Chase has officially made its new business credit card available to the public. The Chase Ink Business Premier Credit Card was quietly launched in December 2021 for select customers, but now anyone can apply through the credit card issuer’s website.
The card offers a bigger sign-up bonus and better rewards than other Ink cashback credit cards, but it also charges a higher annual fee, making it a better option for small businesses with lots of money. significant expenses.
Key points to remember
- Chase has officially made the new Ink Business Premier card available to all eligible applicants.
- The card is designed specifically for small business owners with lots of big expenses.
- Despite its higher annual fee, the card does not offer the benefits of more valuable travel exchanges and transfer partners that the Ink Business Preferred provides.
What to know about the new Ink Business Premier
The Ink Business Premier Credit Card is a small business credit card that offers great rewards. As a new cardholder, you’ll earn $1,000 when you spend $10,000 within the first three months of account opening.
On an ongoing basis, you’ll earn 5% cash back on travel purchases made through Chase Ultimate Rewards, 2.5% back on every purchase of $5,000 or more, and 2% back on all other purchases. That said, the card charges an annual fee of $195, which makes it less appealing to small business owners who don’t frequently make large purchases.
You can redeem your rewards for cash back, gift cards, travel and more, but you won’t get 25% more value on travel redemptions or access to transfer partners like you do. would do with the Ink Business Preferred credit card.
Plus, the card is a charge card, which means you have to pay off your balance in full each month, unless you opt into a Chase Flex for Business plan on some of your purchases to pay them off over time. .
The card also offers:
- No foreign transaction fees
- Trip cancellation and interruption insurance
- Travel delay reimbursement
- Baggage delay insurance
- Collision Damage Waiver for Primary Rental Vehicles
- Mobile phone protection
- Purchase Protection
- Extended warranty
Is the New Ink Business Premier a good deal?
The Ink Business Premier credit card is best suited for small businesses with a lot of expenses, especially those that regularly make large purchases of $5,000.
For comparison, the American Express Blue Business Cash credit card offers 2% cash back on the first $50,000 spent each calendar year, and there is no annual fee.
To beat this card with Ink Business Premier’s annual fee, you’ll need to spend at least $39,000 on $5,000 purchases each year to recoup the extra 0.5%. Alternatively, you will need to spend more than $69,500 in total each year, as Blue Business Cash reverts to 1% after reaching the $50,000 limit.
Even so, there may be other cards that offer rewards rates that better match your business expenses and don’t have such high annual fees.
When considering this credit card and other business credit cards, it’s important to consider your company’s spending habits and general preferences to find the best fit.