The Chase Ink Business Premier Card is designed for high-spending businesses that want to earn unlimited cash back rewards on their purchases. With lucrative earning rates, a big welcome bonus, and premium travel and purchase protections, this card packs a punch for the $195 annual fee.
However, the cash back rewards structure is a bit unique compared to other Chase cards, so it’s important to understand how it works and whether it aligns with your business spending patterns. In this in-depth review, we’ll break down all the key details so you can decide if the Ink Business Premier is the right cash back card for your business.
Chase Ink Business Premier Card Overview
Welcome Bonus Worth $1,000 Cash Back
One of the biggest draws of the Ink Business Premier is the opportunity to earn a $1,000 cash back bonus after you spend $10,000 on purchases in the first 3 months from account opening. This is one of the most lucrative welcome offers available on any business credit card.
While the $10,000 spending requirement may seem high, it should be reasonable for businesses with large monthly expenses. Even if you can’t meet the full requirement, you’ll still earn cash back at the card’s high regular earning rates.
Unlimited Cash Back Earning Rates
The Chase Ink Business Premier earns cash back in the following categories:
- 5% Cash Back on travel purchases made through the Chase Travel portal
- 2.5% Cash Back on purchases of $5,000 or more
- 2% Cash Back on all other purchases
There’s no limit to how much cash back you can earn across these categories, which is great for businesses with high annual spend. The 2.5% rate on purchases over $5,000 is particularly lucrative for big-ticket items your business may need.
One important distinction is that the “cash back” you earn on this card is actually Chase Ultimate Rewards points worth 1 cent each when redeemed for cash back. But we’ll explain the redemption process in more detail later.
No Foreign Transaction Fees
If your business requires travel or purchases abroad, you’ll appreciate that the Ink Business Premier has no foreign transaction fees. This can save you around 3% compared to cards with these fees.
Travel and Purchase Benefits
Despite being marketed as a cash back card, the Ink Business Premier also includes some travel and purchase protections that add value:
- Trip Cancellation/Trip Interruption Insurance: Get reimbursed up to $5,000 per trip for pre-paid, non-refundable travel expenses if your trip is cut short or canceled due to covered situations.
- Auto Rental Collision Damage Waiver: Receive primary coverage for theft and collision when you pay for the rental car with your Ink Business Premier Card and decline the rental company’s own insurance.
- Cell Phone Protection: Pay your monthly cell phone bill with the Ink Business Premier and you’re covered for up to $1,000 per claim if your phone is stolen or damaged, for a maximum of 3 claims per 12-month period (subject to a $100 deductible per claim).
- Purchase Protection: Eligible new purchases are covered for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account.
- Extended Warranty Protection: The Ink Business Premier extends the manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
These protections provide valuable coverage for business owners who travel frequently or make expensive equipment purchases.
Flexible Spending with “Flex for Business”
One unique aspect of the Ink Business Premier is that it functions similarly to a charge card for businesses. You don’t get a preset spending limit, but you have to pay off your full balance each month. If you can’t pay in full, Chase offers “Flex for Business” which allows you to pay off individual purchases of $500 or more over time with interest charges.
This provides a bit more flexibility than a traditional charge card, but interest charges can quickly offset the value of your cash back rewards if you carry a balance. The variable APR is currently 19.49% to 27.49%.
Limited Redemption Options Compared to Other Ultimate Rewards Cards
As mentioned earlier, you technically earn Ultimate Rewards points with the Ink Business Premier Card, but they function differently than points earned on cards like the Ink Business Preferred or Chase Sapphire cards. Specifically:
- You cannot transfer points to Chase’s airline and hotel travel partners, which limits redemption value
- You cannot combine Ink Business Premier points with other Ultimate Rewards points you may have
- Your points are worth a flat 1 cent each toward cash back, gift cards, travel booked through Chase, Apple purchases, Amazon.com purchases, etc.
This cash back redemption structure is more straightforward but does limit your ability to maximize redemption value compared to transferring points to travel partners. It’s a tradeoff to consider based on how you want to redeem your rewards.
Additional Employee Cards at No Extra Cost
Like most business credit cards, the Ink Business Premier allows you to request free employee cards at no additional cost. You can set individual spending limits and receive employee spending reports to better monitor business expenses.
