What is the credit limit for the Chase Ink Business Preferred credit card?

The Chase Ink Business Preferred credit card typically starts with a credit limit of $5,000. But is your Chase Ink Business Preferred credit limit holding your business back?

If you want to maximize your spending power and avoid unexpected roadblocks, it pays to understand how the Chase Ink Business Preferred credit card limits work.

In this article, you'll learn what you need to know about the credit limit for the Chase Ink Business Preferred credit card, including its features, how credit limits are determined, and excellent alternatives if the card isn’t right for your business.

What is the limit on the Chase Ink Business Preferred Credit Card?

The Chase Ink Business Preferred card typically starts with a $5,000 credit limit, but it can vary based on you and your business’s financial situation. Expect a thorough review of your credit report and the financial information of your company, including your business's credit score, revenue, repayment history, and debt.

The upper credit limit can be much higher, potentially extending well above $25,000. If you need a higher line of credit, additional information might be requested to justify it. This process makes sure that the credit limit set is aligned with your financial capabilities and business needs, allowing you to use the card effectively without facing undue financial strain.

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Does Chase Ink Business check personal credit?

Yes, it is possible that Chase will check your personal credit when determining your Chase Ink Business Card credit limit. According to the Chase website, “For new businesses that haven't had time to establish credit yet, lenders will likely look at the business owner's.”

Other Chase Ink business card limits

• Ink Business Cash® Credit Card: $3,000, at a minimum.
• Ink Business Unlimited® Credit Card: $3,000, at a minimum.
• Ink Business Preferred® Credit Card: $5,000, at a minimum.
• Ink Business Premier® Credit Card: $10,000, at a minimum.

Which Chase credit cards have no preset spending limit?

Chase doesn’t currently offer credit cards with no preset spending limit, though the Ink Business Premier® Credit Card is what the bank calls a "Pay in Full Card." If you’re looking for high limit business credit cards, consider a charge card, like Ramp’s. Cards like these offer a more flexible spending approach with higher spending limits that adjust based on your payment history and spending patterns.

Chase Ink Business Preferred credit card overview

The Chase Ink Business Preferred Credit Card offers a substantial sign-up bonus and allows you to earn Ultimate Rewards points on a variety of business expenses. These points can be transferred to 14 different airline and hotel partners or redeemed directly for travel through Chase Travel at a rate of 1.25 cents per point.

The card has an annual fee of $95.

What credit score do you need for the Ink Business Preferred?

To be eligible, a credit score of at least 670 is recommended. It is a viable option for those with good credit.

Chase Ink Business Preferred welcome bonus

If you're approved for the Chase Ink Business Preferred Credit Card, you'll have the opportunity to earn a sign-up bonus of 100,000 Rewards points after spending $8,000 within the first three months of account opening.

Transferring the points to travel partners like British Airways, United Airlines, Iberia, and Hyatt can increase the potential redemption value of these points.

To meet the spending requirement for the welcome offer, you would need to average about $2,667 per month over the first three months. For many small businesses, this expenditure level is typical and achievable. Additionally, to facilitate reaching this spending target, you can get unlimited free employee cards, which can accumulate spending towards the bonus.

Rewards with the Chase Ink Business Preferred credit card

The Chase Ink Business Preferred Credit Card features a comprehensive rewards program with various perks and protections. Here are the details:

Earning rates and redemption options

The Chase Ink Business Preferred Credit Card maximizes your rewards on essential business categories. It offers 3 Ultimate Rewards points per dollar on the first $150,000 spent annually across travel, shipping, internet, cable, and phone services, plus advertising on social media and search engines. After reaching this threshold, purchases in these categories earn at a standard rate of 1 point per dollar.

You can transfer these points to various hotels and airlines partnered with Chase, which might increase their value. When you book directly through Chase Travel, your points are worth 1.25 cents each for flights, hotels, and rentals.

The transfer flexibility and potential for increased value through travel partners can be relevant factors for business owners who travel frequently. Using Chase Travel for booking can offer additional rewards while still allowing you to accumulate airline miles and elite benefits.

Cell phone protection

By paying your monthly cellphone bill with the card and earning 3 points per dollar on phone services, you qualify for coverage of up to $600 per claim for damage or theft. This combined benefit may be relevant for business owners with frequent phone expenses.

Comprehensive purchase protections

The card extends its utility with purchase protection, covering new purchases against damage or theft for the first 120 days, up to $10,000 per claim. This benefit may be useful for protecting high-value business purchases.

Travel coverage

The card provides trip cancellation and interruption insurance for business owners who travel, covering up to $5,000 per person for non-refundable travel expenses. Additionally, if a trip is delayed by 12 hours or more, you can receive up to $500 per ticket in reimbursement for reasonable expenses.

This is complemented by primary car rental coverage when the rental is charged in full to the card and the trip is for business purposes, covering theft and damage up to the vehicle's actual cash value.

Extended warranty and business tools

Purchases with a U.S. manufacturer's warranty of three years or less receive an additional year of coverage, easing concerns about equipment or technology failures shortly after the manufacturer's warranty expires.

‍Is the Chase Ink Business Preferred a good credit card?

