Chase Ink Business Premier® Credit Card review: A laid-back cash back rewards card for big spenders
Earn big rewards on big business spending.
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Snapshot
3.4
Bottom line
High-spending business owners that prefer simple unlimited cash-back rewards will find the Ink Business Premier Card to be an ideal fit thanks to its 2 percent rewards rate on all purchases and 2.5 percent purchase bonus on all expenditures over $5,000.
Intro offer
$1,000 Cash Back
Rewards Rate
2% - 5%
Annual fee
$195
Regular APR
Flex for Business Variable APR: 18.74% - 26.74%
4.3
Cardholder rating
Extra perks
Online tools
Customer service
Information safe
3.4
Bankrate score
Rewards value
APR
Rewards flexibility
Features
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Ink Business Premier Credit Card Overview
The Ink Business Premier Credit Card is Chase’s latest addition to its portfolio of business credit cards and includes unique features along with a few drawbacks. As Chase’s first premium flat-rate business rewards card, the Ink Business Premier stands apart from the competition with boosted rewards on large purchases, simplified flexible spending features and excellent travel protections. On the other hand, it’s also the first premium Chase Ultimate Rewards card that doesn’t offer a boost in rewards value when redeeming toward travel, nor does it allow access to the issuer’s travel transfer partners.
The Business Premier card is among the top options available if your business requires strong purchasing power and straightforward, generous rewards on big purchases. However, it is important to consider your business spending habits and whether you spend enough monthly to justify the $195 annual fee and limited redemption options. If not, a different flat-rate business credit card or one that allows you to redeem for travel, like the Ink Business Preferred® Credit Card, could be a better fit.
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Rewards
- 5 percent cash back on travel booked through the Chase travel portal, 2.5 percent cash back on purchases over $5,000, 2 percent cash back on all other eligible purchases
- Rewards value: 1 cent per percent
Expert Appraisal: Good
See our Expert’s Analysis -
Welcome offer
- $1,000 cash back after spending $10,000 on purchases in first 3 months of account opening
Expert Appraisal: Exceptional
See our Expert’s Analysis -
Rates and fees
- $195 annual fee
- $40 late payment fee or 2% of the minimum payment, whichever is greater
- $15 cash advance fee or 5 percent of the transaction amount, whichever is greater
- No foreign transaction fees
- Flex for Business Variable APR: 18.74% - 26.74%
Expert Appraisal: Typical
See our Expert’s Analysis -
Other cardholder perks
- Free employee cards
- Trip cancellation/protection insurance
- Extended warranty protection
- Flex for business feature
Expert Appraisal: Good
See our Expert’s Analysis
Ink Business Premier pros and cons
Pros
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The card offers boosted rewards on Chase Ultimate Rewards travel and large purchases, significantly increasing your rewards earning potential.
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Cardholders can redeem both cash back and travel at a 1:1 value, so neither redemption choice reduces the value of your rewards.
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It carries excellent travel protections and perhaps the best cellphone protection perk in its category.
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The sign-up bonus is among the best available for business cards for the requirement.
Cons
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If you don’t anticipate making several large purchases, the annual fee is hard to justify.
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Cardholders have limited redemption options, as they can’t take advantage of transfer partners or redeem points for more value toward travel through Chase Ultimate Rewards.
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Cardholders cannot combine rewards with other Chase cards to increase rewards value.
Why you might want the Ink Business Premier
This card’s rewards structure is designed for business owners who want to earn more on larger purchases, accruing unlimited and boosted flat-rate rewards and travel rewards through Chase Ultimate Rewards. Additional benefits add even more to the overall value of this card.
Rewards: Boosted rates for big spenders
This card’s rewards structure is designed for business owners who want to earn more on larger purchases, accruing unlimited 2 percent cash back on every purchase, unlimited 2.5 percent back on large purchases of $5,000 or more and unlimited 5 percent cash back on travel booked through Chase Travel℠. In addition, there’s no limit on how much you can earn, and the rewards don’t expire as long as your account is active.
Cardholders can use Ink Business Premier points to redeem cash back, travel booked through the Ultimate Rewards portal, Amazon.com and PayPal purchases, gift cards to over 175 brands, Apple products and more. Travel purchases and gift cards can be redeemed at one cent per point.
Credit Limit: Flexible options of high budgets
Technically, this card is a charge card, meaning that the full balance must be paid by the close of each billing cycle. However, rather than charge a standard annual percentage rate, the Ink Business Premier functions similarly to some of Amex’s top-tier rewards cards. While cardholders will have to pay their balance in full each month, this card offers Flex for Business, a flexible-spending payment plan option for business owners to pay off purchases over $500 over time with interest (Flex for Business Variable APR: 18.74% - 26.74%).
