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The new Ink Business Premier Card is now open to online applications, and it offers a substantial welcome bonus and benefits for small-business owners — but the Ultimate Rewards points it earns aren’t nearly as flexible as those earned with other Chase cards.
Review: Is the Chase Ink Business Premier the best credit card for you?
Chase is well-known for its excellent small-business credit cards, most notably the Ink Business Preferred® Credit Card, Ink Business Cash® Credit Card, and Ink Business Unlimited® Credit Card. All of these cards earn valuable Chase Ultimate Rewards® points and come with lucrative welcome bonuses and solid perks for cardholders.
Late in 2021, Chase unveiled a brand new small-business card in the Ink family — the Ink Business Premier Card. It was originally only open to Chase for Business customers with an existing Business Relationship Manager, but it’s now available to the general public. As long as you qualify for a small-business card, you’re eligible to apply.
For a Ink Business Premier Card annual fee, the card comes with a welcome bonus offer of Ink Business Premier Card. While this card is marketed as a cash-back business card, it technically earns Chase Ultimate Rewards points.
You’ll receive the following earning rates:
5% cash back (5x points) when for travel purchased through the Chase Travel Portal2.5% cash back (2.5x points) on transactions of $5,000+2% cash back (2x points) on all other eligible purchases
If you’re a small business with the bulk of your expenses costing over $5,000, this card could be a fit for your strategy. Earning 2.5% cash back for those big purchases is nothing to sneeze at.
Apart from that, this card probably will not serve most people. It comes with a handful of potential deal-breakers. For example, the Ultimate Rewards points you earn with this cannot be transferred to Chase’s airline and hotel partners. And many small-business cards with significantly lower annual fees (or no annual fee at all) offer better return rates and ongoing benefits.
For example, the Ink Business Preferred® Credit Card costs Ink Business Preferred® Credit Card annually but comes with a similar welcome bonus offer of Ink Business Preferred® Credit Card. The points you earn are transferable to other Ultimate Rewards-earning cards, as well as airline and hotel partners.
You can also redeem your points at a rate of 1.25 cents each for travel through the Chase Ultimate Rewards portal or with Chase Pay Yourself Back toward eligible purchases in rotating categories.
Even the no-annual-fee Ink Business Cash® Credit Card and Ink Business Unlimited® Credit Card may prove significantly better for your credit card strategy, whether you’re interested in cash-back or travel rewards.
Here’s what you need to know about the Ink Business Premier Card.
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
How to earn rewards from the Ink Business Premier card
The Ink Business Premier Card is marketed as a cash-back card, but it actually earns rewards in the form of Chase Ultimate Rewards points, which are worth 1 cent each toward cash back and other redemptions.
Cardholders earn:
Unlimited 5% cash back (5x points) on travel booked through Chase Ultimate RewardsUnlimited 2.5% cash back on large purchases of $5,000 or moreUnlimited 2% cash back on all other purchases
The one unique aspect of this card is its ability to earn 2.5% on purchases of $5,000 or more, with no cap. If your business makes a meaningful amount of spending, this could be the card for you. Also, employee cards are free, so all your company’s expenses can accrue in the same place.
However, the other earning rates can be found on cards with no annual fee. For example:
The no-annual-fee American Express Blue Business Cash™ Card earns 2% cash back on the first $50,000 spent on eligible purchases each year, then 1% (cash back is received in the form of a statement credit)The no-annual-fee Citi® Double Cash Card earns 1% when you make a purchase (1 point per dollar) and 1% when you pay off that purchase (1 point per dollar), for a total of 2% back on all purchases.The no-annual-fee Chase Freedom Flex℠ earns 5% cash back (5 Chase points per dollar) on travel through the Chase Travel PortalThe no-annual-fee Wells Fargo Active Cash® Card earns 2% cash rewards on all purchases, with no limits
Because this card charges a Ink Business Premier Card annual fee, you’ll have to make at least $39,000 in qualifying 2.5% cash-back purchases before you would offset the card’s yearly cost and begin earning more than a card like the Citi® Double Cash Card.
How to use rewards from the Ink Premier card
Again, this card technically earns Chase Ultimate Rewards points. But here’s one baffling downside that could turn off many travelers and Chase Ultimate Rewards points collectors from this card: The rewards you earn with the Ink Business Premier Card can’t be transferred to valuable travel partners.
