A credit balance refund on the Ink Business Preferred® Credit Card is a reimbursement for paying more than the total balance owed on the credit card. For example, a cardholder who has a balance of $500, but pays $600, can get a credit balance refund of the $100 that they overpaid.
Cardholders can request a Chase Ink Preferred credit balance refund: by phone (1-800-432-3117) or by sending a written request to Chase Card Services | P.O. Box 15298 | Wilmington, DE 19850. They can get their refund in the form of a check or an ACH refund credit to the bank account from which the payment was originally taken. Legally, a credit card issuer is obligated to issue a credit balance refund within seven business days of your request for one.
Please note that you are not required to request a credit balance refund if you overpay your Chase Ink Preferred credit card. If you have a negative balance on your account, meaning you’ve paid more than you owe, future purchases will be credited until the balance is back to zero. If you maintain a negative credit balance for six months, Chase is required to offer you a refund.
The Chase Ink Preferred annual fee is $95 per year. Chase Ink Preferred’s $95 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.… read full answer
Foreign Fee: $0
Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
No, the Chase Ink Preferred Card does not have a 0% APR intro period for new purchases. If you’re planning on making a large upcoming purchase and you don’t anticipate paying off the balance for a few months, the Chase Ink Preferred Card is not a great credit card to use.
You cannot get the Chase Ink Preferred 120k bonus offer, as it is no longer available. However, this card’s current bonus is far from shabby. Cardholders can earn a bonus of 100,000 points for spending $15,000 in the first 3 months.
The spending requirement is very doable for large businesses but could potentially be harder for sole proprietors with very small businesses. Earning the bonus will offset the card’s $95 annual fee for years. So, it’s well worth your while to get Chase Ink Preferred if you have the spending capability to earn the bonus. Plus, all points earned on the card are worth 25% more when spent toward travel through … read full answerChase Ultimate Rewards. That means the bonus could net you several free flights or hotel nights.
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