Who is best suited for the Chase Ink Business Premier, and who might want to pass?

Businesses vary widely—whether you run a luxury restaurant, a dynamic startup, or an online consulting firm, there are ample chances to optimize your daily expenses with a small-business credit card.

With an annual fee of $195, the Ink Business Premier® Credit Card offers unlimited 2% cash back on all purchases, 2.5% back on larger purchases of $5,000 or more, and 5% cash back on travel booked via Chase Ultimate Rewards.

This guide will explore the card's additional ongoing benefits to identify the best candidates for it.

Key advantages

New applicants who are approved for the Ink Business Premier will receive a welcome bonus of $1,000 cash back (equivalent to 100,000 Ultimate Rewards points) after making $10,000 in eligible purchases within the first three months of account opening.

In contrast to other Ink business credit cards, the Ink Business Premier is mainly structured as a business cash-back card. Consequently, the points earned cannot be transferred to the Ultimate Rewards program's airline and hotel partners, like United MileagePlus, Southwest Rapid Rewards, and World of Hyatt.

Sadly, the points earned with the Ink Business Premier cannot be transferred to other Ultimate Rewards accounts, even if you hold another Chase card. However, you can transfer points from other Chase Ultimate Rewards accounts to the one associated with your Ink Business Premier card and redeem them there. That said, there are several reasons why you might choose not to do this, which we will discuss below.

You'll also enjoy the following benefits:

• A Flex for Business feature that enables cardholders to spread payments for eligible purchases over time with interest, providing greater payment flexibility
• Cellphone protection covering up to $1,000 per claim, with a limit of three claims per year and a $100 deductible for each claim

Considering all this, let’s examine who stands to gain the most from this card.

Who is the ideal candidate for the Ink Business Premier?

Businesses with significant operating costs

As one of Chase's top-tier business credit cards, the Ink Business Premier is clearly aimed at companies with substantial annual operating expenses.

To earn the $1,000 cash-back bonus, you'll first need to spend $10,000 within the first three months.

The $195 annual fee is another factor to keep in mind. While it’s not overly high, it is $100 more than the Ink Business Preferred® Credit Card, so applicants should ensure they can offset this cost with their annual cash-back earnings. Given this card's bonus categories, that shouldn't be too challenging.

Chase's Flex for Business payment feature is tailored for entrepreneurs who require added flexibility for making large purchases and developing a strategy to pay them off gradually.

A user of the Ink Business Cash Credit Card

The Ink Business Premier complements the no-annual-fee Ink Business Cash® Credit Card, which provides valuable bonus categories for business-related expenses—though only up to a specific limit.

Ink Business Cash cardholders can earn 5% cash back at office supply stores and on internet, cable, and phone services, but this applies only to the first $25,000 spent each account anniversary year.

You can transfer all rewards earned from the Ink Business Cash to the Ink Business Premier, but the reverse is not possible. However, the unlimited 2% cash back rate on the Ink Business Premier is quite beneficial, especially after reaching the spending limits on the Ink Business Cash, as well as for earning points on business purchases outside those bonus categories.

Who is not a good fit for the Ink Business Premier?

Small businesses or self-employed individuals

The Ink Business Premier is not ideal for business owners who do not have thousands of dollars in annual expenses. Fortunately, Chase offers other business card options that are much better suited, providing excellent earning potential at a significantly lower cost (or none) compared to the Ink Business Premier.

Individuals looking to maximize their earning of transferable Chase Ultimate Rewards points

As previously mentioned, the rewards earned with the Ink Business Premier cannot be transferred to your other Ultimate Rewards-earning cards. This is disappointing for many, as you can combine rewards from other Chase cash-back cards and transfer them to the Ultimate Rewards program’s airline and hotel partners.

If you're looking to earn thousands of Ultimate Rewards points, you might want to skip applying for the Ink Business Premier.

Even if your goal is to redeem your Ultimate Rewards points directly for travel booked through Chase, the Ink Business Preferred could be a more advantageous option. For these specific redemptions, your points will hold a value of 1.25 cents each with the Ink Business Preferred, compared to just 1 cent each with the Ink Business Premier.

Individuals who are over their 5/24 limit

While most business cards won't contribute to your Chase 5/24 count, you'll likely need to be under 5/24 to qualify for the Ink Business Premier. Not familiar with this rule? Essentially, applicants may be ineligible for any Chase credit card (including the Ink Business Premier) if they've opened five or more credit cards from any issuer in the last 24 months. To improve your chances of approval, it's best to stay below your 5/24 count.

In conclusion

The Ink Business Premier's restriction on transferring rewards to your other Chase credit cards is quite a limitation and won't assist in increasing your point earnings if you planned to include it in your Chase Trifecta setup.

However, it's evident that Chase created this card for businesses that prefer cash back over travel rewards. With an earning potential of up to 2.5% on purchases and no cap on cash back accumulation, the Ink Business Premier presents excellent earning opportunities—but only for the right type of business.