Revealed: New Chase Ink Business Premier Card

Revealed: New Chase Ink Business Premier Card

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Chase has just formally unveiled its new Ink Business Premier Card. For those with businesses that spend a lot, and those who are looking to earn cashback rewards, this will likely be an amazing card. For those in the miles & points world, this card will probably be a disappointment.

Chase Ink Business Premier Card details

The new Chase Ink Premier joins Chase’s lineup of Ink business cards, though in many ways this card is completely different. Note that you can currently only apply for this card at a Chase branch, though soon it should also be possible to apply online. Let’s go over the details of the card.

Ink Business Premier $195 annual fee

The Ink Business Premier has a $195 annual fee (including the first year), making it by far the highest annual fee Chase Ink business card. You can add employees to the card at no extra cost.

As a point of comparison, the Ink Business Preferred® Credit Card (review) has a $95 annual fee, while the Ink Business Cash® Credit Card (review) and Ink Business Unlimited® Credit Card (review) have no annual fee.

Ink Business Premier $1,000 welcome bonus

The Ink Business Premier is offering a welcome bonus of $1,000 cash back after spending $10,000 on purchases within the first three months. While that’s a huge bonus, note that the $1,000 cash back can’t be converted into airline miles or hotel points, as I’ll explain in greater detail below. While the card offers a great cash back bonus, personally I value travel rewards points more.

Ink Business Premier 2-5% cash back

The Ink Business Premier has the following rewards structure:

  • 5% cash back on travel purchases through Chase Travel
  • 2.5% cash back on purchases of $5,000 or more
  • 2% cash back on all other purchases

The card has no foreign transaction fees, so is good for purchases abroad as well.

The major catch with the Ink Business Premier

This is the detail that’s going to be disappointing for those who like to earn travel rewards points. Historically it has been possible to convert cash back rewards from no annual fee Ink and Freedom cards into Chase Ultimate Rewards points, and in turn transfer the points to airline and hotel partners.

Rewards earned on the Ink Business Premier can’t be transfered to other cards, and therefore also can’t be converted into airline miles and hotel points. This is a major restriction for those of us looking to earn travel rewards.

My take on the Chase Ink Premier

If you have a business that spends a ton on credit cards (especially large transaction amounts) and you want to earn cash back rewards, then the Chase Ink Premier is incredible. Being able to earn 2.5% cash back on purchases of over $5,000 is unrivaled. It used to be that a card offering 2% cash back was industry leading, so to see a 2.5% cash back card on large purchases is exciting.

In fairness, the card has a $195 annual fee, so to crunch the numbers on that:

  • Let’s assume you could earn 2% cash back with a card that has no annual fee (which isn’t as straightforward as it sounds)
  • Here you’re earning an incremental 0.5% back on purchases of $5,000+, so you could earn back that $195 annual fee with $39,000 in spending on purchases of $5,000+
  • For businesses that spend a lot, the math very much checks out here, in my opinion.

The major catch with the Ink Business Premier is that you can’t convert that 2.5% cash back into 2.5x Ultimate Rewards points that can be transfered to airline and hotel partners:

  • Since I value transferable points currencies at 1.7 cents each, there are still better cards for everyday spending for those of us who like to maximize travel rewards; the cards offering 2x transferable points offer the equivalent of a 3.4% return, by my valuation
  • I’m not sure what to make of the precedent that this sets; Chase’s most premium Ink business card will also be the first of the collection where points can’t be transfered to partners, so hopefully this isn’t a sign of things to come
  • For that matter, I feel like this creates some product confusion; previously each card had its unique features, but there were still some things in common, while in this case the card is totally different in terms of the rewards structure

Bottom line

The details of the new Chase Ink Premier have been unveiled. The $195 annual fee card will offer a welcome bonus of $1,000 upon completing spending, and will offer at least 2% cash back on all purchases, and 2.5% cash back on purchases of over $5,000.

This is an incredible card in terms of the return on spending for businesses that make large purchases and want to earn cash back. However, for those of us who like to collect points, unfortunately rewards on this card can’t be transfered to Ultimate Rewards airline and hotel partners. That’s a shame.

What do you make of the new Chase Ink Premier?

Conversations (14)
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  1. DTO Guest

    Whether it earns real UR is literally the difference between a must have and a hard pass.

  2. eoj Guest

    Perhaps slightly off topic here, Lucky - but have you ever written an article featuring how god awful the customer service experience is at Chase Travel?

    By far the best value I get out of accumulating Chase points is redeeming them for discounted travel using my Sapphire Reserve. The upfront ticketing process is fine, but god help you if you have to modify a ticket, as you will be forced to spend an hour...

