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Physician on FIRE has partnered with CardRatings for our coverage of credit card products. Physician on FIRE and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. POF does not include all card companies or all available card offers. Credit Card Providers determine the underwriting criteria necessary for approval, you should review each Provider’s terms and conditions to determine which card works for you and your personal financial situation.
Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed, or approved by any of these entities.

Chase Ink Business Premier Credit Card Review 2024

Editor Deepti Nickam

Terms and Restrictions Apply
Physician on FIRE has partnered with CardRatings for our coverage of credit card products. Physician on FIRE and CardRatings may receive a commission from card issuers.
Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. POF does not include all card companies or all available card offers. Credit Card Providers determine the underwriting criteria necessary for approval, you should review each Provider's terms and conditions to determine which card works for you and your personal financial situation.
Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Ever thought about upgrading your office? Maybe it’s time to replace those squeaky chairs, or perhaps you’re eyeing cutting-edge equipment. Now, picture these plans hitting a roadblock due to your credit card’s spending limits.

Enter the Chase Ink Premier—a card that champions substantial spending—with a potential $500,000 spending limit and 2.5% cash back on purchases over $5,000.

But beyond its spending power, does the Ink Business Premier hold more tricks up its sleeve? And how does this latest Ink addition stack up against its business-centric counterparts? 

Let’s find out. 

 

This article will include:

  • A breakdown of how the Chase Ink Business Premier works. 
  • All you need to know about Chase Ink cash back and fees. 
  • How the Business Premier compares to other Chase Ink cards. 

 

Read more:

 

Learn how to better manage your student loan debt, and explore refinancing to a lower rate with cash back offers up to $1,000! Student Loan Resource Page

 

Chase Ink Business Premier Credit Card: Quick Facts

  • Full name: card_name
  • Who it’s best for: Big business spenders
  • Card issuer: Chase
  • Qualifying credit score: 670 or higher (good to excellent)
  • On FIRE score: 4.6/5

 

Chase Ink Business Premier Credit Card: On FIRE Score

Annual Fee annual_fees 5/5
APR  reg_apr,reg_apr_type 5/5
Intro Offer  bonus_miles_full 5/5
Maximum Rewards Earn 2.5% cash back on large purchases. 3/5
Everyday Rewards Earn 2% cash back on every purchase. 5/5
On FIRE Score 4.6/5

 

What Is the Chase Ink Business Premier Card?

The Chase Ink Business Premier Credit Card is the latest addition to the Ink franchise. Released exclusively for existing Chase Business customers in December 2021, the card is now open for all those keen on solid cash back rewards. 

The Ink Business Premier offers 2.5% cash back on purchases over $5,000 and an unlimited 2% cash back on all other business purchases. There’s also a sign-up bonus of $1,000 cash back when you spend a hefty $10,000 in the first three months. 

And the big numbers don’t end there. This card gives you a minimum monthly spend of $10,000 and a maximum of $500,000 (This credit card obviously isn’t for the more frugal business owners).

 

How Does the Chase Ink Premier Card Work?

Unlike other Chase cards earning Ultimate Reward points, this card focuses solely on cash back. This system works well if you prefer to keep things simple, but the lack of points means your redemption options are limited. 

Here’s a breakdown of Chase Ink Business Premier rewards—

  • 2.5% cash back: Earn 2.5% cash back on purchases of $5,000 or more. So, if you spend $10,000 on a range of fancy laptops, you’ll get $250 in return.
  • 2% cash back: Get unlimited 2% cash back for each $1 spent on all other business purchases. 
  • 5% cash back: You can also get 5% cash back for each $1 spent on purchases through Chase Travel. 

Your rewards are clearly intended to be redeemed for cash back, and that’s where you’ll get the best bang for your buck. Other redemption paths, such as gift cards and travel, fall short in value (giving you only one cent per point)

But wouldn’t it be handy to just transfer your points to other Chase cards for better redemption options? Well, here’s the kicker—you can’t. 

Unlike select Chase cards that let you combine points and redeem them for airline or hotel partners, the Ink Business Premier card stands alone. You can’t use this card to get more Ultimate Rewards points and transfer them to other card accounts, which could be a dealbreaker if you’re looking for more flexible redemptions or travel perks. 

