People are constantly asking me “What is the best credit card bonuses right now?” And while my answer depends on your needs, travel desire, regular spend, etc. the there is one credit card that comes to mind as solely having the best offer against all the other cards right now – The Chase Ink Preferred card. This is a new-ish card that came out last November 2016. Even if you have another Chase Ultimate Reward card (or Chase Ink card) you are still eligible for the sign up bonus since it is considered an entirely new product. While this is a business credit card, there is no saying that you don’t have or looking to start a little side business, i.e., eBay, real estate, blog, etc. You can view all credit card offers here.
- Chase Ink Preferred: Earn 80,000 Chase Ultimate Reward points after you spend $5,000 on the card within the first 3 months.
This card does, however, come with a high minimum spend threshold. So while it comes with the highest offer, if you are not able to generate that spend within 3 months, it probably is not the best card for you. This card also comes with a $95 annual fee. But 80,000 Chase Ultimate Reward points is huge if you can make it work!
80,000 Point Bonus!
At mentioned above, you’ll earn 80,000 bonus points after you complete the minimum spend requirement. The points earned with the card are worth 1.25 cents each when booked through the Chase Ultimate Rewards travel portal. That means the 80,000 point sign up bonus is worth a MINIMUM of $1,000 towards travel. Or, if you have the Chase Sapphire Reserve, you can transfer your points to that account and your points are then worth a minimum of 1.5 cents each! These points can also be transferred to loyalty partners where you could potentially receive a higher value based on how you redeem your points. Some popular transfer partners include Hyatt, Marriott, United, British Airways, Korean Air, etc. If you value your Hyatt points at 2 cents per point, for example, then the 80,000 points earned are worth $1,600!
3x Points Per Dollar Spent
With this card, you’ll earn 3x points (up to $150,000 spent) on the following:
- Shipping purchases
- Internet, cable, and phone services
- Advertising purchases made with social media sites and search engines
For me personally, earning 3x points on travel is huge. While there are some other cards that give you more in the travel category, they do not come with the same trip insurance options that this card (and many other Chase cards) carry, such as trip delay reimbursement, baggage delay reimbursement, trip cancellation reimbursement, etc. While there are Amex cards that give 5x points for travel, they do NOT carry the same travel benefits/insurance.
The other ongoing benefit with this card is the cell phone insurance it comes with. If you pay your cell phone bill with this card and something happens to your phone, you’ll receive up to $600 in protection per claim against damage or theft. This is for you and any other lines listed on your bill! You are also eligible to put in three claims per a 12-month period. There is, however, a $100 deductible. Technically, it is for any employees on your business, but quite honestly I am not sure how they are able to verify if they are an employee or a family member (who maybe works for you here and there!).
Things to Know
Unfortunately, this card WILL fall within Chase’s “5/24” rule. The “5/24” rule means if you’ve been approved for 5 or more cards (personal cards from ANY bank) in the past 24 months you’ll automatically be denied for most Chase cards. The 5 cards are from any bank and include being an authorized user. If you have less than 5 primary cards and authorized user cards take you over the 5 threshold, you can usually call the reconsideration line and ask for them to reconsider your application.
With that being said, since this is a business card it will NOT count against the number of cards that fall within the “5/24” rule when looking to apply for another card. Business cards are not counted towards the “5/24” mark. That is one great perk of applying for business credit card! You can learn about all credit card offers here.