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Increased 60,000 point sign-up bonus on the Ink Plus and Ink Bold
On Thursday I wrote about Chase increasing the sign-up bonus on their Ink Cards for a limited time, which I consider to be the best business credit cards out there. Chase is offering an increased sign-up bonus of 60,000 Ultimate Rewards points on the Ink Plus and Ink Bold after spending $5,000 within three months.
Up until recently the sign-up bonus on the cards were 50,000 points, so this represents a 20% increase in the sign-up bonus, and is the highest publicly available sign-up bonus we have ever seen.
The last time they ran this promotion was last June, and it turned out to be the most popular credit card offer of the year.
Chase’s increased $300/30,000 point sign-up bonus on the Ink Cash
What I didn’t write about at the time is that Chase also increased the sign up bonus on their Ink Cash® Business Card, which is the no annual fee version of the Ink Plus and Ink Bold. They’ve increased the sign-up bonus on that card by 50%, from $200 to $300 after spending $3,000 within three months.
Converting Chase Ink Cash points into Ultimate Rewards points
Chase markets the Ink Cash as being a cashback credit card, though these points can actually be converted into Ultimate Rewards points. As long as you have a card that earns Ultimate Rewards points, like the Sapphire Preferred, Ink Plus, or Ink Bold, the points from the Ink Cash can be turned into Ultimate Rewards points. That means your $300 sign-up bonus can be converted into 30,000 Ultimate Rewards points.
Difference between Ink Cash and Ink Bold/Ink Plus
So assuming you have a card that accrues “premium” Ultimate Rewards points (meaning you can convert your Ink Cash points), what are the differences between the Ink Cash and Ink Plus/Ink Bold?
The major difference is that with the Ink Plus/Ink Bold you earn 5X points on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services. With the Ink Cash you earn the same bonus except only on the first $25,000 spent annually, as opposed to the first $50,000. I assume to most people that’s a non-issue.
Which is a better deal — Ink Cash or Ink Plus/Ink Bold?
Assuming you have the Ink Cash in conjunction with another card that accrues Ultimate Rewards points, like the Sapphire Preferred, I personally think that’s a better card to keep long term. That’s because it has no annual fee, as opposed to the $95 annual fee on the Ink Plus/Ink Bold.
That being said, the Ink Plus/Ink Bold does have a sign-up bonus that’s 30,000 points higher, which is a huge difference. Personally I value 30,000 Ultimate Rewards points at ~$450. So that’s a lot of points to give up for a no annual fee card, especially since the Ink Plus/Ink Bold annual fee is waived for the first year.
So if I were signing up for a card I’d probably go for the Ink Plus or Ink Bold first, though long term it’s tough to beat the value proposition of the Ink Cash in conjunction with another card that accrues Ultimate Rewards points.