Earlier this week Chase modified their sign-up bonus on the Chase Ink Plus and Chase Ink Bold credit cards. Previously you earned 25,000 Ultimate Rewards points after your first purchase, and another 25,000 Ultimate Rewards points after spending $10,000 within three months. Now they’ve improved the sign-up bonus on both cards to a flat 50,000 Ultimate Rewards points after spending $5,000 on the card within three months. So essentially the minimum spend required to earn the full sign-up bonus was cut in half. While the annual fee on the card is a reasonable $95, it’s waived for the first year.
I’d argue this is one of the best all around business credit cards between the points earning opportunities, redemption opportunities, and lack of foreign transaction fees.
Basics of earning points on the card
You earn one point per dollar spent on the card, with the following additional bonuses:
- 5x points on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services
- 2x points on the first $50,000 spent annually at gas stations and for hotel accommodations
Basics of redeeming points on the card
Ultimate Rewards has some fantastic transfer partners, including United MileagePlus, Korean Air SkyPass, Hyatt Gold Passport, and several others. I find those three to be the most valuable transfer partners, which is why I mention them specifically. United miles are probably the single most valuable mileage currency, so being able to earn United miles at a favorable ratio through credit card spend is one of the best features of this card. I love Korean Air SkyPass because they often release four first class award seats between the US and Asia, which very few other programs do. And Hyatt Gold Passport is phenomenal because of the number of aspirational properties they have at which you can redeem your points at very reasonable rates.
Alternatively you can apply points towards any “revenue” ticket at a rate of 1.25 cents per point. That means that a $625 flight will cost you 50,000 Ultimate Rewards points. This isn’t the most efficient way to use points, though it’s still a bit more lucrative than American Express’ “Pay with Points” option in most cases.
The Chase Ink Bold/Plus are fantastic cards, and this is as good of a publicly available sign-up deal as I’ve seen on them.
(In the interest of full disclosure I earn a referral bonus for anyone approved through the above links. As always, thanks very much for your support!)