Ultimate Guide to Chase Ink Business Preferred Cell Phone Protection (Insurance) [2021]

The Chase Ink Business Preferred is arguably the most valuable business credit card.

It’s one of the best business credit cards for entrepreneurs with it bonus categories on advertising and travel but it’s also a great card to pay your cell phone bill with.

Here’s the ultimate guide to the Chase Ink Preferred cell phone protection (insurance).

What is the Chase Ink Business Preferred Cell Phone Protection?

The Chase Ink Business Preferred cell phone protection will protect you against damage, theft, or involuntary and accidental parting of your cell phone when you use your Chase Ink Preferred to pay your phone bill.

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What does “involuntary and accidental parting” mean?

Involuntary and accidental parting with property means “the unintended separation from an item of personal property in which the item’s location is known but recovery is impractical to complete.”

So for example if you unintentionally drop your phone in the ocean then you might have grounds for coverage since you know it’s in the ocean but draining the ocean and/or going on a scuba mission to recover your phone is pretty impractical.

However, if you just left your phone sitting out somewhere but can’t remember, your phone could be anywhere so you can’t argue that you know its location.

So the take-a-way is that lost phones are not covered. I think there’s definitely some grey area in the language regarding practical recovery and some benefit services love to fall back on grey areas in their terms to deny coverage.

Thus, be prepared to plead your case if you’re going to argue recovery of your phone is “impractical.”

$100 deductible

The protection requires a $100 deductible per claim and allows a maximum of 3 claims per 12 month period. You will receive no more than the purchase price less your $100 deductible. The maximum coverage limit is $600 per claim and $1,800 dollars per 12 month period.

Practically speaking, this means you’re able to get up to $500 worth of free credit towards repairs or replacements per claim and up to $1,500 per year.

The $100 deductible is a bit of a bummer for a couple of reasons. For one, if it’s just your screen that needs fixing, you can often find kiosks in shopping malls or online vendors that can fix it for under $100.

It’s also a bit of a bummer because there are other cards that offer $25 deductibles for similar coverage like the Wells Fargo Cash Wise.

But even with that limitation, the protection can still be very worthwhile.

Chase Ink Preferred Cell Phone Protection

How the cell phone protection coverage works

To be eligible for the cell phone insurance perk you must charge your monthly cellular wireless telephone bills to your Chase Ink Preferred card.

This is key to remember — just being a Chase Ink Preferred cardmember is not enough to kick in the cell phone protection perk. Also, just because you purchased your phone with the Chase Ink Preferred that does not mean that you’ll get coverage.

When the cell phone protection begins

The cellular telephone protection begins the day following your cellular wireless telephone bill payment and remains in effect until the last day of the calendar month following the payment. Coverage is suspended if no payment is made on your eligible card.

This is another key thing to consider.

The cell phone insurance does not kick in until “the day following your cellular wireless telephone bill payment.” So until you actually make a payment on your cell phone bill, you are not covered by the Chase Ink Preferred.

To illustrate, say you get a new cell phone on March 15, 2019 but you don’t make a payment until March 31, 2019. This means that the protection won’t apply to any damage that occurs in the month of March 2019.

When the cell phone protection ends

Also, if you ever fail to make a payment or switch up your payment then you will eventually lose the protection. In those situations, the coverage would end the last day of the calendar month following the payment.

Coverage is secondary

The cell phone protection is supplemental to cellular wireless telephone insurance programs, homeowner’s, renter’s, automobile, or employer’s insurance policies.

What this means is that if you have cell phone insurance like that offered by Verizon, this benefit only kicks in when that coverage has been exhausted.

What is not covered?

There’s a pretty extensive list of items that are not covered.

But I’ll focus on three areas I think are pretty important.

“Mysteriously disappear”

Phones that are lost or “mysteriously disappear” will not be covered. Mysterious disappearance” means the “vanishing of an item in an unexplained manner where there is absence of evidence of a wrongful act by a person or persons.”

Again, I think there’s a lot of room for interpretation with this provision. I take it to mean that if you claim your phone was stolen from your car but there’s not a police report or any supporting documentation, that probably falls under “mysteriously disappeared.”

Pre-paid phones

You should know that phones that have been rented, leased, borrowed or that are a part of a pre-paid wireless service plan or “pay as you go” type service plan are not eligible.

Phones not purchased from authorized dealers

Cell phones not purchased from a cellular service provider’s retail or Internet store, (for example: Verizon Wireless, Sprint Wireless, etc.) or from an authorized cellular phone retailer are not eligible.

Additional exclusions

The following items are also excluded:

  • Phone accessories
  • Phones purchased for resale.
  • Phones under the care and control of a common carrier
  • Phones stolen from baggage unless hand-carried and under your supervision
  • Cosmetic damage to the phone that does not impact the functionalities of the phone.
  • Damage or theft resulting from abuse, intentional acts, fraud, illegal activities, etc.
  • Damage or theft resulting from mis-delivery or voluntary parting with the cellular wireless telephone.

You can look more into the terms and conditions here.

How do I file a claim?

It’s really important to contact the Benefit Administrator at 888-320-9956 within 60 days of damage, theft or involuntary and accidental parting. If you wait any longer than that, your claim may be denied.

The Benefit Administrator representative will ask you some preliminary questions and send you a claim form or you can file your claim online.

I recommend filing a claim online because it’ usually much easier. You’ll go to the Card Benefit Services website to file online.

This claim form must be completed, signed, and returned with all the requested documentation within 90 days from the date of the incident, or your claim might be denied.

The process for filing online is very similar to filing an extended warranty claim for cell phone protection which you can read about here.

What do I need to submit with my claim?

Just like with any other credit card protection, you need to do your best to keep records of every document related to the benefit you’re seeking.

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Standard documents needed

The documents that you’ll need to submit a claim may include:

  • Your completed and signed claim form.
  • Copies of your card statement showing the entire monthly cell phone payment(s) preceding the date of damage, theft or involuntary and accidental parting.
  • A copy of your cell phone bill that corresponds with the above card statement.
  • A copy of your cell phone provider’s wireless device page or other sufficient proof, as determined in the Benefit Administrator’s sole discretion, of the cellular wireless telephone model currently linked to Your cellular wireless telephone account.
  • If the claim is due to theft or criminal action, a copy of the police report or incident report filed within 48 hours of the occurrence.