The Chase Ink Business Preferred's suitability depends on your business's specific needs and spending habits. Frequent business travelers who can maximize its rewards and protections may find it valuable. However, the annual fee and high spending requirements for the welcome bonus might not be ideal for all businesses.

Additionally, its low credit limits could curb your spending power.

Many businesses look to the Ramp Business Credit Card instead for its higher lines of credit, simplified rewards, and more useful business integrations.

How to sign up for a Chase Ink Business Card

To apply, visit the Chase website and select the Chase Ink Business Preferred card. Provide the required business and personal information, including tax ID numbers and Social Security numbers. Once your application is submitted, Chase will review it and notify you of the decision. If approved, you can then pursue the Chase business preferred account activation.

How do I increase my Chase Business Ink limit?

Here’s how to up your credit limit with Chase:

• Establish a history of timely payments: Chase typically looks for a pattern of on-time payments over a period before considering a credit limit increase. Aim for at least six consecutive months of punctual payments to strengthen your case for a higher limit.
• Understand the credit check requirements: Before you request an increase, it's essential to know whether Chase will perform a hard credit check, as this could temporarily impact your credit score. Hard inquiries are usually made when a cardholder asks for a limit increase.
• Set a target increase amount: When requesting a credit limit increase, have a specific figure in mind. To maintain realistic expectations, aim for a moderate increase, typically between 10% and 25% of your current limit.
• Optimize your credit utilization: The lower you keep your credit card usage (around 30% or less), the more it shows Chase that you're responsible with credit. This can help you get a higher credit limit.
• Reduce your outstanding debt: Paying down existing debts, whether personal or business-related, can improve your overall financial profile and increase your likelihood of qualifying for a higher credit limit.
• Demonstrate financial growth: Showcasing an increase in your business revenue and consistent deposits into your accounts can show your ability to manage a higher credit line effectively.

How often does Chase increase business credit limit?‍

Chase doesn’t have a specific schedule for increasing business credit limits; however, it may automatically increase your limit every six if your business borrowing is in good standing. You can also request a credit limit increase at any time.

By following these strategies and understanding Chase’s review process, which considers each request individually without specific public criteria, you can better position yourself to negotiate an increase in your credit limit.

Need higher limits? Consider the Ramp Business Credit Card as an alternative

While the Chase Ink Business Preferred offers some benefits for business owners, Ramp's Business Credit Card provides a more comprehensive solution for modern businesses.

Here's what you can expect from the Ramp Business Credit Card over the Chase Ink Business Preferred experience:

• Enhanced spending control: Ramp allows you to set proactive spending limits, category and merchant restrictions, and receipt requirements at the vendor level. This granular control helps prevent unauthorized spending before it happens, and its automation goes beyond Chase's basic account alerts.
• Real-time visibility and management: Ramp offers immediate insights into company spending, making financial tracking effortless. You can set daily limits, auto-lock cards, and create card programs. The sub-admin role feature provides additional flexibility in managing your business finances.
• Superior integrations: Ramp seamlessly integrates with popular accounting software like NetSuite, QuickBooks, Xero, and Sage Intacct, along with hundreds of other providers. This extensive integration capability surpasses Chase's limited business tools.
• No annual fee: While Chase charges a $95 annual fee, Ramp has no annual fee or foreign transaction fees.
• Straightforward rewards: Ramp provides straightforward cashback rewards without the complicated category limits found in Chase's reward program.
• Higher credit limits and easier qualification: Ramp uses sales-based underwriting, making it easier for businesses to qualify for credit limits up to 30 times higher than traditional cards.‍

FAQs

Is there a limit on business credit cards?

Yes. Similar to a personal credit card, business credit cards typically have a limit on how much you can spend. However, if you consider a corporate charge card, there will be no preset spending limits.

How much is the initial Chase credit card credit limit?

The starting credit limit for a single credit card can range from $500 to $10,000, depending on factors like the type of card and the applicant’s credit score.

How do I request a credit limit increase with Chase?

You can request a credit limit increase over the phone by calling the number on the back of your card or the Chase Business Customer Service at 800-242-7338.

What is the Chase Business Ink max limit?

The upper limit of Chase Business Ink cards is $25,000.

What credit score do I need for a Chase Ink card?

You will improve the likelihood of approval if you apply with a credit score of at least 670 or more.

Which Ink Business credit card is best?

For straightforward cashback, the Ink Business Unlimited Credit Card is best. For travel rewards nerds, the Chase Ink Business Preferred—discussed here—is preferred. And high-volume spenders tend to like the Chase Ink Business Premier, which offers 5% cash back on the first $25,000 of eligible spend.

While these are great options, consider exploring the Ramp Business Credit Card. It offers unique, business-specific features like expense management tools, real-time insights, and flexible spending controls.

Modern businesses choose the Ramp Business Credit Card

For businesses prioritizing growth, control, and efficiency, Ramp integrates seamlessly into your financial operations.

We offer a more comprehensive solution than the Chase Ink Business Preferred, helping you save time and money while providing better visibility and control over your business expenses.

Explore how Ramp can transform your business spending and financial management.

Disclaimer: The information provided in this article has not been officially confirmed by Chase and is subject to change.