I was excited to see Chase announced today an increased welcome bonus for their Ink Business Preferred card — a product we praise for its earning structure and relatively low annual fee.
But the new offer packs a bit of a gut punch for many people, especially during such an economically tumultuous time.
New applicants can earn 100,000 bonus Ultimate Rewards points after spending $15,000 on purchases within three months of being approved.
I honestly thought a “1” was accidentally sandwiched between “$” and “5,000.” After all, the previous welcome offer was 80,000 URs after spending $5,000 during the first three months.
Others will disagree with me. But boosting the welcome bonus by 25% while the increasing minimum spend threshold 300% overnight seems abnormally disproportionate. Especially when giving small businesses only three months to meet those requirements. During, you know, a pandemic.
If you have the scratch to meet the minimum spend, go for it. I think the Ink Business Preferred card is a great card. It allows you to redeem points at 1.25 cents each through the Ultimate Rewards travel portal. (So those 100,000 points are potentially worth $1,250 in travel.)
Plus, it also features:
- 5X on Lyft purchases through March 2022.
- 3X on the first combined $150,000 spent yearly on:
- Travel (flights, hotel, rideshare, parking, etc)
- Shipping purchases
- Internet, cable and phone services
- Advertising purchases made with social media sites and search engines
- Trip interruption and cancellation benefits
- No foreign transaction fees
The annual fee is $95.
A Good Team: The Ink Preferred and Ink Cash Cards
The Ink Cash card earns 5X at office supply stores, restaurants, gas stations, and internet-cable-phone providers. You can then transfer those points to an Ink Preferred card‘s URs, making them worth 6.25 cents each.
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