Chase Ink Business Premier Credit Card Review 2023

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The Ink Business Premier Card 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. 

Chase Ink Business Premier Review: Is It 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.

The Ink Business Premier Card was originally only open to Chase for Business customers with an existing Business Relationship Manager when it was unveiled in late 2021, 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 Portal
• 2.5% 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.

Ink Business Premier Card Rewards

Welcome Bonus

The Ink Business Premier Card offers a welcome bonus of Ink Business Premier Card - Intro Bonus. If your business can meet that spending requirement, this is a valuable welcome offer — and as we'll get into below, there are more ways to use this bonus than just redeeming as cash back.

How to Earn Rewards

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 Rewards
• Unlimited 2.5% cash back on large purchases of $5,000 or more
• Unlimited 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 Portal
• The no-annual-fee Wells Fargo Active Cash® Card earns 2% cash rewards on 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 

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 each
• Convert 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 card
• The 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. 

Ink Business Premier Card 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).

Ink Business Premier Card Annual Fee and Other 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. 

As far as other fees go, the Ink Business Premier Card charges the following in certain circumstances: 

• Cash advance: Either $15 or 5% of the amount of each transaction, whichever is greater
• Late payment: $40 or 2% of the minimum payment due, whichever is greater

Comparison: Ink Business Premier vs other Chase Ink cards

Ink Business Premier vs other cash-back small-business cards

Chase Ink Business Premier Frequently Asked Questions 

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.

Methodology: How We Reviewed the Ink Business Premier Card

To evaluate the Ink Business Premier Card, we compared it to other business credit cards and focused on several critieria, including: 

• Simplicity — How easy is it to use the card? Is earning and redeeming rewards straightforward?
• Earning potential — Can the average user earn significant rewards based on the card's earning structure and bonus categories?
• Annual fee — Is the card's annual fee reasonable considering its benefits?
• Benefits — Beyond the welcome bonus and rewards, does this card offer useful and valuable benefits?

See our full methodology for rating credit cards for more info.