The business credit card market is crowded with many great options. Deciding which is best for your business’ needs can be difficult.
Chase has four small-business cards in the Ink family. The Ink Business Preferred® Credit Card is a TPG favorite with a $95 annual fee, various perks and the ability to earn ultra-valuable Chase Ultimate Rewards points that can be transferred to travel partners.
The Ink Business Unlimited® Credit Card is a no-annual-fee, cash-back card with an unlimited flat 1.5% earnings rate.
Let’s look at both cards and dig deeper into which fits your business better.
Ink Business Preferred vs. Ink Business Unlimited comparison
| Ink Business Preferred | Ink Business Unlimited | |
|---|---|---|
| Annual fee | $95 | $0 |
| Welcome offer | Earn 120,000 bonus points after spending $8,000 on purchases in the first three months from account opening. | Earn $750 in cash back after spending $6,000 on purchases in the first three months from account opening. |
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| Redemption |
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| Card benefits |
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Ink Business Preferred vs. Ink Business Unlimited welcome offer
With the Ink Business Preferred, new applicants will earn 120,000 points after spending $8,000 on purchases in the first three months after account opening.
Based on TPG’s August 2024 valuations, this welcome offer is worth $2,460.
The Ink Business Unlimited offers new applicants $750 back after they spend $6,000 on purchases in the first three months after opening an account. If you hold a card that earns Ultimate Rewards points, you can use your cash-back rewards as points and transfer them to one of Chase’s transfer partners.
It is important to note that both of these cards are subject to Chase’s 5/24 rule.
Winner: The Ink Business Preferred. Its welcome offer value is almost three times that of the Ink Business Unlimited, and its rewards can be transferred without needing another card.
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Related: The power of the Chase Trifecta: Sapphire Reserve, Ink Preferred and Freedom Unlimited
Ink Business Preferred vs. Ink Business Unlimited benefits
Both cards share similar benefits regarding travel and purchase protections.
- Primary car rental coverage: If you use either card for the entire rental cost and travel for business purposes, you’re covered for theft and damage in the U.S. and most countries worldwide. Remember that this doesn’t offer liability coverage, but you are covered up to the actual cash value of the vehicle you’re renting.
- Purchase protection: This policy covers new purchases for up to 120 days against damage or theft, up to $10,000 per claim and $50,000 per account.
- Extended warranty: This extends a U.S. manufacturer’s warranty period by an additional year on eligible warranties of three years or less.
- Employee cards: Get additional cards for your employees at no cost.
The Ink Business Preferred has a few more notable benefits not included with the Ink Business Unlimited. These include:
- Cellphone protection: If you pay your monthly cellphone bill with your card and your cellphone is stolen or damaged, you can receive up to $1,000 per claim, with a $100 deductible — for up to three claims per year.
- Trip cancellation/interruption insurance: If you must cancel or cut a trip short because of a covered issue (such as illness or severe weather), you’re eligible for up to $5,000 of coverage per person for prepaid, nonrefundable travel expenses, which provides great peace of mind when unexpected problems arise. Coverage is limited to $10,000 per trip.
It’s also important to note that the Ink Business Unlimited has a 3% foreign transaction fee while the Ink Business Preferred has no foreign transaction fee, so if you travel internationally frequently, this is something to be mindful of.
Winner: The Ink Business Preferred. This card edges out the Ink Business Unlimited by including cellphone protection and trip cancellation/interruption insurance and lacking a foreign transaction fee.
Related: How to meet minimum spending on the Ink Business Preferred: $8,000 in 3 months
Earning rewards on the Ink Business Preferred vs. the Ink Business Unlimited
The Ink Business Preferred offers more bonus categories than the Ink Business Unlimited. As a cardholder, you’ll earn 5 points per dollar spent on Lyft rides through March 2025. You’ll also earn 3 points per dollar on up to $150,000 in combined purchases per account year on:
- Travel
- Shipping purchases
- Internet, cable and phone services
- Advertising purchases made with social media sites and search engines
On all other purchases or after you spend $150,000 combined in the above bonus categories, you’ll earn 1 point per dollar spent.
Since Chase Ultimate Rewards are worth 2.05 cents per point, based on TPG’s valuations, you’re earning a 6.15% return on your category bonus purchases and a 2.05% return on all other purchases.
As for the Ink Business Unlimited, cardholders earn 5% cash back on Lyft rides through March 2025 and a flat 1.5% cash back on all purchases, with no spending cap.
Winner: The Ink Business Preferred. This card allows you to earn bonus rewards in more categories.
Related: How to redeem Chase Ultimate Rewards points for maximum value
Redeeming rewards on the Ink Business Preferred vs. the Ink Business Unlimited
Even though both cards are in the Ink family, their redemption options are very different.
With the Ink Business Preferred, you can redeem your points in three ways. You can redeem them for cash back, where your points are worth 1 cent apiece. You can also use them for travel in two different ways.
You can either redeem points toward travel through the Chase travel portal, where points are worth 1.25 cents each, or transfer them to one of Chase’s 14 valuable airline and hotel transfer partners at a 1:1 ratio.
With the Ink Business Unlimited, you can redeem your points for cash back, gift cards or travel through Chase Travel.
Suppose you want to take advantage of Chase’s transfer partners. In that case, you must combine your rewards from the Ink Business Unlimited with a full-fledged Ultimate Rewards-earning card like the Ink Business Preferred, the Chase Sapphire Preferred or the Chase Sapphire Reserve.
Winner: The Ink Business Preferred. Both cards can redeem rewards for cash back or travel through Chase Travel, but the Ink Business Preferred doesn’t require you to carry another card to access Chase’s travel partners.
Related: Why I chose the Ink Business Preferred over the Chase Sapphire Reserve
Should I get the Ink Business Preferred or the Ink Business Unlimited?
If you spend a lot on bonus categories such as advertising or shipping and want to utilize Chase’s transfer partners, the Ink Business Preferred is a great option to help you maximize your rewards-earning potential. If you want a one-card setup and don’t want to worry about bonus categories, I recommend the Ink Business Unlimited with its flat unlimited cash-back earnings instead.
Bottom line
Both cards are solid options; it comes down to your business’ needs. Both offer various travel and purchase protections and the ability to earn valuable points or cash back, so your business can’t go wrong with either.
Choose the Ink Business Preferred if you want to maximize earnings with bonus categories or the Ink Business Unlimited if you want a simplified approach with a flat cash-back rate.
To learn more, read our full reviews of the Ink Business Preferred and the Ink Business Unlimited.
Apply here: Ink Business Preferred
Apply here: Ink Business Unlimited
