Chase Ink Premier Business Review: Is it the Best Cash Back Card?

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Business owners who spend thousands of dollars on monthly expenses should get a business credit card that earns cashback for every purchase they make. 

However, there are several business credit cards in the market, and it can be difficult to pick one that suits your needs. You’d have to consider multiple factors such as annual fees, rewards categories, insurance benefits, etc.

In this review, we’ll feature the Chase Ink Business Premier℠ Credit Card, one of Chase bank’s latest addition to its co-branded card lineup. 

Previously, only existing Chase for Business Customers was eligible to apply for this card, so it’s good to hear that it’s now available to all.

We’ll discuss everything you need to know about the Chase Ink Premier Business card and help you decide if it’s perfect for you.

Ink Business Premier Credit Card
  • Earn a $1,000 Bonus Cash Back After Spending $10,000 on Purchases in the First 3 Months
  • 2.5% Cash Back on Purchases of $5,000 or More
  • 2.0% Cash Back on All Other Business Purchases
  • Purchase Protection and Extended Warranty
  • Cell Phone Insurance and Rental Car Insurance
  • $195 Annual Fee

Click Here to Learn How to Apply

Chase Ink Premier Welcome Bonus

New cardholders of the Chase Ink Premier Business Card will get a welcome bonus of $1,000 cashback after spending $10,000 on your card within the first three months of account opening.

The spending requirement is reasonably easy to reach since most businesses spend thousands of dollars per month on utilities, travel, and advertising expenses alone. 

You can still apply for the Ink Premier Business Card and get the welcome bonus even if you already have other Chase business cards.

Just be mindful of the Chase 5/24 rule when you apply. It’s Chase’s “unofficial rule” wherein credit card applicants don’t get approved if they open five or more new credit card accounts in the last 24 months.

This card’s annual fee is $195, the highest among all Chase business cards. 

Alternatively, Chase offers several other business cards with lower annual fees:

Earning Cashback

The Chase Ink Premier Business card has a simple yet solid rewards structure. Here are the rates at which cardholders can earn per dollar spent:

  • Earn 2.5% cash back for every purchase of $5,000 or more.
  • Earn 2.0% cash back on all other business purchases.
  • Earn 5% cash back on travel purchased through Chase Travel Portal.

As you can see, it doesn’t have complicated rotating categories like other cashback cards have, yet the earning rates are reasonably competitive.

There’s also no spending limit on each reward category, so you can earn as many points on your purchases.

Other Chase cards usually have a spending limit, such as the Ink Business Cash® Credit Card, which has a $25,000 limit per year for its 5% cash back on office supply stores and on internet, cable and phone services each account anniversary year.

  • Deals Points Tips

    If you can make two single $5,000-transactions in a year, you can offset the cost of your card's annual fee.

Chase Ink Premier Card Benefits

The Chase Ink Premier Business card comes with a plethora of travel protection, purchase protection, and account management benefits that can be very beneficial for your business.

Free Employee Cards

You can add employee cards to your card account for free. You can even set spending limits and monitor all transactions made from their cards. All of this can be done through your card’s online account.

Rental Car Insurance

This card offers primary rental car insurance when you rent either (1) for business purposes in almost every country worldwide, (2) renting outside your country of residence for personal reasons, or (3) if you don’t have automobile collision insurance.

Primary rental car insurance covers any damage to a rental car when you pay for the rental using this card. 

But you still need to maintain liability car insurance to cover damage to another person or property.

Rental Car Insurance
Photo: Hertz

Purchase Protection

Purchase protection can save you a lot of money if you bought an eligible item that is damaged or stolen within 120-days.

For example, if accidentally dropped your new phone or laptop and broke the screen, you could file a claim to get it replaced if it was purchased within the last 120 days.

Coverage for this benefit is limited to $10,000 per claim and up to $50,000 per cardholder.

Extended Warranty

Credit card extended warranty protection adds up to an additional year of coverage for eligible purchases on manufacturer’s warranties up to 3 years.

Coverage matches the protection provided by the original warranty so that damage or defect would have to be covered by the original warranty for extended warranty coverage.

The maximum coverage is $10,000 per item and $50,000 per cardholder.

For example, if you bought a TV with a manufacturer’s warranty of three years, then this card would extend the warranty for free to the fourth year.

But if the TV comes with a four or five-year warranty, you should consider using an American Express or Citi credit card, which covers warranties up to 5 years.

Cellphone Protection

Breaking or losing your cell phone is never a pleasant experience, especially when cell phones cost over $800+ to replace.

You can avoid paying these steep costs when you pay your cell phone bill with this credit card.

