The Chase Ink Business Premier℠ Credit Card is a popular choice for business owners looking for a rewarding and versatile card to support their business expenses. Designed specifically for those with high expenses, this card offers a solid cash-back rate on purchases and a generous welcome bonus for new cardholders.
According to Bankrate and The Points Guy, the Chase Ink Business Premier Card provides unlimited 2% cash back on purchases, allowing cardholders the flexibility of earning without worrying about bonus categories or spending limits. Furthermore, the card features an attractive signup bonus, with Forbes reporting a $1,000 cash back bonus after spending $10,000 on purchases within the first three months of account opening.
With a $195 annual fee, the Chase Ink Business Premier Card strikes a balance between affordability and rewards, making it an option worth considering for business owners who aim to maximize their financial resources. However, it’s crucial that potential cardholders evaluate their specific business needs and priorities before determining if this card aligns with their overall financial goals.
Key Features
The Chase Ink Business Premier Card comes with several features designed to cater to business owners with high expenses. Let us dive into the main attractions that make this card stand out.
Welcome Bonus: New cardholders can earn a generous welcome bonus of $1,000 cash back (in the form of 100,000 Ultimate Rewards points), after spending $10,000 on purchases within the first three months of account opening.
Cash Back Rate: The card offers a solid standard cash-back rate of 2%.
Annual Fee: The Ink Business Premier Card carries a $195 annual fee.
Large Purchase Earning Potential: As suggested by Bankrate, the card is an outstanding tool for earning points on large purchases, catering to those with significant business expenses.
Using these key features, business owners can make an informed decision when considering the Chase Ink Business Premier Card as a means to manage their expenses and accumulate rewards.
Reward Earning Structure
The Chase Ink Business Premier Card is designed for business owners who want to earn rewards on their day-to-day purchases. The card offers a unique rewards structure that allows cardholders to earn cash back in various categories.
With this card, you will earn 5% cash back on travel purchased through Chase Ultimate Rewards®, which can help you save on your business trips. This rate is competitive, making it an attractive option for businesses with frequent travel expenses.
For larger purchases, the Chase Ink Business Premier Card offers 2.5% cash back on purchases of $5,000 or more. This can be particularly useful for businesses that regularly make large investments in equipment, supplies, or other necessities, and helps you maximize your rewards on these substantial transactions.
Additionally, the card offers 2% cash back on all other business purchases without any spending cap. This straightforward rate makes it easy for you to earn rewards on a wide variety of expenses and streamline your rewards program.
For added flexibility, the rewards you earn with the Chase Ink Business Premier Card can be combined with other Chase rewards to boost your overall earning potential. This makes it easy for businesses with multiple Chase credit cards to maximize their rewards and redeem them for the best possible benefits. All in all, the reward earning structure of this card is well-suited for a range of business needs and offers valuable incentives for business owners who prioritize earning cash back.
Redemption Options
The Chase Ink Business Premier Card offers various redemption options, giving cardholders flexibility in using their reward points. One popular option is cash back, where points have a 1:1 value, making each point worth 1 cent.
Another possible way to redeem points is through gift cards and travel purchases. The card earns Ultimate Rewards points, allowing you to book travel through the Chase Travel Portal or transfer points to various airline and hotel partners. However, not all partners provide the same point value, so it’s essential to research the best redemption method for your needs.
Additionally, the Chase Ink Business Premier Card allows users to redeem points for statement credits, Amazon.com purchases, and other shopping options. However, these options may yield a lower redemption value than cash back. Therefore, it is recommended to opt for cash back if the main goal is maximizing your rewards’ monetary value.
Additional Card Benefits
The Chase Ink Business Premier Card offers more than just cash back rewards. One of the additional benefits is the unlimited 5% total cash back on travel purchased through Chase Ultimate Rewards. This allows you to save a significant amount on your business-related travel expenses.
Another advantage is the absence of foreign transaction fees. This means you can use your card for international transactions without worrying about extra charges, making it an ideal card for businesses with global dealings.
In addition to travel benefits, cardholders can also enjoy trip cancellation/interruption insurance. This coverage can protect your investment in case your trip gets canceled, cut short, or delayed due to unforeseen circumstances such as illness, severe weather, or other eligible events.
Lastly, the Chase Ink Business Premier Card offers purchase protection and extended warranty coverage. Purchase protection covers your new purchases for 120 days against damage or theft, while the extended warranty adds an additional year to eligible warranties of three years or less.
Annual Fee and APR
The Chase Ink Business Premier℠ Credit Card comes with a $195 annual fee, which is considered relatively high for a business credit card. However, the card offers numerous rewards and benefits that may justify the cost for certain businesses. It’s crucial to consider your business’s spending habits and needs before deciding if this card is right for you. To learn more about the fee and card details, consult Forbes and Bankrate.
