Chase has officially made its newest business credit card available to the public. The Chase Ink Business Premier Credit Card was quietly launched in December 2021 to select customers, but now anyone can apply through the credit card issuer’s website.
The card offers a larger sign-up bonus and better rewards than the other Ink cash-back credit cards, but it also charges a higher annual fee, making it a better option for small businesses with a lot of large expenses.
Key Takeaways
- Chase has officially made the new Ink Business Premier card available to all eligible applicants.
- The card is designed specifically for small business owners with a lot of large expenses.
- Despite its higher annual fee, the card doesn’t offer the benefits of more valuable travel redemptions and transfer partners that the Ink Business Preferred provides.
What to Know About the New Ink Business Premier
The Ink Business Premier Credit Card is a small business credit card that packs a big rewards punch. As a new cardholder, you’ll earn $1,000 when you spend $10,000 in the first three months from account opening.
On an ongoing basis, you’ll earn 5% cash back on travel purchases made through Chase Ultimate Rewards, 2.5% back on every purchase of $5,000 or more and 2% back on all other purchases. With that said, the card charges a $195 annual fee, making the card less attractive for small business owners who don’t make large purchases frequently.
You can redeem your rewards for cash back, gift cards, travel and more, but you won’t get 25% more value on travel redemptions or access to transfer partners like you would with the Ink Business Preferred Credit Card.
Additionally, the card is a charge card, which means you need to pay your balance in full every month unless you opt for a Chase Flex for Business plan on some of your purchases to pay them off over time.
The card also offers:
- No foreign transaction fees
- Trip cancellation and interruption insurance
- Trip delay reimbursement
- Baggage delay insurance
- Primary auto rental collision damage waiver
- Cell phone protection
- Purchase protection
- Extended warranty protection
Is the New Ink Business Premier a Good Deal?
The Ink Business Premier Credit Card is primarily suited for small businesses with a lot of expenses, particularly those that make large purchases of $5,000 on a regular basis.
For comparison, the American Express Blue Business Cash credit card offers 2% cash back on the first $50,000 spent each calendar year, and there’s no annual fee.
To beat that card with the Ink Business Premier’s annual fee, you’d have to spend at least $39,000 on purchases of $5,000 each year to earn the extra 0.5% back. Alternatively, you’d need to spend more than $69,500 in total each year because the Blue Business Cash reverts to 1% back after you hit the $50,000 limit.
Even so, there may be other cards that offer rewards rates that better align with your business expenses and don’t carry such a high annual fee.
As you consider this and other business credit cards, it’s important to consider your company’s spending habits and your general preferences to find the best fit.