The Chase Ink Business Preferred is our #1 ranked business card! There are many reasons for everybody to have this card in their wallet. A big reason is that you can combine the points you earn from this card with Sapphire personal cards for maximum value! We’ve put together responses to the most commonly asked questions regarding the eligibility for the Chase Ink Business Preferred card.
The biggest reason to be excited about this card is the 100,000 points offer for the Ink Business Preferred card. While 100,000 points bonus is the same, the $8,000 spending requirement is new (previously it was $15,000). This update changes your average estimated monthly spending over those three months from $5,000 to under $2,700 each month. This is big news because many people could not fathom spending $15,000 in three months. But, the new requirement of $8,000 is much more manageable for many people.
Special note: If you have had the card before, it is important to read through this article to make sure you qualify or understand how to qualify. Here’s the breakdown:
To qualify for the Chase Ink Business Preferred 100k bonus, you must meet the following criteria:
- Under 5/24: If your credit report shows that you opened 5 or more new cards from any card issuers in the past 24 months, then you will not be approved for a new Chase card.
- No Ink Business Preferred bonus for the same business in the last 24 months: If you received a welcome bonus for the Ink Business Preferred in the past 24 months for the exact same business, then you are not eligible for this bonus.
- Qualify for a $5,000 credit line: Chase won’t approve your application unless they see fit to allocate a $5,000 credit line or more to your new account. Note that if you are a current Chase customer with other business cards, they will usually be open to moving credit from other cards in order to make this happen if needed.
- Meet minimum spend requirements: Once you are approved for the Ink Business Preferred, you have 3 months to make purchases totaling $8,000 or more. Keep in mind that the $95 annual fee and any other card fees you incur do not count toward that total. Also, any charges that count as cash advances will not count toward the total.
100k Offer Questions and Answers
How do I apply?
Travel Freely’s link for this offer can be found on our Ink Business Preferred Card page here.
How much are 100,000 points worth?
The answer depends upon how you use the points:
- $1,000 cash: You can directly cash out your points for a penny each
- $1,250 towards travel: Points are worth 1.25 cents each when you use points to book travel through the Chase Ultimate Rewards travel portal.
- $1,500 towards travel. If you have a Chase Sapphire Reserve personal card, you can transfer your points to that account for 1.5 cents per point value in the travel portal. Points can be transferred to the loyalty accounts of the primary cardholder or any authorized user on the account. Points can also be transferred to the loyalty account of a joint business owner, but they do need to be an authorized user on the associated business account.
- $1,800 or more towards travel. Chase Ultimate Rewards points can be transferred to a number of travel partners (see details here). In many cases, if you know what you’re doing, it’s possible to get far-outsized value for your points this way. Here’s just one example: The Ventana Big Sur resort usually charges $1,500 or more per night (all meals included). Alternatively, you can pay 30,000 Hyatt points per night for the same stay. Since you can transfer Chase points to Hyatt 1 to 1, you could move 90,000 of your Chase points to Hyatt and then book 3 nights at the Ventana (worth over $4,500) with those Hyatt points. Even better, Hyatt doesn’t charge resort fees on free night award stays.
How long will this offer last?
We don’t know. If it’s a special offer, then these offers seem to last 4-6 weeks.
What if I can’t spend $8,000 in 3 months?
Consider reading this article to get ideas on ways to increase your spending on credit cards. Otherwise, the Chase Ink Business Cash and Chase Ink Business Unlimited are excellent options that have an offer of 75,000 points, no annual fee, and require $6,000 spending in the first three months right now. If that is still too high, I would recommend staying away from these cards and looking at other options like the Chase Sapphire Preferred personal card that only requires $4,000 in spending.
I applied and did not get an answer. It went pending. Is there anything I can do?
Yes! But, don’t call right away. Use our article here for specific strategies on Chase business cards. It’s normally much better to delay calling and wait when a Chase business card goes pending. This is to avoid a more thorough review of your application.
I applied and was denied. Is there anything I can do?
Yes! When denied for a Chase card, call the reconsideration line (1-888-270-2127) to ask for the decision to be reconsidered. If you currently hold other Chase business cards, tell the agent you are not looking for more credit and you are happy to move credit from another card to open this one.
I recently applied for the lower offer. Will Chase match me to the higher offer if I ask?
Chase has been known to match sign-up bonus offers in the past if they are public offers and within 90 days of a previous account opening. That said, there’s no guarantee. It also seems like people get denied if they ask within a few days of the new offer going live.
So, I would wait a few days. Then, go to your Chase online portal and send them a secure message with a screenshot of the new offer from chase.com. Mention the last 4 digits of the card so they can streamline the communication.
What are the rules on getting more than one Ink business card?
Chase Business Ink cards are all treated as separate cards. You can apply and get approved for more than one. It’s known that Chase only allows you to apply and be approved for 2 personal cards, or 1 personal card + 1 business card per 30 days. The data points for 2 business cards in 30 days are varied. To err on the side of caution, I suggest a 30-day gap between Chase business card applications.
What are the rules if I have more than one business?
