Chase Ink Business Premier Review: Extra Cash Back on Big-Ticket Purchases

The Ink Business Premier® Credit Card is Chase's most rewarding, and expensive, cash back credit card. It earns impressive cash back rates, especially on purchases of $5,000 or more, and offers one of the largest cash rewards bonuses we've seen. For those perks, Chase charges a $195 annual fee. Find out if this card is worth the cost in our Ink Business Premier® Credit Card review.

Bottom line: This business credit card has some serious cash back potential with its purchase rewards and sign-up bonus. However, redemption options are more limited than with other Ultimate Rewards credit cards.

This credit card is a good fit for: Business owners with large expenses who want to save money by earning cash back.

Top perks

This business credit card has several valuable features that can save you money.

$1,000 sign-up bonus

You earn $1,000 in bonus cash back with this Chase card after you spend $10,000 on purchases in the first 3 months. Overall, this is one of the most lucrative sign-up bonuses, and it gives the card a lot of upfront value.

Cash back rewards

The Ink Business Premier® Credit Card earns:

• 5% back on travel purchases made through the Ultimate Rewards program
• 2.5% back on purchases of $5,000 or more
• 2% back on other purchases

One of this card's most interesting features is the 2.5% rate on purchases of at least $5,000. If your business frequently makes these big-ticket buys, then this could be one of the best credit cards for you.

Everywhere else, this card's cash back rate is reasonable, but unspectacular. There are other business credit cards that offer an unlimited 2% on purchases for a lower annual fee. The main draw is earning more on those big purchases. Business owners who frequently book travel through Chase Ultimate Rewards will also benefit from this card.

Want to see more options? Check out The Ascent's top business credit cards.

Free employee cards

There's no additional charge to add employee cards to your Chase Ink account. Purchases made with employee cards earn the same cash back rate. Chase also has some useful digital tools to monitor and control employee spending, including purchase alerts and spending limits.

Purchase and travel protection

This Chase business card offers the following complimentary protections on eligible purchases:

• Auto rental collision damage waiver that provides primary coverage when renting a car for business purposes
• Purchase protection for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account
• Extended warranty coverage that adds an additional year to eligible warranties of three years or less

Cellphone protection

Cellphone protection is one of those underrated credit card perks. In this case, it applies for you and your employees listed on your monthly cellphone bill when you pay it with your Ink Business Premier® Credit Card. It provides up to $1,000 per claim in cellphone protection against covered theft or damage. There's a maximum of three claims per 12-month period and a $100 deductible per claim.

No foreign transaction fee

There are no foreign transaction fees on international purchases made with this card. If you or your employees go on business trips outside the United States, or buy goods routed through an international supplier, you won't need to worry about that extra charge many credit cards add.

If you want more ways to redeem your rewards: The Ink Business Preferred® Credit Card is also a Chase Ultimate Rewards credit card with big bonus opportunities. But it has more flexible rewards points you can transfer to Chase's many airline and hotel partners or redeem with the card issuer's Pay Yourself Back program.

If you want to finance business purchases with no interest: The Ink Business Unlimited® Credit Card has a 0% intro APR on purchases for the first 12 months. This makes it an excellent choice if you have some big expenses you won't be able to pay off in full upfront.

What could be improved

There are some notable drawbacks to this Chase credit card.

Rewards can't be transferred

If there's one big frustration with the Ink Business Premier® Credit Card, it's that Chase is much more restrictive than usual about how you use your rewards. Technically, the card earns Ultimate Rewards points you can redeem for cash back, travel, or other methods at a rate of $0.01 per point.

With most Chase Ultimate Rewards cards, you can move points between cards to open up more redemption options. This makes it beneficial to have multiple Chase credit cards. For example, with other Ink cash back cards, you could move rewards to a Chase travel card, and then be able to transfer them to one of Chase's airline or hotel partners. You could also potentially redeem them at a greater value toward travel purchases.

With the Ink Business Premier® Credit Card, your rewards are essentially locked to that card. That makes it a poor choice for travel enthusiasts who like the versatility of Chase Ultimate Rewards points.

No 0% intro APR

Many popular business cards offer a 0% intro APR on purchases. This is a valuable perk if you have costly purchases coming up you'd like to pay off over time. The Ink Business Premier® Credit Card doesn't have this. In fact, it's designed to be paid in full every month.

COMPARE TOP PICKS: Best 0% APR Credit Cards

Pay in full card

Even though this is a credit card, it's what Chase refers to as a Pay in Full card. This means you're expected to pay the balance in full every month, like you would with a charge card. There is some flexibility, though: You can pay off eligible purchases over time up to your card's Flex for Business limit.

This isn't necessarily a huge problem, as it's always best if you pay your credit card balance in full every month to avoid interest charges. But with this card, this best practice is a requirement. If that's not what you're looking for, keep exploring more credit card reviews to find one that's a better fit.

A FICO® Score of 670 or greater is suggested to apply for the Ink Business Premier® Credit Card. Most approved applicants have a credit score in the good credit to excellent credit ranges. There are exceptions, as your credit score isn't the only thing that matters when applying, but it is important.

Another thing that can affect your application is the number of credit cards you've opened recently. Chase has an unofficial application rule, popularly known as Chase's 5/24 rule. Applicants who have already opened five or more credit cards during the last 24 months rarely have success getting a new Chase card.

LEARN MORE: A Guide to Chase's 5/24 Rule

• Your business has high monthly spending and you're looking for an easy-to-use cash back card.
• You often make purchases of $5,000 or more to maximize your cash back rate.
• You prefer to settle your full card balance every month.

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.