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The Ink Business Preferred℠ Credit Card offers 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. When it comes to using the card, you'll earn 3x points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point on all other purchases—with no limit to the amount you can earn.
The introduction of another top-tier travel card to Chase’s stable of Ultimate Rewards earning credit cards has seen the phasing out of new applications on the Ink Plus® Business Credit Card. Although cardholders of the Ink Business Cash℠ Credit Card will still have the ability to earn 5X points on office supplies up to $25K per year.
Opening up on the reasoning behind the changes, President of branded cards for JPMorgan Chase, Pam Codispoti, mentioned in an interview with Bloomberg news.
“The credit-card space is incredibly competitive, and we want to be aggressive in investing in the best products,” Codispoti said in a telephone interview. “Customers tell us the way they’re marketing their products and services is changing — they’re spending more on things like Facebook paid search. To have the opportunity to earn triple points on that is important to them.”
Introducing the Ink Business Preferred℠ Credit Card
|Ink Business Preferred℠ Credit Card
The addition of shipping and social/search engine advertising will make this the new go-to credit card for any small business owner operating an eCommerce store or running an eBay, Etsy, or Amazon-based business. And the increased spending limit on bonus categories, when maxed out, will up the earning potential of the card significantly when compared to the Ink Plus.
The value of points earned using the Ink Business Preferred℠ Credit Card when redeemed through the Chase Travel Portal provides an effective value of 1.25¢ per point. Ultimate Rewards can have different redemption values in the Chase Travel Portal dependant on which card earns them, for example, points earned using the Chase Sapphire Preferred® Card can be redeemed for 1.25¢/point while points earned using the Sapphire Reserve are worth 1.5¢ per point.
The End of the Ink Plus® Business Credit Card
Since rumors of a new Chase business card entered the blogosphere a couple of weeks back, there has been plenty of speculation about the future of Chase’s current lineup of Ink Cards. But Shawn Coomer from Miles to Memories confirmed in a phone call with Chase that when the Ink Preferred card officially launches, the Ink Plus would no longer be open to new applications. Well, the Ink Preferred has launched and we no longer see the Ink Plus available.
The Ink Cash will remain as part of the Chase branded line of rewards cards, and keep the 5X bonus category on office supply spending on up to $25K.
With the runaway success of the Sapphire Reserve over the past two months, Chase could be forgiven for resting on its laurels and watching its slice of market share increase. Instead, it’s looking to cement its position as the king of the premium travel card scene with another stellar offering.
Much like the effect of the Sapphire Reserve on The Platinum Card® from American Express, the Ink Preferred looks to have the jump on Amex in the small business rewards market. The new card will compete on a direct footing with American Express® Business Gold Card, and Amex will have some catching up to do to make sure they remain competitive.
For points and miles fans, this is another solid offering from Chase that makes Ultimate Rewards that little bit more valuable, and we hope, incentivizes Amex to get creative with the rewards offerings on its small business stable of credit cards.
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