Posted by Chuck on April 29, 2018
Credit Cards

Published on April 29th, 2018 | by Chuck

175

[Expired] Chase INK Preferred 100,000 Points Signup Offer During Small Business Week [April 29 – May 5]

This deal is no longer available, click here for more Chase deals.

Update 4/30/18: Chase tells us that the offer is still only for BRM applicants.

The Offer

We wrote previously about the rumor of an increased INK signup bonus during National Small Business Week, and we’ve now gotten hold of a memo being sent out to Chase bankers confirming the rumor.

  • Get 100,000 Ultimate Rewards points when signing up for the Chase INK Business Preferred card and spending $5,000 within 3 months.
  • Historically, the first year’s annual fee has been waived for in-branch applications, can’t say for certain if that this will be the case here.

There are a few other offers shown below for things like payroll processing and merchant services.

Card Details

  • Card earns at the following rates:
    • 3x points per $1 spent on the first $150,000 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
    • 1x points per $1 spent on all other purchases
  • Points are worth an additional 25% more when you redeem them for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards (making points worth 1.25¢ per point)
  • Ability to transfer Chase Ultimate Rewards to Chase’s travel partners at 1:1 rate
  • No foreign transaction fees
  • Cell phone protection

Our Verdict

Hopefully we’ll even see an increased online offer (see prior post), but quite possible it’ll only be available in-branch.

I believe this offer will be valid for anyone applying in a Chase branch with any regular banker during Small Business Week. It’s possible there will be other limitations we aren’t aware of – please contribute data points in the comments if you try this out next week. It’s also possible that this is already live, but I’d guess it’s not live until Sunday, April 29.

The INK Cash card will be available in-branch with a $500/50k signup bonus offer, as shown in the above memo, but that offer is publicly available online now as well.

These offers will still be subject to the 5/24 rule, as well as the ongoing added scrutiny Chase applies to new card applicants, which will knock off a lot of us from being able to take advantage of this.

Thanks to D. for sharing the information!



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A.J
A.J

Personal wise, is this card any good for “personal use” at all? Given if you already have Sapphire Reserve and Ink Cash, the only bonus categories are shipping, advertisement. It doesn’t seems to be that great for $ 95 annual fee?

PS: Of course, cellphone insurance seems to be nice but other no annual fee card can do that also such as uber card and wells fargo cards.

Bill M
Bill M

It’s all about the 100k sign up bonus IMO

C Doc Fan
C Doc Fan

Sign up bonus is the major draw. But as a keeper this beats the Sapphire Preferred to death if you don’t want the annual fee that the Reserve has.

Ink Preferred Earns 3x Vs 2x points with SP for the same annual fee. Ink also has more bonus categories

W
W

It has internet cable and phone. It probably doesn’t make up for itself quite but that’s based on your bills.

Edit: just kidding I did my math with 1x at 1.25 value points. With 3x points you need about $212 a month in those bills to make upfor fee. Most likely a net positive card depending on your other cards.

Jake
Jake

that’s pretty good, between internet and phone we’re around $215 per month

C Doc Fan
C Doc Fan

The above calculation’s don’t take into account any opportunity cost of points.
Compared to a 2% card its $452 per month on Phone/Cable.
Compared to a 1.5% card it takes $352 per month on phone/cable to break even.
– There are plenty of 1.5% cards with no annual fee, So I would at minimum compare it to that.

That is valuing the UR points at 1.25 cents each. For me personally, I find that value can only be achieved with things like flights and cruises. For hotels, booking with Chase caused me to lose out on promotions and earning points that I would with true cash bookings. (Essentially your booking is with a “Travel Agency” volume discount.) On Car rentals I could beat Chase’s price unless it was a high volume / sold out week. I can barely justify booking with the Reserve card for most things. – But I suppose 1.25 is a modest value since you can always transfer to other programs.

A.J
A.J

Chase Ink Cash has that too and it’s 5x (> 3x). Of course, Ink Cash doesn’t offer cellphone protection.

grrizzly
grrizzly

I’ve had cellphones for 17 years, went through probably 10 different handsets. Yet, not one of them broke down, got lost or damaged. I’m surprised that people care about cellphone protection.

Ed. C
Ed. C

Same here. Got my first cellphone in 1992 and have never broken or lost one. Had one stolen last year.

My 24 year old son on the other hand goes through them like you can’t believe!

CM

The shipping category is also known as general business services not elsewhere classified. So, you can basically get surprise 3x from a whole bunch of vendors.

