Chase Ink Business Premier℠ Credit Card review: A laid-back cash back rewards card for big spenders

This card’s rewards structure is designed for business owners who want to earn more on larger purchases, accruing unlimited and boosted flat-rate rewards and travel rewards through Chase Ultimate Rewards. Additional benefits add even more to the overall value of this card. 

Rewards: Boosted rates for big spenders 

This card’s rewards structure is designed for business owners who want to earn more on larger purchases, accruing unlimited 2 percent cash back on every purchase, unlimited 2.5 percent back on large purchases of $5,000 or more and unlimited 5 percent cash back on travel booked through Chase Ultimate Rewards. In addition, there’s no limit on how much you can earn, and the rewards don’t expire as long as your account is active. 

Cardholders can use Ink Business Premier points to redeem cash back, travel booked through the Ultimate Rewards portal, Amazon.com and PayPal purchases, gift cards to over 175 brands, Apple products and more. Travel purchases and gift cards can be redeemed at one cent per point.  

Credit Limit: Flexible options of high budgets

Technically, this card is a charge card, meaning that the full balance must be paid by the close of each billing cycle. However, rather than charge a standard annual percentage rate, the Ink Business Premier functions similarly to some of Amex’s top-tier rewards cards. While cardholders will have to pay their balance in full each month, this card offers Flex for Business, a flexible-spending payment plan option for business owners to pay off purchases over $500 over time with interest (19.49 percent to 27.49 percent variable ongoing APR). 

Welcome Offer: Good return on high spend 

Ink Business Premier owners can earn a $1,000 cash bonus in the form of 100,000 Ultimate Rewards points after spending $10,000 on purchases in your first three months. This requirement can seem intimidating, but the roughly $3,334 per monthly spend fits in with the average small-business yearly spend of $48,000 when divided evenly. 

When taking other business credit card sign-up bonuses into account, this spending requirement is quite reasonable given its value to cardholders. Chase’s Ink Business Preferred credit card offers the same point value but requires a slightly lower spend in the same three-month window. In addition, the American Express Business Gold credit card requires the same spend in your first three months, but its bonus is valued less unless you transfer those points to an Amex partner. 

Benefits: A good list of travel and purchase protections 

The bright side of having a card with an annual fee is that you’ll likely get plenty of travel and purchase protections. Some highlights for the Ink Business Premier include: 

• Trip cancellation/trip interruption insurance: Pre-paid, non-refundable travel expenses, including passenger fares and hotels, can be reimbursed up to $5,000 per person and $10,000 per trip in the event of covered situations like sickness and weather. 
• Auto rental collision damage waiver: You’ll receive primary coverage up to the cost of the vehicle in the event of theft or collision by paying for your auto rental vehicle with your card and declining the agency’s insurance. 
• Cell phone protection: Providing one of the best cellphone protection plans you’ll find on a credit card, the Business Premier allows cardholders, or the employees listed on the monthly cell phone bill paid by your card to enjoy up to $1,000 per claim (three claims per 12 months with a $100 deductible) in cell phone protection against covered theft or damage. 

If your business requires strong purchasing power and straightforward, generous rewards on big purchases, the Business Premier card is among the top options available. However, it is important to consider your business spending habits and whether you spend enough monthly to justify the $195 annual fee and limited redemption options.

Fees: The amount can add up quickly

While this card's most notable fee is the $195 annual fee, there are other fees to be aware of, such as the late payment fee of $40 or 2 percent of the minimum payment due, whichever is greater. Plus, there is a cash advance fee of either $15 or 5 percent of the amount of each transaction, whichever is greater. Fortunately, you’ll be able to shop abroad without worry, as there is no foreign transaction fee.  

Pairing: Lack of Chase combinations 

Chase has a 1:1 point transfer ratio for the Ultimate Rewards points it earns, meaning 1 point equals 1 mile or 1 cent of cash back. However, since the cash back points earned through the Ink Business Premier cannot be transferred to airline or hotel partners or combined with your Chase Ultimate Rewards® balance on other Ultimate Rewards-earning cards, you won’t get any boosted point value on reward earnings.