Chase Ink Business Premier card review: Full details

The Chase Ink Business Premier® Credit Card (see rates and fees) is geared toward business owners who want to earn cash-back rewards on their day-to-day purchases. Its earning rates are solid, but the $195 annual fee is high for what you get out of this card since you won’t be able to transfer your rewards to Chase’s travel partners for maximum value. Card rating*: ⭐⭐½

* Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

Chase has long offered “cash-back” credit cards that actually earn Chase Ultimate Rewards points.

That means if you have another Chase card that earns transferable Ultimate Rewards points, such as the Chase Sapphire Preferred® Card (see rates and fees), you could combine your rewards and then transfer your points to the program’s various airline and hotel partners, giving you more flexibility in how you could redeem the rewards you earned.

The Chase Ink Business Premier, however, is a different story.

While it earns Ultimate Rewards points, these points are intended primarily for cash back and redemptions for things like gift cards and travel through Chase Travel℠. They can’t be transferred to partners, regardless of what other Chase cards you have.

Approved applicants typically have a personal credit score of at least 670. However, you can also apply for the card using an employer identification number, which is tied to your business credit score.

All that said, this card might be worth considering for some businesses looking to save money on large expenses.

Here’s what you need to know about the Chase Ink Business Premier and its benefits.

New Ink Business Premier cardholders can earn $1,000 in bonus cash back after spending $10,000 on purchases in the first three months of account opening.

That easily offsets the cost of the $195 annual fee for your first year, and it’s a decent welcome offer compared to similar card options. This is the standard welcome offer we typically see on this card.

However, plenty of travel rewards credit cards offer welcome bonuses of higher value, both for business and personal use. And while this is a large bonus for a business-focused cash-back card, most cash-back business cards come with lower annual fees.

Plus, the spending requirement for this card’s welcome bonus is quite high.

Before applying, make sure you meet all of Chase’s application requirements, including being under the 5/24 rule.

Related: 15 cards currently offering welcome bonuses of 100,000 points or more

• Employee cards: Similar to other Ink cards, employee cards don’t cost the primary cardholder any additional fees.
• Cellphone protection: Coverage extends up to $1,000 per claim for up to three claims per year with a $100 deductible per claim.
• Purchase protection: This benefit covers new purchases for 120 days against damage or theft (up to $10,000 per item and up to $50,000 per account).
• Trip cancellation/interruption insurance: If your trip is canceled or cut short, you’ll be covered for eligible issues for prepaid, nonrefundable travel expenses (up to $5,000 per person and up to $10,000 per trip).
• Extended warranty protection: Purchases with a three-year or less U.S. manufacturer’s warranty will include an additional year of coverage.
• Auto rental collision damage waiver: Enjoy primary coverage that protects against theft and damage in the U.S. and most countries around the world. You’ll get up to $60,000 in reimbursement for most vehicles with a manufacturer’s suggested retail price of $125,000 or less.

Considering you can get cellphone protection and similar benefits with the Ink Business Preferred® Credit Card (see rates and fees) for a much lower $95 annual fee, the benefits on this card aren’t especially exciting compared to the competition.

If you’re a business owner just looking for cash back on purchases, benefits may not matter as much to you. But for that higher $195 annual fee, it’s fair to expect more valuable perks like access to transfer partners or some statement credits, like one for TSA PreCheck or Global Entry.

To be clear, 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
• 2.5% cash back on purchases of $5,000 or more
• 2% cash back on all other purchases

Unlimited 2% cash back on purchases isn’t incredibly lucrative, but it is a solid return, considering you don’t have to worry about bonus categories or spending caps. Regardless of your business’ spending habits, you know you’re earning a decent return on your purchases.

Plus, 2.5% cash back on purchases of $5,000 or more is a nice perk for businesses that tend to have larger expenses, while that 5% category is great for businesses that can make a lot of travel bookings via Chase.

However, the Ink Premier card is not the best choice for businesses that don’t make large purchases frequently. If you’re not spending over $5,000, you’re only getting 2% cash back. There are other business cards that offer 2% cash back for a lower annual fee, like the Capital One Spark Cash Plus.

Related: The top 7 credit cards to maximize large purchases

Ink Business Premier cardholders can redeem their points for cash back, gift cards, travel and more. Your points are worth 1 cent each toward any of these redemption options.

Unlike some other Chase cards that earn cash back, you won’t be able to transfer the rewards you earn with the Chase Ink Business Premier into your other Chase accounts to take advantage of Chase’s airline and hotel transfer partners.

That’s a major downside to the Ink Business Premier. Based on this reason alone, we find it hard to recommend this card, as your options for maximizing your hard-earned rewards are extremely limited.

For instance, some of Chase’s “cash-back” credit cards, like the Ink Business Unlimited® Credit Card (see rates and fees) and the Chase Freedom Flex® (see rates and fees), allow you to combine your rewards from them with your higher-tier cards, including the Chase Sapphire Reserve® (see rates and fees) and Ink Business Preferred.

Then, you can transfer those points to Chase’s transfer partners to get more than 1 cent per point (if not more) in value.

Related: How to redeem Chase Ultimate Rewards points for maximum value

Overall, given what we know Chase is capable of, the Ink Business Premier is pretty lackluster. Unless you’re a high-spending business owner who doesn’t care about flexible travel rewards, there are other options out there that may better suit your needs.

• If you want to earn transferable Ultimate Rewards points: The Ink Business Preferred earns 3 points per dollar spent on the first $150,000 of combined spending in various bonus categories, such as travel or shipping purchases, each account anniversary year. Points can be transferred to airline and hotel partners for maximum value. Best of all, it only has a $95 annual fee. To learn more, read our full review of the Ink Business Preferred.
• If you prefer American Express: The Blue Business® Plus Credit Card from American Express earns 2 Membership Rewards points per dollar spent on every purchase (on the first $50,000 spent each calendar year, then 1 point per dollar after that). Additionally, you can transfer points to Amex’s airline and hotel partners. This card doesn’t have an annual fee (see rates and fees). To learn more, read our full review of the Blue Business Plus.
• If you prefer Capital One: The Capital One Spark Cash Plus earns an unlimited 2% cash back on all purchases without any spending limits. You can also get your $150 annual fee refunded every year you spend $150,000 or more in a year. To learn more, read our full review of the Capital One Spark Cash Plus.

For additional options, check out our picks for the best business cards and the best Chase cards.

Related: Chase Ink Business Preferred vs. Ink Business Premier: Which card should take a spot in your wallet?

Apply here: Ink Business Premier Credit Card

For rates and fees of the Amex Blue Business Plus card, click here.