But if you’re a big business spender who’ll benefit from the cash back rewards, this could be a smart choice. Unlike the Ink Business Cash® Credit Card, the Business Premier doesn’t have restrictive earning categories or low spending caps. You’ll also earn more than Ink Business Unlimited® Credit Card, which only offers 1.5% cash back on all purchases. 

Note: The Ink Business Premier is a charge card, so you have to pay your balance in full each month. And if you’re struggling to pay up, you can use Chase’s “Flex for Business”—an extended financing program that lets you pay over several months with interest. 

 

Chase Ink Business Premier Credit Card: Fees

Details Metric
Annual fee annual_fees
Regular APR reg_apr,reg_apr_type
Cash advance fee cash_advance_fee
Foreign transaction fee $0
Late fee $40 or 2% of the minimum payment due, whichever is greater.

 

Chase Ink Business Premier Credit Card: Pros and Cons

 

Pros

  • Cash back rewards.
  • Maximum $500,000 monthly spend.
  • 5% cash back on travel.
  • Purchases and cell phone protection.
  • Employee cards and business benefits.

 

Cons

  • High annual_fees annual fee.
  • Limited redemption options.
  • Points are non-transferable to other Chase cards.

 

Why I like it

 

Cash back rewards

The Chase Premier credit card offers a solid 2.5% cash back on purchases over $5,000 and 2% on all other purchases

And that 2% on everyday purchases is pretty generous, with many other business cards landing around 1% (or 1x points). 

Here’s what you can expect with the 2% cash back—

  • $10,000: $2,400 cash back 
  • $50,000: $12,000 cash back
  • $150,000: $36,000 cash back
  • $250,000: $60,000 cash back
  • $350,000: $84,000 cash back 
  • $500,000: $120,000 cash back

Let’s compare that to the Ink Business Preferred® Credit Card offering a generous 3x points—but only on shipping purchases, travel, online advertising, internet, cable, and phone services (that’s a lot of fine print). 

Unlike the Ink Preferred, the Premier Ink Card lets you earn maximum rewards without constantly checking if your purchases fall into the right categories. The only requirement is that you spend over $5,000 for each purchase—so if your items have different shipping times and charge less than $5,000, you won’t qualify for the 2.5% cash back. 

Keen on more rewards? Check out the best cash back credit cards.

 

Maximum $500,000 monthly spend

The maximum $500,000 spending limit is easily one of the standout features of the card, making it clear that this is for big spenders. So if you decide to splurge the maximum amount, you’ll get a nice $120,000 cash back. 

There’s a small catch. The Ink Business Premier is a charge card, meaning you must pay off the balance in full each month. That’s great news if you want to avoid building up debt—just make sure you pay on time to avoid any late fees. 

 

5% cash back on travel

While redeeming for travel won’t bring you the best value, you can benefit from booking flights and hotels through Chase Travel. 

You’ll earn 5% cash back rewards for each $1 spent. That’s 3% cash back on top of the 2% cash back you’re already earning through everyday purchases.

 

Purchase and cell phone protection

The Ink Business Premier card comes with purchase and cell phone protection, giving you a safety net for your valuable tech gear and business purchases.

You can get up to $1,000 per claim in cell phone protection against theft or damage. You can also cover your employees when you list them on your monthly cell phone bill. But you can only make three claims every 12 months, and Chase cuts $100 per claim. 

Your new purchases will also be covered for 120 days against damage or theft with up to $10,000 per claim and $50,000 per account. And if these items have a warranty of three years or less, you can extend the original warranty by an extra year.

Learn more about credit card perks and insurance benefits

 

Employee cards and business benefits

This card isn’t just for the business owner—it’s got perks for the whole team. You can snag employee cards at no extra cost to keep tabs on team spending while reaping rewards. 

Other handy business benefits include—

  • Account alerts 
  • Expense trackers
  • Quarterly reports 
  • Integration with bookkeeping software

As the Chase Premer Ink is a charge card, you’ll need to pay off your balance every month. But if you can’t make the payment, you can use Chase’s ‘Flex for Business” to pay over several months. 

