We Got a New Card! Chase Ink Preferred Business Credit Card Review (100K Point Sign Up Bonus) 2024

if you haven't heard of the Chase business Inc Preferred Card it's a very talked about credit card because of its incredible signup bonus not only that but there are also a few great benefits that the card provides that could make it a worthy card for your wallet we just applied for this credit card a few weeks ago so in this video I'll talk about our experience with the card why we got it it's pros and cons and make sure you stick around for the end of the video as I'll talk a bit about how we're using the sign up bonus hey there welcome to with Jazzy on this channel I talk about personal finance and credit cards and if you like the video please leave a thumbs up and consider subscribing before we go over my experience with the card let's talk about its features so the chase Inc business card line has four credit cards and two of them have no annual fees then you have the business Premiere which has a $195 annual fee but today we'll just be going over the business preferred which has a $95 annual fee and by we I mean my husband he applied for the card and got approved and me as a wife I also get to share the benefit and with this $95 annual fee comes with a very much desired 100,000 Point welcome bonus as long as you spend $8,000 within the first 3 months of opening the account some might say that $8,000 is a lot to spend which could be true but it's a business card and generally business credit cards have higher spending requirements so getting into the rewards you can get three times the points on your first $150,000 spent every year on the card in the following categories so you get three times the points on shipping purchases internet cable phone services advertising with social media and travel and then you get one times the points on everything else and then for a limited time you can get five times the points on lift until March 2025 and then other benefits with the card include getting cell phone protection trip cancellation Insurance primary auto rental collision damage waiver and then other types of protections next up let's talk about Redemption options so to talk about the different Redemption options the card has you can redeem points by either getting cash back you can shop with points or you can get them in the form of gift cards also points don't expire but personally I would suggest to use the points on travel or transferring them out as you do tend to get the most value from that this card also works similarly to the chase software preferred as you can redeem the points for 25% more if you use them on the Chase Ultimate Rewards travel portal or you can transfer them to travel Partners at a on: one value so those were the features and rewards with this card now let's talk about who can get the card and how to get approved according to various sites online the recommended credit limit to get the ink preferred is $7 00 and above my husband's credit score was 775 on Transunion and Equifax and also just to Note 2 months prior we did apply for a mortgage loan and had a few hard inquiries on our credit score but nevertheless we were able to get approved for the card now talking about the application how we filled it to get the card so this application asked for the typical personal information and then it asked for your business information so we selected soul pro prior ship as our business and then we entered what would be our estimated business revenue and then also note that you don't need to have proof that you own a business to get a business credit card you don't need to have an LLC and the IRS isn't going to come at you to find this out either in fact you just in general don't need a business to own a business credit card but in my case I did start this Channel and hope to make some Revenue so I put my estimates in the application so what I'm really trying to say here is even if you're just thinking about getting a a business or you don't even know how well your business will do or you're just looking out for new credit cards and how to get these welcome bonuses regardless you can apply to this card of course make sure you're wise on your spending and you don't carry High balances on the card next up let's talk about credit limits because I was a little bit surprised in the credit limit that we received for this card so as a comparison my husband's other credit cards the capital 1 Venture X the Chase Freedom unlim Ed in the chase Hyatt he has a $20,000 limit $16,000 and $177,000 limits respectively for these cards but when we got approved for the ink preferred we only received a $6,000 limit now my guess is for this low limit in our application we put $6,000 as our estimated Revenue but maybe this is a case-by casee basis or maybe it is correlated to how much revenue you project per year but anyway I was still expecting to get $88,000 as a minimum for our credit limit as that is the minimum spending requirement to get the welcome bonus so I talked a bit about getting the card because of my small Channel business but looking at that $8,000 spending and just 3 months to be honest that is a lot of money in a short period of time but actually we do have some plans on how to spend this so the main reason why we got this card is because my husband is planning to get the chase saire preferred second signup bonus but we're just waiting for that sign up bonus to go above 60,000 points but actually we couldn't wait any longer because we had a huge expense coming up for our new house which was to buy a new kitchen countertop now of course countertops they are pretty expensive as we were quoted $7,000 and instead of taking all that and spending it with cash why not put it on a credit card and get points a along with it so luckily we had this opportunity because also the countertop company they didn't charge extra fees with paying with credit cards so we decided why not get a new credit card and the new credit card was going to be the ink preferred but just understand that if you do want to copy what I did and you want to put a huge expense on your credit card just make sure that if the company charges extra fees by paying with credit cards you're going to want to choose whatever makes sense so now we have completed that minimum spending to receive the sign up bonus and actually we're still waiting on getting the points for them to kick in it's been about 2 weeks since we finished paying but that's just the timeline that we have right now and moving forward most likely we will be using this car to pay for our phone bills and our internet expenses as you do get three times the points for those categories now let's take a moment to talk about how we're going to be using these points and like I said a moment ago our 100,000 points are still pending on the card so we cannot directly use them yet but actually this card has already proved to be pretty useful with these points so some story time here a few days ago I was looking at the built travel portal and I noticed on their Transfer Partner site that there was a special deal going on where we could go from Dallas to Japan round trip for just 60,000 points per person this deal is pretty crazy because most of the time you have to spend at least $115,000 cash or 100,000 points to go round trip and while this is economy it still is 40% less than usual so I just had to hop on this deal and by the way this data came from built partnership with points. me which is a site where you can see special rates of points only routes normally you would have to pay for this service but it is free if you own the built credit card and these points only routes their us usually hard to spot because Google flights only provides cash only options so to go back to how we use the business Inc Preferred Card we would have to transfer our points to British Airways and that's where the deal was so my husband had enough points but previously he wouldn't be able to transfer the points to transfer partners because his cards don't allow him to on Chase but now that he has the business ink card he was able to take the points from his other Chase cards put them on the business Preferred Card and then transfer them to British Airways so that's what we did that's how we were able to get two roundtrip tickets for only 120,000 points to Japan of course if you have the Sapphire card you can totally do this but in our case this was the best option by the way if you're interested in the built card you can definitely check out my video as I really believe this is a great card next up let's talk about things to look after in business cards so if it's your first time applying to a business credit card here are some things to note that might be different compared to other credit cards so for one business credit cards they are separate from the chase 524 Rule and if you haven't heard of that rule it's usually been noted that chase tends to decline your credit card application if you've been approved to five or more credit cards within the past 24 months however business credit cards are excluded from this rule two is that business credit cards typically do not impact your personal credit score so you do get a hard pull when you apply to the business credit card but after that your credit score will generally not be affected so if you accidentally make a late payment or you carry a higher balance on the card it will actually report to the commercial credit bureaus The Only Exception is if you have some serious negative payment history and then that might be transferred to your personal credit score just be smart you know finally if you get rejected call Chase a lot of times there might be a mistake or they could just reconsider your application it doesn't hurt to call okay so that's the end of this video If you all have any questions or you want to learn more about the chase Inc business Preferred Credit Card just leave me a comment below on this video and I'll see you in another one bye