Thinking About Applying for the Chase Ink Preferred? You Might Want to Wait!

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Back in November, Chase came out with a new business credit card called the Chase Ink Preferred. Currently, the sign up offer for this card is that you can earn 80,000 Chase Ultimate Reward points after you spend $5,000 on the card within the first 3 months. While this is a great bonus offer, especially since Ultimate Reward points are worth a lot, there is rumor that Chase might actually increase the offer within the next few months. See Doctor of Credit rumor post

While Chase has not officially announced any increase offer, the rumor mill is that the 80,000 point offer will go up to a 100,000 point offer! And from what it sounds like, this rumor seems pretty accurate, the increase date is just unknown. Currently, the annual fee for this card is $95, although if you apply in-branch the fee is waived. It will be interesting to see if the annual fee will be waived once the new offer appears.

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What are the Sign Up Points Worth?

At mentioned above, as of today, you’ll earn 80,000 bonus points after you complete the minimum spend requirement. The points earned with the card are worth 1.25 cents each when booked through the Chase Ultimate Rewards travel portal. That means the 80,000 point sign up bonus is worth a MINIMUM of $1,000 towards travel. If you apply during the 100,000 point offer, the sign up offer is worth a MINIMUM of $1,250. Or, if you have the Chase Sapphire Reserve, you can transfer your points to that account and your points are then worth a minimum of 1.5 cents each! These points can also be transferred to loyalty partners where you could potentially receive a higher value based on how you redeem your points. Some popular transfer partners include Hyatt, Marriott, United, British Airways, Korean Air, etc. If you value your Hyatt points at 2 cents per point, for example, then the 80,000 points earned are worth $1,600 and the 100,000 points earned will be worth $2,000!

3x Points Per Dollar Spent

With this card, you’ll earn 3x points (up to $150,000 spent) on the following:

  • Travel
  • Shipping purchases
  • Internet, cable, and phone services
  • Advertising purchases made with social media sites and search engines

Earning 3x points on travel is huge, especially since this card comes with great travel benefits, i.e., trip delay reimbursement, baggage delay reimbursement, trip cancellation reimbursement, etc.

Already Have the Another Chase Ink Card?

If you already have another Chase Ink card (such as Bold or Plus), you are still eligible to apply for the Chase Ink Preferred card and earn the sign up bonus. This is a totally new card, The points earned from this card can also be combined with all Chase Ultimate Reward products you might have, such as Chase Sapphire, Chase Sapphire Preferred, Chase Sapphire Reserve, Chase Ink Cash, Chase Ink Bold, Chase Freedom, and Chase Freedom Unlimited.

Things to Know

Unfortunately, this card falls within Chase’s “5/24” rule. The “5/24” rule means if you’ve applied for 5 or more cards (personal cards from ANY bank) in the past 24 months you’ll automatically be denied for a Chase card. The 5 cards are from any bank and include being an authorized user. If you have less than 5 primary cards and authorized user cards take you over the 5 threshold, you can usually call the reconsideration line and ask for them to reconsider.

Since this is a business card it will NOT count against the number of cards that fall within the “5/24” rule when looking to apply for another card. That is one great perk of applying for business credit card! You can learn more about all Business credit cards here.

UPDATE: A Chase representative reached out and informed me that the increased bonus will be targeted to select customers.

Comments

  1. So this is business card, why it matters if one credit report shows 5 or more cards on personal card? Are you saying chase pulls personal report even one applies for a biz card?

    • @Lee – I am not 100% sure what you are asking. But essentially, this card falls within the “5/24” rule. Which means if you’ve applied for 5 or more personal cards in the past 24 months, you will not be approved. However, this card will NOT count towards the 5 or more counted cards if you are applying for another Chase card.

  2. Are you sure “Since this is a business card it will NOT count against the number of cards that fall within the “5/24” rule when looking to apply for another card. ”

    That’s true for other banks biz cards but chase knows if you’ve had one of theirs. Right?

  3. Currently, the annual fee for this card is $95, although if you apply in-branch the fee is waived. It will be interesting to see if the annual fee will be waived once the new offer appears.

    Do you mean the first year annual fee is waived?

    • @askmrlee – Sorry that wasn’t clear. I mean we do not know yet if the knew offer will have the annual fee waived the first year or not.

  4. This will be a targeted offer.. please check the update on DoC post…

    Update: According to the official media team with Chase, this will be a targeted offer.

  5. You say the new chase bonus will be targeted to select customers…does that mean other people cannot receive the increase bonus if you’re not selected?

    Also any idea on a rough guess when the increase will happen? Looking to get a new card in the next week and wondering if I should wait it out if it’s relatively soon.

    Thanks!

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