The top Chase Ink Preferred benefits are cell phone insurance, purchase protection for eligible items bought with the card, and extended warranties on purchases. There are also travel protections such as insurance for car rentals and trip cancellations.
Best Chase Ink Preferred Benefits
Up to $1,800 in cell phone protection per year: Covers you and employees on your phone bill for theft and damage, up to $600 per claim with a $100 deductible for each (max 3 claims per year).
Up to $50,000 in purchase protection per year: Coverage up to $10,000 per eligible item for damage or theft within 120 days of purchase. Items must be bought with the card.
1-year extended warranty: Applies to items purchased with the card that have an existing manufacturer’s warranty of 3 years or fewer.
Rental car insurance: Reimburses up to the cash value of the vehicle for physical damage, theft, towing and loss of use charges. Must decline the rental agency’s own policy and pay for the entire rental with the card or points.
$5,000 in trip cancellation/interruption insurance: Covers pre-paid travel expenses such as airfare or hotels when a trip paid for with the card is canceled or cut short because of illness, severe weather or another covered condition.
In the past, Chase Ink Preferred has offered $500 in trip delay insurance, $3,000 in lost luggage insurance, $500 in baggage delay insurance, and $500,000 in travel accident insurance, too. However, it’s not clear if any of these benefits are still available on the card.
In addition to Chase Ink Preferred’s benefits, cardholders also get plenty of rewards, including an initial bonus of 100,000 points for spending $15,000 in the first 3 months. The Chase Ink Business Preferred card has an annual fee of $95, but it offers more than enough benefits to make up for it.