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Update: Chase has reached out to me in response to this article to confirm that the Ink Cash card will remain open to new applications and will retain its 5X categories as is. Good news for those looking to still earn 5X at office supply stores, although you will now have a lower spending limit. Here is what they said:
While the Ink Plus card will remain the same for current Ink Plus cardholders, it will no longer be offered to prospective customers when the Chase Ink Business Preferred card launches later this year. The good news is that for business owners who love 5x on office supplies and telecom, they can still get this bonus point category when using the Chase Ink Cash card. Overall, this provides some differentiation in choices for business owners for a card that best fits their needs.
Ink Plus Discontinued
Last week I covered a post by Mile Cards citing an anonymous source saying that the Chase Ink plus was sticking around. That site has had reliable information in the past, but they were wrong. Today, The Points Guy (a site with perhaps the closest Chase affiliate relationship) is confirming that the Chase Ink Plus, the lovable 5X earning business card that we have all grown to love, will NO LONGER be open for new applications once the new Ink Business Preferred launches.
We still don’t know exactly when the Ink Preferred card will launch (Chase simply said “later this year”), but the issuer has confirmed that the Ink Plus will no longer be available to new cardholders as of that date.
Other Things of Note
Among the other takeaways here are:
There is no news yet on the fate of the no annual fee Ink Cash(Update: As mentioned above, Chase has confirmed the Ink Cash will remain available for new application.)
- You will be able to convert other Ink cards to the Ink Preferred if you want
- You should be able to get an Ink Plus now if you are eligible and an Ink Preferred later since they are separate products, but keep in mind that 5/24 most likely will apply
- There is no indication how long the current 5X benefits will remain in place for existing cardholders, but I would suspect it will be quite a while
For now you still have some time to get an Ink Plus so I wouldn’t worry about rushing out to apply for one, but it seems that its days are numbered. While we do not have a launch date for the Ink Preferred, I suspect Chase will release one in advance which will then let everyone know how long they have to get an Ink Plus.
What are your thoughts on this? Is the Ink Plus going to be missed or do you welcome the new Ink Preferred with its 3X categories and higher spending limit?
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.