As for the APR (Annual Percentage Rate), the Ink Business Premier℠ Credit Card has a Flex for Business variable rate that ranges from 18.74% (7.75 + 10.99)% to 26.74% (7.75 + 18.99)%, according to Chase’s official website. This variable rate may vary depending on the Prime Rate, and it’s important to review the card’s terms and conditions before applying.
Note that the Chase Ink Business Premier℠ Credit Card is designed to be paid in full each month. This structure encourages responsible financial management for your business and helps avoid accruing interest on balances.
In summary, carefully consider the annual fee and APR when evaluating the Chase Ink Business Premier℠ Credit Card for your business. Factors such as your company’s financial habits and the card’s rewards structure should play a significant role in the decision-making process.
Comparing with Similar Cards
If you’re considering the Chase Ink Business Premier Card, it’s essential to compare it with other Chase business cards to make an informed decision. Some popular options are the Ink Business Preferred Card, Ink Business Cash Card, and Ink Business Unlimited Card.
The main difference between the Ink Business Premier Card and its competitors is the rewards system. The Ink Business Premier Card mainly offers cash-back rewards, whereas the Ink Business Preferred Card is tailored towards travel rewards. Depending on your business’s spending habits and preferences, one card might be more suitable than the other. For a more in-depth comparison.
Both the Ink Business Cash Card and Ink Business Unlimited Card have distinct rewards structures too. The Ink Business Cash Card provides 5% cash back on specific categories, 2% cash back on others, and 1% for all other purchases. In contrast, the Ink Business Unlimited Card offers a flat 1.5% cash back on all purchases. To get a better understanding of these cards.
In addition to rewards, comparing annual fees, foreign transaction fees, and introductory offers is essential as well. Keep in mind that some cards may waive the annual fee for the first year, while others may have a constant fee. Before making a decision, consider how these factors align with your businesses’ needs and long-term goals.
Pros and Cons
Exploring the benefits and drawbacks of the Chase Ink Business Premier Card can help business owners determine if it’s the right fit for their needs.
Pros:
- Unlimited 2% cash back on all purchases, without worrying about bonus categories or caps.
- Welcome bonus of $1,000 cash back after spending $10,000 on purchases in the first 3 months from account opening.
- Designed for business owners with higher expenses, making it an outstanding tool for earning points on large purchases.
Cons:
- Although 2% cash back is a solid return, it may not be considered incredibly lucrative compared to some other cards on the market.
- The card’s welcome bonus requires a relatively high spending threshold of $10,000 within the initial 3 months, which may not be feasible for all businesses.
Considering these pros and cons can help business owners make an informed decision about whether the Chase Ink Business Premier Card meets their financial objectives and spending habits.
Who Should Consider the Chase Ink Business Premier Card?
The Chase Ink Business Premier Card is designed for business owners who prioritize a simple, no-fuss rewards structure over the complexity of bonus categories. With unlimited 2% cash back on all purchases, this card is suitable for those who prefer straightforward rewards without having to keep track of spending categories.
Additionally, the card is beneficial for business owners who make large purchases due to its cash back rewards structure. As long as you want to focus on earning cash back, the Ink Business Premier is a solid choice that provides easy-to-earn rewards across all types of business expenses.
Travel benefits are also an appealing feature of the Chase Ink Business Premier Card. Despite being a cash-back focused card, it offers perks such as no foreign transaction fees and trip cancellation/interruption insurance, making it an attractive option for business owners who frequently travel internationally for work.
In summary, the Chase Ink Business Premier Card is an ideal option for business owners seeking an easy-to-understand rewards structure, especially for those making significant purchases and requiring travel-friendly features. With its solid cash back rate and the convenience of earning rewards across all expenses, it could make an excellent addition to your business credit card portfolio.
Conclusion
The Chase Ink Business Premier Card offers competitive cash back rewards for businesses, particularly in the areas of travel and large purchases. With a 5% cash back rate on travel through Chase Ultimate Rewards® and 2.5% cash back on purchases of $5,000 or more, this card may be appealing to businesses with significant travel expenses or frequent large investments.
However, it’s important to consider the card’s downsides, such as the lack of rewards transfer options and the $195 annual fee. These factors may be a deal-breaker for some businesses, especially those that prefer more flexibility in managing their rewards.
In conclusion, the Chase Ink Business Premier Card may be a good choice for specific types of businesses that can make the most of its high cash back rates and don’t mind the limited rewards transfer options. As with any financial product, it is crucial to carefully assess your business’s needs and preferences to determine if this card would be a suitable addition to your financial arsenal.