Per Bloomberg, Chase has plans to launch a brand new product called the Chase Ink Business Preferred which will offer a lucrative sign-up bonus of 80,000 Ultimate Rewards points, as well as a 3x points earning on travel and other business related expenses.
JPMorgan Chase & Co. is continuing its push to snag wealthier credit-card users and gain market share by introducing a top-tier small-business card with richer rewards than products from rivals.
Called Chase Ink Business Preferred, the card offers users an 80,000-point signing bonus when it rolls out later this year, according to Pam Codispoti, president of branded cards for the New York-based bank. Business owners earn 3 points a dollar for the first $150,000 spent on travel, telecommunications, shipping and advertising on social-media and search engines. Purchases after that limit or in other categories earn 1 point per dollar.
I’m excited to see Chase bringing a new business card to the marketplace, however it isn’t clear if their product with replace or just compliment their Chase Ink Plus card. I personally think, it will be a new card and the Ink Plus won’t be going away, similar to how they’ve launched their Chase Sapphire Reserve card, as a new addition to the Chase Sapphire Preferred.
What are your initial thoughts on the new Chase Ink Business Preferred card? Do you plan on signing up for it once it officially launches?
Hat Tip: Miles to Memories