    Perhaps slightly off topic here, Lucky - but have you ever written an article featuring how god awful the customer service experience is at Chase Travel?

    By far the best value I get out of accumulating Chase points is redeeming them for discounted travel using my Sapphire Reserve. The upfront ticketing process is fine, but god help you if you have to modify a ticket, as you will be forced to spend an hour with the most inept calling center you will ever have to deal with

  3. Adambgarrett New Member

    And while of course, they could be wrong, someone on the executive line did tell me the cashback was able to be transferred to other UR accounts of the primary cardholder.

  4. Adambgarrett New Member

    I'm still holding out hope that they allow transfers from cashback to UR, whether now or in the near future. It earns UR, is an Ink card, & within the terms it states twice, "a frequent travel program to which points may be transferred under this program, if applicable." It doesn't include the "combine points with other Chase cards with Ultimate Rewards" section for now, but maybe that will be revised after it is made available online?

  5. Dick Bupkiss Guest

    Cash, shmash. Feh.

  6. Ethan Guest

    It definitely competes with Hyatt Biz for worst new business card in 2021.
    At first I thought this is gonna be a 1.5c/p Ink version of CSR for similar annual fee, and now not only it doesn’t redeem its cash back at higher value, but also can’t combine? So, hard, pass.
    Not sure what Chase is drinking here.

  7. DavidS Guest

    For CB, BOA PR still beats it w/ everyday and large spend at 2.625% everywhere. (Yes, personal v. biz + PR qualification, though I believe BOA has some biz versions out there too.) Without UR transfers, this is dead.

    1. Jeez Guest

      My thoughts exactly. I was pretty excited about 2.5x UR on large spend but if the spend can only be redeemed at 0.01/point this is strictly worse vs. the Premium Rewards from BoA as a catch all card. Probably worse than the BBP before cap and potentially worse than the ink unlimited. Maybe there's some corner case where the customer can't get a high enough credit limit at BoA to cover all their spend and...

      My thoughts exactly. I was pretty excited about 2.5x UR on large spend but if the spend can only be redeemed at 0.01/point this is strictly worse vs. the Premium Rewards from BoA as a catch all card. Probably worse than the BBP before cap and potentially worse than the ink unlimited. Maybe there's some corner case where the customer can't get a high enough credit limit at BoA to cover all their spend and the charge card can handle it, but that seems really unlikely. I was legit planning out 5/24 strategy around this card but if it's true that there is no full-fledged UR points then it is a monster disappointment.

  8. mjonis Guest

    It seems this card DOES earn UR (see flyertalk where the picture of the T&C is posted). Also TPG states that you can transfer the UR points with a linked Chase card (ie: CSP, CIP).

    1. mjonis Guest

      AND now TPG has changed their posting. CANNOT transfer/combine UR points. But you can earn them, at least based on the screenshot I'm seeing of the chase T&C

  9. Dan Guest

    Any inkling if this could portend a change to the Chase Ink Cash sign up bonus which is also in the form of cash rewards (currently $750) but comes as UR points which are transferable?

    thanks

  10. Luke Guest

    While your rolling out new content/articles, given your high skin any plan yet to update your readers about the simply miles situation and if donations made on 12/13 will earn 240 AA mi/$ and if got any official source or something to confirm.

    This was something by going in big yourself got presumably many readers to jump in afterwards, I myself did 15 min after your post. Periodically refreshing both your and VFTW sites. Thanks

    1. Ben Schlappig OMAAT

      @ Luke -- I promise I'll provide updates as I see them and learn more. As of now there's nothing to report beyond the updates that I've provided. Like everyone else, I'm crossing my fingers. :)

  11. Sosie New Member

    For me being able to earn 2.5% cash back in my business is major. I'm still disappointed by not being able to convert them in too ultimate rewards,but I think for anyone who has a business that swipes a lot this is the card to go. Now I also value my points a lot but for someone that swipes a lot and doesn't travel that much I can balance it and make some huge cash back

Featured Comments Most helpful comments ( as chosen by the OMAAT community ).

The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.

Ben Schlappig OMAAT

@ Luke -- I promise I'll provide updates as I see them and learn more. As of now there's nothing to report beyond the updates that I've provided. Like everyone else, I'm crossing my fingers. :)

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DTO Guest

Whether it earns real UR is literally the difference between a must have and a hard pass.

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eoj Guest

Perhaps slightly off topic here, Lucky - but have you ever written an article featuring how god awful the customer service experience is at Chase Travel? By far the best value I get out of accumulating Chase points is redeeming them for discounted travel using my Sapphire Reserve. The upfront ticketing process is fine, but god help you if you have to modify a ticket, as you will be forced to spend an hour with the most inept calling center you will ever have to deal with

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