NEW YORK—Chase has added a brand-new business card to its Ink lineup.
The new $195-annual-fee Chase Ink Business Premier comes with a generous welcome offer of $1,000 cash back on $10,000 in business purchases in the first three months of account opening, Forbes reported.
The card earns ongoing unlimited rewards of 2% cash back, but purchases of $5,000 or more will earn 2.5% cash back and travel booked though Chase Ultimate Rewards will earn 5% cash back, making it one of the more generous rewards rates currently available on a business card. The card is also Chase’s first “Pay In Full” card, meaning cardholders will either have to pay the balance in full each month, or opt-in to Chase’s Flex for Business payment plan and make fixed monthly payments towards the balance, Forbes said.
“This is a departure from most business credit cards which charge a variable APR each month to carry a balance. The payment structure also puts the Chase Ink Business Premier in direct competition with the Capital One Spark 2% Cash Plus, which is a charge card and earns 2% cash back on every purchase,” Forbes said.