Overview of the Chase Ink Business Premier Credit Card
The Chase Ink Business Premier® Credit Card is tailored for business owners aiming to earn cash-back rewards from everyday expenses. While its earning rates are competitive, the $195 annual fee seems steep given the lack of options to transfer rewards to Chase’s travel partners for greater value. Card Rating: ⭐⭐½
* The card rating reflects the perspective of Flying Frugal’s editors and is not influenced by the card issuer.
Chase has a history of offering “cash-back” credit cards that earn Chase Ultimate Rewards points.
This means that if you hold another Chase card that earns transferable Ultimate Rewards points—such as the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®—you can shift your cash back into an Ultimate Rewards-earning card to utilize those points with various airline and hotel partners.
However, the Chase Ink Business Premier operates differently; it provides cash back that cannot be transferred to partners, regardless of any other Chase cards you may possess.
We suggest aiming for a credit score of at least 670 to improve your likelihood of approval for this card. You can also apply with an employer identification number, linked to your business credit score.
For businesses looking to save on large expenses, the Ink Business Premier may be worth a closer look. Here’s what to consider.
The information presented here about the Ink Business Premier is independently sourced by The Points Guy and has not been verified by the card issuer.
Pros and Cons of the Chase Ink Business Premier
| Pros | Cons |
|---|---|
|
|
Welcome Offer for Chase Ink Business Premier
New cardholders can earn $1,000 in bonus cash back after spending $10,000 in the first three months of opening an account.
This welcome offer effectively covers the $195 annual fee for the first year, making it a competitive option among similar cards. Note that the welcome bonus translates to 100,000 points, which can be redeemed for $1,000 cash back.
However, many travel rewards cards offer higher bonus values. Additionally, the spending requirement for this welcome bonus is fairly steep.
Before applying, ensure you meet all of Chase’s application criteria, including being under their 5/24 rule.
Related: 15 cards currently offering welcome bonuses of 100,000 points or more
Benefits of the Chase Ink Business Premier
While the card lacks certain travel benefits, it offers a range of perks that can be beneficial for business owners, some of which are similar to other Chase Ink cards:
- Employee Cards: Employee cards are issued at no extra cost to the primary cardholder.
- Cellphone Protection: Coverage of up to $1,000 per claim for up to three claims each year, with a $100 deductible per claim.
- Purchase Protection: Covers new purchases for 120 days against theft or damage (up to $10,000 per item and $50,000 total).
- Trip Cancellation/Interruption Insurance: Up to $5,000 reimbursement per traveler (up to $10,000 total per trip) if your trip is interrupted due to illness or severe weather.
- Extended Warranty Protection: Offers an additional year of coverage on purchases with a three-year or less manufacturer’s warranty.
- Auto Rental Collision Damage Waiver: Primary coverage for theft and damage in the U.S. and most countries, with up to $60,000 reimbursement for vehicles with a retail price of $125,000 or less.
Considering similar benefits are available through the Ink Business Preferred® Credit Card for a lower annual fee of $95, the perks of the Ink Business Premier may not be particularly appealing compared to other options.
The details for the Ink Business Preferred have been gathered independently and have not been reviewed by the card issuer.
Earning Rewards with the Chase Ink Business Premier
It’s important to note that the Chase Ink Business Premier does not earn transferable Chase Ultimate Rewards points. Instead, you’ll earn:
- 5% cash back on travel booked through Chase Travel℠
- 5% cash back on Lyft purchases (through Sept. 2027)
- 2.5% cash back on purchases of $5,000 or more
- 2% cash back on all other purchases
While unlimited 2% cash back on all purchases is decent, it may not be particularly enticing. However, it ensures a solid return without the hassle of tracking bonus categories or limits. Businesses with higher expenses will find the 2.5% cash back advantageous for larger purchases, and the 5% rate is ideal for frequent travelers booking through Chase.
Related: Top 7 credit cards to maximize large purchases
Redeeming Rewards with the Chase Ink Business Premier
Cash back earned through the Ink Business Premier is tracked as points, with each dollar equal to 100 points. When redeeming, you’ll notice rewards are expressed in points.
Cardholders can redeem these points for cash, gift cards, travel, and more—valued at 1 cent each for any of these options.
However, unlike some other Chase cards, you cannot transfer rewards from the Chase Ink Business Premier into other Chase accounts for maximizing value with airline or hotel partners.
This limitation significantly detracts from the appeal of the Ink Business Premier, making it hard to recommend. Other Chase cash-back cards allow combining earned rewards with travel-benefit cards, such as the Chase Sapphire Reserve and Ink Business Preferred, allowing for transfer and higher value options.
Related: Maximizing value with Chase Ultimate Rewards points
Competing Cards to the Chase Ink Business Premier
Overall, the Ink Business Premier may fall short of expectations. Unless you are a high-spending business owner prioritizing cash back over flexible travel rewards, consider these alternatives:
- For transferable Ultimate Rewards points: The Chase Sapphire Reserve for Business℠ offers 4 points per dollar on travel booked directly, 3 points on social media and search engine ads, and 1 point on other purchases. This card earns Ultimate Rewards points directly, eliminating the need to convert cash back.
- If you prefer American Express: The The Blue Business® Plus Credit Card from American Express earns 2 Membership Rewards points for every purchase (1 point thereafter) and allows transfers to airline and hotel partners, all with no annual fee.
- If you like Capital One: The Capital One Spark Cash Plus provides unlimited 2% cash back on all purchases, with a $150 annual fee that can be reimbursed if you spend $150,000 annually.
For more options, check our recommendations for the best business cards and Chase cards.
Related: Chase Ink Business Preferred vs. Ink Business Premier: Which card should you choose?
Is the Chase Ink Business Premier Worth It?
The inability to transfer points makes the Ink Business Premier less appealing for those seeking to maximize rewards. If you’re a small-business owner aiming for points for award travel, consider exploring other cards.
Conclusion
While the Ink Business Premier may offer value for business owners with high expenditures, its limited redemption options for travel, minimal benefits, and high annual fee may deter many potential users.
It simply doesn’t stack up against competing offerings. Most small-business owners or side hustlers looking for rewards will likely find better alternatives to meet their needs.
For rates and fees of the Amex Blue Business Plus card, click here.
