Chase Ink 70K & 30K Offers
Oh how I love Small Business Week. Sure, I own a few small businesses, but that really isn’t why. It is because Chase normally celebrates the week with increased offers on their Ink business cards. Thankfully this year doesn’t seem to be any different. Let’s take a look.
The Offers
The following offers are available in-branch only. For now the online offers remain at 60K/20K.
- Ink Plus: Earn 70K Ultimate Rewards points after $5,000 in spending during the first 3 months.
- Ink Cash: Earn $300 (30K Ultimate Rewards points) after $3,000 in spending during the first 3 months.
Analysis
Either of these offers is great, but of course I would personally go for the Ink Plus if given the choice. The Ink Plus does come with a $95 annual fee and it isn’t clear if it is waived with this offer. In previous years the annual fee was often waived when you applied in-branch, so we’ll have to see. Do keep in mind that applying in-branch does mean it will take some time. Personally, I would set an appointment and still expect it to take about an hour.
The other main advantage of the Ink Plus over the Ink Cash is that it unlocks points transfers to partners. I always recommend having either the Ink Plus or the Sapphire Preferred to unlock the transfers, so that is a consideration as well. I generally don’t recommend cashing in Ultimate Rewards for $.01 each.
5/24 Rule?
While I can’t speak to whether or not the 5/24 rule is in place, I personally picked up a new Chase Ink Plus card (my 3rd Ink card) two months ago and I have quite a few more than 5 new accounts in the past 24 months. My strategy was to apply and let the process go through with Chase instead of calling into reconsideration. This has worked well for me and others in the past.
Conclusion
With all of the ways to earn 5X with the Chase Ink cards, these offers are very attractive. Even putting aside points earning, the bonuses have significant value as well. If you aren’t ready to apply for one of these cards, then don’t let the extra 10K points throw your strategy off, but if you were already going to apply soon, then now may be the time.
You can find an image of the offers in this Reddit thread and a hat tip to Greg the Frequent Miler who told me about it.
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[…] I covered the details of a new 70K offer on the Chase Ink Plus card. For now it is available in-branch only, but for many it will be worth applying even given the […]
I downgraded my Ink Plus to Ink Cash last year . I have over 24 months since receiving the bonus . Can I hope to succeed applying for another Ink Plus for the same business to get the the new 70 bonus?
Approval is determined by a number of factors, but yes you should be eligible for the bonus if approved.
On a side note, if you’ve applied for the 60k bonus INK in the last 90 days you can SM them and request the 10k points to match the 70k offer.
Although declined initially, it did take a few back and forth emails but they sent the request to some other department and the next day a senior specialist wrote back that I (wife) would receive the 10k. Sure enough it was already in her account! I attached a screenshot of someone holding the 70k flyer in-branch and while persistent I was also polite, trying to recognize their generosity etc. You probably will be declined initially but try to get past the front line support and to someone who has more leverage to grant the points.
BTW one often overlooked perk of the INK Cash card is that, if still true, there’s a 0% APR for I think 12 months. Considering it doesn’t go on your credit report, it’s essentially a free short term loan with no credit implications. This could especially be useful if you’re into floating large sums of money through MS/ churning.
Can’t go wrong with either of these cards. To each their own, but these cards (I have 1 of each) are up there with my Sallie Mae cards as personal favorites.
Thanks for this.
I have sent Chase secure message about 70K offer, I recently got INK with 60K offer, and they said Chase will honor it.
http://www.bloomberg.com/news/articles/2016-04-27/inside-the-risky-jet-setting-world-of-credit-card-churning
My banker called me on Monday and informed me this better offer. I opened 18 credit cards during last 24 months. However, my app of CSP was still approved on Feb 1st regardless of the 5/24, probably because Chase is my primary bank. I have ~$4k monthly direct deposit, $36k in personal and biz checking and savings. Thus I was told I was pre-qualified for both CSP and Ink Plus.
Is there a code or reference for the 70k offer? I just applied for 60k and want to see if Chase will match. I know its in branch only, but doenst hurt to try
Sean,
I had to just call the Recon yesterday to move 10k from my CSP to get the United card approved.
Maybe I should call Chase and lower my credit line with them so if what Ben states above is true, I can get my next card without calling Chase and automatically be approved.
Any thoughts on reducing my credit line voluntarily?
I applied for the Chase IHG card back in July 2015 and they gave me a 13k limit. I then applied for the United on 4/1 and they gave me a 5.5k limit. This put me at ~45% of my reported income. So before I applied for the Hyatt, I lowered my IHG to 5k via SM (very painless, and it was done within a few hours). When I applied for Hyatt they gave me a 8.2k limit which brought the total credit Chase has extended to me to 49.89% of my reported income. Based on the fact that a) I was approved for Hyatt without calling, b) the “odd” credit limit of 8.2k c) my total Chase limit being very close to 50% of reported income, and d) similar pattern with my wife’s cards …is what I was basing my 50% of credit limit idea on. May only be a complete coincidence.
I am not sure if co-branded card vs chase card makes any difference to 5/24 rule.
Just another data point on 5/24…
Applied for 50k United offer 4/1/16 (Fri), approved without calling Recon on 4/5 (Tues). Applied for Hyatt 4/25, approved without calling Recon on 4/27. I have 17 applications/ 15 new cards (damn you Barclays USAir #2/CapOne Venture) in the past 24months, 0 in last 4 months, 2 in last 6 months, 5 more (total of 7) in past 12months.
My view on 5/24: if you’re credit is good and you’re under the limit for credit that Chase will extend to you (my guess based on me/SO’s credit limits across 11 Chase cards is ~50% of reported income), then you’ll most likely get approved if you don’t call recon. But multiple new apps in the past 3-6 months may be a determining factor as well that didn’t apply to me.