If the claim is due to damage, a copy of an insurance claim or other report as the Benefit Administrator, in its sole discretion, deems necessary to determine eligibility for coverage.

Additional possible documents needed

In addition the Benefit Administrator may in its sole discretion require:

  • (a) An itemized estimate of repair from an authorized repair facility
  • (b) The cell phone in question
  • (c) an itemized store receipt for the replacement cell phones showing the purchase was made at an authorized cellular service provider’s retail or Internet store.

As you can see, the Benefit Administrator is going to want to see documents to back up everything. It shouldn’t be difficult for you to retrieve most of these items online but when it comes to itemized receipts or even the cell phone itself, you need to make sure you’re prepared to hand those over if needed.

How will I be reimbursed if my claim is approved?

Depending on the nature and circumstances of the incident, the Benefit Administrator, at its sole discretion, may choose to repair or replace the cellular wireless telephone or reimburse the Cardholder for the lesser of:

  • a) $600 dollars excess of the $100.00 deductible; or
  • b) the current suggested retail price of a replacement cellular wireless telephone of like kind and quality, excluding taxes, delivery and transportation charges, and any fees associated with the cellular wireless telephone service provider, less the $100.00 deductible.

Under normal circumstances, reimbursement will take place within ten (10) business days of receipt and approval of claim form and all required documents.

Additional Provisions for Cellular Telephone Protection:

This protection provides benefits that only apply to the cardholder and eligible lines listed on the most recent cellular provider’s monthly billing statement for the billing cycle prior to when the incident occurred.

Many state that the protections only apply to employees on the monthly billing statement but the terms and conditions don’t clarify that.

Here are some additional restrictions:

  • If You make any claim knowing it to be false or fraudulent in any respect including, but not limited to, the cost of repair services, no coverage shall exist for such claim and the Cellular Telephone Protection benefit may be canceled.
  • Once you report an occurrence of the incident, a claim file will be opened and shall remain open for six months from the date of the incident. No payment will be made on a claim that is not completely substantiated in the manner required by the Benefit Administrator within six months of the date of the incident.

Other cards that provide cell phone insurance

There are a few other credit cards that provide this benefit but they are personal credit cards.

Wells Fargo credit cards

Wells Fargo has some great rewards credit cards that I think a lot of people sleep on. Several of these cards like the Well Fargo Propel and the Cash Wise card come with cell phone protection up to a maximum benefit limit of $600 per claim and $1,200 per 12 month period.

But what makes them stand out is that the deductible is only $25.

Barclays Uber

The Barclays Uber card is one of the best cash back credit cards and arguably the best card for dining since it earns a whopping 4% back!

Other cards

A few other cards also offer cell phone protection including the Absolute Rewards card from First National Bank of Omaha and the Platinum Visa from U.S. Bank.

Chase Ink Cell Phone Protection FAQ

What is the deductible for Chase Ink Business Preferred cell phone protection?

The deductible is $100 per claim.

What is the maximum number of claims for Chase Ink Business Preferred cell phone protection?

You can file a maximum of three claims per 12 month period.

What is the maximum coverage limit for Chase Ink Business Preferred cell phone protection?

The maximum coverage limit is $600 per claim and $1,800 dollars per 12 month period.

How do I get the cell phone protection?

You can trigger coverage by paying your cell phone bill with your Chase Ink Business Preferred.

Can I get coverage for a pre-paid phone?

Phones that have been rented, leased, borrowed or that are a part of a pre-paid wireless service plan or “pay as you go” type service plan are not eligible.

Does the Ink Cash have this benefit?

The Chase Ink Cash is a great card but unfortunately it does not provide cell phone protection. Also, the Chase Sapphire Preferred (full card review) and the Chase Sapphire Reserve also do not provide these benefits.

Do you have to buy the cell phone with your Chase Ink card?

No, you only need to pay your cell phone bill with the Chase Ink Preferred in order for the benefit to kick in.

Final word

The Chase Ink Preferred cell phone protection benefit is a great perk but it does have its limitations compared to other cards. The most important thing is to know is that you must pay your cell phone bill with the Ink Preferred in order for coverage to kick in and that you need to document everything as best you can so that you can smoothly process your claim.

Chase Ink Business Preferred Review (100,000 Points!) [2020]

The Chase Ink Preferred is one of the most popular small business credit cards on the market due its high value potential, solid travel and purchase protections, and strong bonus categories. But is it truly worth all the praise or is this card a little overhyped? 

In this review article, I’m going to break down the Chase Ink Preferred and take a look at all of the value that this card has to offer and go over the benefits like the 100,000 point sign-up bonus, bonus spending, cell phone insurance, and a few others.

Be sure to check out the YouTube video at the end as well!

Sign-up bonus

The standard sign-up bonus for the Chase Ink Preferred is 100,000 points after you spend $15,000 on purchases in the first 3 months from account opening.

This is one of the most valuable credit card sign-up bonuses available.

Other Chase Ink cards have high offers of 50,000 points and the Sapphire Reserve offers a 50,000 point offer as well. So this is a significant increase from those offers.

With that said, there have been targeted offers that have gone out for 120,000 points after spending $5,000 in the first 3 months. Those were incredible offers but you pretty much just need a ton of luck to be on your side in order to receive one of those and only a small group of people received those.

Then there’s the 100K offer. This is an offer that has been available in-branch before but mostly to Business Relationship Manager (BRM) clients and only during certain times of the year (usually starting around March). BRM clients are business clients with high revenue around $1,000,000+.

I haven’t heard a lot about this recently so I wouldn’t get your hopes up for it.

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What can you do with 100,000 points?

Overall, I’d be very happy with the 100,000 point offer if that is all that I could find because that’s a lot of value. You could use those points in the Chase Travel Portal and redeem your points for $1,250 worth of travel or you could transfer them out to some of the transfer partners which are listed below.

These flexible redemption options make this one of the best travel credit card on the market!

