Advertiser Disclosure: Many of the companies featured here provide compensation to us. This is how we maintain our free service. 

Advertiser Disclosure: Many of the companies featured here provide compensation to us. This is how we maintain our free service. Compensation and in-depth editorial research, determines where & how companies appear below. 

Advertiser Disclosure: Many of the companies featured here provide compensation to us. This is how we maintain our free service. 

Advertiser Disclosure: Many of the companies featured here provide compensation to us. This is how we maintain our free service. Compensation and in-depth editorial research, determines where & how companies appear below. 

Chase Ink Business Premier℠ Credit Card Review

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Chase Ink Business Premier℠ Credit Card Review

Boost your business spending power! Apply now and enjoy $1,000 bonus cash back, 2.5% cash back on large purchases, and essential travel protections—all with no foreign transaction fees.

Chase Ink Business Premier℠ Credit Card Review

Chase Ink Business Premier℠ Credit Card Review

Learn More

Boost your business spending power! Apply now and enjoy $1,000 bonus cash back, 2.5% cash back on large purchases, and essential travel protections—all with no foreign transaction fees.

Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Introduction

The Chase Ink Business Premier℠ Credit Card is designed to meet the needs of dynamic businesses, offering a robust cash-back program and enhanced spending power.

Notably, it earns 5 percent cash back on travel booked through Chase and 2.5 percent cash back on larger purchases.

With protection benefits and no preset spending limit, it’s tailored for businesses with substantial expenses and those that prefer to settle their balance in full regularly.

Its hefty welcome bonus further sweetens the deal, making it an intriguing option for business owners looking to maximize rewards on their spendings.

Welcome Bonus

The Welcome Bonus of a credit card can often be a major factor in deciding whether to apply for it or not. For the Chase Ink Business Premier Credit Card, the welcome offer is particularly enticing for businesses that plan on making significant purchases shortly after acquiring the card.

  • Sign-up Bonus: New cardholders can earn a lucrative $1,000 bonus cash back. This bonus is available after spending $10,000 on purchases within the first three months of account opening.
  • Qualifying Purchases: The $10,000 spending requirement includes nearly all types of purchases, giving businesses the flexibility to earn the bonus in the way that best suits their spending habits.
  • Time Frame: With a three-month window to meet the spending threshold, businesses can plan their purchases accordingly to ensure they qualify for the bonus without disrupting their cash flow.
  • Bonus Redemption: The cash back earned from the welcome bonus can be applied as statement credits to offset future purchases, effectively reducing the cost of business expenses.
  • Strategic Sign-Up: Businesses can time their credit card applications around large purchases or capital expenditures to hit the required spending threshold more easily.

This welcome bonus is particularly useful for businesses with upcoming high-ticket expenditures. It allows companies to earn a substantial return on their initial spending and injects additional cash flow back into the business. Businesses should, however, ensure that they can meet the spending requirement without overextending their budgets.

Earning Rewards

The Chase Ink Business Premier Credit Card offers a versatile rewards program tailored to accommodate both routine and high-volume business purchases. Here’s a closer look at how businesses can maximize their cash back:

  • Large Purchases: Earn a remarkable 2.5% cash back on every large purchase of $5,000 or more. This rate is particularly beneficial for businesses that frequently make bulk purchases or invest in significant capital expenditures.
  • General Business Purchases: All other business purchases earn an unlimited 2% cash back. This includes everything from office supplies and advertisement to utilities and professional services, ensuring a generous return on everyday business expenses.
  • Travel Rewards: When booking travel through the Chase travel portal, businesses can earn an exceptional 5% cash back, adding significant value for companies with regular travel needs.
  • No Caps or Categories: The Chase Ink Business Premier℠ card does not impose any caps on the total cash back earned or require tracking spending across different categories, which simplifies the rewards process.

To further break it down:

  • Everyday Spending: For simplicity, all purchases earn at least 2% back without having to worry about specific spending categories or quarterly activations.
  • Easy Tracking: Businesses can easily monitor and manage their cash-back earnings through Chase’s online portal, maintaining clear visibility over their rewards.
  • No Expiry: Reward points earned with the Ink Business Premier card do not expire as long as the account remains open and in good standing, allowing businesses to accumulate and utilize rewards at their own pace.

These features make the Chase Ink Business Premier℠ an attractive card for businesses with a high spend. The cash back earned can serve as a discount on future purchases or as an investment back into the business. It’s a solid choice for those looking to simplify their rewards while still earning significant returns on every dollar spent.

