Why My Family is Applying for New Credit Cards Now

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Last week I was traveling the day a Chase Ink Bold link for 60,000 points was discovered.  I planned on probably applying when I got home, but that plan backfired when the application link was gone by then.  That was the week that we learned how quickly the “unofficial” Chase links can get shut down!  However, it wasn’t really quite time for me to have a new credit card application anyway, so I chalked it up to “wasn’t meant to be”.  Next, I planned to have my mom apply for the Chase Freedom 35,000 link that was briefly uncovered before it was shut down last week.  However, it was gone before I could talk to her and make sure that was the card she wanted next.  That is 0/2 for those keeping score.

So, when this week we saw the Chase Ink Bold offer directly from Chase increase the minimum spending requirement from $5,000 over three months to $10,000 over three months, I decided I needed to move on that card sooner rather than later.  You can read more about that offer changing here.  Truth be told, I am a little bit tired of minimum spending requirements right now, so I really don’t want to commit to another $10K on a specific card when I can just commit to half of that by acting quickly.  Then, yesterday I got an email that my affiliate links for the Chase Freedom 20,000 point offer are going to be deactivated at 10AM Eastern on Monday April 16th.  Of course, that doesn’t mean that the offer won’t possibly be available elsewhere, or that it is even changing substantially at all, but since the Freedom offer available directly on Chase’s website is only 10,000 points, I don’t want a repeat of last week where I kept missing out on deals because I couldn’t get to them fast enough.  Enough is enough.

In the event that the Freedom or the Ink Bold have a better offer come out within the next 90 days, I will secure message Chase and ask them to match the better offer.  They have shown recently that they are pretty good about doing that, so I don’t feel I am taking much of a risk in going for these offers now.

 

Why I want the Ink Bold Business Card:

Application Link: Ink Bold℠ with Ultimate Rewards

I am sure frequent readers of this blog already know why I want the new Ink Bold….the 5x point categories of office supply stores, cell phone bills, landlines, internet, and cable TV services on the first $50,000 spent annually in those categories.  It also awards 2x points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel.  Of course, the 50,000 Ultimate Reward point sign-up bonus after spending $5,000 in three months doesn’t hurt either!  I do have the old Ink Bold that I got in November 2011, but there are many reports that you can get the bonus again as the new Ink Bold is considered a new product.

As expected, I received the “we are reviewing your application” screen when I applied yesterday.  This was the same for me when I applied for the old Ink Bold.  I plan to call early early next week and check on the status/try to convince them I am worthy of the card.  I am quite okay with giving up the old Ink Bold card, if needed, to get this card.  We’ll see what happens.  I will keep you posted.

 

Why My Mom Wants the Chase Freedom Card:

 

Application Link: Chase Freedom® Visa

Update: the 20,000 point links are now dead.  There are 10,000 point offers available.  I have now linked to those new offers.

While running errands with my mom yesterday, I reviewed the various cards currently available that would work for her (because this is the sort of conversation one has with family when obsessed with miles and points) and she decided she wanted the Chase Freedom even though it has a lower sign-up bonus than most of the other options I gave her.  She choose the Freedom for the quarterly 5x bonus categories like gas, groceries, restaurants, or Amazon, and because she likes Ultimate Reward points (she already has the Chase Sapphire Preferred Card), and she really liked that it had no annual fee, so she could just plan on keeping the card for the long haul.  She has heard me talk about how beautifully the Chase Sapphire Preferred Card and the Freedom can earn together, and she wants in on that action.  She doesn’t mind churning a few cards here and there, but by no means is a serious credit card churner, so likes the idea of a card that will be a permanent resident in her wallet.  She also received the “pending review” screen, which also isn’t surprising from Chase.  She currently has two other Chase cards – a Sapphire Preferred card she got around October 2011 and another non-rewards Chase she has had since dinosaurs roamed the earth.

It was a few weeks earlier than I had originally planned on applying for another card, but I just feel that offers are tightening up and I didn’t want to get left standing on the wrong side of the fence (again).  Of course, this doesn’t necessarily mean it is the right time for you to apply for cards, but if these are two of the cards you are considering in the near future, just be aware the offers may be different in the near future.  I only applied for one card this time, not because there aren’t other good offers out there, but because this is the one that made sense for me this time.  I’m being very conservative with my applications right now as my credit score took a bit of a tumble when I paid off our old home after it sold.  Funny how that works?!  There are other cards I will go for later this year, but just not quite yet.

Are you getting in on some offers right now, or are you waiting to see what the second half of 2012 brings?

 

Disclosure: I do receive a commission if you applied for these cards using my links.  As always, your support is appreciated!

