Is the Chase Ink Business Premier worth it?

When it comes to rewards earning potential, the Chase Ink Business Premier® Credit Card does not disappoint.

Compared to other business credit cards on the market, the Ink Business Premier offers enticingly high rates. But it does come with one significant consideration, especially for people used to pooling Chase Ultimate Rewards across cards: It earns cash back instead of flexible Ultimate Rewards points.

This may work just fine for you and your business, or it could be an absolute deal-breaker. Read on to learn when the Chase Ink Business Premier card can be worth it, when it’s not worth it and who this business card is typically best for.

When is the Chase Ink Business Premier worth it?

The Chase Ink Business Premier Credit Card can definitely be worth it in the long run, but only in specific circumstances. Here are some scenarios where it could be the best business credit card for your wallet.

Your business spends a ton of money each month

If your business spends a lot of money each month or makes an array of purchases over $5,000, Ink Business Premier could be ideal for your needs. This card offers 2.5 percent cash back on purchases of $5,000 or more, as well as 2 percent cash back on your other spending. Plus, you get 5 percent back on travel booked through Chase.

Compare that to the next-closest flat-rate business credit card from Chase, the Ink Business Unlimited® Credit Card, which offers just 1.5 percent cash back on all spending. If your business spends $10,000 per month on plastic, including one purchase of $5,000, you would earn $225 in cash back each month with the Ink Business Premier and just $150 per month with the Ink Business Unlimited.

That translates into $2,700 in cash back with the Ink Business Premier over the course of one year and just $1,800 in cash back with the Ink Business Unlimited — a huge difference.

You want flexible rewards, but not necessarily for travel

The Ink Business Premier offers cash back on your spending, but you can redeem your rewards for more than just statement credits. In fact, this card lets you cash in rewards for gift cards, merchandise, travel through Chase and even purchases made on Amazon.com or PayPal.

However, unlike some Chase business cards (like the Ink Business Preferred® Credit Card), rewards earned with the Ink Business Premier card can’t be transferred to travel partners for additional value. Additionally, although the card earns boosted rewards on travel purchases booked through Chase, it is ineligible for boosted redemption rates when you use your rewards to book through the portal.

Further, you can’t combine the rewards you earn with this card alongside rewards earned with other Chase Ultimate Rewards-earning cards.

Paying an annual fee doesn’t bother you

The Ink Business Premier charges a $195 annual fee, whereas several Chase business credit cards don’t charge one at all. That said, paying the annual fee on this card can be well worth it if your business spends a lot on purchases each month.

You don’t need an intro APR for purchases

Finally, remember that the Chase Ink Business Premier does not have an introductory APR for purchases, whereas Ink Business Unlimited and the Ink Business Cash® Credit Card do. Due to its high APR, you should only choose the Chase Ink Business Premier Credit Card if you know you can pay your credit card balance in full each month.

When is the Chase Ink Business Premier not worth it?

While the reasons above are good ones in favor of getting this card, there are definitely scenarios where the Ink Business Premier does not make sense. These include the following:

You want to be able to transfer points to airline and hotel partners

If you want to be able to transfer your rewards to Chase airline and hotel partners, the Ink Business Premier is not for you. This card lets you use cash back to book travel through the Chase portal, but you cannot transfer points to partners like Marriott Bonvoy, Southwest Rapid Rewards, United MileagePlus or World of Hyatt.

You have other Chase cards and love combining your rewards in one account

If you have other Chase credit cards, including ones that earn Chase Ultimate Rewards points that transfer to airlines and hotels, you should know that the Ink Business Premier will not let you combine your rewards.

That makes it different from other Chase credit cards, even those marketed as earning “cash back,” and it’s a major downside.

Paying an annual fee is out of the question

If you don’t want to pay an annual fee for a business card, the Ink Business Premier is not the best fit. This card requires an annual fee of $195, yet plenty of other business cards come with $0 annual fees and generous rewards and perks of their own.

Business perks for Ink Business Premier cardholders

The Chase Ink Business Premier does offer a great cash back rate for business owners who have a lot of expenses each month. It also includes a number of other business-friendly perks, including:

• Earn $1,000 in cash back after making $10,000 in purchases during the first three months after opening account
• Get additional employee cards for free
• Monitor and set spending limits on employee cards
• Fraud monitoring and “zero liability” protection
• Flex for Business allows you to pay purchases off over time
• Cellphone protection of up to $1,000 per claim (maximum of three claims in 12 months, $100 deductible applies)
• Trip cancellation/interruption coverage
• Baggage delay coverage
• Auto rental collision damage waiver
• No foreign transaction fees
• Purchase protection and extended warranty coverage

Is the Ink Business Premier worth the annual fee?

If you’re a business owner who loves cash back and puts a high amount of monthly expenses on your credit card, the Ink Business Premier can easily be worth the $195 annual fee. In fact, the card will likely pay for itself — especially if you make purchases of $5,000 or more during the year.

Here’s an example: Let’s assume you have monthly expenses totaling $5,000 toward advertising, utilities, gas and more. Let’s also assume that you spend $1,000 per month on travel through the Chase portal. In just 1 month, you would earn $150 in cash back — so you’ve nearly covered the $195 annual fee in the first month alone. That is $1,800 a year in cash back; even after accounting for the annual fee, you still net $1,605.

Now let’s assume that you make at least a single purchase of $5,000 each year. At 2.5 percent cash back, that single purchase alone will net you $125. Make more than one purchase of $5,000, and you’ve more than covered the annual fee with just two purchases, and that doesn’t even include any rewards you earn for other spending you do on the card.

The card, however, is decidedly not worth it if you’re mainly attracted to that high welcome offer and want to use those rewards for an awesome transfer to a travel loyalty partner. Don’t let the flashy number distract you — this isn’t a transferable points card, nor can you combine the rewards with your other Chase rewards.

Should you get the Chase Ink Business Premier?

If you have high business expenses and prefer to earn the highest cash back rate possible, the Ink Business Premier could be a good fit for your wallet. Not only does it offer an exceptional rewards rate, but you can also earn $1,000 in bonus cash back after spending $10,000 on purchases within three months of account opening.

A few cardholder perks also help boost this card’s value, including purchase protection against damage or theft, cellphone protection, extended warranties, trip cancellation and interruption insurance, baggage delay coverage and more.

With an annual fee of just $195 per year and so much to offer, the Chase Ink Business Premier Credit Card can be well worth it in the end.

The bottom line

If you still can’t decide whether to choose this card, check out our Chase Ink Business Premier Credit Card review. Take the time to understand its rewards and benefits, and you’ll be in the best position to compare it to other top business credit cards on the market today.