Chip Lupo, Credit Card Writer
@CLoop
The Chase Ink Preferred annual fee is $95. This card’s annual fee is higher than the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the Ink Business Preferred® Credit Card, either.
Chase Ink Preferred Fees
- Annual Fee: $95
- Cash Advance Fee: Either $15 or 5% of the amount of each transaction, whichever is greater.
- Foreign Transaction Fee: $0
- Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
Keep in mind that an annual fee is a common charge with high-tier rewards cards. This card offers 100,000 points for spending $8,000 in the first 3 months. Plus, you can earn 3 points per $1 on the first $150,000 spent per year on travel and select business expenses, and 1 point per $1 on all other purchases. So, Chase charges an annual fee for this card to help offset the cost of these perks.
People also ask
Does Chase have a credit card with no annual fee?
There are several Chase credit cards that have no annual fee. Some of them also offer good sign-up bonuses, as well as rewards. Others have 0% introductory APRs.
One of the best Chase credit cards with a $0 annual fee is Chase Freedom Unlimited®. This card offers 1.5 - 5% cash back. Plus, it comes with an intro APR of 0% for 15 months on both purchases and balance transfers. The card’s regular APR is 18.49% - 27.99% (V). Most no annual fee Chase credit cards require...
read full answer by Lawrence, Wallethub Credit Card AnalystWhy do credit cards have annual fees?
Credit cards have annual fees to help cover the cost of rewards programs, benefits like travel insurance, and account services such as billing and customer support. Annual fees also help credit card companies profit more, especially on cards that people don’t use much. Similarly, in the case of credit cards for people with limited or bad credit, annual fees help credit card companies reduce the risk of lending to unproven borrowers.
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read full answer by WalletHub, Financial CompanyWhen are credit cards with annual fees worth it?
Credit cards with annual fees are worth it when they offer rewards and perks that save you more money than you pay in fees. Having a card with an annual fee is an especially wise move when it will save you more than the best offer without an annual fee. When that stops being true, you can close the account.
You can also use your credit score to help you decide. If you’re new...
read full answer by WalletHub, Financial CompanyDid we answer your question?
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