But a heads up—Chase adds 10.99% to 18.99% to the Prime Rate to figure out the Flex Business APR, so it’s best to avoid this if you don’t want to be stuck with high-interest charges. 

 

Why you may want a different card

 

High annual_fees annual fee

Nobody likes extra fees, so this belongs firmly in the “cons” section. However, with high spending limits and no cash back earning cap, this card is clearly for big business spenders. So, if you’re expenses are in the millions, you’re probably not going to bat an eyelash at this extra cost. 

But you should know that other Chase Business cards come with lower fees. The Ink Business Preferred is $95 a year, while the Ink Business Unlimited and Ink Business Cash come with no annual fees. 

 

Limited redemption options

Initially, the redemption choices look tempting. You can redeem gift cards to over 175 brands, including Apple. There’s also an option to redeem through Chase Travel when booking flights, car rentals, and hotels. But these options are only valued at around 1 cent per point, so it’s best to stick to cash back to maximize your rewards. 

If you’re a frequent business traveler, it’s worth looking at the Ink Business Preferred instead. When you redeem your points through Chase Ultimate Rewards for travel, they gain a 25% value boost. Plus, you can transfer your points to various frequent travel programs at a 1:1 ratio. 

Check out the top travel cards with cash back for more jet-setting perks.

 

Non-transferable points to other Chase cards

Unlike other Chase cards that let you combine points and maximize their potential across various card accounts, the points from the Ink Business Premier card stay put. This seriously limits your options when you want to transfer points for enhanced value.

 

Chase Ink Business Premier Card: Additional Things to Know

 

What is the Chase Ink Business Premier credit limit?

The Chase Ink Business Premier has a minimum monthly spending limit of $10,000 and a hefty maximum of $500,000

But before you get ahead of yourself, remember this is a charge card. So, instead of having a set credit limit where you can carry a balance every month, it operates with a maximum spending cap.

How does this credit limit compare to other Chase Ink Business cards? 

Both the Ink Business Cash and the Ink Business Unlimited have credit limits ranging from $3,000 to $25,000—with the chance to request a higher limit after a review of your business and personal details. The Ink Business Preferred has a slightly higher minimum of $5,000 and a maximum of $25,000. 

Overall, the Ink Business Premier comes out on top—making its mark as a go-to card for big business expenses. 

 

Is Chase Ink Business hard to get?

The Chase Ink Business shouldn’t be difficult to get if your credit score and business are up to scratch. While the elusive Chase Ink Business Premier only used to be available for existing business customers, it’s now open for all.

Chase typically looks for a credit score in the good to excellent range, at least a FICO 670 or higher, to consider approval. Plus, they’ll want to see that your business is making some revenue—it doesn’t have to be millions, but a steady income is a plus.

Once your credit score is in check, you’ll need all your details ready for the application. Here’s what to expect—

Personal details:

  • Name and date of birth.
  • Social security number.
  • Address, email, and phone number.
  • Total annual gross income. 

Business details: 

  • Business structure and name. 
  • Tax ID (EIN, ITIN, or SSN).
  • Number of employees.
  • Business established date. 
  • Business type and NAICS code. 
  • Annual business revenue and estimated monthly spending.

The key is putting your best foot forward when applying. Have your business details ready, make sure your credit score is in good shape, and highlight your business’s financial health.

And don’t forget Chase’s 5/24 rule—you can’t open more than five accounts within 24 months. While being approved for a Chase business card shouldn’t count towards the 5/24 rule, it’s best to stick to this rule to increase your chances of approval. 

How does Chase Ink Business Premier compare to other Chase Ink Business cards? 

Here’s a rundown of the key differences between the Chase Ink Business cards—

  • Ink Business Unlimited Credit Card: Like the Business Premier, this one’s all about simplicity. You’re looking at a flat unlimited 1.5% cash back on every business purchase. While the reward rate is lower, it does include a 0% intro APR for twelve months, a nice perk missing from the Premier.
  • Ink Business Cash Credit Card: This card offers the highest cash back at 5%. But unlike the Business Premier, you can only earn maximum rewards in select categories, such as purchases at office supply stores and phone services. Plus, you’ll only get the 5% and 2% cash back for the first $25,000 spent, after which you’re stuck with the 1%. 
  • Ink Business Preferred Credit Card: This is a great choice for jet-setters, offering points that you can transfer to travel partners for a 1:1 ratio. You can also earn up to 3x points per $1 on the first $150,000 spent and 1 point per $1 after that. But while Ink Preferred offers a higher spending limit than Ink Business Cash, it still comes with restrictive point-earning categories to earn the maximum reward rate. 

