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There is a new small business card in town – the Chase Ink Business Preferred credit card offering three points per dollar on key purchases and up to 80,000 bonus points. It is being rolled out just in time for the holidays, giving small businesses the enhanced rewards on the first $150,000 of spend each year, on key purchases including travel, shipping, phone & cable service, and advertising with search engines and social media sites.
For Chase this new card is a way to keep up with the constantly evolving business climate. "The way small business owners have to run their business and stay ahead is constantly changing," said Pam Codispoti, President of Chase Branded Cards. "We designed Chase Ink Business Preferred with today's small business owners in mind so they can earn more points in growing categories like digital advertising and, in turn, redeem points to help fuel the growth of their business."
Modernized categories, cashing in rewards and more
With the New Chase Ink Business Preferred cardholders can score 80,000 points once they spend $5,000 over the first 90 days. When small businesses are ready to redeem these points they can be cashed in for $1,000 in travel when plans are booked through Chase Ultimate Rewards.
When earning three points per $1 on up to $150,000 during the year, there are four categories that this earning rate applies to including:
• Travel – booking airline tickets, hotels, car rentals, taxis and train tickets
• Shipping-based purchases
• Internet, cable and phone services
• Advertising purchases specifically made via social media sites and search engines, which includes Google AdWords and/or Facebook.
When cardholders are ready to spend down their points they can do so by booking travel with Chase Ultimate Rewards, and when they do, their points are worth 25% more than they would normally be. Businesses can also opt to get cash back, or redeem them for gift cards or shop with their points on Amazon.com.
Points can also be transferred to frequent flyer program with a full 1:1 value.
As long as the business has an open account, points do not expire. There is a $95 fee for this card.
Small businesses also get access to additional benefits, including receiving free employee cards and having no foreign transaction fees to wrestle with when traveling. Cell phones are also protected if they are damaged or stolen if the cell phone bill is paid via the Chase Ink Business Preferred credit card.
Additional benefits include:
• Trip cancellation/trip interruption insurance
• Auto rental collision damage waiver
• Price, extended warranty, purchase, and return protection
• Fraud early warning
• Zero liability protection