There is no cost for cell phone insurance saving you about $10 per month per phone, but you will have to pay a small deductible if you make a claim. 

There is a limit of $1,000 coverage per incident for damage or theft, up to 3 claims per year with a $100 deductible per claim.

What’s great about this benefit is that it also covers employee cell phones. However, the claims are deducted from the primary cardholder. If your employee made one claim, you only have two left for the remaining calendar year. 

Credit Card Purchase Protection Broken Phone

Trip Cancellation and Trip Interruption Insurance

When you’re planning a trip, the last thing you want to worry about is whether or not your travel plans will be covered if something goes wrong. That’s where credit card trip cancellation and interruption insurance comes in.

Trip cancellation and interruption insurance reimburse you for non-refundable expenses if your trip is interrupted or canceled for a covered reason such as illness, severe weather, or an accidental injury. 

To be eligible for trip cancellation and interruption insurance, you’ll need to pay for your travel expenses using this card.

Travel is crazy enough without having to worry about being out of pocket if something goes wrong, so I always suggest booking all travel with a card that offers travel protections.

If you used your card to pay for an eligible trip, you could get up to $5,000 per trip if your trip was canceled or interrupted for eligible reasons.

Trip Delay Reimbursement

You should always buy flights with a credit card that offers trip delay insurance, which reimburses you for things like hotels, food, transportation, and other necessary items.

Flights are increasingly delayed or canceled, and it is too risky to not use card that offers free trip delay insurance. Plus, airlines frequently blame delays on weather or an external factor to get out of paying compensation to passengers.

This benefit can really come in handy during a delay. While other passengers are worried about where to sleep and eat, you can book a nice hotel of your choice and enjoy some nice meals, without worrying about the cost.

Trip Delay - Airport Snow

Baggade Delay Insurance

Pay for baggage fees using your card, and you can get a reimbursement of up to $100 per day (maximum of 5 days) if your baggage was delayed for more than 6 hours.

The reimbursement lets you purchase essential items such as toiletries, chargers, and clothes, while you’re waiting for your baggage.

Roadside Dispatch

Call 1-800-847-2869 anytime if you have a roadside emergency. Services include towing, jumpstart, tire change, lockout service, winching, or gas delivery. The prices of each service will be determined during the call and will be automatically billed to your card. 

24/7 Travel & Emergency Assistance

Get a dedicated 24/7 hotline for emergency transportation services, translation referral services, medical or legal referrals, and other assistance while you’re traveling. Just call the Benefit Administrator at 1-800-935-9935. See the complete list of Chase contact numbers here.

Remember that the primary cardholder will shoulder all the costs of the services received.

Redeeming Rewards

Cash back points earned from the Chase Ink Premier Business card can not be converted into Ultimate Rewards Points.

Cardholders can only redeem the cashback they’ve earned towards:

  • Cashback No minimum amount is required. Cashback redemptions can be credited to your credit card account or transferred to your Chase savings or checking account. 

  • Travel – Cashback points can be redeemed for travel at 1 cent apiece through the Chase Ultimate Rewards travel portal.
  • Shopping – While we don’t recommend this redemption, you can redeem your cashback points at a value of 0.8 cents apiece on Amazon or Paypal.
  • Gift Cards – Redeem your cashback points for gift cards.

Chase released a statement on why they removed the points transfer option for the Chase Ink Premier Business card, and they said that the card already has a “rich rewards earn potential.” 

We can assume that it’s the company’s way of keeping the expenses down since the 2% and 2.5% unlimited cashback is a competitive rate for a cashback card. But still, what a bummer, right? 

For those of you that don’t know, most Chase cashback cards credit cards allow you to convert your cashback points into Ultimate Rewards Points.

For example, if you have an Ink Business Cash Credit Card or an Ink Business Unlimited Credit Card, you can transfer the cashback you’ve earned to another points-earning Chase card you have, such as the Chase Sapphire Reserve or the Chase Ink Business Preferred.

You’ll then get Ultimate Rewards Points which can be transferred to Chase transfer partners like British Airways, United Airlines, Marriott, and many more. Having Ultimate Rewards Points gives you redemption flexibility, potentially maximizing your points’ value.

With all that was said, we think that the Chase Ink Premier Business card was intended for businesses who want cashback, not award redemptions.

  • Deals Points Tips

    How much are Chase points worth? Well, it depends on what redemptions you make and what card you used to earn them. However, they typically cost around 1 to 1.9 cents apiece.

Business owner ordering goods
The Ink Premier Business card is perfect for business owners who make lots of big single-purchase transactions in a year.

Pros & Cons

Here’s a quick overview of this card’s advantages and disadvantages.