And let’s not forget the key difference between the Ink Business Premier and the rest of the Ink family—the ability to transfer and combine points. While the other cards let you move your points around to increase value or open up redemption options, this isn’t the same story for the Business Premier. 

Here’s a side-by-side Chase Ink comparison to help you out—

 

How does Chase Ink Business Premier compare to other Chase Ink Business cards?

Here’s a rundown of the key differences between the Chase Ink Business cards—

  • Ink Business Unlimited Credit Card: Like the Business Premier, this one’s all about simplicity. You’re looking at a flat unlimited 1.5% cash back on every business purchase. While the reward rate is lower, it does include a 0% intro APR for twelve months, a nice perk missing from the Premier.
  • Ink Business Cash Credit Card: This card offers the highest cash back at 5%. But unlike the Business Premier, you can only earn maximum rewards in select categories, such as purchases at office supply stores and phone services. Plus, you’ll only get the 5% and 2% cash back for the first $25,000 spent, after which you’re stuck with the 1%. 
  • Ink Business Preferred Credit Card: This is a great choice for jet-setters, offering points that you can transfer to travel partners for a 1:1 ratio. You can also earn up to 3x points per $1 on the first $150,000 spent and 1 point per $1 after that. But while Ink Preferred offers a higher spending limit than Ink Business Cash, it still comes with restrictive point-earning categories to earn the maximum reward rate. 

And let’s not forget the key difference between the Ink Business Premier and the rest of the Ink family—the ability to transfer and combine points. While the other cards let you move your points around to increase value or open up redemption options, this isn’t the same story for the Business Premier. 

Here’s a side-by-side Chase Ink comparison to help you out—

 

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Find the best Chase card for you

 

How to Maximize Cash Back With the Chase Business Premier Card

Not being able to transfer or combine your points is a real setback if you like to play the points game. But there are some things you can do to make the most out of the rewards and perks with the Ink Business Premier.

 

Focus on big spending

A great way to maximize your rewards is by focusing on the 2.5% cash back on large business purchases. 

Think big-ticket items like high-tech equipment or office supplies. Make sure your purchases total $5,000 or more—if your items have different shipping times and are billed separately at lower costs, you won’t get the maximum 2.5% cash back.

 

Take advantage of the sign-up bonus

Don’t overlook that sign-up bonus—the Business Premier offers $100 more bonus cash back compared to the other Ink Business counterparts. 

To get the $1,000 cash back, you’ll have to spend $10,000 in three months, so make sure your business has a plan in place and is ready to spend this amount when opening the card. 

 

Add employee cards

You can add employee cards at no extra cost to keep track of spending and any questionable purchases. But here’s the trick: you can also use the additional cards to boost your rewards. Remember that employees are classified as authorized users on your account, so you’ll be rewarded with cash back for any purchases they make. 

 

Book travel through Chase Ultimate Rewards

Take advantage of that 5% cash back on travel booked through Chase Ultimate Rewards. If your business involves a fair bit of travel (flights, hotels, or even rental cars), this perk is super handy.

Plus, the card comes with no foreign transaction fees, trip cancellation/interruption insurance, baggage delay insurance, travel assistance, and an auto rental collision waiver for a smoother trip. 

