This is an update to my earlier post and includes the results of my attempt at a second and third Chase Ink card from back in December. I already had an active Chase Ink Bold but decided to apply for the Chase Ink Plus and a second Chase Ink Bold (for my other business for which I needed a completely separate account). I had never had an Ink Plus before so I was not worried about the bonus miles posting, but the additional Ink Bold was more concerning. I applied for my new Ink Bold card using my Employer Identification Number (EIN) instead of my SSN, which I previously used, and I was later approved after agreeing to reallocate credit from one of my other Chase cards (even though the Bold is a charge card and has no actual credit limit, Chase wanted me to reduce the credit on one of my other cards). I also had to explain my two separate businesses and why it was so important to keep expenses completely separate. Remember, the bonus is once per individual or business per card type. Also as you are most probably aware, the Chase Ink Bold and Chase Ink Plus are considered different products.
Well, the 50k bonus miles posted for both of my new Ink Cards, one was even slightly short of the spending requirements! Even after transferring points to United last month for a first class trip to Asia, I’m still at well over 200K Ultimate Rewards points!
Some Data Points
- Credit score – Just shy of 800. Make sure to check your scores before applying. Get your free TransUnion score from CreditKarma and your free Experian score from Credit Sesame. Don’t forget that you are also entitield to a free credit report each year from the 3 major credit reporting bureaus. You can order your reports at http://www.annualcreditreport.com, which include any recent inquires but do not include credit scores.
- Total number of Chase cards prior – 6
- An Employer Identification Number (EIN) is easy to obtain online from the IRS. Check out this link. Note that you still need to enter your SSN at the bottom of the application so that Chase can check your credit history.
- If you aren’t automatically approved, call the Chase reconsideration line at 1-800-453-9719 for the INK cards and 1-888-245-0625 for personal cards.
- REMEMBER to move your UR points to an account you will be keeping before offering to cancel any of your cards!
Another interesting data point from this churn is that I only received two hard pulls from Chase, even though I applied for the Ink Bold, Ink Plus, and a second Sapphire Preferred.
Chase is currently offering a 50K sign up bonus for both the Ink Plus and the Ink Bold after $5,000 spend within 3 months. The Ink Plus is the credit card edition of the Ink Bold (which is a charge card). Remember, a credit card allows you to pay part of your bill each month while a charge card requires you to pay your balance in full. Why do I love these cards? Ultimate Rewards is one of my favorite currencies. I love the flexibility to transfer them at a 1:1 ratio to United, Hyatt, Marriott, and other partners. The cards are also great for charging my monthly cable/internet and cell phone bills for 5x points as well as 2x points at gas stations and hotels. Both cards also include no foreign exchange fees.
Ultimate Rewards Partners with a 1:1 transfer ratio:
- Earn 50,000 bonus points after you spend $5,000 in the first 3 months from account opening
- No interest charges because it’s a pay in full charge card
- Earn up to 5X points per dollar on eligible business purchases, and points do not expire
- Transfer points at full value to participating travel programs.
- Direct access to a live service advisor anytime.
- Introductory Offer – First Year Free ($95 thereafter)
- Reward yourself with 50,000 bonus points after you spend $5,000 in the first 3 months from account opening
- With Ink Plus, you have the cash flow flexibility with the choice to pay over time or pay in full
- Earn 5X points per $1 on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services
- Earn 2X points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel
- No foreign transaction fees
- Free employee cards
- 1:1 point transfer to participating travel programs with no transfer fees
- Get 20% off travel redemptions when booked through Ultimate Rewards.