Chase Ultimate Rewards Airlines

  • Aer Lingus
  • British Airways Executive Club
  • Emirates
  • Flying Blue (Air France/KLM)
  • Iberia Airways
  • JetBlue
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards
  • United MileagePlus
  • Virgin Atlantic Flying Club

Chase Ultimate Rewards Hotels

  • World of Hyatt
  • IHG Rewards Club
  • Marriott Bonvoy

You can use your Ultimate Rewards to experience some of the top business class and first class cabins in the world. Here are a few specific examples of what you could do with your points.

Related: 12 Best Chase Ultimate Rewards First Class Redemptions

United

If you’re trying to fly internationally, 65,000 miles could cover you for a roundtrip in economy to Europe for a Saver award or a one-way business class award. You’d also have enough miles for a roundtrip in economy to Asia or a one-way flight in business class on a partner like EVA (worth $3,300+).

Southwest

80,000 points transferred to Southwest could get you very far, especially if you have the Companion Pass. You could easily score a handful of roundtrips around the country if you jumped on the right Wanna Get Away fares.

Singapore

You could use Singapore miles to book two roundtrip business class tickets on United to anywhere in the domestic US or from the US to Canada (worth $1,500+).

Virgin Atlantic

After meeting the minimum spend, you’d only be 5,000 miles short of being able to redeem a roundtrip business class ticket on partner ANA from Japan to the western US (worth $5,000+)!

Hyatt

100,000 points transferred to Hyatt could get you at least 4 nights at a solid property like the Park Hyatt Bangkok, 3 nights at a category 6 property, and after meeting your minimum spend, you’d only be a few thousand points short of having 3 nights a top category 7 property like the Park Hyatt Milan (worth $2,700+).

Park Hyatt Bangkok.

Bonus earning

The Chase Ink Preferred earns 3 points per $1 on the first $150,000 spent in combined purchases in the following categories each account anniversary year:

  • Travel
  • Shipping purchases
  • Internet, cable and phone services
  • Advertising purchases with social media sites and search engines

Travel

Travel is broadly defined and allows you to earn triple the points on all sorts of purchases. The Chase Sapphire Reserve also earns 3X on travel but it comes with a much higher annual fee of $550 so this is a strong perk for a card with a $95 annual fee.

Shipping

If your business does a lot of shipping then this is a great way to capitalize on earnings. Other cards do offer bonus potential for spending on shipping though like the new Amex Business Gold Card.

That card allows you to earn 4X points on the 2 select categories where your business spends the most each month and it applies to the first $150,000 in combined purchases from these 2 categories each calendar year.

You can choose from the following:

  • Airfare purchased directly from airlines
  • U.S. purchases for advertising in select media 
    (online, TV, radio)
  • U.S. purchases made directly from select 
    technology providers of computer hardware, 
    software, and cloud solutions
  • U.S. purchases at gas stations
  • U.S. purchases at restaurants
  • U.S. purchases for shipping

The Amex Business Gold Card does come with a very high annual fee of $295, though, and it currently does not offer a standard welcome bonus of Membership Rewards.

Internet, cable and phone services

Getting 3X on internet, cable and phone services is certainly nice but there’s always the option of going with the Chase Ink Cash which offers 5X on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year.

So if you really want to capitalize on these categories and your spend is somewhere around that $25,000 range, you might really consider using the Chase Ink Cash to maximize those categories.

The Ink Cash also earns 2X on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. And the Ink Cash comes with no annual fee. 

Advertising

You’ll earn 3X on advertising purchases with social media sites and search engines which is great but again consider what you might be able to earn with the Amex Gold Business Card that offers 4X on those categories.

Everyday

For every purchase that does not fall into a bonus category you’ll earn 1X on that purchase. If you can do it, you might want to think about getting another card like the Chase Ink Unlimited or the Chase Freedom Unlimited since both of those cards earn 1.5X on all purchases with no limit.

Another contender might be the Amex Business Blue Plus which earns 2X on all purchases up to $50,000. That’s one of the best everyday spending cards though it is capped at that $50K mark.

Inside tip: The Chase Ink Preferred has coded as 3X for services like Plasiq and Venmo in the past so keep an eye out for that!

Earn 3X on travel with the Ink Preferred.

Can you use the Ink for personal use?

A lot of people wonder whether or not they can use their Chase Ink cards for personal spend.

The application states the following in the terms and conditions:

I certify, understand and agree that: 1) This is a business account which shall be used only for business purposes and not personal, family or household purposes;

So according to the terms this should be used for business purposes. However, if you’ve ever ran your own business or you’re an entrepreneur you know that it’s not always so black and white and personal and business expenses can overlap.

Also, the terms allow for primary rental car coverage while “renting outside your country of residence for personal reasons” so this seems contradictory.

Thus, I think that it’s perfectly fine to use your Ink card some expenses that could be considered “personal” and many people do this.

Just keep in mind that some consumer protections don’t apply when you use a business card so you could be losing out on some of those. Also, if you’ve structured your business entity to protect your personal assets, it’s always a good idea to keep your personal and business funds and transactions as segregated as possible. 

Cell phone protection

With the Ink Preferred, you’ll get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Chase Ink Business Preferred credit card. This is good for a maximum of 3 claims in a 12 month period with a $100 deductible per claim.

That $100 deductible cuts into the value of this benefit, especially because there are other (personal) cards that offer cell phone protection with a much smaller deductible. For example, Wells Fargo phone insurance is offered by certain credit cards and it will protect you up to $600 subject to only a $25 deductible.

Primary rental car coverage

This card is one of the few that offer primary rental car coverage.

This is huge because it means that you can avoid paying for rental car coverage when renting a car and save some money. But it also means that you can avoid filing a claim with your car insurance provider and avoid seeing an increase in your monthly premium. 

It is primary coverage while renting primarily for business purposes or when renting outside your country of residence for personal reasons or if you do not have automobile insurance.

You can read more about the rental car coverage here. 

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Annual fee

The annual fee is $95. In the past, some people have been able to use get the annual fee waived with in-branch offers so keep an eye out for those in the future.

Foreign transaction fees

This card has no foreign transaction fees.

Chase 5/24 rule

This card is subject to the Chase 5/24 rule which means that if you have been approved for 5 or more accounts in the past 24 months you won’t be able to get approved.

However, this card does not count towards your 5/24 status which means that you want to prioritize this card and make it one of the first Chase cards (or any cards) that you apply for.

