For those of you salivating at the thought of a new credit card on the market, here it is. Chase has released a brand new credit card very similar to the Ink Bold. The only difference between the two is the Ink Bold is a charge card (meaning you have to pay it off every month) and the Ink Plus℠ Business Card is a credit card. Either way it is a ticket to 50,000 Ultimate rewards if you can swing the spending requirement.
Bonus: 25,000 Chase Ultimate Rewards Points after your first purchase. Then you get another 25,000 as a bonus once you’ve spent $10,000 on the card within the first three months of having the card.
Point Earning: Earn 5x the points per $1 when spent at office supply stores, cellular phones, landlines, internet, and cable TV services. Earn 2x the points per $1 with money spent at gas stations and money spent directly at hotels. Earn 1 point per $1 on everything else.
No limit to the amount of points that you can earn. The sky is the limit. If your business buys lots of things from Staples, or Office Max, this is a great card because you will accumulate points very rapidly for dollars spent at those stores.
Point Using: The points that you get from this card are Chase Ultimate Rewards. They can be transferred on a 1:1 ratio to British Airways, United Airlines, Southwest, Hyatt, Marriott, Priority Club, and Korean Air.
You can also use the Ultimate Rewards like cash through Chase’s Ultimate Rewards booking tool. The 50,000 bonus is worth $625 in airline tickets if bookable through their site. Brad has a great post outlining how to book with Ultimate Rewards
Point Expiration: Chase Ultimate Rewards will never expire, however, you must transferred to the program of your choice before you cancel the card or you’ll forfeit the points left over.
Annual Fee: $0 for the first year. $95 per year thereafter.
Foreign Transaction Fees: None.
Card Type: MasterCard– Business Credit Card.
Card Issuer: Chase Bank.
It is crazy how aggressive Chase is getting with their offers. They continue to release top notch credit cards on the market and their bonuses are much more generous than other credit card issuers. At some point they are going to slow down.
If you can swing the spending requirement, the Ink Plus℠ Business Card is incredible. If you can’t meet the spending requirement I’d recommend you go with the Sapphire Preferred, where the spending requirement is much lower.
If I could get 5 Chase cards at a time I’d do it in a heartbeat. I have tons of spend Oct-Dec but I’ll likely only be able to get approved for 1 (maybe 2) Chase cards and then I have to wait another year before I can meet min spends again. As it is now I can apply for another round of cards toward the end of October due to my last round in July.