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TPG exclusive: A first look at Chase’s new Ink Business Premier credit card

Dec. 14, 2021
10 min read
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Editor's Note

An earlier version of this story stated that cardholders did not earn Chase Ultimate Rewards. While the card earns points that are primarily designed as cash-back rewards, the cardholder is able to redeem for travel, gift cards, and more through Ultimate Rewards.

Editor's note: An earlier version of this story stated that cardholders did not earn Chase Ultimate Rewards. While the card earns points that are primarily designed as cash-back rewards, the cardholder is able to redeem for travel, gift cards, and more through Ultimate Rewards.


Another week, another new credit card from one of the major issuers.

This time, it's Chase's turn in the spotlight. It just unveiled an all-new business card, the Chase Ink Business Premier Credit Card — with a big sign-up bonus to boot.

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While Chase's existing business card lineup is already fairly diverse, this card is more of a niche product targeted at high-spending businesses who value flexibility in their payment options.

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Among the other new cards to debut in recent weeks, the Capital One Venture X Rewards Credit Card is an upscale personal card with many perks that should appeal to a wide swath of travelers. Then there's the Bank of America® Premium Rewards® Elite credit card that seems geared to a more narrow audience within Bank of America's high-end customer base.

The Chase Ink Business Premier is more like the latter — a solid earner that businesses with significant expenses can use to supercharge their return on spending.

Let's take a closer look at the new card and its features.

The information for the Chase Ink Business Premier card and Bank of America Premium Rewards Elite credit card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

At a glance

(Photo by The Points Guy)

Annual fee

The Ink Business Premier charges a $195 annual fee, and while that squarely fits in the mid-tier price spectrum, the card is really intended for high-spending businesses, which we'll explain later. It's $100 more per year than the Ink Business Preferred Credit Card, which only charges $95 per year.

Sign-up bonus and eligibility

First, the good news: Chase Ink Business Premier cardholders can earn $1,000 cash back (or 100,000 non-transferable Ultimate Rewards points) after making $10,000 in purchases in the first three months of account opening.

For now, applications are only open to those with an existing business relationship with Chase; broader applications, including online applications, will likely open in early 2022.

Earning rates

As for its ongoing earning potential -- there is no cap on how much cash back you can accrue on purchases at the following rates:

  • 2% back on every purchase.
  • 2.5% total back on every purchase of $5,000 or more.
  • 5% total back on travel purchased through Chase Ultimate Rewards.

Clearly, businesses that frequently make large purchases and that spend heavily on travel via Ultimate Rewards will stand to benefit the most.

What's unique about this card

This card isn't just another Ink card by another name. It is different from the others in that portfolio, with several unique features surrounding payment and redemption options that may make it more or less interesting for you.

Pay in full and Flex for Business

One of the main features that sets this card apart from the rest of Chase's business portfolio is that it's the issuer's first pay-in-full product.

That means business owners will need to either pay balance in full each month, or use Chase's new "Flex for Business" program. This will work similarly to Amex's Pay Over Time, which essentially functions as an extended-financing option, allowing cardholders to pay eligible charges over several months with interest.

While the best strategy is probably just to pay off your balance entirely each month, this financing option is a good alternative for unexpected expenses that might come up and require more time to pay them down.

More limited redemption opportunities

For rewards-focused cardholders, Chase Ink Business Premier has one significant downside: The points it earns are primarily intended to be redeemed as cash back, and you cannot transfer them to another Chase card account that earns transferable Ultimate Rewards points in order to maximize their value.

For some background, other proprietary Chase card products that charge annual fees -- namely the Chase Sapphire Preferred Card, Chase Sapphire Reserve and Ink Business Preferred -- earn Ultimate Rewards points that cardholders can transfer to the program's various airline and hotel partners, such as United MileagePlus, Southwest Rapid Rewards and World of Hyatt.

If you carry one (or more) of those cards, then you can usually combine points from other Chase cards that are mainly cash-back earners -- such as the Chase Freedom Flex, the Chase Freedom Unlimited, the Ink Business Cash Credit Card and the Ink Business Unlimited Credit Card -- with those from your account that earns transferable points, and the rewards you have earned become fully transferable Chase points.

That's not the case with the Ink Business Premier.

Instead, the Ultimate Rewards points you earn with it are only redeemable for cash back -- or various other things like travel and gift cards through the Chase portal -- all at a rate of 1 cent per point. In addition, while you can transfer points from other Chase accounts into your Ink Business Premier one, the opposite is not true. Once those points are in your Ink Business Premier account, they're stuck there.

All that means that folks with this card can earn "cash back" in a variety of forms, but cannot use the card to accrue more transferable Ultimate Rewards points by combining them with those from other accounts.

While earning cash back at the rates that this card offers is probably attractive to some high-spending businesses, those looking to ramp up their travel rewards, specifically, will probably find some better options out there.

Other benefits

As other cards continue to scale back on benefits such as travel insurance and extended warranty protection, the fact that Chase continues to offer these perks is a notable advantage. However, don't expect premium travel perks such as lounge access or travel statement credits. Here's what you can expect:

Of these, it's notable that the card's cellphone protection covers up to $1,000 per claim, with a maximum of three claims per year with a $100 deductible per claim.

How the card fits into the Chase portfolio

(Photo by John Gribben for The Points Guy)

Although Chase has added and removed cards from its Ink portfolio over time, there are now currently four Ink Business cards actively available: this new Ink Business Premier, the Ink Business Cash Credit Card, the Ink Business Unlimited Credit Card and the Ink Business Preferred Credit Card.

Earning potential unlocked

Of the other three Ink cards, only the Ink Business Preferred charges an annual fee, of $95 per year.