Business needed

Some ask if they can get the Ink Preferred without a real business. Well, this is a business credit card so you will need a business to qualify.

The good news it that just about anything can constitute a business, including selling things on eBay, Craigslist, and doing things like tutoring, etc. If that’s the case, you would likely want to apply as a sole proprietorship.

Chase Ink Preferred Approval odds

You’re going to need a good to excellent credit score to get the Chase Ink Preferred. I’d prefer to have a score of 720+ with a solid few years of credit history to feel comfortable applying but there are a lot of factors at play with approval decisions so the exact score needed will differ with each situation.

Chase does like to see a good credit history so if your credit profile is very thin getting the Chase Ink Preferred could prove to be difficult to get.

Tip: If you don’t have a relationship with Chase you might consider opening up a Chase business account to start building that relationship.

It probably helps to have business income/revenue for your application but there are reports out there of people getting approved for Chase Ink Cards with very little business income at times (under $2,000 and even $0). Some will resort to a good-faith projection of their income for the upcoming year but you’ll have to decide with what you’re most comfortable with.

You also need to know how to handle a Chase business reconsideration phone call since that might be needed. Note the questions about revenue and profit that will likely come up.

Luxury Hotel & Resort Collection

The Luxury Hotel & Resort Collection is a network of over 900 luxury properties all around the world and it comes with the following elite-like benefits:

  • Daily breakfast for two
  • Complimentary Wifi
  • Room upgrade (based on availability)
  • Early check-in and late check-out (based on availability)
  • Special benefit at each property

This benefit is not advertised for the Chase Ink Preferred but I was able to get access to the program with my Chase Ink Preferred. If you like to stay at luxury properties this program can save you a lot of money with its benefits. To learn more about this program click here.

Travel and purchase protections

For a card with only a $95 annual fee, the travel and purchase protections on this card are fantastic.

Trip cancellation and interruption

If your trip is cancelled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $5,000 per trip for your pre-paid non-refundable travel expenses, including passenger fares, tours, and hotels.

This can be a life-saver when you’ve booked prepaid hotels or cruises or any type of tours and you’re forced to miss out on the trip due to something unexpected.

Trip delay

Covers you up to a maximum of $500.00 for each purchased ticket for reasonable expenses, on a one-time-basis, incurred if your Covered Trip is delayed by a Covered Hazard for more than 12 hours or requires an overnight stay.

Getting compensation for flight delays is never guaranteed and if the source of the delay is something like bad weather, you have very minimal chances of getting covered for things like lodging with most airlines. And even when you do get some benefits, it can often be for a hotel stay limited to about $100 per night and only a meal or two.

With this protection you can choose which hotels you want to stay at and have $500 to work with which is pretty generous.

Baggage delay

This covers you up to $100.00 per day for a maximum of five days and is limited to emergency purchases of essential items needed as a result of the delay including but not limited to: clothing, toiletries, and charging cables for cellular telephones.

Some Chase cards only provide coverage for three days so it’s great to get full coverage for up to five days with this card.

Purchase protection

Covers your new purchases for up to 120 days against damage or theft up to $10,000 per claim and $50,000 per account. Many cards limit this protection to only $500 or some other low amount so getting covered up to $10,000 per claim is pretty significant.

Extended warranty

Extends the time period of U.S. manufacturer’s warranty by an additional year, on eligible warranties of three years or less.

If you want to find out more about these protections, you can check out the benefits PDF.

YouTube

Final word

The Chase Ink Preferred stands out to me because of its high sign-up bonus, strong bonus earning categories, low annual fee, and solid protections. I think that it’s one of the best small business credit cards because of all of those reasons.

Chase Business Reconsideration Line (Tips if Denied, Phone Number) [2020]

If you’re denied or not instantly approved for a Chase business credit card, theres a good chance you’ll need to call the Chase business reconsideration line.

Chase recon calls for business credit cards can be much tougher than calls for personal cards. 

But don’t sweat it, this article will show you tips on exactly how to get through a Chase Business reconsideration line phone call and give you the phone number to call.

Update: Some offers are no longer available — click here for the latest deals!

What is the Chase business reconsideration line?

The Chase Business reconsideration line is your chance to get your business credit card application approved by showing Chase why you need or want the card and verifying facts about your business.

Chase business reconsideration line phone number

The Chase business reconsideration line phone number is: 1-800-453-9719.

The business hours are 8am to 5pm EST, M-F. EST. (Note: this is accurate as of March 22, 2016.)

You should be able to call this number for the following cards:

  • Chase Ink Preferred
  • Chase Ink Cash
  • Chase Ink Unlimited
  • United MileagePlus Club Business Card
  • United MileagePlus Explorer Business Card
  • Marriott Rewards Premier Business Credit Card
  • Southwest business credit card 

Tip: Check out the free app WalletFlo so that you can optimize your credit card spend by seeing the best card to use! You can also track credits, annual fees, and get notifications when you’re eligible for the best cards!

Should you call?

The general consensus is to not call for the business reconsideration line until you have been denied. There are a few reasons for not calling in….

The thinking is that you’re removing your application from a pool of applications that could be auto approved and potentially allowing the discretion of a banker to determine your credit card fate.

Bank discretion can become a big problem if you have a lot of accounts recently opened, hard inquiries, or any other potentially damaging factors on your credit report, so many like to avoid recon until they’re forced to face it.

Another reason is that a lot of people just aren’t good with answering questions on the fly and might screw up their chances by saying something stupid or something that the bank rep (whether rightly or wrongly) finds suspect.

And finally, the numbers just seem to be against you. I’ve done a fair amount of research (although not exactly scientific in nature) and from what I’ve gathered, calling in appears to not do you any favors in getting approved.

All of the above are legitimate reasons to avoid calling and that’s why my recommendation is to not call reconsideration until you have been denied. At that point, you have nothing to lose and there’s no harm in calling.

What to expect when you call

Every time I’ve called business recon I’ve been greeted almost instantly by a live representative. I give them my social security number and then they look up my file and ask what they can do for me.

I always remain as friendly as possible and just tell them that I want to “inquire into the status of my recent credit card application.”

After some verification questions, they’ll usually put you on hold for a while and then come back, ready to look over your app.

