Chase Sapphire Preferred vs. Ink Business Preferred: Which $95-a-year card should you get?

Editor’s note: This is a recurring post, regularly updated with new information and offers.

With so many fantastic travel rewards credit cards available, including some with large sign-up bonuses and phenomenal benefits, you might have difficulty choosing one (or a combination) that suits your needs. This can become even more overwhelming if you qualify for a small-business credit card, which opens the door to many additional options.

Two of the most valuable mid-tier cards from Chase include the Chase Sapphire Preferred Card and Ink Business Preferred Credit Card, which have similar benefits — including earning Ultimate Rewards points and annual fees of $95.

While they make a pretty powerful team, you might only want or be eligible for one or the other — for instance, if you are not looking for a business card or are nearing your 5/24 limit with Chase. Today, we’re going to take a look at how these cards stack up against each other and help you decide whether one or both deserve a place in your wallet.

TPG values Ultimate Rewards points at 2 cents each, making these bonuses worth $1,200 and $2,000, respectively. While the Ink Preferred cleans the table when it comes to bonus value, that $8,000 minimum spending requirement might difficult for some businesses to hit, so you’ll want to consider your spending power when deciding which card to get.

Winner: Ink Business Preferred.

Related: A great all-around business card: Ink Business Preferred Credit Card review

Each card includes trip cancellation and interruption insurance. With the Ink Business Preferred, you’re covered for up to $5,000 per trip for pre-paid, nonrefundable travel expenses. The Sapphire Preferred covers up to $10,000 per person or up to $20,000 per trip. Trip delay reimbursement for things like overnight lodging or meals kicks in at 12 hours with both cards and covers you up to $500 per ticket.

The baggage delay insurance is identical on both cards: up to $100 per day for up to five days when your bag is delayed or misdirected for more than six hours. Lost luggage insurance with both cards is up to $3,000 per passenger. Both also carry travel accident insurance for death and dismemberment up to $500,000.

Both cards offer primary rental car coverage, which is a fantastic benefit and alleviates the expense and hassle of dealing with an agency or your own insurance if things go wrong with a rental. However, the Ink Business Preferred’s benefits state that your rental must be for business purposes for its protection to kick in.

Winner: Sapphire Preferred.

Related: Chase Sapphire Preferred credit card review

The cards’ earning rates are very different. The Chase Sapphire Preferred earns 5 points per dollar on hotels and car rentals purchased through Chase, plus 2 points per dollar on a broad range of travel purchases, including airline tickets and hotel stays, and things such as taxis, tolls and parking. The card also earns 3 points per dollar on dining worldwide, and one point per dollar on everything else, all with no caps on earning.

The Chase Ink Business Preferred earns a solid 3 points per dollar on the first $150,000 spent each account anniversary year on a combination of travel (the same broad category as with the Sapphire Preferred); shipping purchases; internet, cable and phone services; and advertising purchases made with social media sites and search engines. It earns 1 point per dollar on everything else.

There are a couple of things to keep in mind here. First, if dining is one of your major expenses, the Chase Sapphire Preferred is the way to go. However, if travel is your main outlay, the Ink Business Preferred’s 3-points-per-dollar bonus edges out the Sapphire Preferred’s 2-points-per-dollar rate in this category.

Another consideration is that if you are a business owner and spend a lot of money in the card’s other bonus categories, you might hit that $150,000 annual cap sooner than you think. Still, to make the Sapphire Preferred worth it over the Ink Business Preferred strictly in terms of travel, you’d have to spend $225,000 or more in travel purchases each year instead of $150,000 with the business card.

Winner: Tie. The categories differ significantly.

Both cards earn Ultimate Rewards points, some of the most valuable around.

You’ll get the highest value from your points by transferring them to one of the program’s 11 airline or three hotel loyalty partners.

Cardholders of either product can also redeem points directly for travel through the Chase travel portal to get 1.25 cents per point in value.

Finally, you can use your points to Pay Yourself Back in certain categories. Both cards offer a 1.25 cent per point value when redeeming for charity donations (through Dec. 31, 2023), and Sapphire Preferred cardholders can redeem points at a 1-cent value for gas stations and groceries (through Sept. 30, 2023).

Winner: Tie.

Ultimate Rewards can be transferred to 11 airline partners, including British Airways, Southwest and United, and three hotel programs, namely Marriott Bonvoy, World of Hyatt and IHG One Rewards.

Winner: Tie.

Contrary to popular belief, you don’t need to own a business to apply for a business credit card. Issuers recognize that even employees and freelancers often need business credit cards for many reasons, such as being able to charge work-related purchases. You might be eligible to apply for a business card without knowing it. What’s more, the activity on your business account usually sits apart from the information on your personal credit report, so it should not affect your personal credit score.

If you prefer a personal credit card and can maximize the Chase Sapphire Preferred’s superior travel protections, not to mention its handy dining category bonus, it might be the better option for you.

Still, the Sapphire Preferred and Ink Business Preferred combination is a powerful match-up that could boost your travel rewards earnings into the stratosphere.

If you’re trying to decide between the Chase Sapphire Preferred and Ink Business Preferred, think about whether you want a business or personal card, which one’s category bonuses you will best be able to take advantage of, and which one’s travel protections are better suited to your needs. The two products are among the best travel rewards credit cards currently available, and carrying both is a good way to boost your points earnings on an ongoing basis.

To learn more, read our full reviews of the Chase Sapphire Preferred and Ink Business Preferred.

Apply here: Chase Sapphire Preferred and Ink Business Preferred

Additional reporting by Madison Blancaflor and Ethan Steinberg.