Welcome Offer: Good return on high spend
Ink Business Premier owners can earn a $1,000 cash bonus in the form of 100,000 Ultimate Rewards points after spending $10,000 on purchases in your first three months. This requirement can seem intimidating, but the roughly $3,334 per monthly spend fits in with the average small-business yearly spend of $48,000 when divided evenly.
When taking other business credit card sign-up bonuses into account, this spending requirement is quite reasonable given its value to cardholders. Chase’s Ink Business Preferred credit card offers the same point value but requires a slightly lower spend in the same three-month window. In addition, the American Express Business Gold credit card requires the same spend in your first three months, but its bonus is valued less unless you transfer those points to an Amex partner.
Benefits: A good list of travel and purchase protections
The bright side of having a card with an annual fee is that you’ll likely get plenty of travel and purchase protections. Some highlights for the Ink Business Premier include:
- Trip cancellation/trip interruption insurance: Pre-paid, non-refundable travel expenses, including passenger fares and hotels, can be reimbursed up to $5,000 per person and $10,000 per trip in the event of covered situations like sickness and weather.
- Auto rental collision damage waiver: You’ll receive primary coverage up to the cost of the vehicle in the event of theft or collision by paying for your auto rental vehicle with your card and declining the agency’s insurance.
- Cell phone protection: Providing one of the best cellphone protection plans you’ll find on a credit card, the Business Premier allows cardholders, or the employees listed on the monthly cell phone bill paid by your card to enjoy up to $1,000 per claim (three claims per 12 months with a $100 deductible) in cell phone protection against covered theft or damage.
Why you might not want the Ink Business Premier
If your business requires strong purchasing power and straightforward, generous rewards on big purchases, the Business Premier card is among the top options available. However, it is important to consider your business spending habits and whether you spend enough monthly to justify the $195 annual fee and limited redemption options.
Fees: The amount can add up quickly
While this card's most notable fee is the $195 annual fee, there are other fees to be aware of, such as the late payment fee of $40 or 2 percent of the minimum payment due, whichever is greater. Plus, there is a cash advance fee of either $15 or 5 percent of the amount of each transaction, whichever is greater. Fortunately, you’ll be able to shop abroad without worry, as there is no foreign transaction fee.
Pairing: Lack of Chase combinations
Chase has a 1:1 point transfer ratio for the Ultimate Rewards points it earns, meaning 1 point equals 1 mile or 1 cent of cash back. However, since the cash back points earned through the Ink Business Premier cannot be transferred to airline or hotel partners or combined with your Chase Ultimate Rewards® balance on other Ultimate Rewards-earning cards, you won’t get any boosted point value on reward earnings.
How the Ink Business Premier compares to other business credit cards
The Ink Business Premier is one of the top cards around for large businesses with high monthly expenditures. Along with its consistent cash back rewards rate and boosted rates on big purchases and travel, the sign-up bonus is quite attainable for its target audience. However, smaller businesses with lower monthly and annual revenues may receive more value from a competing card.
Annual fee
Intro offer
Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
Rewards rate
Unlimited 5% total cash back on travel purchased through Chase Travel℠. Unlimited 2.5% total cash back on purchases of $5,000 or more. Unlimited 2% cash back on all other business purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
$2,000 cash back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year
Rewards rate
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. Earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
Rewards rate
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases – with no limit to the amount you can earn.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Best cards to pair with this card
In most cases, pairing Chase rewards credit cards is an excellent way to boost rewards and make the most of your spending. However, the Ink Business Premier is an exception. Because it’s technically not a Chase Ultimate Rewards card, you don’t have the option to pool your points. While this is a drawback, it doesn’t take away all the card’s paring power. Its 5 percent cash back on travel and 2 to 2.5 percent cash back on general business purchases can be very helpful when coupled with a variety of cards.
Who is the Ink Business Premier for?
Bankrate’s Take — Is the Ink Business Premier worth it?
The Ink Business Premier is ideal for business owners who don’t mind paying a higher annual fee for a line of credit with straightforward rewards and a hefty sign-up bonus. If your business can use this card for the bulk of its monthly expenses, you’ll reap the rewards while saving loads on interest payments.
While this card occupies a specific niche in the business credit card landscape, only some business owners will benefit from this type of card. It may not be suitable for businesses that do not anticipate making many purchases over the high spending threshold. In fact, the Ink Business Premier serves as an entry point into Chase’s suite of sophisticated financial products aimed toward larger businesses.
The information about the Chase Freedom Flex® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
How we rated this card
Our proprietary card rating system takes into account a mix of factors when scoring business credit cards, including each card’s rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more.
We analyzed over 50 of the most popular business credit cards and scored each based on how its key features stacked up compared to those of other cards in its category.
Here are some of the key factors that gave this card its score:
Frequently asked questions
What cardholders think
Ink Business Premier® Credit Card
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
