80,000 Bonus Point Offer Now Live!

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Link: Ink Business Preferred℠ Credit Card

Yesterday I reported a rumor that the Chase Ink Plus would be officially discontinued today, and be replaced with a new business credit card.

That seems to be true, and we now have official details on the new Ink Business Preferred℠ Credit Card. The card is launching with an 80,000 bonus point welcome offer, which is higher than we’ve seen lately on the Ink Plus, so they’re clearly excited about the product.

The details on the sign-up bonus are as follows:

Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

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, so I think 80,000 points for the Ink Preferred is a generous starting offer.

Is the Ink Preferred rewarding?

Compared to previous products, the rewards structure is simplified on the Ink Preferred. Rather than earning 5x on some purchases and 2x on others like the Ink Plus, you’ll earn 3x points across a variety of categories:

Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.

We’ll have more analysis on the categories, card benefits, etc., in the coming days, but at first glance I think this make sense.

love my 5x earnings with the Ink Plus, but I think the reality is that most small business owners are spending more on digital services like online advertising than they are on office supplies nowadays. I’m glad internet and telecom are sticking around as a category, and I know a lot of people will get a lot of use out of the extra point on business travel.

I’ve had other Ink products in the past, can I apply for the Ink Preferred?

Yes — the Ink Business Preferred℠ Credit Card is considered a new product, and if you meet the other requirements you should be eligible for the signup bonus.

The big caveat here is that the Ink Preferred will reportedly be subject to Chase’s 5/24 restrictions (I don’t have data points on that yet, obviously, but that’s the buzz). So that will be a limiting factor for some people.

Are Ultimate Rewards points actually valuable?

With this sign-up bonus you earn 80,000 Ultimate Rewards points. If nothing else, each of those can be redeemed for 1.25 cents towards the cost of a travel purchase. So that’s $1000 worth of travel, though that’s definitely not how I would redeem the points, since there are much better uses of them.

Ultimate Rewards has almost a dozen transfer partners, which gives you several options:

Air France KLM Flying BlueIHG Rewards ClubSingapore KrisFlyerUnited MileagePlus
British Airways Executive ClubKorean Air SkyPassSouthwest Airlines Rapid RewardsVirgin Atlantic Flying Club
Hyatt Gold PassportMarriott RewardsThe Ritz-Carlton Rewards

80,000 Ultimate Rewards points is enough for a one-way award in non-peak season for travel in Korean Air first class between North America and Korea, Japan, China, or Northeast Asia, for example.

Or you could transfer them to Hyatt Gold Passport and redeem for four nights at the Park Hyatt Abu Dhabi.

Park-Hyatt-Abu-Dhabi-Grounds-07
Park Hyatt Abu Dhabi

Korean Air SkyPass and Singapore KrisFlyer are probably the best for first class redemptions, but United MileagePlus is still a strong option for business class awards. And there are some amazing hotels available through Hyatt Gold Passport.

Bottom line

We’ve said before that it makes a lot of sense for Chase to align their marketing on business and personal cards, so the “Preferred” branding is logical. The triple points offered on this card are also practical, given that they include categories in which many businesses spend a lot of money.

So overall I think it’s a great card, and the 80,000 bonus points are also compelling. That being said, the Ink Preferred will be subject to Chase’s 5/24 restrictions so not everyone will be eligible.

What do you make of the new Ink Preferred?

Link: Ink Business Preferred℠ Credit Card

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Comments

  1. @ steven — Well, the Ink Bold is a charge card, not a credit card, so that could be useful, and of course the earnings structures are different.

  2. @ LF — They don’t count towards the “5” once you have them, unless they are Chase products, I believe. But if you’ve had more than 5/24 you likely won’t be easily approved for this card.

  3. Say “Bye Bye” to 5/24 when Trump’s in charge…..to all you Obama voters that have been complaining about it yet voted for the monster that imposed the regulations that created it. You’re learning.

  4. Tiffany,

    Thank you very much for alerting us to the new card and the potential disappearance of the Ink Plus – this is very helpful for your readers.

    I think this will really be the last time to get in on the Ink Plus card (which is really better from the 5 x per $1 in the categories you mention.) Appreciate you helping your readers out by letting us use our links in this final stretch:

    https://applynow.chase.com/FlexAppWeb/renderApp.do?PID=CFFD2&SPID=FHRQ&CELL=600G&MSC=1504705996

    And, if your readers are looking for the Ink cash, here’s my link for that:

    https://applynow.chase.com/FlexAppWeb/renderApp.do?SPID=FLFL&CELL=63HB&MSC=1504705996

    Good luck, folks!

  5. @Melissa in what way did Dodd-Frank regs create 5/24? It’s a Chase bank policy to discourage abuse of their signup bonuses by credit card churners. I can’t think of any reason the White House would have any bearing on underwriting short of preventing racial or gender criteria.

    Not everything in the world relates to Presidential politics.

  6. @ Melissa you can’t be serious. 8 years out from the financial disaster banks created and you are celebrating getting rid of Dodd-Frank. People have really short memories. And as others pointed out 5/24 has nothing, nothing to do with financial regulations. You must work for one of the big four, I’d guess.

  7. The posting alludes to it being a generous ‘starting’ offer (a few times) which suggests that you think it could possibly be better. Do you think it’s worth waiting or am I reading too much into it? Thank you.

  8. Most of the time you can convert cards but not in this case. I can’t get one due to the 5/24 rule so I called to see if I could convert my Ink to this Business Preferred and they said it’s not possible(for anyone, not just me). I’d easily spend 150-250k a year on the card alone and I do a lot of spending with them on my other cards but no luck.

  9. Melissa…you blame 5/24 on Obama? Are there only a few working brain synapses that are stuck on making the simplest possible connection? As DJT would tweet: “sad.”

  10. Curious if traditional SEO payments will count toward the online advertising spend…I’ve worked in that area for a long time and there could be HUGE benefits to using this card to pay for it.

  11. Do you think these large bonuses Chase is now offering are because of the belt tightening on the 5/24 rule? Or is it some foreshadowing of a future devaluation/loss of transfer partners?

  12. I applied and got the “We need to review your application a little longer.” Should I call or just wait and see?

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