Redeeming Rewards

Cashing in on the rewards you’ve earned with your Chase Ink Business Premier Credit Card is straightforward and offers several options to enhance the card’s value. Let’s take a look at the ways in which you can redeem your cash back:

  • Statement Credits or Cash: Redeem rewards as a statement credit directly against your card’s balance, effectively reducing the amount you owe. Alternatively, cash back can be deposited straight into an eligible checking or savings account.
  • Ultimate Rewards® Portal: Via the Chase Ultimate Rewards® portal, you can use your cash back for a variety of options, including booking travel or purchasing gift cards from a wide range of retailers.
  • No Minimum Redemption: One of the card’s best features is that there is no minimum redemption amount, meaning you can redeem any amount of cash back at any time.
  • No Expiration: As long as your account remains open, your rewards won’t expire, giving you the freedom to redeem them when it’s most convenient or beneficial for your business.

Maximizing Redemption Value

To ensure you get the most out of your cash back:

  • Strategic Redemption: Plan your redemptions around future expenses or significant outlays to offset costs effectively.
  • Gift Cards and Shopping: Occasionally, promotional offers may increase the value of points when redeeming for gift cards or when shopping with select retailers. Keep an eye out for these deals to stretch the value of your cash back further.
  • Combine with Other Chase Cards: If you also have other Chase cards that earn Ultimate Rewards points, like the Chase Sapphire Preferred® or Ink Business Preferred® Credit Card, you cannot directly transfer points from the Ink Business Premier card to combine them. However, you can use the cash back earned on the Ink Business Premier to offset purchases that you then earn points on with your other Chase cards.

Simple Redemption Process

Redeeming rewards is user-friendly and can be done through the Chase mobile app or website:

  • Chase Mobile App: Log in to your account, navigate to the rewards section, and choose your redemption option.
  • Chase Website: Access your account online, go to the Ultimate Rewards® portal, and pick from the available redemption choices.

In conclusion, the Chase Ink Business Premier℠ Credit Card’s redeeming process offers flexibility and convenience. With no minimum redemption and no rewards expiration, businesses can choose the best time and manner to redeem their points for maximum benefits.

Perks and Benefits

The Chase Ink Business Premier℠ Credit Card isn’t just about cash back; it comes packed with a range of perks and benefits that extend its value far beyond simple rewards earning. Here’s a look at some of the additional cardholder benefits:

  • Travel Protections: Cardholders can travel with peace of mind thanks to benefits like Trip Cancellation/Interruption Insurance, and Trip Delay Reimbursement. These protections can save businesses significant money and hassle if travel plans are disrupted.
  • Purchase Protection: The card extends protection on new purchases against damage or theft for 120 days—up to a limit of $10,000 per claim and $50,000 per account annually, offering added security for business purchases.
  • Extended Warranty Protection: This benefit adds another layer of security by extending the U.S. manufacturer’s warranty on purchased items, providing additional value and confidence in your business investments.
  • No Foreign Transaction Fees: Businesses can make purchases abroad without incurring additional fees, making this card an excellent companion for international transactions.
  • Employee Cards: Issue employee cards at no additional cost and earn rewards from their purchases, with the ability to set individual spending limits and monitor activity.
  • Flex for Business: Chase’s Flex for Business allows for greater control over payments, with the option to carry a balance with interest on eligible purchases or pay in full each month.

All of these perks come at an annual fee of $195, which can be easily offset by the rewards and benefits if your business spending aligns well with the card’s reward structures.

Additionally, with Chase’s exceptional customer service, business owners are supported with any inquiries or issues that may arise, ensuring that cardholder needs are met promptly and efficiently.

The Chase Ink Business Premier℠ stands out for its amalgam of rewards, protections, and operational benefits, making it not just a credit card, but a comprehensive financial tool for businesses. Whether it’s for high-volume purchasing, employee spending, or travel, the Ink Business Premier provides benefits that can contribute to the smooth operation and financial efficacy of your enterprise.

Pros and Cons

Every credit card comes with its set of advantages and drawbacks, and the Chase Ink Business Premier Credit Card is no exception. Here are some key pros and cons to consider:

Pros:

  • High Cash Back on Large Purchases: Unmatched 2.5% cash back on purchases of $5,000 or more caters to high-spend businesses.
  • Solid Flat-Rate Rewards: Earn an unlimited 2% cash back on all other purchases without worrying about categories or caps.
  • Welcome Bonus: The substantial welcome bonus of $1,000 after spending $10,000 in the first three months is a lucrative offer.
  • No Preset Spending Limit: Flexibility with spending for businesses with varying monthly expense patterns.
  • Travel and Purchase Protections: Valuable insurance coverages that can save money and provide peace of mind.
  • No Foreign Transaction Fees: Great for businesses with international transactions.

