Last week, Chase announced yet another Ultimate Rewards earning credit card – the Chase Ink Plus. For the most part, it is 99% the same as the current Chase Ink Bold credit card. The only difference is that this is a credit card not a charge card.

• Charge card: Does not allow you to carry a balance. If you do not pay your balance in full by the due date, you will pay a penalty. However, with these types of cards you are typically allowed to borrow money for about 30 days.
• Credit card: Allows you to carry a balance and just pay a minimum payment. The balance rolls over to the next month and you are charged interest.

A charge card vs. a credit card is really up to you and your spending and payment habits and desire. Having both types of cards actually helps your credit score in the “types of credit used” category. This particular category makes up about 10% of your overall FICO score.

Bonus points for new card holders:

• 50,000 points after spending $5,000 within the first 3 months
• Since this is a different product, you should be able to get the bonus points even if you’ve already applied for the Chase Ink Bold and received the 50,000 bonus points for that card
• This card comes with a $95 annual fee, but waived for the first year

Perks of this card (exact same as the Chase Ink Bold!):

• Earn up to 5x points per $1 on business expenses up to a maximum of 200,000 bonus points/$50,000 spent  (business expenses include: wireless communication services, cable and satellite television and radio services, office supply stores and wholesale distributors of office supplies)
• This also includes spend at Staples and Office Depot, for example, where you are able to purchase gift cards for a variety of merchants, along with American Express and Visa gift cards! This means 5x points on all purchases!
• Earn 2x points per $1 at gas stations, hotels and motels up to a maximum of 50,000 bonus points/$50,000 spent
• Earn 1x points per $1 on all other purchases
• No foreign transaction fees
• Free additional cards (the primarily card holder will receive all the points)
• Airport lounge access to over 350 VIP lounges worldwide. First two visits per year are free, then $27 per person.

Reasons to get this card:

1. You want an additional 50,000 Ultimate Rewards points – which is a great reason in itself!
2. If you spend more than $50,000/year on business expenses and want to continue to earn your 5x points
3. If your Chase Ink Bold card is hitting its annual fee, you can cancel that card and get this card and continue with the perks

Overall, I am very excited for another opportunity to earn an additional 50,000 UR points. I personally will be using my points by transferring them to Hyatt hotels or United as I personally think they are the best redemption. However, other loyalty opportunity include: British Airways, Korean Airways, Priority Club, Marriott, Ritz Carlton, and Amtrak.

If you’ve been reading this blog often, you are probably full aware of the Ultimate Rewards program, but if not, here are some prior posts to learn more:

• Post #1: Introduction to Chase Ultimate Rewards Program
• Post #2: Maximizing Chase Ultimate Rewards with Chase Freedom
• Post #3: Downgrading your Chase Ultimate Rewards Card to Avoid the Annual Fee
• Post #4: Best Redemption for Chase Ultimate Reward Points – Hotel Stays
• Post #5: Best Redemption for Chase Ultimate Reward Points – Air Travel
• Post #6: Chase Sapphire Preferred vs. Chase Sapphire
• Post #7: Chase Ultimate Rewards: Sapphire Preferred vs. Ink Bold
• Post #8: Top 10 Chase Ultimate Reward Questions

Key Links:

• Chase Ink Plus: 50,000 points after spending $5,000 within the first 3 months
• Chase Ink Bold: 50,000 points after spending $5,000 within the first 3 months
• Chase Sapphire Preferred: 40,000 bonus points after spending $2,000 in 3 months

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