Chase Ink Business PremierSM Credit Card Review for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
Chase Ink Business PremierSM Credit Card is best for business owners wanting to get as many cash back rewards as possible on large purchases. It offers 2.5% cash back on every purchase worth $5,000 or more and unlimited 2% cash back on all other business purchases. It also has a sign-up bonus of $1,000 cash back after spending $10,000 on purchases within the first three months after account opening.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Ink Business Premier℠ Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who frequently make large purchases
Intro APR
None
Regular APR
Flex for Business Variable APR: 19.24% - 27.24%
Annual Fee
$195
Credit Needed
Good to Excellent
- Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
- Earn unlimited 2.5% total cash back on purchases of $5,000 or more and unlimited 2% cash back on all other business purchases.
- Travel Benefits: Unlimited 5% total cash back on travel purchased through Chase Ultimate Rewards, No Foreign Transaction Fees and Trip Cancellation/Trip Interruption Insurance.
- Rich Rewards. Limitless Opportunities. With no minimum redemption amount, redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- For businesses who prefer to pay their balance in full each month, Ink Business Premier gives access to increased spending power, rich rewards, and premium benefits.
- Pay off eligible purchases over time with interest up to assigned Flex for Business limit. All other purchases must be paid in full each month.
- Purchase with confidence with built-in protections like Fraud Protection, Zero Liability Protection, Purchase Protection, Cell Phone Protection, and Extended Warranty Protection.
- There's no additional cost for employee cards. Monitor spend with digital tools like purchase alerts, set spending limits, reporting, and more.
- Member FDIC
Pros
- Offers premium rewards for new and existing cardholders
- Does not charge foreign transaction fees
- Has the option to pay for qualifying purchases in installments through Flex for Business
Cons
- Does not have interest-free financing option on both purchases and balance transfers
- Charges a high annual fee of $195
- Requires for you to pay in full each month
- Need to make large purchases within a short period of time to qualify for its sign up bonus
- Cellphone protection: You and your employees listed on your monthly cellphone bill can get up to $1,000 per claim against covered theft or damage
- Extended warranty protection: You can extend the US manufacturer’s warranty period by an additional year on eligible warranties of three years or less.
- Trip cancellation/trip interruption insurance: If your trip is canceled or cut short by sickness, severe weather, and other covered situations, you can be reimbursed up to $5,000 per person and $10,000 per trip for your prepaid, nonrefundable travel expenses, which includes passenger fares, tours, and hotels.
- Flex for Business: Allows a portion of your Credit Access Line to be used for qualifying purchases over time with interest.
- Free employee cards: You can request employee cards at no additional cost and set individual spending limits—helping you earn rewards faster.
Intro APR
None
Regular APR
Flex for Business Variable APR: 19.24% - 27.24%
Annual Fee
$195
Credit Needed
Good to Excellent
- Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
- Earn unlimited 2.5% total cash back on purchases of $5,000 or more and unlimited 2% cash back on all other business purchases.
- Travel Benefits: Unlimited 5% total cash back on travel purchased through Chase Ultimate Rewards, No Foreign Transaction Fees and Trip Cancellation/Trip Interruption Insurance.
- Rich Rewards. Limitless Opportunities. With no minimum redemption amount, redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- For businesses who prefer to pay their balance in full each month, Ink Business Premier gives access to increased spending power, rich rewards, and premium benefits.
- Pay off eligible purchases over time with interest up to assigned Flex for Business limit. All other purchases must be paid in full each month.
- Purchase with confidence with built-in protections like Fraud Protection, Zero Liability Protection, Purchase Protection, Cell Phone Protection, and Extended Warranty Protection.
- There's no additional cost for employee cards. Monitor spend with digital tools like purchase alerts, set spending limits, reporting, and more.
- Member FDIC
Pros
- Offers premium rewards for new and existing cardholders
- Does not charge foreign transaction fees
- Has the option to pay for qualifying purchases in installments through Flex for Business
Cons
- Does not have interest-free financing option on both purchases and balance transfers
- Charges a high annual fee of $195
- Requires for you to pay in full each month
- Need to make large purchases within a short period of time to qualify for its sign up bonus
- Cellphone protection: You and your employees listed on your monthly cellphone bill can get up to $1,000 per claim against covered theft or damage
- Extended warranty protection: You can extend the US manufacturer’s warranty period by an additional year on eligible warranties of three years or less.
- Trip cancellation/trip interruption insurance: If your trip is canceled or cut short by sickness, severe weather, and other covered situations, you can be reimbursed up to $5,000 per person and $10,000 per trip for your prepaid, nonrefundable travel expenses, which includes passenger fares, tours, and hotels.
- Flex for Business: Allows a portion of your Credit Access Line to be used for qualifying purchases over time with interest.
- Free employee cards: You can request employee cards at no additional cost and set individual spending limits—helping you earn rewards faster.
