Chase has unveiled its new business credit card. The Chase Inc. Business Premier Credit Card quietly launched in December 2021 to 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 cash-back credit cards, but it charges a higher annual fee, making it a better option for small businesses with a lot of big expenses.
Key receivers
- Chase has made the new Inc. Business Premier Card available to all eligible applicants.
- The card is designed specifically for small business owners who have large expenses.
- Despite the higher annual fee, the card doesn’t offer the more valuable travel redemption and transfer partners offered by Ink Business Preferred.
What you need to know about the new color business premiere
The Inc. Business Premier Credit Card is a small business credit card that packs a big rewards punch. As a new cardholder, you’ll earn $1,000 when you spend $10,000 on account opening within the first three months.
On an ongoing basis, you’ll earn 5% cash back on travel purchases made through Chase Ultimate Rewards, 2.5% back on every $5,000 in purchases and 2% back on other purchases. That said, the card does have a $195 annual fee, which makes the card attractive to small merchants who don’t make large purchases often.
You can redeem your rewards for cash back, gift cards, travel and more, but you won’t get the 25% extra value on travel payments like you do with the Ink Business Preferred Credit Card.
The card is also a payment card, which means you’ll need to pay off your balance every month unless you opt for the Chase Flex Business plan on some of your purchases to pay over time.
The card also offers:
- There are no foreign transaction fees
- Trip cancellation and interruption guarantee
- Travel delay refund
- Baggage delay insurance
- Previous car rental collision damage avoidance
- Mobile phone protection
- Purchase protection
- Extended warranty protection
Is the new color trade premiere a good deal?
The Inc. Business Premier Credit Card is primarily for small businesses with large expenses, typically those that make large purchases of $5,000 on a regular basis.
For comparison, the American Express Blue Business Cash Credit Card offers 2% cash back on the first $50,000 of each calendar year, and no annual fee.
To beat that card with the Ink Business Premier annual fee, you’d have to spend $39,000 on $5,000 in purchases each year to earn the extra 0.5%. Alternatively, you must withdraw a total of more than $69,500 each year because Blue Business Cash returns 1% after the $50,000 limit is reached.
Even so, there may be other cards that offer rewards rates that better match your business expenses and don’t require such a high annual fee.
When considering this and other business credit cards, it’s important to consider your company’s spending habits and overall preferences to find the best one.
