How to maximize your earning with the Chase Ink Business Premier Card

Dec 22, 2021

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There seems to be a credit card for just every type of business owner out there, whether you’re a freelancer or manage a physical storefront. The choice boils down to the kind of rewards you’d like to earn: cash-back or travel rewards.

If you belong to the first camp, and your business spends a lot on annual operating expenses, then there’s a new credit card that may be a good fit for you. The Ink Business Premier Card comes with a $195 annual fee — making it the most expensive business card in Chase’s portfolio — but is equipped with a strong earning rate that’s hard to beat.

Alternatively, you may be a savvy TPG reader and think that this new Ink Business Premier will be a fantastic addition to your Chase trifecta cards. Unfortunately, while the card earns Ultimate Rewards points, they’re only redeemable for cash back, gift cards, travel and more through the Ultimate Rewards portal at a rate of 1 cent each.

You cannot transfer your points on the Ink Business Premier to Chase’s airline and hotel transfer partners, or transfer your points over to other Ultimate Rewards cards (such as the Chase Sapphire Preferred Card or the Ink Business Preferred Credit Card) to turn them into fully-transferable points.

In sum, the Ink Business Premier will appeal to some business owners who don’t want to deal with the hassle of travel rewards.

Regardless, if you decide this is the card for you and your business, let’s go over the strategies for maximizing the card to its full potential and discuss scenarios when the Ink Business Premier might not be the best card to use.

The information for the Ink Business Premier has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

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In This Post

Overview of the Ink Business Premier benefits

(Photo by The Points Guy)

The new Ink Business Premier is intended for business owners who want a solid return on the thousands of dollars spent on monthly operating expenses. At $195 per year, it will take a significant amount of spend to justify this annual fee (more on this below) — though that shouldn’t be a difficult feat for businesses that can garner enough rewards to make up for it. Here’s an overview of what you can expect from the card:

  • Sign-up bonus: Earn $1,000 cash back (in the form of 100,000 Ultimate Rewards points) after spending $10,000 on eligible purchases within the first three months of account opening.
  • Earning rate: Unlimited 5% cash back on travel booked through Chase Ultimate Rewards, 2.5% cash back on purchases of $5,000 or more and 2% cash back on all other eligible purchases.
  • Flex for Business: Ink Business Premier cardholders to pay for eligible purchases over time with interest for greater payment flexibility.
  • Travel and purchase coverages: When you book your trip with your Ink Business Premier, you’ll receive complimentary trip cancellation and interruption insurance, trip delay reimbursement, primary car rental coverage, purchase protection and extended warranty.
  • Cell phone protection: When you pay your monthly cell phone bill with your Ink Business Premier, you can receive up to $1,000 per claim for damaged or stolen phones, for a maximum of three claims per year. Note that there’s a deductible of $100 per claim.
  • Free employee cards: Add employee cards for no additional cost to help you earn cash-back rewards even faster.
  • No foreign transaction fees: When traveling internationally, you won’t incur any foreign transaction fees for purchases.

Related: Chase’s newest cash-back business card: Ink Business Premier card review

Strategies for maximizing the Ink Business Premier

The Ink Business Premier is likely not the best card for self-employed people. (Photo by Gary Friedman/Los Angeles Times via Getty Images)

Use your Ink Business Premier to pay for large purchases

One of the biggest advantages to the new Ink Business Premier is its 2.5% earning rate on purchases of $5,000 or greater — no matter the type of purchase and with no limit. Very few business cards can promise a comparable return. Among the best we’ve seen on the market is the American Express® Business Gold Card, which offers 4 points per dollar on the two categories your business spends the most each month, up to the first $150,000 spent each calendar year, then 1 point per dollar. This 4 points per dollar earning rate is quite lucrative, yet there are several limitations, while the Ink Business Premier offers 2.5% cash back (2.5 points per dollar) with uncapped potential.

