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Ben has previously written about how Chase is apparently introducing a new business credit card, called the Ink Business Preferred.
Doctor of Credit (who generally has good sources on these things) is reporting that the Ink Preferred will launch tomorrow, November 14th. That means today could be your last day to apply for an Ink Plus card.
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.
If Chase stops accepting applications for the card, that 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.
How will this compare to the Ink Preferred?
While we don’t have official details yet, the buzz is 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
In general, 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, so this isn’t that surprising.
What about other small business cards?
The closest competitor to this card is The Business Gold Rewards Card from American Express OPEN, which offers a sign-up bonus of 50,000 Membership Rewards points upon completing minimum spend. Only the Ink Plus and Ink Cash offer 5x at office supply and telecom, however, so if those are big categories for you you should factor that in.
History suggest being approved for the Ink Plus won’t make you ineligible for applying for the Ink Preferred Card in the future, however, the Ink Plus is subject to Chase’s 5/24 restrictions so not everyone will be eligible.
If you are, and have been considering an Ink Plus® Business Credit Card, I would definitely do so sooner rather than later, as the application window seems to be closing rapidly.
Do you plan on picking up the Ink Plus Card before it’s no longer available to new cardmembers?