Which Chase Ink Card is Best for Me?

Which Chase Ink Card is Best for Me?
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Over the past few years, Chase has unveiled quite a few great products for small business owners, including the Ink Business Preferred and Ink Business Cash cards. While these cards have many similarities, they also have their differences, and it can be hard to know which one is the best for your business.

If you're having trouble choosing between Chase Ink Business cards, we're here to help! Here's what you need to know before applying for one of these cards.

Chase Ink Business Preferred vs. Chase Ink Business Cash Cards

The Chase Ink Business Preferred and Chase Ink Business Cash cards are both fundamentally good cards, but depending on your business needs, one may be better suited for you. For example, if you run a business that requires a lot of travel, the Chase Ink Business card is probably going to be your best bet. If you're running a business where cash on hand is important, the Ink Cash card and its cash-back benefits may be a better fit. Let's look into the major benefits of the each card, one by one.

Author's note: Keep in mind, sole proprietorships do qualify for these cards – based on credit approval. I personally run a small-time eBay business, and I've used my social security number in lieu of a business tax ID to get approved for small business cards in the past.

Which card has the best sign-up bonus?

The Chase Ink Business Preferred Card currently has a sign-up bonus of 80,000 Ultimate Rewards points when you spend $5,000 in the first three months, which is worth about $1760, based on my 2.2 cent valuation. That's a 35 percent return on spending, not counting any spending bonuses! Additionally, the value of these points can skyrocket if you use them to transfer to one of Ultimate Rewards' travel partners, like Hyatt or British Airways. I used some of my Ultimate Rewards points towards a vacation valued at $20,000 to Australia, so I know that you can get big value out of these rewards.

The Chase Ink Business Cash card currently has a $300 bonus when you spend $3,000 in the first three months of account opening. That's 10 percent back on every dollar you spend, up to the first $3,000, not counting any spending bonuses. Keep in mind, if you already have a personal Chase card that earns Ultimate Rewards, like the Chase Sapphire Reserve or Chase Sapphire Preferred card, you can transfer your cash back into Ultimate Rewards at a one cent to one point ratio, thereby making your bonus worth 30,000 Ultimate Rewards points, which I value at $660!

Winner: Chase Ink Business Preferred. Although I will say if your business can't hit $5,000 in spending in the first three months, the Chase Ink Cash card is a better offer.

Which card has a better everyday spending bonus?

Each card offers some great bonuses on every day spending. The Chase Ink Business Preferred card offers three percent cash back on the first $150,000 spent in combined spending in these categories:

  • Travel (Hotels, Airfare, Taxis, Ubers, Etc.)
  • Shipping Expenses (FedEx, UPS, USPS)
  • Online Advertising (Facebook, Google)
  • Internet/Cable/Phone Services

The Chase Ink Business Cash card earns five percent cash back on the first $25,000 in combined spending in these categories:

  • Office Supply Stores
  • Internet/Cable/Phone Services

Plus, you'll earn two percent cash back on the first $25,000 in combined spending each year in these categories:

  • Gas Stations
  • Restaurants

Winner: This one is pretty subjective, and depends entirely on your personal business needs. For businesses with lots of travel requirements, the Chase Ink Business Preferred card is the best for you. For businesses that require a lot of spend on office supplies, cable, phone lines or internet packages, the Ink Business Cash card may be a better fit.

Which card offers better additional benefits?

Both credit cards offer no cost for additional employee credit cards, purchase protection against theft or damage on new purchases for up to 120 days and up to $10,000 per claim and $50,000 per account, and extended warranty protections.

One interesting benefit that sets the Ink Business Preferred card apart is their cell phone protection plan:

Get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Chase Ink Business Preferred credit card. Maximum of 3 claims in a 12 month period with a $100 deductible per claim.

That could mean big savings for your company if you have company phones that you give to employees, and the Ink Business Preferred card also offers trip cancellation and interruption insurance:

If your trip is cancelled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $5,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.

Winner: Ink Business Preferred card. The cell phone and trip cancellation insurance put it out in front of the crowd, and make this a card worth using for your business needs.

Which card has a lower annual fee?

The Ink Business Cash card is the clear winner here, as there's no annual fee. The Ink Business Preferred card has a $95 annual fee. Depending on your business, the Cash card may be a better money-saver than the Ink Business card.

Overall winner: Ink Business Preferred card

While both cards are likely worthy of a spot in your wallet, I give the edge to the Ink Business Preferred card. While the Ink Business Cash card's cash back benefits and no annual fee make it a strong contender, the Ink Business Preferred's travel benefits – both in earning bonus Ultimate Rewards points and extra trip protections – make it a better overall deal, depending on your business needs.