Chase Ink Business Preferred
What happens when a company finds themselves on the top of their game with rival companies scrambling to keep up? Well, they can grow complacent only to eventually find themselves scrambling or they can follow up one hit with another. It seems that Chase is trying to do just that with the addition of yet another premium travel card, the Chase Ink Business Preffered.
Chase Ink Business Preferred Sign-Up Bonus
Bloomberg is reporting that this new card will have a sign-up bonus of 80,000 points after $5K spend in the first three months and an annual fee of $95 which is waived the first year. The bonus is not quite as good as the 100K we see with Sapphire Reserve but is slightly better than the current Ink Plus offer.
Chase Ink Business Preferred Bonus Categories
The current Ink Plus earns 5X at office supply stores and on cellular phone, landline, internet
and cable TV services. It also earns 2X at gas stations and hotel accommodations when purchased directly with the hotel. Each of those sets of categories is capped at $50K per spending per cardmember year.
The new Chase Ink Business Preferred will be a bit different. It will ditch the 5X and 2X categories for a single 3X earning structure. It will, “earn 3 points a dollar for the first $150,000 spent on travel, telecommunications, shipping and advertising on social-media and search engines.” Everyday purchases and bonus category purchases over $150K will earn 1X.
Replacing the Ink Plus/Ink Cash
It isn’t 100% clear if this new card will exist alongside the Ink Plus and Ink Cash, but one paragraph in the article sort of makes it seem that those cards might be going away.
The new card’s $150,000 limit for triple points means higher potential rewards than JPMorgan’s existing small business cards, Ink Plus and Ink Cash, as well as competitor offerings including the AmEx Business Gold Rewards charge card.
This will be a new product meaning it should be possible to get the bonus on it even if you have received a bonus on the Ink Plus or Ink Cash recently. Time will tell I suppose, but I would suspect that 5/24 will be in full play with this card.
You can find the full details of the Chase Ink Business Preferred including how Chase is going after Amex with this product in the Bloomberg article.
If this card does indeed replace the Ink Plus it will be sad to see the 5X bonus categories go, but the Chase Ink Business Preferred is definitely a very nice business travel card which is something Chase has been lacking in their lineup. We still don’t know a lot about the card, but with a $95 annual fee, a generous sign-up bonus and 3X earnings it it sure to be popular.
What do you think of the new Ink Business Preferred?