Ink Business Preferred® Credit Card

Major Features

 

Ink Business Preferred® Credit Card
Welcome bonusEarn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening.
Annual Fee$95
Major Features3X earning per $1 on travel and select business categories each account anniversary year (max: the first $150,000). 
Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
TransferableYes, to select airlines (for example, United) and hotel chains (such as Hyatt).
CautionSubject to 5/24 rule.
VerdictA premium business card that accrues UR points.
Partner SiteLearn more about this product
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. 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. 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. 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.

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