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Ever since Chase revamped their Ink Bold business card in November, I have been itching to get my hands on the The New Ink Bold. While the old Ink Bold had spending threshold bonuses and provided a 20% point bonus if you had a Chase business checking account, the new Ink Bold provides better overall benefits for my family’s spending needs. I had initially assumed that Chase would allow those with the old Ink Bold to switch over to the new benefits, if desired. However, that was not the case, and myself and many others have been told that since this is an entirely new credit card product, you have to apply for the new Ink Bold to get the new benefits. Of course, that brought up the question of whether or not those of us with the old Ink Bold will get the 50,000 Ultimate Rewards sign-up bonus if we get the new Ink Bold.
Today I saw the first report of someone saying that they did indeed get the 50,000 Ultimate Reward bonus for the new Ink Bold after also getting the 50,000 point bonus for the old Ink Bold. Woohoo!!! Check out post #4 in this thread. Granted, this is just one report, but it makes sense since Chase is treating this like a new credit card. Whether or not I get the sign-up bonus again, I will be applying for the new Ink Bold before the end of the year. However, I am very excited to know there is a decent chance of getting the 50,000 Ultimate Reward point sign-up bonus again. I find those points to be extremely valuable since they transfer 1:1 to Continental/United, Hyatt, British Airways, Marriott, and more…. In case you are weighing the pros and cons of the old Ink Bold and the new Ink Bold, here is a quick summary of the differences between the two.
Old Ink Bold (through November 2011):
- You receive 7,500 bonus points for spending $25,000 annually; an additional 15,000 bonus points after spending $50,000 annually; and an additional 25,000 bonus points after spending $100,000 annually.
- This card does charge a 3% foreign transaction fee.
- $95 annual fee.
- No point bonuses for spending categories. All purchases earn 1x Ultimate Rewards points.
- Can pair with a Chase business checking account (though I have read some limited reports that said personal works as well) to provide a 20% bonus on points earned.
The New Ink Bold
- Earn 5X points per $1 on the first $50,000 spent annually at office supply stores, on cable and wireless service, and landline communications.
- Earn 2x points per $1 on the first $50,000 spent annually on gas and hotel expenses.
- No spending threshold bonus or Chase checking bonuses.
- No foreign transaction fees.
- $95 annual fee.
If you spend a significant amount on this card each year, and most of those expenses are outside of the bonus categories on the new version of the card, then you are probably best served by sticking with the old Ink Bold. However, for the rest of us who don’t have tons of annual spending on this card, the new card is probably the better bet – especially if you have some spending on the card outside the United States.
I would love to earn 5x on my cable, cell phone, and landline expenses. As embarrassing as it is, we probably have over $500 in expenses from those categories each month. At $500 per month, the difference between 1x and 5x points on those categories alone is 24,000 Ultimate Reward points per year. That is a pretty significant amount for bills we were going to have to pay anyway. Of course being able to get 2x for gas and hotels is also a significant benefit for my family.
I can’t promise you will get the 50,000 point sign-up bonus for the new Ink Bold if you had the old Ink Bold, but I can tell you it is looking pretty good so far (update you can get both)! Remember, this is a business card, so you need to have some sort of business to apply. Do you sell things on eBay, Etsy, etc….?
Let me know if you have the old version of the Ink Bold and have since applied for the new version. Did you get your sign-up bonus again? Do you plan to try for the new Ink Bold in the future?
Disclosure: I do receive a sign-up bonus in the event you are applied for the new Ink Bold with my application link. As always, your support is greatly appreciated.