The Chase Ink Business Premier® Credit Card is a good card for business owners with good credit (700+ credit score) who plan to make big purchases and don’t want to deal with rewards that vary by spending category. Ink Premier is worth its $195 annual fee if you qualify for its initial bonus or spend around $10,000 per year. That will earn you enough rewards to at least break even, assuming you don’t rack up interest charges.

What I Like About Chase Ink Premier

$1,000 initial bonus

The Ink Premier Card's initial bonus offer is $1,000 in return for charging $10,000 to the card within 3 months of opening an account.

If you’re going to meet that spending requirement whether you get the card or not, this is a great deal. The average cash bonus is just a fraction of this, according to our research. But you shouldn’t drastically overspend just to qualify.
 

2.5% cash back on purchases of $5,000+

You will earn 2.5% cash back on each $5,000+ purchase that you charge to the card. For example, if your purchase amounts to $10,000, you will earn $250 cash back. It is pretty rare for a card to offer a rate this high across all purchase categories.
 

2% cash back on most other purchases 

Every time you buy something that costs less than $5,000 with the Ink Business Premier Card, you will earn 2% cash back. Very few credit cards offer a base rewards rate this high. For context, the average rewards rate among cash back credit cards is just 1.17%.
 

5% cash back on Chase Travel

You can book flights, hotels, rental cars, cruises and other travel accommodations through Chase’s portal and get 5% back in the process. It would be better if this applied to all travel purchases, not just those booked through Chase, but that’s probably wishful thinking.
 

Free employee cards

You can get cards for employees to use at no extra cost. You will earn rewards on their spending and have to pay for their purchases.
 

Lots of extra benefits

Cardholders benefit from supplemental perks such as rental car insurance, trip cancellation/interruption insurance, purchase protection, cell phone protection and extended warranty protection. These benefits could provide peace of mind and save you money if you familiarize yourself with their terms and conditions.

What I Don’t Like About Chase Ink Premier

$195 annual fee

The Ink Business Premier Card is easily worth its $195 annual fee if you qualify for its initial bonus. The annual fee also is worth paying if you earn enough from the card’s ongoing rewards. You could break even with as little as $3,900 purchase per year, assuming you pay the bill in full by the due date.

That said, the fee is much higher than average, and if you don’t plan to spend much, you might be better off with a business credit card that doesn’t charge an annual fee. 

Not great for financing purchases

Most purchases made with this card must be paid in full each month. Purchases that qualify for Flex for Business are the exception (you'll find out what purchases qualify when you're approved for an account). Those purchases will be added to the card’s Flex for Business limit and can be paid over time, with interest.
 

17.74% - 25.74% (V) APR on eligible purchases

The Ink Business Premier Card’s APR could be quite a bit higher than average, depending on your overall creditworthiness. The average business credit card’s purchase APR is 21.03%, according to WalletHub’s latest Credit Card Landscape Report. 
 

Balance transfers aren’t allowed

Unfortunately, you can’t transfer a balance from another card to Chase Ink Premier in order to save on interest. Fortunately, the best balance transfer credit cards offer plenty of potential savings.
 

700 credit score recommended

The Ink Business Premier Card requires at least good credit for approval. That means you’ll need a credit score of 700 or higher if you want good approval odds. You can check your credit score for free here on WalletHub.