Chase launches Ink Business Premier credit card

The Chase Ink Business Premier℠ credit card is officially available to the public, giving small business owners the opportunity to earn up to 5% cash back on select purchases. It had a soft launch in December 2021, initially only available to Chase for Business customers who had an existing Business Relationship Manager.

If you’re a small business owner, getting a break on your shopping with credit card rewards can be a big help for your business, especially without a long list of expense categories to track. Plus, this card is a little different from other credit cards and is meant to give your business more purchasing flexibility.

Here’s what you need to know about the card.

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Launch of Chase Ink Business Premier

New Chase Ink Business Premier℠ offers strong cash back opportunities and financing flexibility for small business owners. Although initially only available to Chase for Business customers who had an existing Business Relationship Manager, the applications are now publicly available.

The card comes with a somewhat hefty annual fee of $195. But as a small business owner, you can deduct this cost on your annual tax return as a business expense.

New business card! Ink Business Premier℠ Credit Card

  • Awards

    Earn 2.5% unlimited total cashback on purchases of $5,000 or more and unlimited 2% cashback on all other business purchases.

  • welcome bonus

    Earn $1,000 cash back after spending $10,000 on purchases within the first 3 months of account opening.

  • Annual subscription

  • Introduction AVR

  • Regular APR

    Flex for Business Variable APR: 16.49% – 24.49%

  • Balance Transfer Fee

  • Foreign transaction fees

  • Credit needed

welcome bonus

The first feature of the card that caught our eye is the sign-up bonus, which can be invaluable to almost any business owner. You will be eligible for $1,000 cashback after spending $10,000 on purchases within the first three months of account opening. And the best part is that this sign-up bonus might not be considered taxable income.

Now, you should never overspend just to earn a welcome bonus, but if you have some big purchases coming up related to your business, this could be a great way to earn some cash and a big $1,000 bonus. .

Since you earn at least 2% along the way, you’ll end up with $1,200 in cash back after earning the welcome bonus.

Awards

In addition to the sign-up bonus, the ongoing rewards of the Chase Ink Business Premier credit card includes:

  • Unlimited 2% cash back on all qualifying purchases
  • Unlimited 2.5% cash back on qualifying purchases of $5,000 or more
  • Unlimited 5% cash back on travel purchased through Chase Ultimate Rewards®

The cash back you earn on the card can be redeemed or used on the Chase shopping portal, including for travel purchases. Unlike other Chase Ink business credit cards, cash back cannot be converted into Chase Ultimate Rewards® points that can be transferred to Chase travel partners, even if you have an eligible Sapphire credit card.

Additional benefits

Other card benefits include:

But the biggest draw for small business owners should be the spending flexibility the card offers. It is the first Chase business credit card to offer “payment in full”, which mirrors a model similar to that of a charge card. Cardholders will have to pay off their balance in full each month, but in return you’ll have greater purchasing power. However, this is not an “unlimited payment card” as there will be limits on how much you can spend.

Plus, if you’re unable to pay in full each month, Chase offers “Flex for business”, which provides repayment flexibility. This benefit allows you to allocate part of your line of credit to purchases that you expect to pay over time, with interest.

Other options

Ink Business Unlimited® Credit Card

  • Awards

    Earn 1.5% cash back on every purchase made for your business

  • welcome bonus

    Earn $750 cash back after spending $7,500 on purchases in the first 3 months after account opening

  • Annual subscription

  • Introduction AVR

    0% for the first 12 months from account opening on purchases; N/A for balance transfers

  • Regular APR

  • Balance Transfer Fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fees

  • Credit needed

Why You Should Consider a Small Business Cash Back Credit Card

A A small business credit card that offers cash back on purchases can be a great tool to help your business. Whether it’s buying supplies, giving gifts to clients, paying for business trips or gifts for your employees, a small business credit card can provide the flexibility and organization needed. for business expenses.

Here is a brief list of the benefits of a cash back credit card for your business:

  • Reinvest rewards: Some business owners will take their rewards to reinvest in their business. This may mean buying new equipment, paying for useful software, or any other expense you deem appropriate.
  • Cumulative rewards: If you have employees who need a business credit card, you can order an authorized user credit card and all cash back from employee spending will go to your account.
  • Organization of expenses: Chase offers easy integrations to sync your purchases with popular accounting software such as QuickBooks®.
  • Ease of expensing employee costs: If you have employees who spend money for business purposes, you can easily see where and how much they are spending. Plus, by giving them a credit card, you can eliminate the step where they have to spend receipts and get reimbursed.

At the end of the line

As the credit card landscape continues to become more competitive, it looks like Chase is going after small business owners who want spending flexibility with its Chase Ink Business Premier credit card.

The card’s benefits are solid, but the annual fee is worth considering before applying. But in the first year, if you spend $20,000, you can expect at least $400 in cash back, plus potentially an additional $1,000 from the sign-up bonus. And even after the $195 annual fee, that still leaves you with $1,200.

But before you consider this card for your wallet, be sure to budget to see if it makes sense for your business.

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Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff alone and have not been reviewed, endorsed or otherwise endorsed by any third party.

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