Chase Ink Bold Charge Card Offer Changes 11/28/11

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UPDATE: The Chase Ink Bold credit card has in fact been updated with the New Chase Ink Bold credit card. You will not longer be able to apply for the old credit card. View my recent post to learn more about the new card, benefits, and changes to the old card.

I have been notified that the Chase Ink Bold credit card will be changing their promotion next week and the last day to apply under their current 50,000 point offer is November 27, 2011. While I am not sure what the next offer holds, I cannot imagine it being better, but you never know! My assumption is that it will go back down to 25,000 points. The 50,000 point bonus requires $5,000 spend within the first three months and also has the $95 annual fee waived for the first year. This is a small business card, but many have reported to get this card even without a verified business.

The Chase Ink Bold credit card is part of the Ultimate Rewards program which has been extremely popular lately (especially with the bonus points of their online shopping mall). If you are interested in the Ultimate Rewards program, the New Chase Ink Bold (new as of 11/28) or Chase Sapphire Preferred are your your two credit card options – both with a 50,000 point bonus currently.

Earning: When using the card, you will earn 1 point for every $1 in purchases. Additionally, you will earn double points on all airfare, purchases. The great thing is that points never expire as long as you have the card (or another Ultimate Rewards program credit card) and there is no cap on the number of points you can earn annually. This holds true for both Ultimate Rewards cards.

Best Ultimate Reward Redemption opportunities (for either the Chase Ink Bold or Chase Sapphire Preferred credit cards):

Transferring to a partner loyalty program: Transfer your Chase points at a 1:1 ratio to Continental, United, British Airways (American partner), Korean Airways, Hyatt, Priority Club (Intercontinental), Marriott, and Amtrak. This will typically give you the biggest bang for your buck, as 50,000 points gets you pretty close to a free economy class ticket to Europe (60K on most airlines). Additionally, 50,000 points can be transferred to Hyatt, which can be redeem for 2 nights at the Park Hyatt Maldives, Park Hyatt Tokyo, and Park Hyatt Paris which typically run over $1,000/night. Essentially 50,000 points can be valued anywhere between at about $$800-$2000 depending on how you use them.
Pay for travel: You can use your points to redeem free travel with their travel booking services. This allows you to pay for anything travel related (car rental, cruises, etc.). There are no black out dates and you can earn frequent flyer points for the selected travel reward program. For preferred card holders (which this card is), you will get a 25% bump when redeeming in this type of travel. Therefore, 1 point = 1.25 cent towards the purchase of your travel. This means that 50,000 points is equal to a cut and dry $625. This works similar to American Express’s Membership Rewards travel services.

Annual Bonus Opportunities (for just the old Chase Ink Bold credit card; this does not apply for the new Chase Ink Bold card or the Chase Sapphire Preferred card): In addition to the one point you will receive per dollar spent, you also have the opportunity to receive an annual one time bonus of up to 47,500 points. You “annual” year begins with your enrollment date through the first statement after the anniversary of the card, and each twelve months thereafter. Note that the bonus point thresholds are cumulative.

$25,000+ in net purchases = 7,500 bonus points
$50,000+ in net purchases = 15,000 bonus points
$100,000+ in net purchases = 25,000 bonus points

**The bonus points for the Chase Sapphire Preferred card is slightly different and gives you a flat 7% bonus on all points earned during the year. You can read more about the pros/cons of the two cards and which one is best for you here.

Currently, it is just the Chase Ink Bold Card that is changing their offer – the Chase Sapphire Preferred card will still remain with the 50,000 bonus. Since these are two different cards, you are able to apply for both and get the 50K points each – giving you a total of 100,000 points if you desire. Just remember that Chase has started to get strict on the number of applications you apply for within a few month time period. If you have recently opened a Chase credit card, you will probably have to call the reconsideration line and switch some credit lines around on your account – this has been successful for many readers! Remember, that this is a business card so it will hit your business line of credit, not your personal line of credit.

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