It also offers 4% back on National Car rentals through Visa SavingsEdge, although insurance is only primary for business trips (still, you’ll get secondary otherwise with the card as well).

A.J
A.J

Thanks! This is a good thing to consider.

A.J
A.J

I’m actually thinking switching my Chase quadfecta from (CSR, CF, CFU, CIC) to (CF, CFU, CIC, CIP). Given the fact I use transfer partner more and I already have Amex Plat for lounge access. The only thing I am missing is dining earn rate goes down from 3x to 2x (Chase Ink Cash has 2x on dining).

Lrdx
Lrdx

You can put the hold on your CSR / CSP / USB Altitude for primary rental insurance, but pay with CIP to get 3% travel + 4% from SavingsEdge when you return the car.

qmc
qmc

As long as you don’t get a post-return damage claim anyways.

Sean Proctor
Sean Proctor

What do you mean general business services not elsewhere classified? I just signed up for the Ink Preferred last week (June 7, 2018) in the branch and got 100K.

Jx
Jx

You will get 3x pts for plastiq bill pay.

mcafeeee
mcafeeee

that’s the kicker for me. As long as that continues to work I will keep the card.

Won
Won

Is this for the Ink Preferred? For any bill? Shoot, I didn’t know this.

NSingh
NSingh

How does Plastiq bill pay work in the 3x category? Would you mind explaining step by step? Thanks

Bryan
Bryan

Do you have to have a business to open this?

JR
JR

Wish the closest branch wasn’t over 175 miles away. 🙁

projectx
projectx

100k points, worth at minimum $1,500 if you transfer to CSR. More if you transfer to a travel partner. Not saying I’d make the drive for that; just something to chew on.

Jeff
Jeff

But it’s realy only the extra 20k that you’d get by driving, since you can get 80k online.

projectx
projectx

oh yeah. Duh LOL.

SamSimon
SamSimon

Jeff, online 5/24 rules not enforced? I don’t think so!

Pat S
Pat S

Yes 5/24 applies but doesn’t add to your 5/24 since it’s a business card

Yoni
Yoni

To bad you can’t tack on a player #2 CIP referral for 120K, lol

Will Ryan

What travel partners are points worth more than 1.5c each?

Curmudgeon
Curmudgeon

I usually get at least 2-3 cents/pt from Hyatt.

MickeyMouse
MickeyMouse

If you used Freedom Unlimited then transferred to Hyatt for misc purchases it’d be 1.5x better 🙂

Curmudgeon
Curmudgeon

Which is exactly what I do. 😉 But it’s not the question Will Ryan asked. 😀

Will Ryan

MickeyMouse can you explain that? i wasn’t able to figure it out Googling or on the Hyatt site. are you suggesting you use the points to buy dinners and in-room movies and stuff at Hyatt properties?

How can I do 1.5x better?

MickeyMouse
MickeyMouse

I have the Freedom Unlimited which earns 1.5 points per dollar spent.

I also have the Chase Ink and Chase Sapphire which have the ability to transfer points to partners.

I also have the Hyatt Card so I can transfer those 1.5x points earned on the Freedom Unlimited Card to Hyatt.

I find Hyatt Points value to be about 2.5 cents per point. If you combine that with the 1.5x points earned on Freedom Unlimited that’s 3.75 Points Per Dollar on your misc. spend.

You can use those points for stays (which is where you’ll get the most out of your points), or anything else Hyatt Offers.

David Sheffield
David Sheffield

Open up a personal checking/savings and business checking to tack on an extra $800 return from the trip.

CA
CA

I just called to request to be matched to this offer. Chase kept denying the match to 100,000 from 80k. Hopefully, now they will approve it.

James
James

Let us know how it goes. I just applied a couple weeks ago with the 80k offer. Would be great to get matched.

qmc
qmc

Why would they match to something that was rumored/leaked and isn’t even live yet… smh

atinge
atinge

If it is possible to match to this offer (CIP 100K) if I got approved in-branch with few weeks ago?

azpv
azpv

For those not familiar with the card, the full name is Chase INK Business Preferred. For business owners.

Yati
Yati

When applying for a business checking account for $300 bonus in branch earlier in the month, the banker also offered the Ink Preferred for 80K. I should get it in the mail very soon. Any guess if they’ll match me to the 100K offer? Maybe better to ask directly through the banker I dealt with?

CaveDweller
CaveDweller

I’ve been up awards every-time with in 60 days not a year call or go online .Don’t take a NO ..

rocco
rocco

I was just approved last week for the 80k. Anyway I can ask Chase to match this offer?

