Chase has soft-launched a new business card: The Chase Ink Business Premier. The card has been anticipated for some time and is available for in-branch application but will launch for all small businesses – both in-branch or online – starting in January.
Chase Launches Ink Business Premier Card for In-Branch Applications
Chase has had a busy Q4 in 2021. The bank recently launched its anticipated Aeroplan® World Elite Mastercard® earlier in December, plus made several holiday-centric spending bonuses for its Freedom family of credit cards and through its Pay Yourself Back program.
Now, Chase is rolling out another new credit card – this time for businesses. Chase has soft-launched a new Ink card: The Chase Ink Business Premier. The Premier, which features a $195 annual fee, is only available in-branch and requires a business relationship manager to apply.
Chase Ink Business Premier Details
While the full launch of the Ink Premier isn’t until some time in January, the full details of the card are known. Here are the stats on the new Ink Business Premier:
- Earn 2% cash back on all purchases
- Earn 2.5% cash back on purchases of $5,000 or more
- Earn 5% cash back on travel purchases through Chase Travel
- No foreign transaction fees
- Complimentary employee cards
- Cell phone protection of up to $1,000 per year
- $195 annual fee
The Ink Business Premier also comes with a $1,000 cash back statement credit after businesses make at least $10,000 in purchases with their cards within the first three months of account opening.
Interestingly, the Ink Premier looks like a charge card and not a revolving credit card. This would mean that companies could not carry a balance like a traditional credit card but would need to pay the balance in full every month. This makes the Ink Premier like the Capital One® Spark® Cash Plus for Business, which launched earlier this fall and features a similar annual fee ($150).
Chase will provide something called Flex for Business, which is a pay-over-time feature that operates in the same way as Amex Plan It or Chase’s own My Chase Plan.
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