Review of the Chase Ink Business Premier card: Excellent cash back, but limited flexibility.

Overview of the Chase Ink Business Premier credit card.

The Chase Ink Business Premier® Credit Card is designed for entrepreneurs looking to earn cash back on everyday expenditures. While the cash back rates are appealing, the $195 annual fee may be steep considering the lack of point transfer options to Chase’s travel partners for optimal value. Card rating*: ⭐⭐½

* Card Rating reflects the subjective views of TPG's editorial team and is not swayed by the card issuer.

Chase has been offering "cash-back" credit cards that actually generate Ultimate Rewards points for a long time.

This means that if you hold another Chase card that earns transferable Ultimate Rewards points, like the Chase Sapphire Preferred® Card, you can merge your rewards and transfer your points to various airline and hotel partners, allowing for greater flexibility in how you redeem your rewards.

The Chase Ink Business Premier, on the other hand, tells a different tale.

While it does earn Ultimate Rewards points, these points are mainly meant for cash back and can be redeemed for items like gift cards or travel through Chase Travel℠ at a value of 1 cent each.

Typically, approved applicants have a personal credit score of at least 670. However, you can also apply using an EIN, which is associated with your business credit score.

With that in mind, this card could be a good option for businesses aiming to cut costs on significant purchases.

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

Advantages and disadvantages of the Chase Ink Business Premier.

Chase Ink Business Premier introductory offer.

New Chase Ink Business Premier cardholders can receive $1,000 cash back (equivalent to 100,000 Ultimate Rewards points) after spending $10,000 within the first three months of opening the account.

This easily covers the $195 annual fee for your first year, making it a competitive welcome offer compared to similar cards.

Nonetheless, many travel rewards credit cards provide welcome bonuses of greater value, suitable for both business and personal use. Although this is a significant bonus for a business cash-back card, most cash-back business cards usually have lower annual fees.

Additionally, the spending requirement to qualify for this card's welcome bonus is relatively high.

Before submitting your application, ensure you fulfill all of Chase's application criteria.

Advantages of the Chase Ink Business Premier.

While this card offers some protections, it doesn't have many travel-specific benefits. However, it does include features and additional perks that can provide business owners with value and reassurance, many of which align with those of other Chase Ink cards:

• Employee cards — Like other Ink credit cards, employee cards are free for the primary cardholder.
• Cellphone protection — Provides coverage of up to $1,000 per claim for three claims each year, with a $100 deductible for each claim.
• Purchase protection: Safeguards new purchases for 120 days against theft or damage, covering up to $10,000 per claim (maximum of $50,000 per account).
• Trip cancellation/interruption insurance: Reimburses up to $5,000 per person (maximum of $10,000 per trip) for prepaid, nonrefundable travel expenses if a trip is canceled or interrupted for covered reasons.
• Extended warranty protection: Offers an additional year of coverage for purchases with a U.S. manufacturer's warranty of three years or less.
• Primary car rental coverage: Provides theft and damage protection in the U.S. and most countries worldwide, reimbursing up to the actual cash value of the vehicle.

Given that you can access cellphone protection and similar perks with the Ink Business Preferred® Credit Card for a significantly lower annual fee of $95, the benefits of this card may not stand out much compared to its competitors.

If you're a business owner focused solely on cash back, the benefits may hold less importance for you. However, with a higher $195 annual fee, one would expect more valuable perks in return.

How to earn rewards with the Chase Ink Business Premier.

It's important to note that the Chase Ink Business Premier does not accumulate transferable Chase Ultimate Rewards points. Instead, it offers unlimited 2% cash back on all purchases, 2.5% back on significant purchases of $5,000 or more, and unlimited 5% cash back on travel booked through Chase Travel and Lyft rides (Lyft promotions valid through March 2025).

Earning unlimited 2% cash back on purchases may not be extremely rewarding, but it's a reliable return, especially since you won’t have to manage bonus categories or limits. Regardless of your business's spending patterns, you can be assured of a solid return on your purchases.

Additionally, earning 2.5% cash back on purchases of $5,000 or more is a valuable benefit for businesses that often incur larger expenses, while the 5% cash back category is excellent for those frequently booking travel through Chase.

However, the Ink Premier card may not be the ideal option for businesses that don’t regularly make significant purchases.

How to redeem rewards with the Chase Ink Business Premier.

Ink Business Premier cardholders have the option to redeem their points for cash back, gift cards, travel, and more. Each point is valued at 1 cent for any of these redemption methods.

In contrast to some other Chase cards that offer cash back as transferable Ultimate Rewards points, the points earned with the Chase Ink Business Premier cannot be transferred to other Chase accounts for use with Chase's airline and hotel transfer partners.

This is a significant drawback of the Ink Business Premier. For this reason alone, I find it difficult to recommend this card, as the options for maximizing your hard-earned rewards are very limited.

For example, other Chase "cash-back" credit cards—such as the Ink Business Unlimited® Credit Card or the Chase Freedom Flex®—enable you to combine rewards from these cards with those linked to higher-tier cards like the Chase Sapphire Reserve® and Ink Business Preferred Credit Card.

Then, you can transfer those points to Chase's partners to potentially receive more than 1 cent per point in value—sometimes significantly more.

What cards are competitors to the Chase Ink Business Premier?

Overall, considering Chase's capabilities, the Ink Business Premier falls short. Unless you’re a high-spending business owner indifferent to flexible travel rewards, there are better options available to meet your needs.

• If you're interested in earning transferable Ultimate Rewards: The Ink Business Preferred card earns 3 points per dollar on the first $150,000 spent in various bonus categories like travel, shipping, and communication services each account anniversary year. Points can be transferred to airline and hotel partners for maximum value, and it has a low $95 annual fee. To learn more, read our full review of the Ink Business Preferred.
• If you favor American Express: The The Blue Business® Plus Credit Card from American Express offers a fixed return of 2 Membership Rewards points per dollar on all purchases for the first $50,000 spent each year, then 1 point per dollar thereafter. You can also transfer points to airline and hotel partners, and the card has no 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 offers an unlimited 2% cash back on all purchases with no spending limits. Additionally, if you spend $150,000 or more in a year, your $150 annual fee (see rates and fees) is refunded. To learn more, read our full review of the Capital One Spark Cash Plus.

For more choices, check out our selections for the best business cards and the best Chase cards.

Is the Chase Ink Business Premier a worthwhile choice?

The inability to transfer your points to Chase's partners or to other Chase cards makes the Ink Business Premier less appealing for those aiming to maximize rewards. If you're a small-business owner looking to earn points for award travel, I suggest exploring other card options.

Conclusion

The Ink Business Premier doesn't quite measure up to its competitors. At best, it fails to distinguish itself. Business owners with significant expenses and frequent large purchases may find some value in this card.

However, the limited redemption options for award travel, few benefits, and a relatively high annual fee are likely to deter many small-business owners. If you're a small-business owner or side hustler seeking rewards, it's advisable to explore other options to fulfill your business credit card requirements.