Cons:

  • Annual Fee: The $195 annual fee may deter some smaller businesses that are fee-averse or have lower spending patterns.
  • No Points Transfer: Rewards earned can’t be transferred to Chase’s airline and hotel partners for potential extra value.
  • Reward Redemption Flexibility: Unlike some of Chase’s other business cards, rewards earned are non-transferable Ultimate Rewards points, limiting some redemption options.

In summary, the Chase Ink Business Premier℠ Credit Card is potentially a great value for businesses that have significant spending, especially on large purchases, and can utilize the suite of benefits to offset the annual fee. However, businesses that have lower expenses, seek point transfer capabilities, or prefer no annual fee cards might look for other options.

Comparison to Other Cards

When considering the Chase Ink Business Premier℠ Credit Card, it’s important to understand how it compares to other business credit cards in the market. Let’s compare the Ink Business Premier with a few notable competitors:

Chase Ink Business Unlimited® Credit Card:

  • Fee: $0 annual fee compared to the $195 fee for Ink Business Premier.
  • Rewards: Offers unlimited 1.5% cash back on every purchase versus 2% on all purchases and 2.5% on purchases of $5,000 or more with the Ink Business Premier.
  • Welcome Bonus: The Ink Business Unlimited often features a different welcome bonus, which may be lower than the Ink Business Premier’s $1,000 cash back.

American Express® Business Gold Card:

  • Earning Structure: The Business Gold Card offers 4X points on the two categories where your business spends the most each billing cycle, on the first $150,000 in combined purchases from these two categories each calendar year.
  • Annual Fee: It comes with a $295 annual fee, $100 higher than the Ink Business Premier.
  • Variable Rewards: Rewards can be more lucrative in certain spending categories but are capped, unlike the no cap benefits from Ink Business Premier.

The Blue Business® Plus Credit Card from American Express:

  • Fee: No annual fee and offers 2X Membership Rewards points on everyday business purchases up to $50,000 per year, then 1X points thereafter.
  • Flexible Rewards: Points can be more versatile than the cash back from the Ink Business Premier.
  • Interest-Feature: Offers a 0% introductory APR on purchases for the first 12 months from the date of account opening, subject to credit approval.

Capital One® Spark® Cash for Business:

  • Rewards: Features unlimited 2% cash back for your business on every purchase.
  • Fee: The Spark Cash for Business typically has a lower annual fee than Ink Business Premier and sometimes waives it for the first year.

In conclusion, the Ink Business Premier may appeal to businesses with high-volume and large individual purchase needs due to its higher cash back rates on such transactions. Its robust welcome bonus and travel benefits also make it a strong contender. However, for businesses looking to avoid annual fees, cards like the Chase Ink Business Unlimited or The Blue Business Plus from American Express might be more fitting. Additionally, those seeking to earn transferable points for travel rather than cash back may prefer options like the American Express Business Gold or The Blue Business Plus.

Conclusion

The Chase Ink Business Premier℠ Credit Card offers excellent value for businesses with high spending needs, particularly for those that often make substantial individual purchases. Its generous cash back rates, valuable travel and purchase protections, and the potential to cover the annual fee through earned rewards make it a compelling choice. While the lack of transferable rewards may be a downside for some, the simplicity and earning potential of the card are likely to outweigh this for many businesses. Overall, the Chase Ink Business Premier℠ is best suited for businesses looking for a straightforward, high-earning cash back card.

Frequently Asked Questions

What is the best way to maximize rewards with a business credit card? Maximizing rewards on a business credit card can be achieved by aligning the card’s reward structure with your company’s spending habits, ensuring that you earn the highest returns on your most common expenses.

Can employee credit card spending help me earn more rewards? Absolutely. By providing employees with authorized user cards and ensuring all business spending is funneled through these cards, you can accumulate rewards from their purchases as well – often leading to faster rewards accumulation.

Are the protections offered by business credit cards worth the fees? For many businesses, the insurance protections such as purchase protection and travel insurance can provide significant savings and peace of mind, often justifying any associated fees.

How important is it to consider a card’s welcome bonus when applying? A card’s welcome bonus can offer a significant rewards boost, especially in the first few months. It’s an important consideration when comparing cards, as it can equate to a considerable rebate on your initial spending.

Does a high annual fee mean a credit card is a bad deal for my business? Not necessarily. While a high annual fee needs to be considered, it’s more important to weigh the overall benefits and rewards earning potential of the card against the fee to determine if it offers net positive value for your business.

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