Chase announced on its official Twitter that it will launch the Ink Business Preferred credit card later this year. Here is the Bloomberg article published for Chase. Let’s take a closer look.
Points System and Welcome Bonus
This card will also use the Ink family’s Ultimate Rewards points system, and its points should be transferable to and from other Ink cards and personal UR cards. As for the part everyone cares about most, the Ink Business Preferred card will offer a welcome bonus of 80,000 UR points after spending $5,000 in the first three months. That spending requirement is not outrageous by Ink standards. And an 80,000-point public welcome bonus is also higher than the offers on the other two Ink cards. Of course, targeted offers are a different story: Ink Plus once had a targeted welcome bonus of 100,000 UR points. Hopefully this card will break that barrier one day too, though that seems unlikely.
Earning
It is hard to compare this card’s earning structure directly with the other two Ink cards. This card will earn 3x UR points on travel, telecommunications, shipping, and online advertising purchases, up to $150,000 per year. The 3x on travel is similar to the Sapphire Reserve. The current Ink lineup, meanwhile, offers 5x points on bill payments (such as phone service) and office supply stores. There are also rumors that Chase will adjust the old Ink cards’ 5x bonus categories and reduce them to 3x.
Annual Fee
The new card has a $95 annual fee, waived the first year. That matches Ink Plus and Sapphire Preferred. Cards at this tier generally allow UR points to be transferred to airline miles and hotel points, so we do not expect this new card to be an exception. We recommend keeping at least one premium UR card if you want the ability to transfer points.
Other Notes
- It is expected to include rental car insurance, but likely only for rentals used for business purposes, not personal travel.
- Cards issued directly by Chase are generally subject to the 5/24 rule.
- This is a Visa Signature Business card, without any especially notable benefits.
Given all this, the rumor that the Ink lineup will shift to 3x categories may well be true, which would leave Ink Preferred and Ink Plus covering different sets of 3x spending categories. So if you want an Ink card with 5x points, it may make sense to apply for Ink Cash or Ink Plus sooner rather than later. For most everyday consumers, most of this card’s bonus categories can already be covered by an Ink card or the Sapphire Reserve, so there is no real need to use this new card for spending. Still, with an 80,000-point welcome bonus, it could be worth opening just for the points if you are under 5/24 or can get a Pre-approval. Are you interested in the Ink Preferred?