The Ink Business Preferred is also a strong earner, racking up 1 point per dollar on most purchases, but 3 points per dollar on a variety of bonus categories including travel; shipping purchases; internet, cable and phone services; and advertising purchases made with social media sites and search engines. However, you can only earn 3 points per dollar on up to $150,000 in combined purchases per account anniversary year across all these categories. So for businesses that spend above and beyond that, the card might not have been the best option.

As mentioned above, however, points the Ink Business Preferred earns can be transferred to the Ultimate Rewards program's airline and hotel partners. They are also worth 1.25 cents apiece when redeemed for travel through the Chase portal, which handily beats the 1-cent-per-point rate the Ink Business Premier offers on such redemptions.

For its part, the Ink Business Cash Credit Card limits users to earning 5% back (or 5 points per dollar) on up to $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year; and 2% back (or 2 points per dollar) on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Those are pretty low maximums for businesses and might have hamstrung some small businesses with main purchase areas in these categories.

The Ink Business Unlimited has no bonus caps. It simply earns 1.5% back (or 1.5 points per dollar) on all purchases.

By contrast, the Ink Business Premier earns a better 2% back on everyday purchases, but an unlimited 2.5% total cash back on $5,000-plus transactions and 5% back on travel through Chase, with no earning ceilings.

A niche card for big business

With no cap on how much you can earn, businesses with more significant expenses (likely in the millions of dollars) will probably appreciate the ability to continue earning at least 2% back on every purchase and even more on large purchases with the Ink Business Premier. And a $195 annual fee may be a drop in the proverbial bucket for that group.

Bottom line

While the launch of a new credit card is always exciting, some cards are more noteworthy than others. And while this card does come with some serious earning potential, the Ink Business Premier will likely appeal mostly to large, established businesses.

As opposed to many other business credit cards, for which you don't need to have a full-fledged large-scale company to apply or maximize their rewards, the Ink Business Premier is squarely targeted at firms with sizable expenses that regularly ring up in the thousands or tens of thousands of dollar range.

But if your business fits in that demographic, and likes to keep its rewards simple without utilizing travel transfer partners to maximize value, this could be an interesting option.

Featured image by (Photo by The Points Guy)
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

TPG featured card

Best starter travel card
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards

1 - 3X points
3XEarn 3 Points per $1 spent at Restaurants and Supermarkets
3XEarn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
1XEarn 1 Point per $1 spent on all other purchases

Intro offer

Earn 80,000 ThankYou® points60,000 points
For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening

Annual Fee

$95

Recommended Credit

670-850
Excellent, Good
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

The Citi Premier’s 3 points per dollar spent across a wide range of popular categories is one of the more lucrative offerings in the world of points and miles. The Citi Premier comes with a $95 annual fee and is currently offering a solid sign up bonus of 80,000 points after you spend $4,000 on purchases within the first three months. It also has some valuable transfer partners to make the most of your rewards. Add in access to Citi Entertainment plus a $100 hotel credit for any single-stay hotel booking that exceeds $500 or more, excluding taxes and fees, booked through the Citi travel website, there are few reasons why the Citi Premier should not be in every traveler’s wallet.

Pros

  • Earns 3x points on restaurants, supermarkets, gas stations, air travel and hotels.
  • $100 annual hotel savings benefit (on single hotel stay bookings of $500 or more, excluding taxes and fees, booked through thankyou.com)
  • Points transfer to 16 airline programs, from JetBlue to Virgin Atlantic.
  • World Elite Mastercard benefits, extended warranty, damage and theft protection.

Cons

  • $95 annual fee
  • Lacks travel protections that other travel rewards cards come with
  • For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening
  • Earn 3 Points per $1 spent at Restaurants and Supermarkets
  • Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
  • Earn 1 Point per $1 spent on all other purchases
  • Annual Hotel Savings Benefit
  • 80,000 Points are redeemable for $800 in gift cards when redeemed at thankyou.com
  • No expiration and no limit to the amount of points you can earn with this card
  • No Foreign Transaction Fees on purchases
Best starter travel card
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

3XEarn 3 Points per $1 spent at Restaurants and Supermarkets
3XEarn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
1XEarn 1 Point per $1 spent on all other purchases
  • Intro Offer
    For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening

    Earn 80,000 ThankYou® points
    60,000 points
  • Annual Fee

    $95
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Excellent, Good

Why We Chose It

The Citi Premier’s 3 points per dollar spent across a wide range of popular categories is one of the more lucrative offerings in the world of points and miles. The Citi Premier comes with a $95 annual fee and is currently offering a solid sign up bonus of 80,000 points after you spend $4,000 on purchases within the first three months. It also has some valuable transfer partners to make the most of your rewards. Add in access to Citi Entertainment plus a $100 hotel credit for any single-stay hotel booking that exceeds $500 or more, excluding taxes and fees, booked through the Citi travel website, there are few reasons why the Citi Premier should not be in every traveler’s wallet.

Pros

  • Earns 3x points on restaurants, supermarkets, gas stations, air travel and hotels.
  • $100 annual hotel savings benefit (on single hotel stay bookings of $500 or more, excluding taxes and fees, booked through thankyou.com)
  • Points transfer to 16 airline programs, from JetBlue to Virgin Atlantic.
  • World Elite Mastercard benefits, extended warranty, damage and theft protection.

Cons

  • $95 annual fee
  • Lacks travel protections that other travel rewards cards come with
  • For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening
  • Earn 3 Points per $1 spent at Restaurants and Supermarkets
  • Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
  • Earn 1 Point per $1 spent on all other purchases
  • Annual Hotel Savings Benefit
  • 80,000 Points are redeemable for $800 in gift cards when redeemed at thankyou.com
  • No expiration and no limit to the amount of points you can earn with this card
  • No Foreign Transaction Fees on purchases