 

Best Cards to Pair With the Chase Ink Business Premier Card

Using the Ink Business Premier makes sense for earning cash back on large business purchases. But if you want to expand your earning potential, here are some cards you can pair it with—

  • Chase Ink Business Preferred: With 3x points up for grabs, you can use this card for more specific purchasing categories, such as shipping purchases, advertising, and phone services. Plus, your points are worth 25% more when you redeem them for travel. 
  • Chase Sapphire Preferred: This everyday rewards card will earn you 3x points on dining, groceries, and streaming services. Plus, it’s a great travel option with 5x points on travel purchased through Chase Ultimate Rewards. 
  • Chase Sapphire Reserve: For top-notch travel rewards, the Sapphire Reserve offers 10x points on hotels and car rentals and 5x points on flights. You’ll also get a range of travel perks, such as $300 annual travel credit and airport lounge access. Just keep in mind that this comes with a pricey $550 annual fee.

 

Alternatives to the Chase Ink Business Premier Credit Card

If you’re interested in expanding your horizons beyond Chase, here are some business card alternatives—

 

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Chase Ink Business Premier Credit Card: Useful Links

 

Is the Chase Ink Business Premier Credit Card Good for Me?

Think about your usual expenses—are they mostly in travel, big purchases, or everyday essentials? If it’s big purchases, the 2.5% cash back can be a game-changer. Plus, with a potential $500,000 spending limit, you have more financial freedom than with other Chase cards. 

There’s also the 5% cash back on travel booked through Chase Ultimate Rewards, a nice deal for business travelers. However, the jet-setter perks are let down by the poor redemption options and being unable to transfer your points to other Chase cards. 

This card appeals to a specific cardholder—business owners with big expenses and an eye for cash back rewards. For those who like to play around with their points and score valuable travel deals, this card probably isn’t the best match.

If you think this could be a business booster, apply here for the Chase Ink Business Premier Credit Card

 

FAQ

 

What credit score do you need for Chase Ink Business Premier?

To up your chances of landing the Ink Business Premier, aim for a credit score of 670 or higher (in the good to excellent range). But remember, credit scores are just part of the puzzle—Chase also considers your business’s revenue, credit history, and financial stability. 

 

Chase Ink vs. Freedom: What’s the difference?

The Ink Business cards cater to business spending, offering rewards tailored to office supplies, travel, and specific business categories. They include the Ink Business Premier, Ink Business Unlimited, Ink Business Cash, and Ink Business Preferred

On the other hand, the Chase Freedom cards are more geared toward personal spending, with rotating quarterly bonus categories and cash back on everyday purchases. These everyday spending cards include Freedom Unlimited, Freedom Flex, and Freedom Rise. 

Looking for a personal credit card? Learn more about Chase Sapphire Preferred vs. Sapphire Reserve.

 

Is Ink Business Premier a good card?

The Ink Business Premier can be a stellar card for business owners with significant business purchases, especially with the 2.5% cash back on items over $5,000. It’s also a great option if you’re looking for solid yet simple cash back rewards to put back into your business. 

However, this card doesn’t offer great value if you’re looking for decent travel redemption options. Plus, you can’t transfer your points to other Chase cards to maximize your Ultimate Reward points—a possible dealbreaker for those trying to accumulate points. 

If you’re not sold, check out more of the top business cards.

 

Our Methodology

Our credit card reviews aim to provide a comprehensive assessment of both quantitative and qualitative factors. The quantitative analysis focuses on the financial costs and benefits associated with each card, including interest rates, fees, rewards programs, cash-back offers, and other monetary perks. However, we also consider qualitative aspects that impact the everyday use and value of the card. These include the simplicity of the application process, the structure of the rewards program, the likelihood of utilizing certain card features, and the suitability of the card for frequent or infrequent use. Our On FIRE rating system allows for quick comparisons between cards within a particular category. When choosing a new credit card, consumers should weigh the quantitative dollar amounts along with qualitative ease-of-use factors to select the best overall option for their needs.

 

A generous and temporarily increased welcome bonus of 80,000 points & Peloton membership credits on the Chase Sapphire Preferred & premium card perks with the Chase Sapphire Reserve!


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Terms and Restrictions Apply
Physician on FIRE has partnered with CardRatings for our coverage of credit card products. Physician on FIRE and CardRatings may receive a commission from card issuers.
Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. POF does not include all card companies or all available card offers. Credit Card Providers determine the underwriting criteria necessary for approval, you should review each Provider's terms and conditions to determine which card works for you and your personal financial situation.
Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

User-Generated Content Disclosure: Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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