The Ink Business Preferred\u00ae Credit Card<\/a> has long been touted as one of the best business cards<\/a> on the market. It has expansive bonus categories, a long list of travel as well as purchase protections and a reasonable $95 annual fee \u2013 and the card only gets more desirable after you factor in its six-figure welcome offer.<\/p>\n Right now, new applicants can earn 120,000 bonus points after spending $8,000 in the first three months from account opening. TPG’s July 2024 valuations<\/a> peg Ultimate Rewards points at 2.05 cents apiece, so this sign-up bonus represents $2,460 in value \u2014 the best-ever offer in this card’s history<\/a>.<\/p>\n While this sign-up bonus is alluring, cardholders must still meet a significant $8,000 spending threshold before seeing those bonus points posted to their account. One of TPG\u2019s 10 commandments for credit cards<\/a> is to never miss out on a sign-up bonus, so you\u2019ll want to strategize how to meet the spending minimum within the allotted time frame without stretching your finances.<\/p>\n Whether you\u2019re a freelancer<\/a>, self-employed or manage a physical storefront, let\u2019s go over how to help ensure you responsibly achieve the Ink Business Preferred\u2019s sign-up bonus.<\/p>\n Related: 5 reasons to get the Chase Ink Business Preferred Credit Card<\/a><\/strong><\/p>\n If you have a lot of ongoing business expenses (such as for equipment or advertising), spending $8,000 in three months should be doable. But what if you\u2019re self-employed and don\u2019t have many operating expenses or none at all?<\/p>\n Here are some creative ways you can meet the Ink Business Preferred\u2019s minimum spending requirements:<\/p>\n If this is your first business card, then it\u2019s a no-brainer that you should be putting all of your business expenses that you can pay with a credit card on your new Ink Business Preferred. Even if you already have another business credit card, it\u2019s worth prioritizing the Ink Business Preferred during these three months \u2014 even if that means forfeiting any bonus points from another earning rate.<\/p>\n If you have a physical storefront or an office, one of the easiest ways to take up a chunk of the requirement is to pay your rent or mortgage on your card<\/a>. If you\u2019re self-employed, you could consider paying your personal rent or mortgage with the Ink Business Preferred. While there is likely a fee for using a credit card as a payment method, do the math and calculate if the incurred fees are worth getting you to the finish line.<\/p>\n Even if your landlord doesn\u2019t accept credit cards, you can leverage tools like Plastiq<\/a>, a payment platform that accepts virtually every debit or credit card to pay for bills. Note there\u2019s a processing fee of up to 2.9%.<\/p>\n Let\u2019s say that your gross rent for three months adds up to $9,000. By using Plastiq, you may have to pay around $260 in fees \u2014 but you will have been able to cover all of that spending requirement from one expense and earn points in the process.<\/p>\n On a similar note, you can prepay utilities or bills you will end up paying in the future anyway. Whether that\u2019s your cellphone bill \u2014 as an added bonus, this will trigger the card\u2019s cellphone insurance \u2014 car payment, insurance or other similar expenses, you can try to pay as much as you can upfront with the card (keeping in mind what you can afford).<\/p>\n Another way to easily meet your minimum spending requirement is to prepay your quarterly (and other) taxes using your Ink Business Preferred card. Just note that you will incur a 1.82%-1.98% fee when paying taxes with a credit card<\/a>.<\/p>\n Whether you\u2019ve been considering booking your first cruise or going on a dream international trip, you can use your card to book ahead. Best of all, the Ink Business Preferred offers 3 points per dollar spent on travel, so you would be racking up a significant number of points by planning ahead.<\/p>\n If you\u2019re falling short of meeting the spending requirement, now is the time to use your Ink Business Preferred for every expense possible in your day-to-day life. Sure, you won\u2019t earn bonus points on groceries, restaurants, gas and other everyday purchases for the time being, but every dollar counts when it comes to earning that bonus.<\/p>\n When you\u2019re not actively chasing a sign-up bonus, we recommend not using your credit card in ways that wouldn\u2019t be sensible in normal scenarios. For instance, you would typically want to avoid unnecessary fees or using the Ink Business Preferred for non-bonus purchases.<\/p>\n So, here are some other considerations when pursuing this sign-up bonus:<\/p>\n For the sake of earning a sign-up bonus \u2014 even if it is an incredible six-figure offer \u2014 you don\u2019t want to spend what you can\u2019t afford. You should only put $8,000 of expenses on this card if you can afford to pay that off now or by your monthly statement due date. You don\u2019t want to fall into a trap of debt that could affect you and your credit score.<\/p>\n When charging thousands of dollars of expenses to your card, you\u2019ll want to avoid carrying that balance<\/a>\u00a0and incurring potential late fees and interest charges. The best practice is to pay your statement on time and in full<\/a> because these fees will start to offset the value of earning this sign-up bonus.<\/p>\n The clock starts ticking for earning the sign-up bonus as soon as you\u2019re approved<\/a>, but it could take up to 10 business days for your card to arrive in the mail \u2014 significantly shortening the three-month window. Be extra vigilant about the exact date by which you have to meet the minimum spending requirements.<\/p>\n An $8,000 spending requirement in three months is nothing to brush off. If you\u2019ve been considering applying for the Ink Business Preferred<\/a>, devise a game plan for meeting this requirement without putting yourself in debt. This sign-up bonus can provide immense value for the right cardholders, especially if you\u2019re working the Ink Business Preferred into your Chase trifecta strategy<\/a>.<\/p>\n If you\u2019re still unsure, check out our full review of the Ink Business Preferred<\/a> for more details on whether this card is a good fit for you.<\/p>\n Apply here: Ink Business Preferred<\/a><\/strong><\/p>\n <\/p>\nHow to meet the Ink Business Preferred minimum spending requirement<\/h2>\n
Move all of your business expenses to your new card<\/h3>\n
Consider paying rent or mortgage<\/h3>\n
Prepay routine utilities or bills<\/h3>\n
Pay your taxes<\/h3>\n
Book a trip ahead<\/h3>\n
If all else fails, use your card for expenses you normally wouldn\u2019t charge on it<\/h3>\n
Things to consider<\/h2>\n
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Don\u2019t overspend<\/h3>\n
Avoid carrying a balance<\/h3>\n
Beware of timing<\/h3>\n
Bottom line<\/h2>\n
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