Even The Business Platinum Card® from American Express offers a similar earning rate as the Ink Business Premier, with 1.5 Membership Rewards points on purchases of $5,000 or more and in select key business categories, on up to $2 million spent each calendar year (then 1x). When factoring in the $595 annual fee ($695 if application received on or after Jan. 13, 2022, see rates and fees), on the Amex Business Platinum, the Ink Business Premier takes the cake for simplicity and affordability.

Use your Ink Business Premier for purchases that don’t fit in bonus categories

Similarly, the Ink Business Premier offers a 2% earning rate on all other eligible purchases. That means no matter the purchase, you’ll always earn bonus points no matter the type of items you spend on. For example, if your business spends $10,000 annually, you’ll receive $200 in cash-back rewards. This 2% earning rate alone will make up for the $195 annual fee, but you can only start to imagine how the rewards will multiply the more your business can put on the card.

Use your Ink Business Premier to pay for your cell phone bill

Using the right credit card matters when it comes down to paying your cell phone bill. With complimentary cell phone protection on the Ink Business Premier, you’ll be covered in case your phone is stolen or damaged, potentially saving you hundreds of dollars — and giving you peace of mind.

When not to use the Ink Business Premier

The Ink Business Premier offers a 5% return for travel booked through the Ultimate Rewards portal. (Photo by Zach Griff/The Points Guy)

On the flip side, here are a couple of instances where you’ll want to avoid using the Ink Business Premier.

Don’t use your Ink Business Premier for travel

The Ink Business Premier offers a 5% return for travel — but only if your trips are booked through the Ultimate Rewards portal. Since the Ink Business Premier is a cash-back card, it’s best to use this card for those routine bills or unexpected business expenses you’ll inevitably incur. There are substantially better cards available that can help you maximize your travel spend to help you accrue points toward redeeming for future travel, which you can read all about here.

Don’t use your Ink Business Premier to double down in the Ultimate Rewards program

As mentioned in the introduction, the Ink Business Premier is not the card to apply for if you want to double-down on earning Ultimate Rewards points. You’ll want to look elsewhere if you want to maximize your business spend to earn travel rewards. As an alternative, the Ink Business Preferred has long been a TPG favorite and comes with a manageable $95 annual fee. Read here for our guide on earning Chase Ultimate Rewards points.

You can still maximize your points

If you’re still on the market for a business cash-back credit card, the Ink Business Unlimited Credit Card or the Ink Business Cash Credit Card are fantastic options without an annual fee. That way, your business won’t have to worry about justifying the $195 annual fee, and there are still strong earning rates involved. Plus, the points earned on these cards can be transferred over to other Ultimate Rewards-earning cards for maximum travel potential.

Bottom line

For many businesses, the appeal of earning cash back is much greater than points and miles. Among the business cash-back credit cards on the market, the Ink Business Premier offers the best earning potential for businesses that frequently have large purchases or cumulatively spend thousands of dollars every year.

For rates and fees of the Amex Business Platinum, click here.

Featured photo by The Points Guy.

Delta SkyMiles® Platinum American Express Card

Earn 50,000 bonus miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new card in the first three months of card membership. Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants in the first three months of card membership.

With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.

Apply Now
More Things to Know
  • Earn 50,000 Bonus Miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new Card in your first 3 months.
  • Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants with your card within the first 3 months of membership.
  • Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
  • Earn 3X Miles on Delta purchases and purchases made directly with hotels.
  • Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
  • Earn 1X Miles on all other eligible purchases.
  • Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
  • Enjoy your first checked bag free on Delta flights.
  • Fee Credit for Global Entry or TSA Pre✓®.
  • Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
  • No Foreign Transaction Fees.
  • $250 Annual Fee.
  • Terms Apply.
  • See Rates & Fees
Regular APR
15.74%-24.74% Variable
Annual Fee
$250
Balance Transfer Fee
N/A
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

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