The
Ink Business Premier® Credit Card is a good credit card for business owners with
good credit who plan to make big purchases and don’t want to deal with rewards rates that vary by spending category.
Ink Business Premier is worth its
$195 annual fee as long as 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.
Ink Business Premier Review Highlights
$1,000 initial bonus
The
Ink Business Premier initial bonus offer is
$1,000 in return for new cardholders 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. 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 you charge to the card. For example, if your purchase amounts to $10,000, you will earn $250 cash back.
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
1.15%. Plus, you will get 5% cash back on travel booked through Chase.
$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 just one $7,800 purchase per year, assuming you pay the bill in full by the due date.
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.
19.49% - 27.49% (V) APR on eligible 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. However, 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
22.15%, according to WalletHub’s latest Credit Card Landscape Report.
Unfortunately, balance transfers are not allowed with this card. 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 on WalletHub.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.