When evaluating business cash back credit cards like Chase Ink Business PremierSM Credit Card, we consider ongoing rewards as the biggest factor and introductory rewards the second highest. We also rate the annual fee, introductory and ongoing annual percentage rate (APR), and card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 30 | 30 |
Introductory Rewards | 20 | 20 |
Annual Fee | 6 | 15 |
Additional Features | 15 | 15 |
Introductory APR | 0 | 10 |
Ongoing APR | 5 | 10 |
Total Score | 76 | 100 |
Who the Chase Ink Business PremierSM Credit Card Is Best For
- Those who can pay in full: Bills need to be paid in full each month, though it offers an option for you to pay for qualifying purchases in installments through Flex for Business.
- Those who make large purchases frequently: This card gives you 2.5% cash back on every purchase of $5,000 or more.
See our recommended alternatives below if this card isn’t the best fit for your business.
Chase Ink Business PremierSM Credit Card Fees
- Flex for Business APR*: 19.24% to 27.24% variable, which will adjust with the prime rate
- Minimum interest charge: None
- Annual fee: $195
- Cash advance fee: Either $15 or 5% of the amount of each transaction, whichever is greater
- Foreign transaction fee: None
- Late payment fee: $40 or 2% of the minimum payment due, whichever is greater
*While the card should be paid in full, you can still pay for eligible purchases over time with interest through Flex for Business.
Your due date is at least 20 days after the close of each billing cycle.
- Online or Chase Mobile® App: Go to chase.com/paycard to sign in and make a payment online. You can also enroll in automatic payments through the website or mobile app. When you enroll, specify the deposit account from which your payment will be deducted and how much you’d like to pay, such as the full statement balance, minimum payment due, or any fixed amount.
- Phone: Call the automated phone service at (800) 436-7958.
- Mail or money order: Include your name and full account number on your check or money order—and don’t send cash. Mail your payment to the following address:
Cardmember Services
PO Box 6294
Carol Stream, IL 60197-6294
Alternatively, you can send your payment via overnight mail to the following address:
Chase Card Services
201 N. Walnut St.
Del-0153
Wilmington, DE 19801
- Western Union: Use the Code City WALNUT when you pay via Western Union. Note that it may take up to seven days for the payment to be reflected in your account.
- Chase ATM or branch: Locate a Chase ATM or branch near you.
Chase Ink Business PremierSM Credit Card Rewards
- $1,000 bonus cash back after spending $10,000 on purchases within the first three months after account opening
- 5% cash back rewards for every dollar spent on travel purchases booked through the Ultimate Rewards program
- 2.5% cash back on purchases worth $5,000 or more—that’s $250 on a purchase of $10,000 when redeemed
- Unlimited 2% cash back on all other business purchases
Through the Chase’s Refer-A-Business program, cardholders can receive 40,000 points for each business owner referred who gets approved and get up to a maximum of 200,000 bonus points per calendar year.
There’s no limit to the cash back that can be redeemed through Chase Ultimate Rewards®. In addition, points will not expire so long as your account is active. You can use these points to:
- Pay for business purchases made at Amazon.com and PayPal (including tax and shipping).
- Book a business trip—flights, hotels, car rentals, and more, with no restrictions or blackout dates on airfare booked via Chase Ultimate Rewards®.
- Redeem gift cards at over 150 brands.
- Pay for Apple purchases through the Apple Ultimate Rewards Store.
We came up with a sample scenario to help you understand how cash back rewards for this card works.
- Annual business expenses: $100,000
- Total travel purchases made through the Ultimate Rewards program: 20%, or $20,000
- Total purchases of at least $5,000: 40%, or $40,000
- Total purchases on other expenses: 40%, or $40,000
The total rewards you can earn are 280,000 points (or $2,800). The computation is as follows:
- $20,000 in travel (at 5% cash back) = $1,000 or 100,000 points
- $40,000 in large purchases (at 2.5% cash back) = $1,000 or 100,000 points
- $40,000 in other purchases (at 2% cash back) = $800 or 80,000 points
These earned points can help offset the $195 annual fee of the card.
Chase Ink Business PremierSM Credit Card Features
Purchase Protection
- Cellphone protection: You and your employees listed on your monthly cellphone bill can get up to $1,000 per claim against covered theft or damage. Note that a maximum of three claims in 12 months with a $100 deductible per claim is available.
- Extended warranty protection: You can extend the United States manufacturer’s warranty period by an additional year on eligible warranties of three years or less.
- Fraud protection: Chase helps safeguard your credit card purchases through its 24/7 fraud monitoring.
- Zero liability protection: Chase will not hold you responsible for any unauthorized charges made with both your card and account information.
Travel Protection
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card. Note that coverage is primary when renting for business purposes and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Roadside dispatch: Call (800) 847-2869 anytime to dispatch the help you need—from a tow or jump-start assistance and a tire change to lockout service and winching and gas delivery. Note that roadside service fees will be provided when you call and are billed to your card.
