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Today let’s compare two of the most valuable business credit cards – the Chase Ink Business Preferred and the Chase Ink Business Cash card.
Ink Business Preferred® Credit Card
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- Best Ever Offer: 100,000 Chase Ultimate Rewards welcome bonus points after $8,000 of spend in the first 3 months
- 100,000 UR points = $1,250 worth of travel when redeemed through Chase Travel(SM). Can be worth $1500 in travel if transferred to Chase Sapphire Reserve
- Get more out of your points. Points are worth 25% more when you redeem for travel through Chase Travel(SM)
- Earn 3X points on travel, shipping purchases, Internet, cable and phone services, and online advertising purchases up to $150,000 per year
- Zero Liability ensure that you won't be held responsible for unauthorized charges made with your card or account information.
- Worry less with Purchase Protection that covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account
- NO Foreign Transaction fees
- $95 annual fee
Ink Business Cash® Credit Card
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- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- 5% cash back on the first $25,000 spent at office supply stores, internet, cable, phone services
- 2% cash back on on the first $25,000 spent at restaurants and gas stations
- 1% cash back on everything else
- Member FDIC
- No annual fee
Business credit cards offer some of the best welcome bonuses out there after meeting the required minimum spend. Both cards, the Ink Cash and Ink Preferred, are part of the Chase Ultimate Rewards ecosystem and earn Ultimate Rewards for the welcome offer and for ongoing spending.
The Ink Business Preferred and Ink Business Cash cards have many similarities. If you’re wondering if the Chase Ink Preferred metal or the Chase Ink Cash are metal, the answer is no for both. They are both plastic.
The two cards also have many important differences – in this article we’ll compare the Ink Preferred and Ink Cash to help you find out which Chase business card is best for you.
In this post:
The difference between a business credit card and a personal card
Before we compare the Ink Preferred vs Ink Cash cards, it’s best to talk about what the difference is between a business card and a personal card.
With personal credit cards there are no special requirements. However, if you’re wondering can I get Chase Ink card without a business, the answer is that business credit cards do require you to have a valid business.
But as we talked about when we reviewed the best business credit cards for veterans and military, you may have a business even if you don’t think that you have one.
If you are wondering how do you qualify for Chase Ink business preferred, then if you do any kind of side hustle (think giving flight lessons, selling things on eBay, driving for Uber, etc), then you have a business and qualify for the Chase Ink card.
I explained in my article on “Can you get a business credit card without a business?” that you don't need an LLC, EIN, or incorporated business to open a business credit card. A Social Security Number and a sole proprietorship is enough.
What is the Chase Ink card?
One question that many people ask is “What is the Chase Ink card?” There are currently 3 different kinds of Chase Ink cards available:
There also used to be the Chase Ink Business Plus and the Chase Ink Business Bold cards, which some people still have. Unfortunately, the Plus and Bold versions of the Chase Ink cards are no longer available for new applicants. In this article, we will be comparing the Chase Ink Business Cash vs Chase Ink Business Preferred cards.
Chase Ink Business Preferred Review
First off, let’s talk about the Chase Ink Business Preferred for military servicemembers. The Chase Ink Business Preferred card currently has a welcome offer of 100,000 Ultimate Rewards after you spend $8,000 in the first 3 months.
The Ink Business Preferred also offers the following benefits:
- 3x points on spending on travel, shipping purchases, Internet, cable and phone services
- 3x points on any online advertising purchases
- It also offers up to $600 coverage against theft or damage when you pay your cell phone bill with your Chase Ink Business Preferred. There is a $100 deductible on this benefit but it is still significantly better than the phone protection plans offered by the major cell phone carriers.
- No foreign transaction fees when making purchases overseas.
The Chase Ink Business Preferred does come with a $95 annual fee that is not waived the first year. Although Chase does waive their annual fees for military servicemembers on their personal cards, they do still charge annual fees on their Chase business cards such as the Chase Ink Business Preferred for veterans.
Chase Ink Business Cash review
Now let’s talk about the Chase Ink Business Cash for military veteran small business owners, as an alternative to the Chase Ink Business Preferred card.
Currently the Chase Ink Business cash card is offering a welcome offer of 75,000 Ultimate Rewards after spending $6,000 in 3 months. Chase typically markets the welcome offer on the Chase Ink Business Cash as $750, but it is delivered as 75,000 Ultimate Rewards.
If you only have the Chase Ink Business Cash card then your Ultimate Rewards can only be redeemed for 1 cent per point, but if you have a premium Chase card such as the Chase Ink Business Preferred, Chase Sapphire Preferred or Chase Sapphire Reserve cards, you can combine your Ultimate Rewards and potentially redeem them for 1.25 or 1.5 cents per point, or even transfer them to Chase’s airline or hotel partners to get even more value.
You can learn more about Chase Sapphire Preferred military benefits, Chase Sapphire Reserve military benefits, and compare the Chase Sapphire Reserve vs the Chase Sapphire Preferred military benefits here.
Here are some of the benefits of the Chase Ink Business Cash card for veterans:
- 5% Cash back at office supply stores and on internet, cable and phone services. This is up to the first $25,000 spent.
- 2% Cash back at gas stations and restaurants, again, up to the first $25,000 spent in these categories
And unlike the Chase Ink Business Preferred card, the Chase Ink Cash card comes with NO annual fee.
Which Chase Ink card is best for veterans?
If you’re wondering which Chase Ink card is best for military servicemembers or veterans, there are many different factors to consider. One thing to consider is your specific spending habits. Take a look at the different bonus categories for the Chase Ink Business Preferred vs Chase Ink Cash card.
Another thing to think about is the welcome offer on the Chase Ink Business Cash card vs Chase Ink Business Preferred cards. The welcome offer on the Chase Ink Business Preferred card (100,000 Ultimate Rewards) is higher than the $7500 (750,000 Ultimate Rewards) offered by the Chase Ink Business Cash card, and in my view is well worth the $95 annual fee.
Can you downgrade the Chase Ink Business Preferred?
If you do end up applying for the Chase Ink Business Preferred card for the 100,000 Ultimate Rewards welcome offer, then you will pay the $95 annual fee when you apply for the card. When your cardmember anniversary comes around in another 12 months, you might wonder if you can downgrade the Chase Ink Business Preferred?
You absolutely can downgrade your Chase Ink Business Preferred card to a no annual fee Chase Ink Business Cash card after a year and get the best of both worlds.
The same thing applies in reverse. If you have applied for the Chase Ink Cash card and are wondering how do I increase my Chase Ink Cash card, you can upgrade it to the Chase Ink Business Preferred card if you prefer those bonus categories.
If you find yourself in that situation though, my recommendation would be to first apply for a new Chase Ink Business Preferred card and only then close your Chase Ink Cash card, if you are are no longer getting value from it.
If you simply upgrade your Chase Ink Cash card to a Chase Ink Preferred card, you will miss out on the welcome offer for the Ink Preferred which is currently 100,000 Ultimate Rewards – worth at least $1,250 towards travel.
I hope that this comparison of the Chase Ink Business Preferred vs Chase Ink Business Cash cards has helped you figure out which card might be best for you.
Let us know in the comments which card you applied for and if you have any questions about your eligibility for business credit cards.