At this point, they may only ask you a few quick questions about your business or they might go into extreme specifics — I’ve encountered both ends of the spectrum with my prior dealings with Chase. Because you don’t know how they are going to come out for you, it’s important to make sure that you’re ready for them.

So here are some things you really need to know.

Know your business

This should be easy for you assuming you’re not trying to game the system with a “business.”

In my first recon call, I was only asked about the name and age of my business but in the second recon call they went in depth about the nature of my business and what in particular I do, sell, etc. It was much more difficult than the first recon call but still not entirely daunting.

They asked such questions as:

  • What is your business? (name, legal name, type of organization, etc.)
  • Can you describe your industry?
  • What products do you sale, how much, etc.?
  • How old is your business?
  • How long have you been in the trade?
  • What is your job title?
  • Number of employees?
  • Why does your business need this credit card?

I had a memorized one sentence description of my business that I spit out and then just starting to go into detail about what it is I do. All of the business reps I’ve dealt with have been nice but I’ve heard reports of some reps being a bit aggressive and approaching the call like an interrogation.

Know your business figures

This is the portion of the call that most people stumble on because if you’re not prepared for it, then it’s easy to say something contradictory or something that doesn’t sound right.

Remember, these bankers deal with applications all day long and it wouldn’t surprise me if some of them have developed an intuition for identifying applicants who are trying to game the system with their “eMerchandise business” (aka “I sold a watch on eBay two years ago”).

Have figures/charts ready to answer the following questions:

  • What is your annual revenue, expenses, and profits?
  • Did you pay taxes on that revenue?
  • What were your annual revenue, expenses, and profits for the previous year? Year before that?
  • Are you currently operating at a profit or loss?
  • What is your expected revenue, expenses, profits for the next year? The year after?
  • Why do you suspect they will increase or decrease?

Sound like you know what you’re talking about

I think one key to the reconsideration calls is that you need to sound confident.

A true business owner should know his or her business like the back of his or her hand and shouldn’t be stumbling around with basic questions. It really helps to have a cheat sheet on hand when you make the call so you can just spit out the answers needed.

In my experience, the above questions were all that were covered. However, don’t be surprised if they start getting into your recent account history. Chase seems to be doing this more and more with both personal and business cards. So be prepared for some potentially intrusive questioning about why you have so many new accounts.

Verifying identity

Verifying your ID for a business card typically involves standard procedures like faxing in a copy of your license or submitting some form of notarized document from a financial institution.

However, in some (I believe rare cases), you might have to submit tax forms and/or business filing documents relating to your business. Hopefully that won’t happen to you but if you’ve done nothing but told the truth you should have nothing to worry about.

If you’re denied

It’s always a good idea to call back and try at least once or twice with a different representative.

Keep in mind that they notate your account when you call back so the reps will likely know that you’ve called once, twice, or more than that, which may affect their attitude towards you. If calling back doesn’t work then you may just have to try again 3 to 6 months down the road.

That’s it for Chase business recon. Just be prepared with a cheat sheet for the above questions and you should be just fine. Oh, and if you’re interested in the Chase Ink+ check out my tips on how to get approved

How to Get The Chase Ink Preferred 100K Offer (In-Branch, Matches) [2019]

The Chase Ink Preferred 100k offer is one of the hottest credit card offers up there with the elusive Sapphire Reserve 100K offer.

But where can you find this offer? 

There are a couple of ways you might be able to get your hands on the 100K offer. These usually involve applying in-branch and establishing relationships with Chase Business Relationship Managers.

In this article I’l show you a couple of different routes you could take, and I’ll also touch on other things like matches and referrals. 

Interested in finding out the top travel credit cards for this month? Click here to check them out! 

How to get the Chase Ink Preferred 100k offer

The Chase Ink Preferred comes with a special offer from time to time where you can earn 100K Ultimate Rewards after you spend $5,000 on purchases in the first 3 months after account opening.

But this is not the standard public offer.

Instead, this is an offer that only goes out on a limited basis and has only been available for select customers. In addition, the 100,000 Ink Preferred offer is not available online and you’ll need to head to a Chase branch to get it (when available).

There have also been targeted mailers out there for 120,000 points that others have received as well.

I’ll show you a couple of ways to get the 100K offer below but first a quick refresher on the Ink Preferred.

The Chase Ink Preferred

The Ink Preferred comes with one of the most valuable sign-up bonuses at 80,000 Ultimate Rewards after spending $5,000 in the first 3 months! At a valuation of 2 cents per point, that’s $1,600 worth of rewards. Even if you only redeemed these for a statement credit, that’s still an $800 rebate! 

The Ink Preferred earns 3X on the first $150,000 spent in combined purchases on:

  • Travel
  • Shipping purchases
  • Internet, cable and phone services
  • Advertising purchases with social media sites and search engines

Earning 3X on all of those categories has potential for tons of value, especially with such a high bonus spending cap. It also comes with great perks like primary rental car coverage when traveling on business and a unique cell phone protection benefit.

The Chase Ink Preferred also allows you to transfer your points out to several transfer partners including:

Chase Ultimate Rewards Airlines

  • Aer Lingus
  • British Airways Executive Club
  • Flying Blue (Air France/KLM)
  • Iberia Airways
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards
  • United MileagePlus
  • Virgin Atlantic Flying Club

Chase Ultimate Rewards Hotels

  • World of Hyatt
  • IHG Rewards Club
  • Marriott Rewards
  • The Ritz-Carlton Rewards

While the 80K offer is very high, many people get their sights set on the 100K offer so this is how you might be able to get it.

Tip: Don’t miss out on my #1 rated travel card. The Chase Sapphire Preferred is now offering a new high offer of 60,000 points (worth $750 in travel) after spending $4,000 in the first three months after account opening! Click here for the full review!

The BRM route

One of the only ways to find the 100K offer for the Chase Ink Business Preferred card is to try out the BRM route.

Chase Business Relationship Manager (BRM)

At certain times in the year (usually March to August), it’s possible to submit a paper application through a Chase Business Relationship Manager (BRM) and get access to increased offers for business credit cards.

One of these increased offers in the past has been the 100K offer for the Ink Preferred and another offer has been the 50K offer for the Chase Ink Cash.

(This is similar to how Chase Private Client members are given access to increased offers like the 60,000 point offer for the Chase Sapphire Reserve.)