If you have multiple businesses, then you are eligible to get this card and a new signup bonus for each business you own. For a clear strategy on this, please read pp.12-13 of our Travel Freely Small Business Guide here. Note, this does not guarantee approval, but it’s possible. For those with separate EINs, this strategy will work best. Anecdotally, it seems likely Chase will only approve you for one card if you are claiming multiple businesses using your SSN as the Tax ID for multiple businesses.
If I have a personal Chase card like the Chase Sapphire Preferred or Chase Sapphire Reserve, can I transfer the points I earn on my business card to my personal card?
Absolutely. You can transfer points to other Chase accounts you have or those who are household members or authorized users. Here’s a walkthrough on how to Chase merge points.
Can I earn the bonus by product changing to the Ink Business Preferred from another Chase card?
No. You must open a brand new account.
5/24 Questions
How do I know my 5/24 status?
Check your Travel Freely My Cards page. Read more here.
Does this card count toward my 5/24 status?
You must be under 5/24 to be approved. However, once you are approved, Chase business cards do NOT count toward your 5/24 count. e.g. If you are at 4/24, then you will stay at 4/24 after approval.
I am told I am over 5/24 due to being an authorized user on several accounts. Can I qualify?
Yes. Authorized user cards can cause initial denials because of 5/24. However, they do not count. You can call (1-888-270-2127) and talk to an application specialist and they will remove authorized user accounts when doing a manual review. Sometimes you’ll get customer service reps who try to tell you authorized user cards do count towards your total accounts, but the key is either to say, “No, I am not financially responsible for that account”, or to hang up and get another rep on the phone.
Current Ink Business Preferred Card Questions
I currently have the Ink Business Cash or Ink Business Unlimited card. Can I qualify for the Ink Business Preferred?
Yes. Chase treats these as individual products.
I currently have an Ink Business Preferred card. Can I cancel it and then apply again?
Yes, but don’t! Downgrade your card to a no-fee Ink Business Cash or Ink Business Unlimited. Product changing will preserve your points, your credit line, and credit history tied to the date the original card was opened. Plus, if you aren’t approved for the Ink Business Preferred, you could then product change back.
After canceling or product changing, it’s best to wait at least a week before applying for the Ink Business Preferred.
Chase card offer terms state “I understand that any new cardmember bonus offers for this product are not available to either current or previous cardmembers of this product who received a new cardmember bonus for this product in the last 24 months.” Despite those terms, it’s very common for people to successfully sign up for more than one of the same Ink card across multiple businesses.
I currently have an Ink Business Preferred card but only because I’m an authorized user. Can I sign up for the Ink Business Preferred?
Yes!
Product Change Questions
I currently have an Ink Business Preferred card. Which card should I product change to?
Both the Ink Business Unlimited and the Ink Business Cash are fee-free cards. You can product change to the Chase Ink Business Unlimited card or the Chase Ink Business Cash. If you don’t already have the Business Ink Unlimited card, that’s my suggestion. Keep in mind you’ll need to have a card with an annual fee (such as the Ink Business Preferred, Sapphire Preferred, or Sapphire Reserve) in order to transfer points from a card with no annual fee.
If I product change, what happens to the points in my account?
If you product change to any kind of Ink card, your points will be preserved in your Ink account. Once your Ink Business Preferred account is open, you can then move your Ink card’s points to your Ink Business Preferred account to make them more valuable again.
If I product change and then I’m denied for the Ink Business Preferred, can I product change back?
Yes — most likely. It’s not guaranteed that Chase will offer you that product change option, but it is very likely.
What happens to travel booked recently on my Ink Business Preferred card for the travel protections? If I product change to a different Ink card, will I keep the travel insurance protections for my trips?
Not sure. Your travel protections may be based on the card you have at the time that you file a claim.
24-Month Rule Questions
I signed up for an Ink Business Preferred card a while back. How do I know if it’s been 24 months since I earned the bonus?
If you have Travel Freely, just check and see if the card is showing up on your CardGenie! Or, look at the individual card info to see when you opened the card. I would add 28 months from the date opened if you want to be certain you are eligible for the card again. Otherwise, look at old credit card statements, or simply call Chase and ask.
How long has it been since I earned my last Ink Business Preferred bonus? I don’t remember.
If you have records of when you signed up for the card (check your Travel Freely My Cards page!), you can estimate you received the bonus about 3 months later. That should give you a good enough timeline. If you don’t know when you signed up or you need a more precise answer, call Chase or send them a secure message to ask.
It has been more than 24 months since I received a welcome bonus, but less than 24 months since I canceled my Ink Business Preferred card. Can I qualify?
Yes. The 24-month rule is specific to the date on which you last received a welcome bonus for the Ink Business Preferred card. It’s okay if you have recently had one of those cards as long as it’s been more than 24 months since you last received a welcome bonus.
I recently closed my Ink Business Preferred card in the last year, am I eligible?
See the question above. The 24-month rule has nothing to do with when you closed or product changed your previous Ink Business Preferred card. It is specific to the date on which you last received a welcome bonus for the Ink Business Preferred card.
I previously had an Ink Business Preferred card, but I never earned a welcome bonus. Can I qualify?
Yes. As long you have not received the welcome bonus within the past 24 months you can qualify.
Is it helpful if I use Travel Freely’s link?
Yes! Using our Travel Freely link for the Chase Ink Business Preferred is the best way to support our site and app. Feel free to tell all your friends about this great offer too!
