Details on the Chase Ink Credit Card Bonus

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Two weeks ago I did a quick post on the limited time sign up bonus for the three Chase Ink cards: Chase Ink BoldChase Ink Plus, and Chase Ink Cash! I wanted to give new readers the in’s and out’s of these credit cards and the overall Chase Ultimate Rewards program. If you are already well versed on these cards and this program, you can probably skip this post! However, if you are new to the points and miles games, this post along with my Chase Ultimate Reward series will probably come in pretty handy. So here we go…. 

The Chase Ink Bold currently has a 50,000 sign up bonus after spending $5,000 within the first three months (this card is no longer available), while the Chase Ink Plus has a 50,000 point offer after spending $5,000 within the first three months. The Chase Ink Cash currently has a sign up bonus of 20,000 points after spending $3,000 on the card within the first three months.

All three cards are part of the Chase Ultimate Rewards program, however, this program has two types of accounts: accounts where points can be transferred directly to participating partner loyalty program and then the accounts that cannot and cash back is the best option. With these three cards, the Chase Ink Bold and Chase Ink Plus allow the direct transfers while the Chase Ink Cash does not (along with the Chase Ink Classic but you can no longer apply for this card). However, if you have an account in both, the points earned from the Ink Cash can be transferred directly to an Ink Bold or Ink Plus account and then transferred to a loyalty partner program. Also, you can transfer points freely between your and your partner/spouses account. Keep in mind that Chase has started to close accounts where points where transferred between accounts of other friends/family members.

One thing to note is that these Chase Ink cards are business cards (not personal), but with all Chase applications you can use your Social Security number if you do not have an EIN (Employer Identification Number). Your business also does not need to be registered and you can apply as a sole proprietorship. So for example, if you are looking to start an eBay business, a blog, etc. you can still apply and use your personal SS#. If you do apply for one of the cards, there is a good chance you’ll need to call Chase’s Business reconsideration line just to answer some questions about your business. Feel free to email me with any questions about this!

Best redemption for Chase Ultimate Reward points:

I personally love the Chase Ultimate Reward earning credit cards as transferring the points earned to Hyatt, United, and British Airways at a 1:1 ratio is HUGE! There are more partners, but I value those three the most (you can read more about the airline and hotel partners here).

Value of Chase Ultimate Reward points: 

I value Chase Ultimate Reward points that can be transferred directly to loyalty partners at 2 cents per dollar. So if a sign up offer is 50,000 points, for example, I’d value that at $1,000. Although some might find a better or worse value, it really depends on how you redeem your points. If you do not want to be bothered with transferring the points and want to just redeem for any travel through Chase’s travel portal, points are worth a flat 1.25 cents a piece, so at the bear minimum you are getting for a 50,000 point offer is $625. For the accounts where you cannot transfer the points directly (i.e., Chase Ink Cash), you can redeem at a flat 1 cent per point – so for the 20,000 points it is worth $200 – unless you transfer those to another account and then they are worth more.

How many points do I earn per dollar when using these cards? (you can read a detailed comparison in this blog post)

  • Chase Ink Bold and Chase Ink Plus:
    • 5x points per $1 on business expenses up to a maximum of 200,000 bonus points/$50,000 spent (business expenses include: wireless communication services, cable and satellite television and radio services, office supply stores and wholesale distributors of office supplies)
    • 2x points per $1 at gas stations, hotels and motels up to a maximum of 50,000 bonus points/$50,000 spent
    • 1x points per $1 on all other purchases – no limit on points you can earn
  • Chase Ink Cash and Chase Ink Classic:
    • 5x points per $1 on business expenses up to a maximum of 100,000 bonus points/$25,000 spent (business expenses include: wireless communication services, cable and satellite television and radio services, office supply stores and wholesale distributors of office supplies)
    • Chase Ink Cash: 2x points per $1 at gas stations, hotels and motels up to a maximum of 25,000 bonus points/$25,000 spent
    • Chase Ink Classic: 2x points per $1 at gas stations, hotels and motels up to a maximum of 25,000 bonus points/$25,000 spent
    • 1x points per $1 on all other purchases – no limit on points you can earn

So as you can see one of the biggest perks of these cards (although by no means the only reason for these cards) is the 5x points categories, specifically at office supply stores (i.e., Office Depot, Staples, etc.). If you plan on going big (although I recommend treading with caution), you can spend up to $150,000 per person if you have all four cards. My assumption is the average person won’t even come close to spending this much and the $50,000 capped spend for the Ink Bold and Ink Plus will do. If you are really looking to maximize your sign up bonus points, my personal recommendation is to get the Chase Ink Bold charge card and Chase Ink Plus credit card due to the high sign up offers.

What are the differences between the four cards?

Chase Ink Plus credit card and Chase Ink Bold charge card are essentially 99.9% the same, but with one key difference – the Chase Ink Bold is a charge card where you must pay the balance in full each month, and the Chase Ink Plus is a credit card allowing you to pay the credit card over time (although there are high APR fees and I highly do not advise doing this!). Aside from that difference the cards are 100% the same with the exact sign up bonus, fees, and points earned on all spend. The Chase Ink Bold charge card is no longer available for new applicants. 

Now, the Chase Ink Classic credit card and Chase Ink Cash credit card are also very similar in nature – both have no annual fee, a 3% foreign transaction fee, and do not allow you to transfer your points directly to loyalty partners. While both cards give you 2x points at gas stations, the Ink Classic also gives 2x points at hotels/motels while the Ink Cash gives 2x points at restaurants. As mentioned previously, unfortunately Chase isn’t taking any new applicants for the Ink Classic card.

If you are new to Chase Ultimate Reward points, check out this prior blog series to learn more:

Disclosure: This post contains affiliate links. I will only list the best credit card offers as my goal is for you to travel on a deal!

Comments

  1. There is a question about business revenue in the application for the Ink cards. We would not want to encourage readers to lie in on a credit application.

    • @Chase – No where do I encourage others to lie. If it is a new business you can put $0 for the revenue. If it is an existing business you can put whatever that years revenue might be.

  2. I like that this post starts with the warning “I wanted to give new readers…” I wish more posts had the user level up front, or more warning when the post is just going to rehash the same stuff over again.. Keep it up.

    • @Gary – Glad you find that useful! I will start to incorporate that into posts where I find appropriate.

    • @Cerberus – Yes, you can apply for both cards. Chase does not have any set rule stating that you cannot apply for two cards the same day, but if you do apply for two close together you’ll probably have to call the reconsideration line.

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