Businesses come in all shapes and sizes — so whether you own a fine dining restaurant, a nimble startup or an online consulting agency, there are plenty of opportunities to maximize your daily operating expenses with a small-business credit card.
With a $195 annual fee, the Ink Business Premier® Credit Card Earn unlimited 2% cash back on every purchase, unlimited 2.5% on large purchases of $5,000 or more and unlimited 5% cash back on travel booked through Chase Ultimate Rewards.
In this guide, we’ll look at the card’s other ongoing benefits to determine who it might be right for.
Main benefits
New applicants approved for Ink Business Premier will receive a welcome bonus of $1,000 cash back (in the form of 100,000 Ultimate Rewards points) after spending $10,000 on eligible purchases within the first three months of account opening.
However, unlike other Ink Business credit cards, Ink Business Premier mainly Business Cash-Back Card. Therefore, the points you earn with it are not transferable to the Ultimate Rewards program’s airline and hotel partners, such as United MileagePlus, Southwest Rapid Rewards and World of Hyatt.
Unfortunately, the points you earn with Ink Business Premier cannot be transferred to other Ultimate Rewards accounts, even if you have another Chase card. However, you can transfer points from other Chase Ultimate Rewards accounts to an account linked to your Ink Business Premier Card and redeem them from there. But there are some reasons why you might not want to do that, which we’ll get to below.
You will also find the following:
- A flex facility for business that allows cardholders to pay for eligible purchases over time with interest, giving them access to greater payment flexibility
- Up to $1,000 in cellphone coverage per claim, up to three claims per year and a $100 deductible per claim
With all this in mind, let’s take a look at the people who can benefit the most from this card.
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Who Should Get Inc Business Premier?
Businesses with large operating costs
As one of Chase’s premium business credit cards, it’s clear that Ink Business Premier is geared toward businesses that have thousands of dollars in operating expenses per year.
First, you’ll need to spend $10,000 in the first three months to unlock the $1,000 cash-back bonus.
Another consideration is the $195 annual fee. While not expensive, it’s still over $100 For example, the Ink Business Preferred® Credit Card, so anyone who applies wants to make sure they can cover the costs through their cash-back earnings each year. Considering the bonus categories of this card, it shouldn’t be difficult to complete.
Chase’s Flex for Business payment feature is also designed for business owners who need more flexibility to make large purchases and plan payments over time.
Someone who already has an Imperial Business Cash Credit Card
The Ink Business Premier pairs well with the no-annual-fee Ink Business Cash® Credit Card because the latter offers valuable bonus categories on business-focused purchases — but only up to a certain limit.
Ink Business Cash cardholders can earn 5% on office supply stores and Internet, cable and phone services, but only up to the first $25,000 spent per account annually.
You can then transfer all your rewards earned from Ink Business Cash to Ink Business Premier, but note that this will not work the other way around. However, the flat-rate, unlimited 2% earning rate on Ink Business Premier can be worth taking advantage of if you’ve maxed out the spending limit on Ink Business Cash and, of course, earn points on those business purchases outside of this bonus category. come on
Who Shouldn’t Get Ink Business Premier?
Small businesses or self-employed individuals
Ink Business Premier falls short for business owners who don’t incur thousands of dollars in annual expenses. Fortunately, Chase’s other business card options are a better fit. These cards offer great earning potential for a fraction (or none) of the cost of Inc Business Premier.
Someone who wants to double earning transferable Chase Ultimate Rewards points
As mentioned above, rewards earned on the Ink Business Premier are not transferable to your other Ultimate Rewards-earning cards. This comes as a big disappointment to many because you can combine rewards earned on other Chase cash-back cards and then transfer them to the Ultimate Rewards program’s airline and hotel partners.
Regardless, if you’re hoping you’ll want to pass apply for Ink Business Premier. Unlock thousands of Ultimate Rewards points with this card.
If you want to redeem your Ultimate Rewards points directly for travel booked through Chase, Ink Business Preferred may still be a better choice. That’s because, specifically for this redemption, your points would be worth 1.25 cents with Ink Business Preferred, but only 1 cent with Ink Business Premier.
RELATED: Why doubling down on one rewards program may be better than diversifying
Someone who is above their 5/24 standing
While most business cards won’t add to your Chase 5/24 count, you must be under 5/24 to qualify for the new Ink Business Premier. Unfamiliar with this rule? Essentially, applicants may not qualify for a Chase-issued credit card (not just Inc Business Premier) if they have opened five or more credit cards from any issuer in the past 24 months. In any case, to increase your chances of approval, you’ll want to stay under your 5/24 count.
Bottom line
Ink Business Premier’s inability to transfer your rewards to your other Chase credit cards is rather limited and won’t help you earn more points if you’re hoping to roll them over to yours. Chase the trifecta cards.
Still, it’s clear that Chase developed this card to target businesses that aren’t interested in travel rewards and would rather earn cash back. With an earning rate of up to 2.5% on purchases and no limit to how much cash you can raise, Ink Business Premier offers excellent earning potential — but only for the right business.
Apply here: Inc Business Premier Credit Card