Pros:

  • The card has a solid welcome offer.
  • The card comes with a high and unlimited cashback rates compared to other Chase cashback cards and competing cards.
  • Offers one of the best cellphone protection benefits, plus other purchase and travel protections.

Cons:

  • Cashback points earned from your card cannot be transferred to other loyalty programs.
  • Cashback points earned from your card cannot be transferred to other Ultimate Rewards Points-earning cards.
  • The card has a high annual fee.

Alternatives to the Ink Premier Business

Now that you know about the pros and cons of this card and its benefits, it’s time to review the alternatives.

Or, if you are like me, who loves to maximize my rewards, here are other cards you should add to your wallet: 

 Ink Business Preferred® Credit Card

100,000 Welcome Bonus Points
Ink Business Preferred® Credit Card
  • Earn 100,000 Ultimate Rewards Points After Spending $15,000 in Purchases in the First 3 Months
  • 3X Points on Travel, Shipping, Advertising (Social Media and Search Engines), Internet, Cable, and Phone on the First $150,000 Each Account Year
  • 25% Additional Points Value in Travel Redemption
  • Primary Rental Car Insurance
  • Trip Cancellation/Interruption Insurance
  • Cell Phone Protection
  • Purchase Protection and Extended Warranty
  • No Foreign Transaction Fees
  • $95 Annual Fee

Click Here to Learn How to Apply

The Ink Business Preferred® Credit Card is a versatile business rewards card earning 3x Chase Ultimate Rewards points on up to $150,000 in combined purchases per year in business categories, including shipping, online advertising, internet, phone, and travel. 

This business card offers a lucrative bonus of 100,000 points worth $1,000 cash back or $1,250 when redeemed toward travel via Chase.  

For $95 per year, the Chase Ink Business Preferred offers comprehensive protection, including trip cancellation insurance, trip delay insurance, primary rental car insurance, purchase protection, cell phone insurance, and extended warranty.

American Express Blue Business Cash™ Card

No Annual Fee
American Express Blue Business Cash™ Card
  • Earn a $250 Statement Credit After $3,000 in Eligible Purchases in the First 3 Months
  • 2% Cash Back On Up to $50,000 Per Year (1% Thereafter)
  • 0% Intro APR on Purchases for 12 Months. After that, a variable rate of 17.74% – 25.74% applies.
  • No Annual Fee (Rates and Fees)
Learn More Our Review
American Express is a Deals Points Advertiser; Terms Apply

The American Express Blue Business Cash™ Card offers simple, straightforward rewards for no annual cost. 

This zero-annual-fee card earns a flat 2% cash back rate on all qualifying purchases up to $50,000 each year (1% thereafter).

Offering an expanded buying power, the Blue Business Cash gives your business the flexibility to spend above your credit limit for your business expenses. 

Ink Business Unlimited® Credit Card

$900 Welcome Bonus
Ink Business Unlimited® Credit Card
  • Earn $900 Bonus Cash Back After Spending $6,000 in the First 90 Days
  • Unlimited 1.5% Cash Back on Every Purchase
  • Primary Rental Car Insurance
  • Purchase Protection and Extended Warranty
  • No Annual Fee

Click Here to Learn How to Apply

The Ink Business Unlimited® Credit Card is a no-annual-fee card that earns 1.5% cash back on all purchases, with a huge welcome bonus of $900 after spending $6,000 in the first 90 days.

It also pairs well with the Chase Sapphire Preferred or Chase Sapphire Reserve, which unlocks the ability to convert the Ink Business Unlimited cash back to airline or hotel points from any of Chase’s transfer partners.

This combo allows you to effectively earn 1.5 airline miles per dollar with this card, which is worth more than 1.5% cash back.

Is The Chase Ink Premier Business Card Worth It?

The Chase Ink Premier Business is worth it for businesses that want to earn cash back and make several large purchases each year to offset the $195 annual fee.

For example, an $8,000 purchase earns $200 cash back at 2.5%, which would offset the annual fee.

But if you want to earn points and have the flexibility to transfer those points to multiple loyalty programs, then you should consider a card like the Ink Business Preferred® Credit Card (review).

Ink Business Premier Credit Card
  • Earn a $1,000 Bonus Cash Back After Spending $10,000 on Purchases in the First 3 Months
  • 2.5% Cash Back on Purchases of $5,000 or More
  • 2.0% Cash Back on All Other Business Purchases
  • Purchase Protection and Extended Warranty
  • Cell Phone Insurance and Rental Car Insurance
  • $195 Annual Fee

Click Here to Learn How to Apply

For rates and fees of the American Express Blue Business Cash™ Card, please click here.

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