The Chase Ink Business Preferred® Card is currently offering one of its most valuable sign-up bonuses to date, and more people can take advantage than might realize it.
With its new bonus, the Ink Business Preferred is worth a fresh look not only for traditional small-business owners, but also independent freelancers, side hustlers, creators and more. Even if you don’t think of yourself as a “business owner,” you may be able to qualify for the card and enjoy terrific short- and long-term value.
Here’s everything you should know about the card and its current bonus, as well as who it might make sense for.
One of the card’s most valuable bonuses to date
The Ink Business Preferred card is currently offering 120,000 points after you spend $8,000 in your first three months. That’s a valuable offer for a card with a $95 annual fee. In fact, it’s enough to offset the card’s annual fee for over a decade (a minimum of 12 years if you redeem for travel or cash back).
Assuming a standard redemption value of 1 cent per point, this bonus is worth a minimum of $1,200 in travel or cash back, but it could be worth even more if you redeem your points through the Chase Travel℠ Portal or transfer to certain airline and hotel partners.
Points are worth 1.25 cents each when you redeem via Chase Travel℠, and according to our points and miles valuations they could be worth around 2 cents each with the right transfer partner. Assuming a 2-cent-per-point redemption value, this offer can be worth around $2,400 with some of Chase’s travel partners. That’s before you even consider the rewards you’d earn via card spending or the value of the card’s perks.
This welcome offer is twice as valuable as the offer available with the Chase Sapphire Preferred® Card, Chase’s comparable consumer card (which offers 60,000 points after a $4,000 spend in your first three months). It’s also much more valuable than the American Express® Business Gold Card, welcome offer (100,000 points after you spend $15,000 in the first three months, worth $2,000 in travel by our estimates), even though that card charges an annual fee of $375 .
To earn 120,000 points without this bonus, you would need to spend $40,000 in a 3X rewards category or $120,000 on general purchases. This bonus allows you to earn that for just $8,000 in spending within your first three months.
Ink Business Preferred sign-up bonus history
The Ink Business Preferred card’s new offer not only carries more value than most of the card’s previous offers, but also a lower spending requirement, giving you a higher return for your spending. This makes now a great time to apply for a new business credit card or open your first account.
The Points Guy’s Ink Business Preferred bonus history shows that this card’s bonus offer has typically fluctuated between 80,000 and 100,000 points. However, between April 2020 and June 2023 (when the card offered a 100,000-point bonus), earning the bonus required $15,000 in spending. Based on a 1.25-cent-per-point redemption value via Chase Travel℠, this bonus would be worth $1,250. That’s a return on spending of just over 8 percent.
The card’s current offer is 20,000 points higher and carries the lowest spending requirement it has had since March 2020 — nearly half its typical $15,000 spending requirement. Based on a 1-cent-per-point redemption value, the new bonus is worth $1,200 — a 15 percent return for your spending. With the right travel transfer partner, your points could be worth even more — around 2 cents per point based on our valuations, which would give you a 30 percent return on spend with this bonus.
| Approximate date | Offer details | Estimated value* | Potential return for spending |
|---|---|---|---|
| *Estimated using Chase’s minimum travel and cash back redemption value (1 cent per point) and Bankrate’s Ultimate Rewards valuation (2 cents per point), which considers redemption value via partner airlines and hotels. | |||
| July 2024 to now | 120,000 bonus points for spending $8,000 in your first three months | $1,200 to around $2,400 | 30 percent |
| June 2023 to July 2024 | 100,000 bonus points for spending $15,000 in your first three months | $1,000 to around $2,000 | 13 percent |
| April 2020 to June 2023 | 100,000 bonus points for spending $15,000 in your first three months | $1,000 to around $2,000 | 13 percent |
| January 2020 to March 2020 | 80,000 bonus points for spending $5,000 in your first three months | $800 to around $1,600 | 32 percent |
Who the Chase Ink Business Preferred is right for
Pursuing a side hustle, entrepreneurship or creative endeavor as a way to make money means you’re eligible for a business card — even if you don’t run a traditional business. For this card in particular, you’ll just want to make sure you can afford its annual fee and spend $8,000 in your first three months without straining your wallet to earn the bonus.
Freelancers on-the-go
The Ink Business Preferred may land a spot on our list of the best cards for freelancers with this updated offer.
While not every freelancer will benefit from the card’s mix of business bonus categories, some of which center more on selling goods than providing services, you should be able to squeeze plenty of value out of more popular categories like travel and internet, cable and phone services. Indeed, its generous travel rewards rate makes it a great option as a primary travel card.
Plus, if you aren’t happy with the card, you can request a product change to the Ink Business Unlimited® Card, which charges no annual fee and offers a flat cash back rate, potentially making it an even more flexible option for freelancers and the self-employed.
Side hustlers
Many side hustles are a great fit for the Ink Business Preferred card’s bonus categories, especially if you sell goods online via your own website or sites like eBay, Etsy and Amazon.
Small businesses like these often incur significant shipping, internet service, and advertising expenses, making it advantageous to take advantage of most of the card’s bonus categories.
While meeting the card’s bonus spending requirement may be challenging for small side hustles, it could serve as motivation to invest more in your business. By averaging $2,700 in spending each month for the first three months to meet the requirement, you could earn $1,200 in cash back or approximately $2,400 in travel rewards. However, it’s crucial to avoid carrying a balance since the card does not offer an introductory APR, and interest charges can diminish your rewards earnings.
Creators
Photographers, writers, painters, digital artists, content creators, musicians, and other creatives can all benefit from this card. Even if you don’t typically view your art as a business, it holds value and involves some costs. If you generate any income from selling your work, you may be eligible for a business credit card.
The Chase Ink Business Preferred card enables you to earn rewards that can reduce your expenses and facilitate the creation of more work. While it’s challenging to find business cards that offer rewards on art supplies, equipment, or other tools, the Ink Business Preferred card provides long-term value by earning rewards on practical expenses like internet services, shipping, and travel for shows.
Additionally, the card’s sign-up bonus adds to its immediate value.
Recently applied? Request a bonus match
If you’ve recently opened an Ink Business Preferred card account, you may be eligible for the card’s newer, higher bonus. Some users on Reddit in the r/CreditCards community have successfully requested a bonus match through Chase’s secure messaging portal.
My 100k bonus was matched to 120k. I was approved for the [Chase Ink Business Preferred] on 18 May with the 100k SUB. On 19 June, with about 1k left to meet the spend, I requested a bonus match by secure message in the Chase app and was told less than 24 hrs later that they would be “happy to match the offer” for me.
While some users have reported receiving a bonus match for approvals as far back as May 18, 2024, one user commented that their request related to a card application opened on May 17 was denied.
While there’s no guarantee of receiving the bonus this way, it’s worth inquiring about.
Bottom line: A great time to apply
For the right small-business owner, the Ink Business Preferred card provides an excellent opportunity to start earning rewards, surpassing many consumer cards with the same annual fee. Even if you don’t own a traditional small business, the card’s ongoing rewards can offer significant value.
With its new bonus offer, now is an ideal time to apply if you’ve been contemplating it.
The Ink Business Preferred card’s enhanced offer stands out as one of the best credit card bonuses currently available. Therefore, even if the card’s ongoing rewards categories don’t align with your typical spending habits, its short-term value makes it a solid choice for nearly any small-business owner.