A couple of days ago, I applied for my last rewards credit card of the year (barring some end-of-the-world bajillion points offer that I can’t refuse). I had been meaning to do it for a few weeks now, but life kept getting in the way of sitting down and focusing on the application(s). I waited so long that one of the cards I wanted was no longer available at the sign-up bonus threshold I wanted, but I’m actually pretty happy just getting one card this time around. I plan to do a much larger churn in about three months, but one was the right number for now.
The one card I had to apply for this time was the Chase Ink Plus Business Card. Many of you are probably very familiar with this card, and could recite its benefits backwards while sleeping, but for those who don’t yet know the immense value of this card, here are the highlights:
- 50,000 Ultimate Reward points are awarded after you spend $5,000 on the card in the first three months
- 5x points per $1 on the first $50,000 spent annually at office supply stores, on cable and wireless service, and landline communications.
- 2x points per $1 on the first $50,000 spent annually on gas and hotel expenses paid directly to the hotel.
- No annual fee the first year – then $95 in subsequent years
- Access to the lucrative online Ultimate Rewards shopping portal
- No foreign transaction fees
- Ultimate Reward points transfer 1:1 to United, Hyatt, British Airways, Marriott, Priority Club, etc…
- The Ink Plus is a newer card that is virtually identical to the Ink Bold except it is a credit card and not a charge card that has to be paid off every month (though it is obviously best to pay it off anyway to avoid interest charges). The beauty is that you can get both cards (and both sign-up bonuses)!
Application Link: Ink Bold® Business Card
Application Link: Ink Plus® Business Card
I already had the old Ink Bold issued prior to November 2011 and the “new” Ink Bold issued starting in late November 2011. I had received sign-up bonuses for both of those cards, but since the Ink Plus is a different (and newer) card product, I have no doubt I will get the sign-up bonus for 50,000 points for it as well after meeting the spending requirement. If I could have just one card to earn miles and points it would be one of the Ink cards since they have such lucrative 5x bonus categories, and earn my favorite type of points.
The main reason I applied for this card right now is because it currently has just half of the spending requirement that it normally has, and I personally do not expect it to remain at this lower level indefinitely. It previously required $10,000 in spending in three months to get the full bonus (though half of the bonus was awarded after first use, so that may have worked better for some). Now you get all 50,000 Ultimate Reward points after spending $5,000 in three months, and for my spending patterns that is much easier.
To my shock, I didn’t even have to talk to the reconsideration line as I had to do to get my first two Ink cards approved. This time I received an instant approval for the Ink Plus as my third Chase business card!
Even if I hadn’t received instant approval, I was prepared for a call to the business reconsideration line at 1-800-453-9719. I have done it a few times before, and am pretty familiar with their favorite questions. Here are the questions they have asked me in the past:
- How long had I been in business?
- What does my business do?
- How many employees did I have?
- What is my annual revenue?
- How much of that is profit?
- How many liquid assets did I have (personal assets count)?
- What do I do for my “day job” (not the business the card is used for)?
- How long have I worked at my “day job”?
- What is my personal yearly income including my “day job”?
I recommend calling reconsideration within a day or so of applying if you don’t receive an instant approval. I got my first Chase business card by using my blog as my business after having it just a few months. The revenue was very little, and they took some credit limit from my personal Chase cards to open my first business card. I have heard of many diverse small businesses getting approved for a small business credit card. Some examples are eBay businesses, Etsy shops, blogs, lawn services, Amazon reselling, etc. If you are in one of those situations you may apply as a sole proprietor and use can your name as the business name. You can use your social security number as the Tax ID number and count yourself as your one employee.
I’m pretty excited to have finished my last application of the year and to have a clear and easy path to 50,000 more bonus Ultimate Reward points! Do you plan on applying for this card in the near future so that you just have a $5,000 spending requirement instead of the full $10,000? Has your experience with the business reconsideration line questions been similar to mine?
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