Chase has a fourth card in its Ink Business lineup, and it breaks the mould. The Ink Business Premier is a pure cash back card — the first in the Ink family that can't be converted into airline miles or hotel points — and in exchange it pays a rate that's hard to find anywhere: 2.5% back on every purchase of $5,000 or more, with no cap on how many times you can hit that rate.
The card carries a $195 annual fee, which is steep for a business card, but the welcome offer helps soften the blow: $1,000 cash back after spending $10,000 in the first three months. Eligibility is independent of other Chase cards, so holding the Ink Business Preferred, Cash or Unlimited doesn't stop you applying — and authorised users can be added for free, handy for putting employee spending on the account.
Beyond the headline rate, the earning structure looks like this: 5% back on travel booked through Chase Travel, 5% back on Lyft rides through 30 September 2027, and a flat 2% back on everything else, with no foreign transaction fees anywhere. The 2.5% rate applies globally too, so large overseas purchases earn the same return.
Redemption is refreshingly simple. Cash back can go straight to a statement credit, your card balance, or a checking or savings account, with no minimums and no quirky point valuations — a dollar of rewards is genuinely worth a dollar. Chase does offer travel and gift card redemptions, but there's no bonus value there, so taking the cash is the obvious play.
Where the card quietly earns its fee is protection. It includes primary rental car collision coverage up to $60,000 for vehicles with an MSRP of $125,000 or less, trip cancellation and interruption insurance of up to $5,000 per traveller ($10,000 per trip), purchase protection of up to $10,000 per item for 120 days, cell phone protection of up to $1,000 per claim (three claims a year, $100 deductible), and an extra year of extended warranty on qualifying purchases. For anyone booking business travel or renting cars regularly, that package is worth real money.
The catch, and it's a real one: this card sits entirely outside the Chase Ultimate Rewards ecosystem. If you're a points-and-miles person who transfers to airline and hotel partners, look at the Ink Business Preferred instead, which earns transferable points for a $95 fee. The Premier also lacks lounge access and any statement credits to offset the fee.
Who should care? Business owners with heavy card spend — especially large invoices. Do the maths on the fee: if you'd otherwise earn 2% on a no-fee card, you only need $39,000 in $5,000-plus purchases annually to break even on the $195. For a business spending millions on supplies, an uncapped 2.5% is genuinely the best return on large purchases currently available, and the generous protections make it a solid all-rounder. For everyone else, the rest of the Ink lineup probably fits better.
Original review via One Mile at a Time.
