This is the best offer that’s been available for this card in a long time.

The typical offer for a Chase Ink Business Preferred has required $15,000 in spending in the first three months after approval in order to earn the 100,000-point welcome bonus. But now Chase has lowered the spending requirement to a much more feasible $8,000 in the first three months. That’s less than $3,000 in spending per month, which is probably within reach for more of us. Anyone who avoided applying for this card because of the $15,000 requirement is probably a LOT more interested now, and with good reason.

Here are the main benefits of this card, broken down.

• 100,000 Ultimate Rewards points once you meet the spending requirement. This alone is fantastic, because we all know how versatile and valuable Ultimate Rewards points are. That could get you five or six nights in a luxury Hyatt property, or two round-trip tickets to Europe, or a bunch of Southwest flight segments, or so many more options! The Ink Business Preferred allows you to transfer your points to a bunch of different airlines and hotel programs, and if you take advantage of the transfers that give you the most bang for your buck, you could get a huge value out of these points. Or if you don’t want to deal with transferring your Ultimate Rewards points to a travel partner, you can redeem them in the Chase Travel Portal for $1,250 in free travel.
• A low annual fee of $95. Would you pay $95 to get at least $1,250 in free travel? Yes, please.
• 3 points per dollar spent on travel, internet, cable, phone, shipping, and social-media advertising. Set up those bills to be paid with your Ink Preferred and earn three times as many points as you would with a regular credit card.
• No foreign-transaction fees.
• Primary rental-car collision waiver.
• Trip-cancellation and interruption insurance.
• Cell-phone protection.
• Purchase protection.

And a “benefit” of getting this card is that because it’s a business card, it won’t count against your 5/24 status with Chase, which is a huge factor that can determine whether you’ll be approved for a card with that bank. If you’ve gotten 5 or more cards within the last 24 months, Chase usually won’t approve you for a new card. But they don’t count most business cards as one of your five, so it can be helpful to strategically time your business-card and personal-card applications to help keep you in a good 5/24 status, if you’re eligible to apply for business cards. (And you probably are. Everybody has some kind of side hustle these days, right?)

Another plus about this card is that you can apply for one for each business you own. So for example, if you’ve gotten the Ink Preferred before and used your SSN to apply as a sole proprietorship, but you also have an LLC, you can get a second Ink Preferred applying using your LLC’s EIN.

I’ve had one of these cards for years and think this offer is absolutely worth applying for. Especially now that the spending requirement is so much lower.

After meeting your spending requirement, you’ll have at least 108,000 Ultimate Rewards points to use. What are you dreaming about using them for?

Note: There are similar-sounding Ink Business cards to be aware of. The card I’m discussing in this post is the Ink Business Preferred. There’s also a card that’s the Ink Business Premier. The Premier is not the same thing and does not give the same benefits, so if you want to apply for this great offer, make sure you’re applying for the Preferred!