1 ratio to airlines and hotels. The Chase Sapphire Preferred® has a $95 annual fee and zero foreign transaction fees, which means you can spend more money on travel and less money paying credit card fees.

Can I apply for a Chase Ink without a business?

You need self-employment or small business ownership income of some kind to qualify for a Chase Ink business credit card. For example, you might qualify if you own a rental property, are an online freelancer, or have multiple employees.

Your approval odds can be higher if you have an incorporated business, such as an LLC, with an Employer Identification Number (EIN). Sole proprietors can apply as well and you can apply with your Social Security number if you don’t have an EIN. You can also apply for an EIN for free on the IRS website.

In general, you should apply for a Chase Ink after your business has several years of profit history. Qualifying for a business credit card can be more difficult than a consumer card. Established businesses are less likely to default on their account and can have an easier time qualifying as a result.

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Josh Patoka

Chase Sapphire Preferred® Card

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases.
  • 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 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.
  • Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.

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