So how do you submit an application with a BRM?

You’ll need to walk into a Chase branch and establish a relationship with a Chase Business Relationship Manager.

This means that you’ll probably need to set up a business bank account with Chase if you don’t already have one.

Setting up a Chase business account

Chase business bank accounts are pretty easy to set up but you’ll need to bring in your documents needed to show the existence of your business such as LLC filings, DBA filings, etc. It’s also a good idea to have a breakdown of the figures for your business when you walk in to open up an account.

I’ve seen data points here and there where people did not even open up a business bank account but still were able to get their apps processed through a Chase Business Relationship Manager, so you won’t always have to open up a business account.

If I were trying to get this offer though, I’d count on opening up a business account to increase my chances.

Finding a Chase Business Relationship Manager

Not every branch has a Chase Business Relationship Manager so you might need to call around to different branches to see where you can find one.

But note, if you’re already a Business Managed Client, you should be able to walk into about any branch and apply as a Business Managed Client.

Revenue requirement

The biggest hurdle for establishing a relationship with a Chase Business Relationship Manager is that you might to need to show a substantial amount of revenue, such as $500,000 or even more than that. (Some state that the revenue range is $1 million to $20 million.)

This seems to be backed up by the job description of a BRM:

At JP Morgan Chase, we have an obsession for helping our clients, taking care of our employees, a strong commitment to diversity and inclusion, building relationships, and delivering extraordinary customer service. Our Business Banking segment serves the banking needs of businesses with $1 million to $20 million in revenue.

Getting around the revenue requirement

The good news is that you don’t always have to make this showing of massive business revenue.

Some people have been able to process their application via a Business Relationship Manager even though they were not an official Business Managed Client. As long as a Business Relationship Manager launches the application, then you should be in the clear. 

Moreover, you might even be able to persuade a BRM to process your application over the phone.

Unfortunately, there are not a lot of data points on getting around this exception so it’s a bit difficult to predict what type of success you might have if you were to go this route.

Small business week

The Chase Ink Preferred 100K offer has gone out during small business week which is usually at the end of April and beginning of May.

The small business week offer has only been available to BRM clients though it never hurts to give it a shot even if you’re not BRM.

Will Chase match to the Chase Ink 100K offer?

Chase is generally pretty good about matching offers within 90 days of higher offers going out.

But there’s an exception when the higher offer is limited to certain people and not publicly available.

So if you were approved for the 80K offer after applying online and then requested to be matched to the 100K offer, I would not expect that match to be honored. 

But if you applied in-branch or better yet with a BRM for the lower 80K offer, then I think you’d have a shot at getting the 100K offer.

Still, it never hurts to request a match and some have had luck with getting matched, so you might as well give it a try.

Waived annual fee in-branch?

Chase will sometimes waive the first year annual fee when you apply for the Chase Ink Preferred in-branch. I don’t think they usually waive the fee for the 100K offer, however.

If I had the choice between an 80K bonus with no annual fee and a 100K offer with an annual fee I would take the 100K offer since I value 20,000 Ultimate Rewards way more than $95.  

Chase Refer a Friend (link)

If you already have been approved for the Chase Ink Preferred you’ll be happy to know that you can earn up to 100,000 points per year via your referral links.

You’ll need to generate referral links and then send them out to friends and family. For every person that is approved, you’ll receive 20,000 points up to 100,000 points per year.

You can try to generate a business referral link here. 

You can read more about how this referral program works here. 

Note: There was a glitch with Business Ink referrals that allowed people to earn 100K bonuses but as far as I know that glitch was resolved.

Chase 5/24 rule

The Chase Ink Preferred is subject to the Chase 5/24 Rule, which means that if you’ve opened five or more accounts over the past two years, you will not be approved.

A known exception to this is if you apply for the card through a BRM.

You might want to read up on many of the other Chase application rules before you apply, too — you can read more on these here

When will the Chase Ink 100K Offer return?

In 2017, this offer for BRM clients stayed around for over five months from March through August. In 2018, the offer for BRM clients stayed around from March through August again.

So if you’re trying to go with the BRM route then I think that you should think about trying this in March. But keep in mind that both years the offer was extended out to August, so it might not always be extended out that far.

Final word

The Ink Business Preferred 100K point offer is not an easy offer to get unless you’re an official Business Managed Client. In that case, you can probably wait around for small business week or just wait until the offers roll back around for BRM clients.

Otherwise, you might have to visit some Chase branches and call around until you can find a BRM who is willing to process your application and give you a shot.

Chase Ink Rental Car Insurance Explained (Preferred, Cash, Unlimited) [2019]

The Chase Ink cards include the impressive line-up of the: Ink Business Preferred, Ink Cash, and and Ink Unlimited. All three of these cards offer extremely valuable rental car coverage. However, there are some limitations and restrictions for this coverage that you need to be aware of.

This article will explain everything you need to know about Chase Ink rental car insurance including important exclusions and will also show you how to file a claim.

Interested in finding out the top travel credit cards for this month? Click here to check them out! 

Chase Ink cards

Before getting into the nitty-gritty of the rental car coverage, here’s a breakdown of the main benefits of each of the Chase Ink cards.

Chase Ink Preferred

The Chase Ink Preferred has a high sign-up bonus of 80,000 points after you spend $5,000 in the first three months. The card also earns 3X per $1 on the first $150,000 spent in combined purchases on all of the following categories:

  • Travel, including airfare, hotels, rental cars, train tickets and taxis
  • Shipping purchases
  • Advertising purchases made with social media sites and search engines
  • Internet, cable and phone services

With its high sign-up bonus of 80,000 points and solid bonus categories, this is the #1 business card offered by Chase and I would be looking to get the Chase Ink Preferred first and then add one of the cards below.

Chase Ink Cash

The Chase Ink Cash comes with a great sign-up bonus of 50,000 Ultimate Rewards after you spend $3,000 in the first three months along with a 0% APR period. That’s worth at least $500 which is very competitive for a no annual fee credit card but the card also has some fantastic bonus categories.

