Chase Ink Business Premier Card: Good Cash Back, Limited Flexibility

The Chase Ink Business Premier® Credit Card is designed for business owners looking to earn cash-back rewards on everyday purchases. While it offers a solid cash-back rate, the $195 annual fee may seem steep considering the lack of flexibility in redeeming rewards. Unlike other Chase cards that earn Ultimate Rewards points, this card exclusively provides cash back that cannot be transferred to travel partners, limiting its overall value.

New cardholders can earn a generous $1,000 in bonus cash back after spending $10,000 in the first three months. This bonus effectively offsets the annual fee for the first year, making it an attractive option for businesses with significant expenses. However, the relatively high spending requirement for the bonus and the absence of travel-specific perks might lead potential applicants to consider other options.

To increase your chances of approval for the Ink Business Premier, it’s advisable to have a credit score of at least 670. You can also apply using an employer identification number linked to your business credit score.

This card provides unlimited 2% cash back on all purchases, which is a straightforward and reliable earning structure. For larger purchases exceeding $5,000, cardholders can earn 2.5% cash back, which is beneficial for businesses that frequently incur high expenses. Additionally, businesses that book travel through Chase Travel can earn 5% cash back, making it a suitable choice for those who prioritize travel-related expenses.

However, it’s important to note that cash back earned through the Ink Business Premier is tracked as points, with each dollar spent equating to 100 points. When redeeming rewards, each point is worth 1 cent, whether for cash, gift cards, or travel. Unlike other Chase cards, the Ink Business Premier does not allow for the transfer of rewards to travel partners, a significant drawback for those looking to maximize their rewards through travel bookings.

While the card does offer some basic protections and benefits, such as cellphone protection, it lacks many of the travel-specific perks available on other Chase Ink cards, like the Ink Business Preferred® Credit Card, which comes with a lower $95 annual fee. For business owners primarily interested in cash back, these additional benefits may not be as crucial, but the higher annual fee raises expectations for more valuable perks.

In summary, the Chase Ink Business Premier may be a viable option for businesses that prioritize cash back on large purchases and do not require the flexibility of transferring rewards. However, the card’s limitations in redeeming rewards and the comparatively high annual fee may deter many small-business owners. For those seeking to earn travel rewards or maximize their cash-back potential, exploring other credit card options may be a more beneficial choice.

Overall, the Chase Ink Business Premier falls short in comparison to other offerings in the market. If you’re a small-business owner or a freelancer looking to earn rewards, it may be worth your time to consider alternatives that better align with your spending habits and reward goals.