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Last week I wrote about how Chase is apparently introducing a new business credit card, called the Ink Business Preferred. To me that branding makes a lot more sense than their current line up of business cards, given that the “Preferred” branding matches their personal card, the Chase Sapphire Preferred® Card.
When it’s introduced in the next couple of months (they said it would be introduced before the end of the year), the details of the Ink Preferred Card will be as follows:
- The card will offer a sign-up bonus of 80,000 Ultimate Rewards points after spending $5,000 within three months
- The card will offer triple points on the first $150,000 spent annually on travel, telecommunications, shipping and advertising on social-media and search engines
- The card will have a $95 annual fee
Why you want the Ink Plus Card
The Ink Plus is one of the all around best business credit cards. It offers:
- A sign-up bonus of 60,000 bonus Ultimate Rewards points after spending $5,000 within three months
- 5x points on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services
- 2x points on the first $50,000 spent annually at gas stations and hotels
That’s a huge sign-up bonus, and an incredible return on everyday spend. While Chase will continue to offer this card to existing cardmembers for a while, they’ll stop taking new applications within the next few weeks, once the Ink Preferred is introduced. So this means this is your last chance to earn the 60,000 point sign-up bonus on this card, and also your last chance to get this card which earns an incredible 5x points at office supply stores, and on cellular phone, landline, internet, and cable TV services.
Chances are that being approved for this card won’t make you ineligible for applying for the Ink Preferred Card in the future.
Why the Ink Plus going away is interesting news
When we first learned about the Ink Preferred being introduced, my biggest question was what this meant for the Ink Plus. My assumption was that Chase wouldn’t accept applications for two business cards with the same annual fee and very similar names, so my expectation was that the Ink Plus would eventually be discontinued. It looks like that’s in fact what’s happening.
I can’t say I’m surprised, as the rewards structure on the Ink Preferred is probably more sustainable for Chase, and also offers bonus points in categories that more businesses are likely to spend a lot of money in.
The Ink Plus offers a big 60,000 point sign-up bonus plus 5x points in several categories. By the end of the year the card will no longer be open to new applications, so if you’ve been eying this card, I’d highly recommend applying while you still can. If history is any indicator, this shouldn’t impact your ability to earn the bonus on the Ink Preferred in the future.
Do you plan on picking up the Ink Plus Card before it’s no longer available to new cardmembers?