Great approval and data points. 
@Anonymous wrote:Hello guys, I applied for the business premier from my business relationship manager last week and was approved today. Kind of excited for the 2.5% back on the purchases above 5K as we have been using our Amex business platinum card as for the last ten months. Business income of $500K personal income of $102K credit score at the time of the pull was Experian 805. The best thing about this data point is I'm at 5/24 and still got approved. I've heard of people getting approved with the co-branded cards, but not the regular cards. 35K limit and 7K flex limit. Relatively small, but hey, I'll take it.
Congratulations. I assume you're talking about the Preferred, not the Premium.
35k is not small for a starting limit, it's big.
Update: I just learned that "7k flex" means you can only carry a balance of 7k. So I guess that is a little bit small for a $500k/year business. But I imagine they'll increase that over time. Why would they want to limit the amount of interest they can earn?
@Anonymous wrote:Yes you are correct
Wow, when you said "flex" I misunderstood what you meant. I thought it meant 7k over the limit so long as repaid in next billing cycle.
I wasn't aware that these cards, or any credit cards, distinguished between what your credit limit is and how much of a balance you can carry. With all the credit cards I've had, I've never experienced that dichotomy.
I learn something every day here
@SouthJamaica wrote:
@Anonymous wrote:Yes you are correct
Wow, when you said "flex" I misunderstood what you meant. I thought it meant 7k over the limit so long as repaid in next billing cycle.
I wasn't aware that these cards, or any credit cards, distinguished between what your credit limit is and how much of a balance you can carry. With all the credit cards I've had, I've never experienced that dichotomy.
I learn something every day here
That's because the Chase Ink Business Premier card is a hydrid charge card much like the AMEX Platinum, Gold, Green, and similar. Flex limit is essentially the same as Pay Over Time limit for AMEX. I thought this Chase charge card was going to be fantastic but since the points cannot be transferred to any other Chase UR cards or to transfer partners, it is just a cash back card giving you 2% on everything and then 2.5% on charges over $5000. If you only want cash back, it's very good and one of the better options for business cash back. I think this card is directly targeting people that are now using the AMEX Business Platinum for a lot of their spend since it has the same increased earning for purchases over $5000 but this card is also very similar to the Capital One Spark Cash Plus card as well but I don't believe the Spark Cash Plus has any sort of flex limit. It's interesting that Chase actually tells you what your charge limit is unlike AMEX and Capital One and presumably that can change over time.
I think the Chase Ink Business Premier should be much easier to redeem cash back with as well unlike something like the FNBO Evergreen Business. I just got the Evergreen Business card recently and was disappointed to find out that you have to redeem your cash back in increments of $25, $50, $100, $250, or $1000 so you are always leaving some rewards in the account each time you redeem. It would be better as just a minimum and not precise increments. The FNBO Evergreen Business does have the advantage of no annual fee though. I would prefer the Chase Ink Business Premier over it for my use case.
@Alephbet wrote:
@SouthJamaica wrote:
@Anonymous wrote:Yes you are correct
Wow, when you said "flex" I misunderstood what you meant. I thought it meant 7k over the limit so long as repaid in next billing cycle.
I wasn't aware that these cards, or any credit cards, distinguished between what your credit limit is and how much of a balance you can carry. With all the credit cards I've had, I've never experienced that dichotomy.
I learn something every day here
That's because the Chase Ink Business Premier card is a hydrid charge card much like the AMEX Platinum, Gold, Green, and similar. Flex limit is essentially the same as Pay Over Time limit for AMEX. I thought this Chase charge card was going to be fantastic but since the points cannot be transferred to any other Chase UR cards or to transfer partners, it is just a cash back card giving you 2% on everything and then 2.5% on charges over $5000. If you only want cash back, it's very good and one of the better options for business cash back. I think this card is directly targeting people that are now using the AMEX Business Platinum for a lot of their spend since it has the same increased earning for purchases over $5000 but this card is also very similar to the Capital One Spark Cash Plus card as well but I don't believe the Spark Cash Plus has any sort of flex limit. It's interesting that Chase actually tells you what your charge limit is unlike AMEX and Capital One and presumably that can change over time.
I think the Chase Ink Business Premier should be much easier to redeem cash back with as well unlike something like the FNBO Evergreen Business. I just got the Evergreen Business card recently and was disappointed to find out that you have to redeem your cash back in increments of $25, $50, $100, $250, or $1000 so you are always leaving some rewards in the account each time you redeem. It would be better as just a minimum and not precise increments. The FNBO Evergreen Business does have the advantage of no annual fee though. I would prefer the Chase Ink Business Premier over it for my use case.
Now I've learned something else. I never before heard of the Premier card.
Update: I just studied up on it, and can't see it being advantageous. I can already get 2% cash back across the board with the Amex Business Cash card and FNBO Business Evergreen card, without any annual fee. My business would very rarely be spending $5k on a single transaction, and even a business which did engage in that type of transaction frequently would have to do $40k worth in a year just to break even on the fee.
@SouthJamaica wrote:
Now I've learned something else. I never before heard of the Premier card.
You're not alone in that. The Chase Ink Business Premier isn't officially available to everyone for 17 days and only through a Business Relationship Manager in branch at Chase for now. Their launch page does have the details available publicly now but it's a brand new card.
