Choosing the right credit card for your business can be a daunting task. With so many options available, it’s important to weigh the benefits and features of each card to find the one that suits your needs. Two popular choices among business owners are the Chase Sapphire Preferred and the Ink Business Preferred credit cards. Let’s compare the two and see which one comes out on top.
The Chase Sapphire Preferred card is known for its impressive rewards and benefits. With this card, you earn 2x points on travel and dining, making it a great choice for frequent travelers and food enthusiasts. The points can be redeemed for travel through Chase Ultimate Rewards, where they are worth 25% more. Additionally, you can transfer your points to airline and hotel loyalty programs, giving you even more options for redemption.
On the other hand, the Ink Business Preferred card offers some unique benefits for business owners. Similar to the Chase Sapphire Preferred, this card earns 3x points on travel, shipping, internet, cable, phone services, and select advertising expenses. This makes it an ideal choice for businesses with high spending in these categories. The points earned can be redeemed for travel, cash back, gift cards, or used to shop directly on the Chase Ultimate Rewards portal.
Where the Ink Business Preferred really shines is in its cell phone protection benefit. If you pay your monthly cell phone bill with the card, you are eligible for up to $600 in cell phone protection against theft or damage. This can save your business a significant amount of money if you have multiple lines or expensive phones.
Both cards offer a generous sign-up bonus – the Chase Sapphire Preferred currently offers 100,000 bonus points after spending $4,000 in the first three months, while the Ink Business Preferred offers 100,000 bonus points after spending $15,000 in the first three months. The spending requirement for the Ink Business Preferred may seem high, but for businesses with higher expenses, it can be easily achieved.
When it comes to annual fees, the Chase Sapphire Preferred charges $95 while the Ink Business Preferred charges $95 as well. However, for business owners who value travel rewards, the additional benefits of the Ink Business Preferred, such as extra earning categories and cell phone protection, make it worth the slightly higher fee.
Another important factor to consider is the additional perks and protections provided by each card. The Chase Sapphire Preferred offers trip cancellation/interruption insurance, trip delay reimbursement, and baggage delay insurance. The Ink Business Preferred offers similar coverage for business-related travel, as well as purchase protection and extended warranty protection for items purchased with the card.
Ultimately, the choice between the Chase Sapphire Preferred and the Ink Business Preferred depends on your personal preferences and business needs. If you prioritize travel rewards and enjoy dining out, the Chase Sapphire Preferred is a great choice. But if your business spends heavily in categories like travel, shipping, and phone services, and you value the cell phone protection benefit, the Ink Business Preferred may be the better option.
Regardless of which card you choose, both the Chase Sapphire Preferred and the Ink Business Preferred are excellent choices for business owners looking to maximize their rewards and enjoy added benefits.