Apply For Chase Business Credit Card - As a multinational investment bank and financial services provider, Chase has been a major player in the lending game for centuries. In 2000, the bank merged with JP Morgan and evolved into what it is today.
Although I usually favor smaller community banks and credit unions because of their flexible business loan and credit card requirements, today I want to share everything I know about the Chase Ink Business Preferred Card - it's definitely worth learning more about.
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The Chase Ink Business Preferred is one of three Ink Business Visa credit cards offered by Chase, each with its own set of rewards.
Chase Ink Cash Complete Guide
Chase also offers Southwest Travel Rewards and United Travel Rewards. For now, I want to share a quick side-by-side comparison of the three ink cards before diving into the Business Preferred card.
1.25 cents in travel rewards. For businesses with higher expenses due to higher reward limits, the Preferred is the Chase Ink card to aim for.
When you qualify for the Chase Ink Preferred card, you can upgrade to an existing Unlimited or Cash card. Your Unlimited or Cash card must be open and in good standing for at least one year and you will need to pay the $95 annual fee.
In addition, when you make a product change, you will not be eligible for the sign-up bonus for new Preferred cardholders.
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To upgrade, simply call Chase using the phone number on the back of your card and request an account review, or contact the company through the secure messaging platform on your account dashboard.
Now, let's take a closer look at the pros and cons of the Chase Ink Business Preferred card. Let's start with credit reporting, as it is the lifeblood of what we do here at the Business Credit Workshop. Next, we'll explore more about the benefits of using the Chase Ink Preferred card and when it might be better to try other channels for business cash flow.
Dunn & Bradstreet (D&B) is the monarch of business credit reporting agencies. Although rumors are circulating in online credit forums that Chase does not report to D&B, this is simply not true.
- Contacted the major banks at the end of last year to see which of them reported payment activity to business credit agencies. They discovered that Chase and City were
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Major banks in the United States reporting business finance payment activity to all four major agencies (D&B, Equifax, Experian,
Some of the benefits of using the Chase Ink Preferred card are summarized above. Now, let's explore them further.
If you pay your business phone bill with a Preferred card, you're eligible for a damage and theft claim of up to $600 for you
Your employees This is a prominent feature not offered by competing credit cards. You will be eligible for up to three of these claims per year, which will have a $100 deductible.
Chase Ink Business Preferred Credit Card Review
Once your account is verified, you can get free employee cards. For each card, set spending limits to control your budget. All rewards will be accumulated in the main account. This means that employee spending on the company's Chase Ink Preferred card will count toward their bonuses and points.
When you rent a car and pay with your Business Preferred card, you don't need to purchase insurance because Chase automatically covers you with damage protection up to the actual cash value of the vehicle. This can save you a lot on business travel, especially when multiple employees rent tickets when traveling for business.
For prepaid, non-refundable travel, tour and hotel rates, you won't have to worry about losing your money if you have to cancel or postpone a trip. When you pay for travel expenses with your Preferred card, they're insured up to $5,000 per person and $10,000 per trip. Illness, bad weather and other covered reasons are covered when you need to take advantage of this benefit.
If you purchase a product with your Preferred card and it is stolen or damaged within the first four months after purchase, Chase will reimburse you up to $10,000 per claim and $50,000 per account. This means you don't need to insure every item you buy; Instead, save your receipts (or simply track transactions in your online account dashboard).
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Additionally, any item you purchase with your Preferred card with a warranty of three years or less will receive an additional year's warranty. For example, if you purchased a computer with a two-year warranty using your card, Chase will extend the warranty to three years.
As long as your account is open, you can redeem reward points at any time. This means you can save points for years before spending them. In addition, you can transfer your points in personal exchange with major frequent flyer programs.
100,000 Chase points are worth about $1,000 and 80,000 Chase points are worth about $800 when used in the Chase Ultimate Rewards program dashboard. Be sure to find out if the value of your points will change when you transfer, as the value of points/miles may vary between programs.
Log into your Chase Ultimate Rewards dashboard or check with your frequent flyer program to make sure your points are transferrable—not all travel programs work with Chase.
Chase Ink Business Preferred Credit Card: A Deep Dive Analysis
As with most business credit cards from major banks, the Chase Ink Preferred card comes with notable fees. Your APR on spending will vary between 15.99% and 20.99%. We look at credit union and community bank cards, as well as modern alternative financing sources, that have interest rates below 10%, but typically don't offer the same level of rewards as the preferred card.
And you'll pay a $95 annual fee to maintain your account. This means that if you don't intend to redeem your rewards, even if you pay the bill in full each month to minimize interest payments, you could be out at the end of the year. However, an annual fee is typical for rewards cards at this level. Amex, for example, charges much higher annual fees than Chase.
Before you apply, you must meet Chase's requirements for this card. In addition to a FICO score of 688+ (some recommend 700 to 740 or higher), there are several minimums you must meet.
Even if your credit is excellent and you meet all of the above requirements, there is no guarantee that you will be approved. But if you can present these characteristics, your business is likely to appear less risky to underwriters. And you can increase your chances if you have a properly managed Chase business account .If you still want to continue, you can visit this page and log in to register or register as a guest. If you received an invitation to register, please visit getchaseink.com.
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The Chase Ink Business Preferred credit card, of course, has some competition in the market. Amex Platinum and Capital One Spark are often considered by medium to high yield small businesses looking for this type of expense reimbursement. And one of the alternatives may be more suitable for your situation.
So let's look at a summary of the Chase Ink Preferred, Amex Platinum and Capital One Spark side by side to see the differences.
Other than what's listed above, none of these cards charge foreign transaction fees. They offer various insurance refunds and trip cancellation and delay. And yes, everyone has
The Amex Platinum card certainly brings more benefits, but there's a trade-off with the $550 annual fee, more than five times its competition. If you only use Fie Hotels & Resorts™, this cost will be covered.
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The Chase Ink Business Preferred card is considered one of the best credit cards for small businesses, probably because of the huge sign-up bonus. While you won't get 0% APR and pay an annual fee, there's still a lot of savings and rewards potential here. If you think your company can meet the qualifications, go ahead and apply.
And if you still need to learn how to build business credit and want to learn how to get $100,000 in business credit, sign up for the business credit workshop today. It is part of an affiliate sales network and is compensated for sending traffic to affiliate sites, such as CreditCards.com. This compensation may affect how and where links appear on this site. This site does not include all financial companies or all financial offers available. Terms apply to American Express benefits and promotions. Registration may be required for select American Express benefits and offers. Visit americanexpress.com for more information.
If you own a business, you likely have business-related expenses every day. Whether it is the purchase of equipment, advertising costs, gas and travel, the earning potential in points increases. Choosing the right credit card for your business can have a huge impact on your points and miles journey.
The Ink Business Preferred® credit card is an attractive card for any business owner. In addition to earning 3X points up to
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