Chase Ink Plus – All You Need To Know

Joy doesn’t have very many credit cards (she has three in her name as the primary cardholder) so I thought it was a good idea back in November to get her another one when Chase was offering 70,000 Ultimate Rewards (URs) for spending $5,000 within the first 3 months of opening a Chase Ink Plus business account. I had been eying the card for awhile due to its generous bonuses:

  • 5X points per $1 on the first $50,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
  • 2X points per $1 on the first $50,000 spent in combined purchases at gas stations and hotel accommodations when purchased directly with the hotel each account anniversary year.
  • 1 point per $1 on all other purchases—with no limit to the amount you can earn.

Here’s the quick math on how many points this card will produce for us in bonuses alone in order to see how it might work for you:

 Categories Chase Ink Plus Regular Rewards Card With No Bonuses
Cell phone: 12 months x $140 (average bill for 2 phones) x 5 (bonus for Chase Ink) = 8400 1680
Internet (we don’t have cable, just Netflix and Hulu): 12 months x $75 x 5 (bonus for Chase Ink) = 4500 900
Gas: 12 months x $150 (average monthly spend with current low gas prices – thanks Saudia Arabia!) x 2 (bonus for Chase Ink) = 3600 1800
Total 16500 4380

Clearly, the Chase Ink Plus will give us more than12,000 extra URs than if we just paid for purchases in those same categories on our Chase Sapphire Preferred. So this card is a no-brainer for us.

How To Apply

As I mentioned earlier, this is a business credit card. We’re hoping to launch a business for Joy’s travel art (which can be viewed here) so we applied for this card under that premise. But if you’re not a business owner, you can still technically apply. You just need to declare your type of business a “sole proprietor” and enter your social security number as your Tax Identification Number as shown below:

Chase Ink ApplicationChase Ink Application

 

We didn’t have any questions when we filled out the application this way. Nor have we had any issues when we stacked all of our charitable donations and shifted all of our spending to this card to ensure that we made the $5,000 minimum spend requirement to get our 70K bonus.

Other Benefits and Fees

  • $0 intro annual fee for the first year, then $95
  • Current signup bonus is 50K URs after spending $5,000 in the first 3 months
  • Ultimate Rewards transfer to a multitude of partners as discussed here
  • No foreign transaction fees
  • Chip and signature technology
  • Purchase Protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account
  • Extended Warranty Protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year, on eligible warranties of three years or less
  • Return Protection: You can be reimbursed for eligible items that the store won’t take back within 90 days of purchase, up to $500 per item, $1,000 per year
  • Statement Credit Rebates via Visa Savings Edge for shopping at certain retailers/hotels after registering your card

Conclusion

I love this card because of the extra bonuses that I’m getting. The 16,500 URs I will get annually from the categories above is enough to transfer to British Airways Avios to get a roundtrip flight on American Airlines from our home airport in San Antonio on the new non-stop to Miami! It’s enough points for my Tokyo friends when transferred to British Airways for a roundtrip between Tokyo and Okinawa, Shanghai, Seoul, Busan. In fact, it’s also almost enough points for 2 roundtrip tickets between Tokyo and Sapporo for Snow Festival (that could save you $900!).

16,500 URs also more than enough for a domestic one-way flight on United or even a one-way international flight on Southwest (like the Aruba – San Antonio flight I bought recently. It’s also enough points when transferred to Hyatt for a night at the beautiful, highly publicized Andaz Papagayo Resort near Liberia, Costa Rica.

I also the ability to shop for gift cards at office supply stores like Staples and Office Max to get 5x points – you can buy gift cards for most retailers at the big office supply stores to include Southwest Airlines. As an avid Amazon Prime member, it’s easy to let spending out of control. So now, we only spend on Amazon after we’ve bought a gift card for ourselves at an office supply store. That way, we control our budget and earn 5x points. Plus, after all the gift cards that we bought for family for Christmas, we can look forward to a sizable bonus every December  🙂

If you would like to see the benefits, read the extra fine print, or apply for this card, click here (I don’t receive a commission or bonus for your referral). Please leave a comment below if you have any questions.