The Chase Ink Cash earns 5% cash back on the first $25,000 spent in combined purchases each account anniversary year at:

  • Internet
  • Cable
  • Phone services
  • Office supply stores

And it also earns 2% cash back on the first $25,000 spent in combined purchases each year at:

  • Gas stations
  • Restaurants

The Ink Business Unlimited

Ink Business Unlimited

The Ink Business Unlimited earns 1.5% back on all purchases and comes with a $500 sign-up bonus after you spend $3,000 in the first three months. It also has no annual fee and comes with  a 0% intro APR for 12 months from account opening on purchases and balance transfers.

Chase Ink Plus

The Chase Ink Plus is no longer available for new applicants.

Chase Ink rental car insurance policy

The Chase Ink cards come with primary rental car coverage while renting for business purposes or when renting for personal reasons outside your country of residence. Coverage is secondary and supplements any valid and collectible insurance when renting for personal reasons inside your country of residence, or if you do not have automobile insurance.

The big thing to note is that if you are traveling inside the US, you’ll need to be traveling on business for the benefits to kick in but if you’re traveling abroad, you’ll be able to get coverage.

This is the major distinguishing factor for the Ink cards versus the personal Chase cards like the Sapphire Reserve and Sapphire Preferred. Those cards offer primary rental car coverage for personal travel regardless of where you’re renting your vehicle.

Other cards like the Chase Freedom and Chase Slate will also provide rental car coverage regardless of where you travel but those cards do not offer primary rental car coverage.

Why this coverage is special

Getting primary rental car coverage is special because it means you do not have to file a claim with any other source of insurance before you can receive coverage.

This means that you can usually avoid dealing with your auto insurance company and won’t have to worry about your premiums rising or potentially paying fees associated with the claim.

Primary rental car coverage is also special because the Chase Ink Unlimited and the Chase Ink Cash both have no annual fees. It’s extremely rare for a card to offer primary rental car coverage and not force you to cough up an annual fee.

Consider that the Business Platinum Card from American Express doesn’t even offer primary rental car coverage and it comes with a hefty $450 annual fee. If you do a lot of traveling that requires rental cars, you’ll be able to get out ahead big time with a card like the Chase Ink Cash.

How to get coverage

It’s very important that you pay attention to the requirements for getting rental car coverage with the Ink cards.

Here are two things you must do to get coverage. 

Use your Ink card

You need to initiate and complete the entire rental transaction using your Chase Ink card — don’t split up your payments with other cards if you want to use this perk.

Decline the rental company coverage

When you go to check out your rental car, you’ll need to decline the rental company’s collision damage waiver or similar provision if it is offered to you.

Rental car companies may refer to the collision damage waiver as CDW or LDW in their contract or when speaking with you so be on alert. Sometimes they can be quite pushy when trying to get you to sign up for their policies.

But resist the temptation because if you accept the collision damage waiver offered by the rental company, you will not be eligible for Auto Rental CDW.

Who is covered by the policy?

You as the cardholder of the Ink card will be covered as the primary renter of the vehicle and any additional drivers permitted to operate it under the terms of the rental agreement are also covered. Basically, if their names are on the contract as additional drivers then they will be covered as well.

Where does the coverage apply?

The benefit is available in the United States and most foreign countries. If you want assurance that you’ll be covered then simply call the rental car company and inquire about the benefit.

Let them know that you have a card that offers primary rental car coverage and that you would like to use that for your rental and tell them that you’d like to verify that your coverage applies.

What is covered

Coverage time limits

The CDW coverage only covers vehicle rental periods that do not exceed or are not intended to exceed 31  consecutive days within or outside of your country of residence.

It’s a little unclear what a rental that did not intend to exceed 31 days would look like but my guess is it would involve some sort of weather or logistical mishap that prevented you from returning the vehicle within the required time.

Covered losses

The Chase Ink rental car coverage will cover you for;

  • Physical damage and/or theft of the covered rental vehicle
  • Valid loss-of-use charges assessed by the rental company while the damaged vehicle is being repaired and is not available for use, as substantiated in the company’s fleet utilization log
  • Reasonable and customary towing charges related to a covered loss to take the vehicle to the nearest qualified repair facility.

Excluded vehicles

The Ink cards will not provide coverage for: expensive, exotic, and antique automobiles; certain vans; vehicles that have an open cargo bed; trucks; motorcycles, mopeds, and motorbikes; limousines; and recreational vehicles.

Expensive or exotic automobiles could include the following brands:

  • Alfa Romeo
  • Aston Martin
  • Bentley
  • Corvette
  • Ferrari
  • Jaguar
  • Lamborghini
  • Lotus
  • Maserati
  • Maybach
  • McLaren
  • Porsche
  • Rolls Royce
  • Tesla.

*However, selected models of Audi, BMW, Mercedes-Benz, Cadillac, Infiniti, Land Rover, Lexus, Lincoln, and Range Rover are covered.

An antique automobile is defined as any vehicle over 20 years old or any vehicle that has not been manufactured for 10 years or more. Also, the coverage only applies to those vans manufactured and designed to transport a maximum of 8 people and which are used exclusively to transport people.

Luxury vehicles are excluded.

Not liability insurance!

The Chase Ink cards provide a collision damage waiver (CDW) which isn’t the same as car insurance. Collision damage waiver just means you won’t be responsible for the damage done to your rental vehicle. If you were to get into an accident and damaged another vehicle or caused injuries to passengers, the collision damage waiver would NOT cover you in those instances, since that has to do with liability insurance.

How to file a claim

Call the Benefit Administrator immediately to report theft or damage, regardless of whether your liability has been established.  You must report the incident no later than 60 days following the date of the theft or damage. If the claim is reported after this time frame, your claim may be denied.

To report a claim you can call the Chase Benefits phone number at: 1-888-320-9656 or 1-888-320-9956. 

Gather your documents

Once you call, you’ll have to submit documents to substantiate your claim. Here are some of the documents you’ll need to submit. Note that the required documents are different from the personal cards since they require you to show that you were traveling on business.

Auto Rental Collision Damage Waiver Claim Form

The completed and signed Auto Rental Collision Damage Waiver Claim Form: Your completed claim form must be postmarked within 100 days of the date of theft or damage, even if all other required documentation is not yet available. If your claim form is not postmarked within this time frame, your claim may be denied.

Billing statement

A copy of your receipt or monthly billing statement showing that the entire vehicle rental was charged to and paid for with your eligible card.