How the Ink Business Premier Card Compares
Ink Business Premier vs Ink Business Preferred
The Ink Business Preferred Card is another popular business credit card from Chase that has some key differences:
- Welcome Bonus: Earn 100,000 bonus points after spending $15,000 in the first 3 months (higher spending requirement but transferable points worth more)
- Earning Rates: 3X points on travel, shipping, internet/cable/phone services, advertising on social media and search engines (up to $150,000 in combined purchases annually), 1X point per $1 elsewhere
- Annual Fee: $95
- Transferable Points: Points can be transferred to airline and hotel partners or redeemed for travel at 1.25 cents per point through Chase
The Ink Business Preferred has a lower annual fee but higher spending requirement for the bonus. Its earning rates are less lucrative for non-bonus spending, but CopyClaude does not have internet access. Links provided may not be accurate or up to date.
Ink Business Premier vs Capital One Spark Cash Plus
The Capital One Spark Cash Plus is another premium cash back business card that competes with the Ink Business Premier:
- Welcome Bonus: Up to $1,200 cash bonus (earn $500 once you spend $5,000 in the first 3 months, plus $700 bonus once you spend $50,000 in the first 6 months)
- Earning Rates: Unlimited 2% cash back on all purchases, plus earning rates can be boosted to 3% and 5% in certain categories each quarter you meet spending thresholds
- Annual Fee: $150 (can be offset by a $200 cash bonus when you spend $200,000 or more annually)
The Spark Cash Plus offers slightly lower earning rates than the Ink Business Premier for big purchases, but higher potential earnings for very high annual spenders. It has a lower annual fee but a more complex rewards program overall.
READ ALSO: Is the Chase Ink Business Premier Credit Card Worth It?
Conclusion: Is the Chase Ink Business Premier Card Worth It?
The Chase Ink Business Premier Card is a lucrative cash back option for businesses with high monthly expenses, particularly those making frequent large purchases of $5,000 or more to take advantage of the 2.5% earning rate. The big welcome bonus and travel/purchase protections add more value.
However, the lack of transferable points and inability to pool rewards across accounts does limit the potential upside compared to a card like the Ink Business Preferred. You’ll need to be comfortable earning straightforward cash back rewards to make the most of this card.
Small businesses that don’t spend enough to offset the $195 annual fee may want to consider a no-annual-fee cash back card like Ink Business Cash or a more travel-focused card that aligns better with their goals.
Overall, the Ink Business Premier is a top choice for high spenders purely focused on maximizing cash back earnings rather than travel rewards. By factoring in your business spending patterns and redemption preferences, you can decide if it deserves a spot in your wallet.
FAQs About the Chase Ink Business Premier Card
What Credit Score Do You Need for the Ink Business Premier?
You’ll generally need good to excellent credit (at least a 670 FICO score or 661 VantageScore) to qualify for the Ink Business Premier Card. Chase will look at your personal credit history as the primary business owner.
Is the Ink Business Premier a Metal Card?
Yes, the Ink Business Premier features a sleek metal card design, which is becoming an increasingly common premium feature on rewards credit cards.
Can I Transfer Ultimate Rewards Points to Airlines and Hotels?
No, one of the key limitations of the Ink Business Premier Card is that you cannot transfer the cash back rewards (which are technically Chase Ultimate Rewards points) to any of Chase’s airline or hotel travel partners. This limits the maximum redemption value to 1 cent per point when redeemed for cash back.
Can I Combine Ultimate Rewards from the Ink Business Premier With Other Chase Cards?
Unfortunately no, you cannot combine the Ultimate Rewards points earned from the Ink Business Premier Card with points earned from other Chase Ultimate Rewards-earning cards like the Ink Business Preferred or Chase Sapphire cards.
Are Points Earned From the Ink Business Premier Churnable?
Chase’s strict application rules mean that you likely cannot earn the Ink Business Premier welcome bonus again if you earned it before by opening then closing the same card within the last 24 months. However, you may be able to earn the bonus again after that 24-month period has elapsed.
In another related article, Ink Business Unlimited vs Chase Freedom Unlimited – Which Cash Back Card Reigns Supreme?
