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Ink Business Preferred® Credit Card is a premium-level business credit card from Chase, which allows you to accrue highly valuable Chase's Ultimate Rewards® Points for all your eligible spendings.
In this posting, I will describe major features of this business credit card, and then will explain various ways you can redeem your hard earned Ultimate Rewards points.
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1. Major Features
Ink Business Preferred® Credit Card has the following major features.
1) Welcome Bonus
After spending $15,000 on purchases in the first 3 months from account opening, you will earn 100,000 Ultimate Rewards points.
If redeemed for statement credits, 100,000 Ultimate Rewards points are valued at $1,000. But as explained below, you can use 100,000 Ultimate Rewards at a much higher value.
2) 3X earning on travel and select business categories (the spend cap of $150,000 per account year)
With Ink Business Preferred® card, you can earn 2 extra points (total 3 points per dollar spent) for your spending on travel and select business categories (There is a combined annual limit of $150,000 per account anniversary). Select business categories include shipping purchases, Internet, cable and phone services, and Advertising purchases with social media sites and search engines.
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2. How best use Chase Ultimate Rewards® points?
With Ink Business Preferred® Credit Card, you earn Ultimate Rewards® points, a highly versatile proprietary rewards program of Chase, for your business expenses.
Ultimate Rewards® points have many uses.
To name a few,
1) First, you can use them as if they are cash-equivalents.
For instance, you can get statement credit of $100 by redeeming 10,000 points. In this case, the point value is 1 point = 1 cent.
2) Ultimate Rewards travel portal
If you want extract some more value from your hard earned Ultimate Rewards points, you can redeem them at Ultimate Rewards travel portal for airline tickets, hotel stays or car rentals. In these cases, your redemption value is 1 point = 1.25 cent, reflecting 25% bonus.
3) Transfer to partner airlines
Potentially, the best redemption value can be achieved when you transfer Ultimate Rewards points to partner airlines and then book premium class award tickets.
As of this writing (July 2022), you can transfer Ultimate Rewards points into airline miles for a total of 11 airlines: United, Air Canada, Air Lingus, British Airways, Iberia, Flying Blue (Air France), Emirates, JetBlue, Singapore, Southwest and Virgin Atlantic.
Among these airlines, Virgin Atlantic, United, Southwest, and British Airways are relatively easier to use.
For example, Virgin Atlantic has an incredible award opportunity with All Nippon Airways. Likewise, Air Canada's Aeroplan is a great option for those traveling with children under 2 years of age.
4) Transfer to Hyatt points
Those of you who find airline redemption to be difficult may want to convert Ultimate Rewards points into Hyatt points.
While Ultimate Rewards points can also be transferred to Marriott Bonvoy and IHG at 1:1 ratio, only Hyatt points make financial sense.
For example, a night at Park Hyatt in Manhattan, New York, requires close to $700-$1,000 per night. But if you convert Ultimate Rewards points into Hyatt points, you can do it only with 40,000 points. In this case, your Ultimate Rewards points are valued as high as 2.5 cent per point.