With other Chase Ink credit cards, like the Ink Business Unlimited® Credit Card and Ink Business Cash® Credit Card, you can:
Redeem your rewards for cash, gift cards, and travel at 1 cent eachConvert your rewards to airline miles or hotel points by moving your points over to a Chase Ultimate Rewards transferable points credit card like the Ink Business Preferred® Credit Card, Chase Sapphire Reserve®, or Chase Sapphire Preferred® Card.
Insider’s valuations peg Chase Ultimate Rewards points as worth 1.8 cents each, on average. That means the rewards you earn with other Ink credit cards have the potential to be worth significantly more than those you’ll earn on the Ink Business Premier Card.
The Ink Business Premier Card introduces a couple of setbacks:
You cannot transfer the points you earn from this card to another Chase cardThe points you earn with this card cannot be transferred to airline and hotel partners
According to a Chase representative, “Cardmembers are able to transfer rewards earned with other products into Premier, but are not able to transfer points out of Premier to other Chase products.”
You can only use your points for cash back, gift cards, or travel through the Chase portal — all at a rate of 1 cent per point.
Benefits and features
As with many small-business cards, the Ink Business Premier Card comes with travel and purchase benefits that can save you money and give you peace of mind.
Pay in full with spend potential
The Ink Business Premier Card is a pay-in-full card, which means you’re required to pay off your balance in full each month. Chase says cardholders will receive a “spend potential built for business,” but if you need some time to pay off purchases, the card’s “Flex for Business” option can help.
Similar to Amex’s Pay Over Time feature, the Flex for Business option allows cardholders to pay off eligible purchases of $500 or more over time, with interest.
Cell phone protection
When you pay your monthly wireless bill with the Ink Business Premier Card, you’re eligible for cell phone protection of up to $1,000 per claim with a $100 deductible, up to three times per year. That includes the primary line and any additional lines on your bill.
This can save you a significant amount of money if your phone is damaged or if you’d otherwise pay a premium for cell phone insurance for yourself and employees on your bill.
Primary car rental insurance
The Ink Business Premier Card comes with primary car rental insurance when you use your card to rent for business purposes.
When you decline the collision insurance offered by the rental company and charge the entire cost of the rental to your card, you’re covered for theft and collision damage up to the actual cash value of most vehicles in the US and abroad. Keep in mind this doesn’t include liability insurance, so you’ll have to pay for that separately or carry coverage through your own personal auto insurance policy.
Trip cancellation/interruption insurance
If you used your Ink Business Premier Card to make pre-paid reservations (such as hotels, tours, or airfare) with and your trip is canceled or interrupted for a covered reason, you may be eligible for reimbursement of up to $5,000 per trip.
Purchase protection
The Ink Business Premier Card comes with purchase protection, which covers your new purchases made with the card for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account.
Extended warranty
Cardholders also get extended warranty coverage which extends the time period of a US manufacturer’s warranty by an additional year, on eligible warranties of three years or less when you pay with the Ink Business Premier Card.
Travel and emergency assistance services
Ink Business Premier Card cardholders get access to a travel and emergency assistance hotline for help if things go awry away from home. Any third-party costs are the cardholder’s responsibility, but a benefits administrator can help arrange what’s needed — such as legal or medical referrals — during an unexpected event.
Roadside dispatch
The Ink Business Premier Card also comes with a roadside dispatch service, which can arrange help like towing, jumpstarting, or a tire change. As with emergency assistance services, cardholders are responsible for covering the cost of any services (which will be billed to your card).
Fees and costs
The Ink Business Premier Card comes with a Ink Business Premier Card annual fee, but there are no foreign transaction fees, so it’s a good card to use for international purchases. Employee cards are free.
Since this is a pay-in-full card, you’re required to pay your balance in full each month. Any Flex for Business eligible purchases of $500 or more will accrue interest (currently a Ink Business Premier Card APR) if you choose to pay them off over time.