Pingbacks

  1. […] Mommy Points and several others have been warning about a similar decrease in the sign-up bonus for the Ink Bold business Visa from Chase. Not an actual decrease in the 50K Ultimate Rewards points, but an increase in the minimum spending threshold from $5,000 to $10,000 in the same three-month period. There is no way I can spend $10,000 in three months, so I decided to bite the bullet and apply now even though I would have preferred to wait until I had a slightly longer history of ad revenue from this blog. I used the link at Mommy Points. […]

Comments

  1. My husband and I jumped on the $350 cash back for Chase Freedom on aprlil 4 and called a week later to make sure we are approved (we had technically been declined). We got approved and we confirmed that we were getting that bonus. Yay! I am very tempted to get the British Airways one but in the last 6 months we’ve gotten the Sapphire, Continental and United and now the freedom. Not sure I can convince Chase to get British Airways approved 🙁

  2. I’d like to switch my Priority Club Visa for the Freedom, but I can wait – just got the Sapphire anyway. Right now I’m happy just fulfilling the offers I received from cards I’m not using. First I need to spend for the Sapphire bonus, then I’m getting 5x miles for groceries & gas from my free US Airways card (2500 miles max, tho), and then I’m getting 2500 Hawaiian miles for just $199 spending on airfare, hotels, car rentals, cruises & travel agencies (already fulfilled). I have been using the Hawaiian card because I’m paying the annual fee, but it sometimes gets left behind going for bigger miles. I did have enough Hawaiian miles to get a ticket for July at less than half price using cash & miles.

  3. Hi MP,
    I would like to apply for Freedom but just got approved for United card. My husband has not had a Chase app in more than 3 months so could apply under his name. I am sure it would require a reconsideration call but I dont think he would be happy about making that call. How successful is a reconsideration secure message in getting the job done?

  4. I have a number of chase cards at the moment and just got the Explorer last month as part of a 3 card churn. I don’t have a chase bus card, although I do have a bus checking with them. Dare I apply for the Ink Bold right now?

  5. @Mariana, congrats – that was a great deal! That would be tough, but I can see the temptation!
    @peggy, sounds like you have a bunch to keep you busy right now!
    @Deb, I have not heard of a reconsideration SM. It’s possible even if he doesn’t get initially approved that he will be auto approved after a few days, but of course, no guarantees.
    @PG, you will likely have to talk to recon, but since biz is different than personal you would have a good shot. Good luck if you go for it!

  6. Very impatiently awaiting for three months to lapse since my last app-o-rama (Jan 31, 2012). Hoping that the Chase BA card will still be around.

  7. I’m having trouble with a decision…I have a Chase Sapphire Preferred about to come up for renewal, should I convert it to Freedom, or just cancel and get a Freedom with a bonus. I just got $200 for opening a Chase Checking account, and I want the Freedom to get the extra points on small purchases. My reason for converting instead of cancelling/signing up is to stay in Chase’s good books. I’ve only paid an annual fee on the Hyatt card, cancelled numerous others over the year. Would appreciate a Chase expert’s opinion.

  8. @Tim, while I love the Freedom card, to me, it isn’t near as valuable without a Sapphire Preferred or Ink Bold companion. Reason being, you cannot transfer Ultimate Reward points to airline and hotel partners without one of those two cards. So, I would not personally want to convert it to a Freedom and lose that ability. I like your idea of staying in Chase’s good graces, but perhaps you can try converting another card to the Freedom if you want and keep the Sapphire Preferred (unless of course you also have an Ink Bold, then that is a different story).

  9. Tim, if you do have an option to transfer your points to a Sapphire card, what you can do, is apply for the Freedom anyways to get the bonus. If for some reason you don’t get approved immediately, then call the reconsideration line and if you still want to cancel the Sapphire, ask them to transfer your credit limit from Sapphire to Freedom and close down Sapphire. I just did that when I applied for the Freedom. I had the original continental and was about to be charged an annual fee. I was not approved immediately for the Freedom so I called them and asked them to close my continental card and transfer that credit availability to my freedom and the rep was happy to do it.

  10. Didn’t you have to sacrifice a sizable portion of your personal credit to secure the Ink Bold last time around? Or is my memory failing me?

  11. Although I do not have a business, I do volunteer for an organization I buy supplies for. Do you think I would be able to apply for Ink bold? I have four open Chase cards at the moment, the last one opened 11/2011. Would be willing to close BA card.

    Love the Freedom card with its generous categories. But keeping track of whether I get all of the bonuses each month is difficult.

  12. I have been struggling for the past couple of weeks to decide which 2 cards I was going to get in April. I had already decided on the Ink Bold, but was still researching for the second. After reading your post yesterday, I went ahead and applied for both. I knew I wouldn’t get automatically approved for the Bold, but thought I would with the Freedom. I didn’t? I guess I will have to call about both tomorrow. Also, on your link for the Freedom card, I did not see where it mentioned the 20,000 point offer. I am really hoping that after I meet the spending limits they will up my points to 30,000 or 35,000 for the freedom and 60,000 for the Bold.

  13. @Chris S, that is correct. However, a couple months later I got pretty much all of it back when I did a new personal Chase card application. We’ll see what happens this time.

    @Patty, I’m not sure whether or not you could use the volunteer organization as a way to apply, but think if you do anything else that could count as a business…etsy, ebay, reselling things in resale shops, etc. Most people have good luck applying as a sole proprietor with Chase.

    @iamamy, congrats on going for two great cards. You may still get approved without calling in for the Freedom – it just may take a few days. The application page says $200, but that is the same as 20,000 UR points. Thanks for your support and good luck – I hope you get matched to the higher offers (even though they are gone now.) 😉

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