Employer confirmation

A written confirmation from your employer that the rental was primarily for business purposes.

Personal use proof

If the rental was for personal use, enclose a statement from your insurance carrier showing the costs for which you are responsible and any amounts that have been paid toward the claim. Or, if you have no applicable insurance, please provide a notarized statement to that effect.

Statement from your insurance carrier

A copy of the declaration page from your primary automobile insurance carrier if the rental was for personal use.

Rental car company documents

You should also ask the rental company for these documents immediately at the time of the theft or damage or when you return the vehicle to the company:

  • A copy of the Accident Report Form and claim document: this should indicate the costs you are responsible for and any amounts that have been paid toward the claim.
  • A copy of the entire auto rental agreement(s)
  • A copy of the repair estimate or itemized repair bill
  • 2 photographs of the damaged vehicle, if available
  • A police report, if obtainable
  • Any other documentation deemed necessary, in the Benefit Administrator’s sole discretion, to substantiate the claim

Be prepared to have to fight a little to get the required documents. I’ve had some nightmare experiences dealing with companies like Avis and it’s been like pulling teeth to get them to respond to calls, emails, etc.

How long will it take to receive payments for coverage?

Generally, the claim will be paid within 15 days after the Auto Rental CDW Benefit Administrator has received all documentation needed to fully substantiate your claim.

Final word

The Chase Ink cards offer great value all around but the primary rental car coverage is certainly one of the more valuable perks, especially when it comes to the no annual fee cards like the Chase Ink Cash and Chase Ink Unlimited. Make sure you pat attention to the distinctions between business and personal use and some of the other limitations, and you’ll be able to take a lot of value from this benefit.

Thinking About Going for the Ink Preferred? Read This First

Update: Some offers are no longer available — click here for the latest deals!

Chase is on a roll right now when it comes to offering great sign-up bonuses and is really bringing the heat to its competitors like Amex. The Ink Plus 70K offer has been out for quite some time, the Chase Sapphire Reserve 100K was introduced this summer, and now the Ink Preferred is on its way out with an 80K sign-up offer. Here are some things to think about if you’re planning on applying for this card.

The Ink Preferred is like a remixed version of the Ink Plus geared toward different business expenses and with a better sign-up bonus. It should be available to apply for in mid-November 2016. Keep in mind that the Ink Plus is going away for new applicants, although existing cardholders will be able to still hold on to their Ink Plus cards indefinitely. 

Sign up bonus

  • 80,000 Ultimate Rewards sign-up bonus after you spend $5,000 within 3 months of opening your account.

This is a step above the 70K in-branch offer for the Ink Plus. 80,000 Ultimate Rewards is very valuable and one of the best sign-up bonuses ever offered by any Chase Ultimate Rewards earning cards. I don’t know how long the offer will be around or if it will eventually be reduced but I would jump on it as quickly as possible if I wanted the card. 

Bonus categories

Ink Preferred will earn 3X the points on every dollar spent up to $150,000 on the following categories:

  • Travel
  • Advertising with social media and search engines
  • Shipping
  • Cable, internet, and phone services

The 3X on travel and advertising is ideal for digital nomads who are often on the go and who likely spend a lot on advertising online. Also, the cap of $150,000 is a big step up from prior caps on bonus spending so that’s another major positive to the Ink Preferred.

This is contrast to what the Ink Plus and Ink Cash offer: 

Ink Plus 

Ink Plus offers 5X up to $50,000 spent on 

  • Cable, internet, and phone services
  • Office Supplies Stores

And 2X up to $50,000 spent on 

  • Hotels and gas 

Ink Cash 

Ink Cash offers 5X up to $25,000 spent on 

  • Cable, internet, and phone services
  • Office Supplies Stores

And 2X up to $25,000 spent on 

  • Restaurants and gas 

Obviously what card is best for you and your business will depend on your spending habits. I could definitely see how arguments could me made for each card. Ultimately, I think a great combination would be the Ink Cash and the Ink Preferred, since the Cash does not have an annual fee and you’d be able to combine the 5X earnings of the Ink Cash with the 3X earnings of the Ink Preferred. 

I think the Ink Preferred is a direct shot taken at the American Express Business Gold Rewards Card. That card offers you the option of choosing one category to earn 3X on, while allowing you to earn 2X on the remaining categories. The categories for the Business Gold Rewards Card are: 

  • Airfare purchased directly from airlines
  • U.S. purchases for advertising in select media
  • U.S. purchases at gas stations
  • U.S. purchases for shipping
  • U.S. computer hardware, software, and cloud computing purchases made directly from select providers

It also comes with a 50,000 Membership Rewards bonus after spending $5,000 (although other targeted offers quite often appear) and a $175 annual fee (waived the first year). Again, which card is best for you will depend on your spending habits but I’d probably take the Ink Preferred since it would offer me 3X on more categories. 

Annual Fee

  • $95 but waived when applying in-branch.

Cell phone benefit

5/24

There’s no doubt in my mind that the Chase 5/24 rule will be imposed on this card, so if you’ve opened up 5 or more credit cards in the past 24 months you’ll likely be denied, subject to certain exceptions.

There’s also the added hurdle of getting approved for 2 Chase business cards that many report. Personally, I had no problem getting two Chase business credit cards and I know of some who have gotten 3 business cards, but others seem to have had issues getting approved for more than one. So if you already have the Ink Plus or Cash, you might run into some trouble trying to get approved.

Increase your odds of approval

If you’re thinking about applying for the Chase Ink Preferred, then I suggest reading up on my tips for getting approved for the Chase Ink Plus. The same logic and tidbits should apply for the Preferred. I can’t promise those tips will lead to an approval but I don’t think it can hurt to give them a try. In addition, because so many Chase business credit card applications go to reconsideration, I suggest you read up on my article on what to expect in a Chase business reconsideration call.

Final word

Overall, I’m very excited about this card as the bonus categories fit with my business expenses much more closely than the Ink Plus. Although I already get 3X on travel with the Sapphire Reserve, the 3X on advertising will likely net me more than the Ink Plus’ 5X categories. Since 5/24 will likely exclude me, I’ll probably have to product change to the Preferred but if it means earning more through bonus category spending that’s okay with me.