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The Ink Business Preferred® Credit Card is a favorite business credit card thanks to its 100,000 sign-up bonus, flexibility, and reward possibilities. However, it’s not the easiest to qualify for (but easier than you might think). Here are some steps you can take to get approved for the Chase Ink Preferred.

Learn More: Ink Business Preferred® Credit Card

Niagara Falls Butterfly Conservatory. Credit: Johnny Jet

Qualify for the Ink Business Preferred

Before we get into how to qualify for the Ink Business Preferred, let’s look at some of the benefits of the card.

Earn 3x Chase Ultimate Rewards® points per $1 on the first $150,000 spent on the following categories:

  • Travel purchases
  • Shipping purchases
  • Advertising on search engines and social media
  • Select internet, cable, and phone services

All other purchases, plus additional purchases made from the bonus categories after maximizing the spending bonus, will earn 1 point per dollar spent.

New Ink Business Preferred® Credit Card cardholders can earn 100k bonus points after spending $8,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠.

Points are worth 25% more when you redeem for travel through Chase Travel℠. So, 100,000 points are worth $1,250 toward travel with the 25% benefit for travel redemption.

The annual fee is $95, and there are $0 foreign transaction fees.

Have Good or Excellent Credit

You will need a minimum 670 personal credit score to apply for the Ink Preferred. A 670 credit score is the start of good credit. A 740 score starts with excellent credit.

A hard credit check on your personal credit report is necessary for most business credit cards, even if you apply with an EIN. The Chase Ink Preferred requires a personal guarantee to pay off your card balance if you have insufficient business cash reserves.

Before applying, be sure to unfreeze your personal credit reports with all three bureaus (Experian, Equifax, and TransUnion). Most reports indicate Experian is the most-pulled bureau. But it’s a wild card if Chase pulls the Equifax or TransUnion reports. It’s possible to pull all three.

Related: What Credit Score Is Needed For Chase Business Cards?

Have Less Than 5 New Credit Cards

Another reason why Chase checks your personal credit is that the Ink credit cards are subject to the Chase 5/24 application rules. In short, you won’t qualify for the Ink Preferred if you have opened or been named an authorized user for five or more credit cards in the last 24 months.

Additionally, you should only apply for only one Chase credit card within a rolling 30-day period. To play it safe, one application every 90 days is a better spacing practice. You have more time to establish a payment history, earn a signup bonus, and let your personal credit score recover.

If you pass this test, the good news is that opening a Chase Ink credit card doesn’t count against your 5/24 limit.

As a result, you can most likely apply for another Chase credit card in the near future and be approved if you’re hovering near the 5/24 threshold.

Related: Does Chase Have Good Business Credit Cards?

Haven’t Received an Ink Preferred Signup Bonus Recently

New Ink Business Preferred® Credit Card cardholders can earn 100k bonus points after spending $8,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠.

It’s a little trickier to qualify if you’re a previous cardholder.

The Ink Preferred application terms and conditions include this phrase to determine if you’re eligible for the card’s bonus:

  • “10) The new Cardmember bonus offer is only available if I do not have this card and have not received a new Cardmember bonus for this card in the past 24 months.”

So, if you’re a previous Ink Business Preferred cardholder, you must wait and apply for at least two years after receiving your first bonus for this card. You must also close your additional employee card for this product if you have one for another company.

You can be eligible for this bonus and have multiple cards within the Ink Business card family.

Related: The Best Small Business Credit Cards for Travel

Earn Business Income

Chase doesn’t publish any annual income or business history requirements. However, you will need to earn enough revenue to cover the minimum monthly payment. You can be an incorporated business (LLC, corporation, partnership, non-profit, etc.) or a sole proprietor.

You must also work in an eligible industry, essentially anything that earns money legally. When filling out the application, there is a dropdown menu for the business category. There are also secondary menus for business type and business sub-types.

This task determines your NAICS Code. This helps determine your credit limit and typical monthly expenses.

The application asks for your estimated monthly spending to compare your planned expenses to your reported income. These inputs help estimate your credit limit as well.

The Chase Ink Business Preferred credit limit is at least $5,000 for approved applications. This starting limit is a little bit higher than the no-annual-fee Ink Business Credit Cards which have a $3,000 minimum spending limit.

Data points suggest that your combined credit limit across all Chase credit cards can be as high as 50% of your annual income. The credit card issuer may verify your income before approving your application too.

At a minimum, you will most likely need at least $10,000 in annual business revenue to qualify for the Ink Business Preferred to make a $5,000 credit limit 50% or less of your annual income.

Related: Best Chase Business Credit Cards

U.S.-Based Business Address

The physical address of your business must be within the United States. It can be the same as your personal street address, but P.O. Boxes are not accepted.

You must also be at least 18 years old (19 years old in Alabama and Nebraska) and either have an Employer Identification Number (EIN), Social Security Number (SSN), or an Individual Taxpayer Identification Number (ITIN) to apply.

After submitting your personal and business details, Chase pulls your credit history and usually provides an instant application decision. You can check your Chase credit card application status online if your file requires further review.

Related: How Hard Is It To Get the Chase Ink Business Preferred?

Chase Banking Relationship

Having a Chase business banking account, a personal banking or credit card account, or other Chase business credit cards isn’t guaranteed to boost your approval, but it can help. When applying, you will sign in with your Chase login details to prefill some of the application.

The bank will review your Chase banking activity which makes it easier to verify your cash flow, average monthly expenses, and financial habits. If you’re a strong candidate, these additional details can help with approval.

The Chase Ink products are unlikely to appear in their preapproval tool, but you might receive an invitation to apply. This application offer may arrive by email or mail or appear in your online account as a “Just For You” offer. An invitation isn’t guaranteed approval, but your approval odds are probably strong.

Related: Ink Business Preferred Review


In conclusion, you will need good or excellent credit (preferably 700 or higher) and steady business income to have the best approval odds. If you have recently gone on a credit card application spree or are a previous Ink Preferred cardholder, you may need to wait as long as 24 months to avoid a rejected application. Hopefully, this article will help you qualify for the Ink Business Preferred.

Learn More: Ink Business Preferred® Credit Card

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