Chase Bank has made a big update to the new *ink premier*. The card first launched back in December 2021, but at the time, it was only available to existing Chase business customers.
That's changed as the card is now open for applications to the general public. And while the card looks similar to some of the heavy hitters in the Chase business card lineup like the *chase ink preferred*, the *ink cash*, and the *ink unlimited*, there are some key differences that you'll want to be aware of if you are interested in applying.
Primarily, you won't be able to transfer the cash back earned from the new Chase Ink Business Premier Credit Card to travel partners or to other Chase card accounts that earn transferable Ultimate Rewards points to maximize their value.
Instead, the Ultimate Rewards points you earn with the card are only redeemable for cash back, travel, or gift cards purchased through the Chase travel portal.
Here's the full look at everything you need to know about this new Chase Business credit card.
Learn more about the *ink premier*.
Full Benefits of the Chase Ink Business Premier Credit Card
Annual Fee
The annual fee on the new Ink Business Premier card clocks in at $195 each year and that is not waived for the first year of card membership. That's $100 more per year than the *chase ink preferred*Â which charges an annual fee of $95.
Because of this, the card is really intended for businesses that spend a lot of money each year and would prioritize earning cash back over points that are redeemable for travel.
Welcome Offer Bonus
As a part of the public launch, the Chase Ink Business Premier card is offering $1,000 cash back after making $10,000 in purchases in the first three months of card membership.
Since you will not be able to turn these points into transferable Chase Ultimate Rewards points to redeem towards travel, this is essentially just a 10% cash back rebate on your first $10,000 spent – as long as you can do it within the first three months of card membership.
Chase Ink Premier Earning Rates
Chase Ink Premier cardholders will earn 2% cash back on every purchase. You will earn 2.5% cash back on every purchase of $5,000 or more. Finally, you'll earn 5% cash back on any travel purchases through the Chase Ultimate Rewards travel portal.
There is no cap on how much cash back you can earn on purchases at those rates.
Pay in Full or Flex for Business
The Ink Premier is Chase's first pay-in-full card product in their business credit card lineup. That means cardholders will need to pay their balance in full each and every month.
If you don't pay in full, cardholders will be able to access Chase's “Flex for Business” program which essentially gives them an extended financing option and works very similarly to American Express' Pay Over Time option.
Other Benefits
Similar to other cards in the Chase Business card portfolio, you'll get a handful of protections on the Chase Ink Premier which are as follows:
- Authorized User cards at no additional cost
- Purchase Protection
- Cellphone protection
- Extended warranty protection
- Trip cancellation Insurance
- Trip Interruption Insurance
- Trip delay reimbursement
- Primary car rental coverage
Redeeming Points Earned from the Chase Ink Business Premier
As discussed above, you won't be able to transfer the cash back earned from the new Chase Ink Business Premier Credit Card to travel partners or to other Chase card accounts that earn transferable Ultimate Rewards points to maximize their value.
A Chase spokesperson said, “Given the card’s rich rewards earn potential, with 2% cash back and 2.5% large purchase bonus, Chase Ink Business Premier cardmembers will not be able to move their Ultimate Rewards points to other Chase cards or transfer to Chase Travel Partners.”
Instead, the Ultimate Rewards points you earn with the card are only redeemable for cash back, travel, or gift cards purchased through the Chase travel portal.
So at the end of the day, this seems to be a business card primarily for businesses who spend a lot and want to prioritize earning cash back instead of points redeemable for travel.
Take the Chase Ink Preferred card for example. The card earns points that can be transferred to airline and hotel travel partners, and if you use them to book travel through the Chase Ultimate Rewards travel portal, they'll be worth 1.25 cents each. That means $1,000 of cash back (or 100,000 Chase Ultimate Rewards points) would be worth $1,250 through the Chase portal.
And with an annual fee of $195, Chase Ink Premier cardholders would need to be spending at least $10,000 each year on the card just to break even on their annual fee investment. That is of course above and beyond the initial welcome offer bonus to earn $1,000 of cash back after spending $10,000 in the first three months of card membership.
Our Analysis
This seems to be a missed opportunity for Chase. On the consumer credit card side of things, they have the *chase sapphire preferred*, and the *chase sapphire reserve*. If you hold one of those cards with a Chase Ink Preferred, Chase Ink Cash, or Chase Ink Unlimited, you can combine the cash back from those cards into one balance which ultimately makes them worth more for travel.
Excluding the new Chase Ink Premier from that functionality seems like an interesting choice. Right now, it is unclear if Chase will make this option available in the future. But at the card's public launch, the bank seems to be taking a conservative approach with this new business card.
Bottom Line
The Chase Ink Premier Business Credit Card is now publicly available for applications. You'll earn $1,000 of cash back after spending $10,000 in the first three months of card membership.
But critically, these points will not be able to be combined with Ultimate Rewards points earned from other cards that make them worth more for travel.
Learn more about the *ink premier*.