Ken
Ken

I opened mines 2 weeks ago. I’m also interested in knowing whether they’ll match this.

ozzie
ozzie

Look fwd to seeing any DP….

Chase
Chase

When you open this card, does it have to be opened in a business name? Or can you open in a personal name? Also, is there an advantage to opening it one way or the other? Thanks!

projectx
projectx

You can open in your name using your SS number as a sole prop.

Sarah
Sarah

When you fill out your Form 1040 Schedule C (Profit or Loss From Business) the “business name” field is optional. I never bothered giving my business a name so when I get business credit cards for “name of business” I just list my personal name, hasn’t been a problem, at least for AMEX.

ChurningForDays
ChurningForDays

Any idea if 1/30 applied to this?

Pat S
Pat S

Yes

ERC
ERC

Please explain. What’s 1/30?

James Lamont
James Lamont

1/30 is 1 credit card application in 30 days. Meaning that you cannot apply to this card if it’s been 30 days since your last application.
5/24 is the other term, meaning getting 5 cards in 24 months. Anything more than that usually Chase will deny you.
Someone had created a Reddit Churning Glossary extension for the Chrome browser with more terms.

Jonathan
Jonathan

Hoping for some guidance from the pros..

I applied two weeks ago for the Chase Business Ink Cash card for 50K points. According to Chase’s “Credit Journey”, I am 4 opened accounts in the last 2 years. Would that include the recent CIC card? (I am a bit confused about business cards and 5/24).

I am also planning to open a business checking. Thinking of doing both at the same time (if this rumor is true) which may look less suspicious.

Any thoughts or advice?

Thelement
Thelement

Your CIC does not count AGAINST the 5/24 status so your status is whatever it was BEFORE you applied for that card since chase biz cards don’t count.

The BAD NEWS though is that most people can only get a chase biz card 30 days after applying for their most recent card from any provider, including chase biz cards. So your hangup will likely be the CIC because you applied 14 days ago (ie less than 30 days ago).

Ed. C
Ed. C

That’s good to know. I hadn’t seen that data point anywhere before and couldn’t figure out why neither my wife or I could get approved for the CIC after getting instant approval for CSR (me) and CSP (my wife). Guess we need to wait a few more weeks.

Jonathan
Jonathan

Thanks for the replies everyone

Vic
Vic

Let me warn you that Credit Journey’s summarizes statistics are incorrect.

Please check you full credit report and count cards yourself. I personally use experience.com, but you can choose whichever you like. Just make sure to read the actual report instead of relying on summarized statistics.

Jake
Jake

If only I was under 5/24…. holding strong for 4 more months. The struggle is real my friends!

Celia
Celia

I have 4 credit cards I opened within the last 24 months (CSR, Barclays, BoA and Chase Amazon Prime card). I was just added as an AU for my spouse’s CFU card when it was opened a couple weeks ago. Will I get flagged for 5/24? I’ve never had to deal with that before. I have an INK cash card and a business checking account at Chase and I’ll be doing the offer in branch. Any advice? TIA.

projectx
projectx

Yes, AUs will count, making you 5/24. You can get it removed from your report by calling Chase. I did it for an AU card that had me at 5/24 and it was a pretty simple process. Only took two weeks to fall off but… YMMV.

Celia
Celia

Darn. Looks like we won’t have two weeks since the offer ends in a week. I thought I read somewhere that the reconsideration line would help but it was just in passing that I read that. I guess I can see if it pops up on my banker’s screen as preapproved when I visit there next week. Or maybe I’ll just wait on it. Thanks.

Eddy
Eddy

Could you please elaborate on getting this removed? Do you mean to call Chase when the account for which you are an AU is a Chase account or are you suggesting Chase can somehow remove non Chase references too?

Sarah
Sarah

Pull a copy of your credit report. If the account is listed on there with a open date in the past 24 months, it will count.

Darren
Darren

Will in-branch apps bypass the 1/30 guideline on biz cards? I was just approved for the CIC this week.

Pat S
Pat S

Has in the past

Ed. C
Ed. C

For those wondering if Chase will match the offer if you recently got the card. Don’t hold your breath. I tried several different ways to get them to match me with the new CFU 3X offer after I had the card less than 2 weeks and am STILL in my first billing cycle. The answer was “No” every time.

tuphat
tuphat

Will be interesting to see what happens to 5/24 and other policies in context of JPMC push to open more retail branches nationwide. In DC area alone, they’re supposed to open 70 branches. Any consumer enthusiasm/support will quickly fizzle if JPMC is overly cautious, snobbish, etc. & turns down lots of new account apps.

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