Why I Applied for the Chase Ink Plus Now

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A couple of days ago, I applied for my last rewards credit card of the year (barring some end-of-the-world bajillion points offer that I can’t refuse).  I had been meaning to do it for a few weeks now, but life kept getting in the way of sitting down and focusing on the application(s).  I waited so long that one of the cards I wanted was no longer available at the sign-up bonus threshold I wanted, but I’m actually pretty happy just getting one card this time around.  I plan to do a much larger churn in about three months, but one was the right number for now.

The one card I had to apply for this time was the Chase Ink Plus Business Card.  Many of you are probably very familiar with this card, and could recite its benefits backwards while sleeping, but for those who don’t yet know the immense value of this card, here are the highlights:

  • 50,000 Ultimate Reward points are awarded after you spend $5,000 on the card in the first three months
  • 5x points per $1 on the first $50,000 spent annually at office supply stores, on cable and wireless service, and landline communications.
  • 2x points per $1 on the first $50,000 spent annually on gas and hotel expenses paid directly to the hotel.
  • No annual fee the first year – then $95 in subsequent years
  • Access to the lucrative online Ultimate Rewards shopping portal
  • No foreign transaction fees
  • Ultimate Reward points transfer 1:1 to United, Hyatt, British Airways, Marriott, Priority Club, etc…
  • The Ink Plus is a newer card that is virtually identical to the Ink Bold except it is a credit card and not a charge card that has to be paid off every month (though it is obviously best to pay it off anyway to avoid interest charges).  The beauty is that you can get both cards (and both sign-up bonuses)!

Application Link:  Ink Bold® Business Card

Application Link:  Ink Plus® Business Card

I already had the old Ink Bold issued prior to November 2011 and the “new” Ink Bold issued starting in late November 2011.  I had received sign-up bonuses for both of those cards, but since the Ink Plus is a different (and newer) card product, I have no doubt I will get the sign-up bonus for 50,000 points for it as well after meeting the spending requirement.  If I could have just one card to earn miles and points it would be one of the Ink cards since they have such lucrative 5x bonus categories, and earn my favorite type of points.

The main reason I applied for this card right now is because it currently has just half of the spending requirement that it normally has, and I personally do not expect it to remain at this lower level indefinitely.  It previously required $10,000 in spending in three months to get the full bonus (though half of the bonus was awarded after first use, so that may have worked better for some).  Now you get all 50,000 Ultimate Reward points after spending $5,000 in three months, and for my spending patterns that is much easier.

To my shock, I got an instant approval!  This time I received an instant approval for the Ink Plus as my third Chase business card!

I got my first Chase business card by using my blog as my business after having it just a few months.  The revenue was very little, and they took some credit limit from my personal Chase cards to open my first business card.  I have heard of many diverse small businesses getting approved for a small business credit card.  Some examples are eBay businesses, Etsy shops, blogs, lawn services, Amazon reselling, etc.  If you are in one of those situations you may apply as a sole proprietor and use can your name as the business name.  You can use your social security number as the Tax ID number and count yourself as your one employee.

I’m pretty excited to have finished my last application of the year and to have a clear and easy path to 50,000 more bonus Ultimate Reward points!  Do you plan on applying for this card in the near future so that you just have a $5,000 spending requirement instead of the full $10,000?

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    same with amex cards, if you can’t prove honesty, don’t bother it cos they will shut them down for you.

    don’t encourage stupidity please
    thank you

  2. I applied several weeks ago. I don’t seem to apply for card on the same day. I applied for 4 personal and 1 business over the last 2 weeks. Approved for all and had to call reconsideration for the Chase Ink Plus. I wanted them to close my Ink Bold but CSR said I have to on my own at a later date.

  3. You said “To my shock, I didn’t even have to talk to the reconsideration line as I had to do to get my first two Ink cards approved”. OMG, that means you are a pro now. You are officially inducted into the elite club of credit card churners.

  4. traveler, if you are newer to applying for multiple rewards cards, or if you don’t do it that frequently, than applying on the same day isn’t as important. However, over time it because more important due to the number of recent inquiries on your credit report. Congrats on the recent approvals!!
    caveman, ha ha. Do I get a special trophy or certificate for my induction into the world of elite card churners. Ha ha.

  5. I’m not familiar with Chase points so please advise… If you have different Chase cards i.e. Ink Bold or Sapphire, etc. Do all the points you earn from various cards get added to one account like AmEx does for Business-Gold, Premier Rewards, etc.?
    Also, do Chase points transfer to other reward programs like Delta or Marriott.

  6. Congrats! I love Chase. I applied today for the Priority Club Visa (80,000 Points upon first use) and got approved right away. Would it be unwise for me to apply for the Chase Ink Plus on the same day? I already have the Bold, United Explorer, Sapphire, Freedom.

