Update 1/23/18: u/mwwalk on Reddit reports that the $50k limit is reset with the conversion. Makes sense and good to know.
Chase is sending out a memo to bankers indicating that they’ll be streamlining the Chase INK line in early 2018. Letters will be sent out this week with more information.
- Chase INK cards are now always issued as Visa cards. Anyone with an old Chase INK Mastercard will be changed over to a Visa-branded card in February 2018 with a new card number and expiration. The existing Mastercard INK card will remain active until April 30, 2018.
- Some people have old, grandfathered INK products like the INK Classic and INK Bold. (The Classic is similar to the INK Cash and the Bold is similar to the INK Plus.) These will be converted to the current INK program in February 2018 with a new card number, expiration, and Rewards earning structure.
- I’m not sure what they refer to with a change in “Rewards earning structure.” Perhaps, they’ll be changing INK Bold cardholders to INK Preferred, not to INK Plus (?!). I don’t know, we’ll see.
I see two potential negatives here:
- Mastercard INK cards still earn 5x at PPDG. That’s a big hit for Mastercard INK cardholders.
- We’ll have to find out more about what changes are in-store for Classic and Bold cardholders. Assuming it’s just a shift to the Cash and Plus versions, it’s not a big deal. If they shift the Bold to become a Preferred, that’s a negative change for a lot of people.
Thanks to reader D. for sharing