- Trip cancellation/trip interruption insurance: If your trip is canceled or cut short by sickness, severe weather, and other covered situations, you can be reimbursed up to $5,000 per person and $10,000 per trip for your pre-paid, non-refundable travel expenses—this includes passenger fares, tours, and hotels.
Account and Card Management
- Free employee cards: You can request employee cards at no additional cost and set individual spending limits—helping you earn rewards faster.
- Flex for Business: Allows a portion of your Credit Access Line to be used for qualifying purchases over time with interest.
- Chase Ink®: Gives you 24/7 access to view account details, quarterly reports of up to 24 months of statement details, and more
- Separating business and personal expenses: You can track expenses and maintain records for tax reporting easily by integrating your Chase Ink credit card with bookkeeping software to simplify accounting.
Chase Ink Business PremierSM Credit Card Alternatives
American Express Blue Business CashTM
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
- Is a viable option for those who want a straightforward cash back rewards system and may exceed their credit limit
- Lets you earn 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% after that
- Offers expanded buying power, which allows you to spend over your credit limit; note that the amount you can spend depends on your card usage, payment history, credit score, and financial resources
- Has a 0% introductory APR on purchases for the first 12 months
- Is in our roundups of the:
Chase Ink Business Unlimited®
Ink Business Unlimited® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
17.99% - 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
Intro APR
0% Intro APR on Purchases
Regular APR
17.99% - 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
- Is ideal if you want an alternative Chase card that offers 0% APR on purchases for the first 12 billing cycles
- Lets you earn unlimited 1.5% cash back on all business-related purchases
- Does not charge annual fees
- Is one of our:
You can also check our list of the best Chase business credit cards for more options from the provider.
Capital One® Spark® Cash Plus
Capital One® Spark® Cash Plus Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Businesses that want purchasing power and can pay their balances in full every month
Intro APR
None, as all charges that will be made on this account are due and payable in full after receiving your periodic statement.
Regular APR
None, as all charges that will be made on this account are due and payable in full after receiving your periodic statement.
Annual Fee
$150
Credit Needed
Excellent
- Earn up to $1,000 in the first six months after opening an account—$500 after you spend $5,000 in the first three months and $500 after you spend $50,000 in the first six months.
- Get 2% cash back on all business-related purchases without limits or category restrictions.
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
- You can earn a $200 cash bonus each year after spending a minimum of $200,000 in net purchases by your rewards membership anniversary.
Pros
- Does not have preset spending limits
- With introductory bonus
- Offers unlimited 2% cash back on all purchases
Cons
- Charges annual fee
- Requires you to pay in full each month
- Requires excellent credit to qualify
- Payment flexibility: Pick your preferred monthly due date to control when to pay your credit card bill.
- $0 fraud liability: You can get an emergency replacement and cash advance if your card is lost or stolen.
- Extended warranty: Get free additional warranty and protection on selected items purchased with your card
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing).
- Free employee cards and spend limits: Track employee spending while earning all rewards from their purchases and set customized spending limits for each card.
Intro APR
None, as all charges that will be made on this account are due and payable in full after receiving your periodic statement.
Regular APR
None, as all charges that will be made on this account are due and payable in full after receiving your periodic statement.
Annual Fee
$150
Credit Needed
Excellent
- Earn up to $1,000 in the first six months after opening an account—$500 after you spend $5,000 in the first three months and $500 after you spend $50,000 in the first six months.
- Get 2% cash back on all business-related purchases without limits or category restrictions.
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
- You can earn a $200 cash bonus each year after spending a minimum of $200,000 in net purchases by your rewards membership anniversary.
Pros
- Does not have preset spending limits
- With introductory bonus
- Offers unlimited 2% cash back on all purchases
Cons
- Charges annual fee
- Requires you to pay in full each month
- Requires excellent credit to qualify
- Payment flexibility: Pick your preferred monthly due date to control when to pay your credit card bill.
- $0 fraud liability: You can get an emergency replacement and cash advance if your card is lost or stolen.
- Extended warranty: Get free additional warranty and protection on selected items purchased with your card
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing).
- Free employee cards and spend limits: Track employee spending while earning all rewards from their purchases and set customized spending limits for each card.
- Is a great alternative if you want a pay-in-full card with a lower annual fee—at $150
- Lets you earn 2% fixed cash back on all business-related purchases, without limits or category restrictions
- Does not charge foreign transaction fees
- Is one of our:
Bottom Line
Chase Ink Business PremierSM Credit Card is great for those who make large purchases frequently. It offers 5% cash back rewards for every dollar spent on travel purchases booked through the Ultimate Rewards program, 2.5% cash back on large purchases worth $5,000 or more, and an unlimited 2% cash back on all other business purchases. Note that it requires you to pay your balances in full and charges an annual fee of $195.