  7. MileageUpdate, couldn’t agree more!
    Divyesh, it doesn’t work exactly the same, but ultimately they can all be put in the same pot (at least in terms of all that earn Ultimate Reward points). They do transfer to Marriott, but not Delta. The full list is: British Airways, Korean Air, United, Southwest, Amtrak, Hyatt, Marriott, Ritz, and Priority Club. They all transfer 1:1.
    Kathy, congrats on getting in on that great offer! I think it is wise to apply on the same day. I have those exact cards (plus an extra Ink Bold), so great choices. I say go for the Plus if you want it while the spending requirement is still at 5K. Sounds like you probably have some credit lines to bargain with, if needed. Good luck if you decide to do it!

  8. MP, are you keeping your Ink Bold card and paying the fee? Or, are you downgrading to a no fee card? Or , are you closing the account.
    My annual fee just billed. Just wondering.

    • BeachMiles, I will be dumping the Old Bold that I don’t use. Some like the rewards program it offered, but it isn’t for me. I may keep my new Ink Bold passed the first year. I’m pretty conservative though and do not want a pattern of just churning the first year on every card. I won’t keep both Bold and Plus both indefinitely though.

  9. Is there an “official” end date for the $5k sspending requirement? I had read “at the end of the year.” I am trying to time an application with some other financial stuff, so the date is more important than normal.

    • ctbarron, I have tried really hard to both get an official answer myself and one I can potentially share with others, but only have made moderate progress with #1 and no progress with #2. I don’t know for sure if it isn’t 100% set in stone yet, or if they just don’t want the info out there. Either way, I was convinced enough that it likely won’t be too much longer that I went for it myself. So, to put it another way, I have heard no different than you. 😉

  10. Do you have to wait until the 3rd month before the Chase ink 50K bonus get posted even you met the spending in 1 month? because I already spend $5k and statement is close for the month but it only posted the amount I spent on the card with no 50K bonus.

    • No don’t have to wait til month 3 but maybe you hit it late in the cycle and it will post next month. Certainly shouldn’t be later than that.

  11. Thanks for the reminder, just got my wife to apply and get the card, I got it a week before the lower spending requirements, one quick call to the reconsideration line and we were all set. Love transferring these points to hyatt and united

  12. Well, I applied for the Priority Club card yesterday (80,000 points) and got instant approval. So, I felt brave and applied for the Ink Plus last night and got a message that they would have to review my application. I called the reconsideration line this morning to offer up additional information. I was told that I had too many cards with chase and too much open credit with them. I now have the Ink Bold, Priority club visa, sapphire, freedom, united explorer. All the personal cards have more credit than I really need (to be honest). I offered to give up some of my personal credit line to open the Ink Plus. After lots of questions, he approved me. I am excited about the 50,000 UR points that I will gain. Should I have hung up and tried again or was it right for me to “offer” to move some credit around?

    • Kathy, it is always possible you would have gotten another answer from another person, but it is pretty common to have to trade some credit around once you get to a certain point with Chase. Only you know if you are comfortable with what they had you trade, but in general that is a pretty common occurrence. Congrats on getting approved!!

  13. Used your referral link MP. Got the “we need to review your application” message. Immediately called reconsideration and got approved in 2 minutes without them even asking me a single question. I certainly didn’t need 20k credit line, but I guess I can move that around down the road. Will add this to my Freedom, Sapphire, and Ink Bold collection. Love me those UR points. Thanks!

    • SG, congrats on the pretty easy approval! Great example of how reconsideration isn’t always a tough call at all. Also, thanks for your support. Enjoy your UR points!

  14. Approved after calling the recon line and was able to move around some credit to my Sapphire card, which had been instantly approved with a very low limit. Thanks.

  15. I got a bold at the end of November. Excited I finally have an Ultimate Rewards card! I will eventually apply for the Ink Plus with the justification that I want the option of not paying in full each month (even though I will). Can I switch my Bold to a no fee version when the annual fee comes up? Will that make me not eligible for the Ink Plus when I finally do do it?

    Also, MommyPoints what did you say to chase when explaining why you wanted a second (and a third?) business cards? Same business but different spending? Or just completely different businesses?

    Great blog!

    • Matt, congrats on getting the Bold! Your justification for the Plus is spot-on, though with me they haven’t yet asked why I wanted another one. It was more a matter of just asking about my business to make sure I could support the credit line (or shifting some from personal when they thought I couldn’t). Otherwise, just say you want to keep some types or purchases separate, or want to maximize based on the different bonuses each card grants, etc.. A no-fee version won’t make you ineligible for the Plus.

    • Mark, I have to say….nice choice! If you are just going for one this time around, that is the one to go for. Well done!

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