Comparison: Ink Business Premier vs other Chase Ink cards
Ink Business Premier Card
Ink Business Preferred® Credit Card
Ink Business Unlimited® Credit Card
Annual fee
Ink Business Premier Card
Ink Business Preferred® Credit Card
Ink Business Unlimited® Credit Card
Rewards rate
5% cash back (5x points) on travel purchased through the Chase Travel Portal
2.5% cash back (2.5x points) on transactions of $5,000+
2% cash back (2x points) on all other eligible purchases
3x points on shipping purchases, advertising purchases on social media sites and search engines, internet, cable, and phone services, and travel*
1x points on all other purchases
1.5% cash back (1.5x points) on all eligible purchases with no cap
Welcome bonus offer
Ink Business Premier Card
Ink Business Preferred® Credit Card
Ink Business Unlimited® Credit Card
Card benefits
Pay-in-full card with spend potential for small businesses
Flex for Business feature allows flexibility to pay off purchases of $500 or more over time with interest
Cell phone protection
Primary car rental insurance (when renting for business purposes)
Trip cancellation/interruption insurance
Purchase protection
Extended warranty
Travel and emergency assistance services
Roadside dispatch
No foreign transaction fees
Cell phone protection
Primary car rental insurance (when renting for business purposes)
Trip cancellation/interruption insurance
Extended warranty
Purchase protection
Travel and emergency assistance services
Roadside dispatch
No foreign transaction fees
Ink Business Unlimited® Credit Card, then a Ink Business Unlimited® Credit Card
Primary car rental insurance (when renting for business purposes)
Extended warranty
Purchase protection
Travel and emergency assistance services
Roadside dispatch
Review
Ink Business Preferred credit card review
Ink Business Unlimited credit card review
Ink Business Premier vs other cash-back small-business cards
Ink Business Premier Card
Spark 2% Cash Plus
American Express Blue Business Cash™ Card
Annual fee
Ink Business Premier Card
Spark 2% Cash Plus
American Express Blue Business Cash™ Card
Rewards rate
5% cash back (5x points) on travel purchased through the Chase Travel Portal
2.5% cash back (2.5x points) on transactions of $5,000+
2% cash back (2x points) on all other eligible purchases
5% cash back on hotels and rental cars booked through Capital One Travel
2% cash back on all other purchases
2% cash back on the first $50,000 spent on eligible purchases each year, then 1% (cash back is received in the form of a statement credit)
Welcome bonus offer
Ink Business Premier Card
Spark 2% Cash Plus
American Express Blue Business Cash™ Card
Card benefits
Pay-in-full card with spend potential for small businesses
Flex for Business feature allows flexibility to pay off purchases of $500 or more over time with interest
Cell phone protection
Primary car rental insurance (when renting for business purposes)
Trip cancellation/interruption insurance
Purchase protection
Extended warranty
Travel and emergency assistance services
Roadside dispatch
No foreign transaction fees
No preset spending limit
Earn a $200 bonus every year you spend $200,000 or more on your card
Car rental insurance
Extended warranty
Roadside and travel assistance
No foreign transaction fees
Extended warranty
Purchase protection
Secondary car rental insurance
Global Assist Hotline
Discounts and bonuses through Amex Offers**
American Express Blue Business Cash™ Card, then a American Express Blue Business Cash™ Card
Review
Capital One Spark Cash Plus card review
Amex Blue Business Cash card review
Chase Ink Business Premier frequently asked questions (FAQ)
Is the Chase Ink Business Premier card worth it?
The Ink Business Premier Card is really only worth it for small businesses that frequently make large purchases over $5,000 (in order to trigger the 2.5% cash-back earning rate), or those that prefer a card with a higher spending potential than regular small-business credit cards. Because it charges a high Ink Business Premier Card and doesn’t offer the ability to get outsized value from its rewards, most people will do better with a Chase card that charges a more modest (or no) annual fee.
What credit score do you need for the Chase Ink Business Premier?
As with other Chase small-business cards, you’re more likely to be approved for the Ink Business Premier Card with at least a good credit score (a FICO score of 670 or higher).
Can you transfer points from the Ink Business Premier to other Chase cards?
No, you’re not allowed to transfer points from the Ink Business Premier Card to other Chase Ultimate Rewards cards. However, you can transfer rewards one-way from other Chase cards to the Ink Business Premier Card, although it’s not a good idea to do so, since you’ll potentially decrease their value.
Is the Ink Business Premier the best Chase card for small-business owners?
Generally, no, the Ink Business Premier Card isn’t the best choice if you want a Chase card for your small business due to its high annual fee and limited reward redemption options. If you want a high welcome bonus offer with a modest annual fee and the most value and flexibility from your rewards, the Ink Business Preferred® Credit Card is a much better pick.