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Sunday Reader Question: Can I Get the Ink Bold and the Ink Plus?

by on October 14, 2012 · 16 comments

in Chase, Credit Cards, Sunday Reader Questions

TPG reader JP wants to get another business credit card (and sign-up bonus!):

“I have a question about a business credit card I would like to apply for. I have the Chase Ink Bold charge card and earned the 60,000-point bonus back when there was a promo. I am ready to apply for another card to build my Ultimate Rewards points now. I was interested in the Chase Ink Plus card and was wondering if having the Ink Bold  will prevent me from earning the 50,000-point bonus on the new Ink Plus.”

The short answer is: yes, you can get both the Ink Bold and Ink Plus. In fact, I have both cards myself and got the sign-up bonuses on both. Having both cards gives small business owners like me a lot of options for maximizing both my credit and the points I earn with my cards.

Each card comes with a 50,000-point sign up bonus (good for you getting in on the 60,000-point bonus in April, JP), so with the two of them, you’re earning 100,000 points off the bat. Just remember with each card you have to spend $10,000 within the first 3 months in order to get that bonus, so you’re looking at $20,000 minimum spending within 3 months at least. Just keep that in mind and don’t bite off more than you can chew. I value Ultimate Rewards points at about 2 cents each, so that 100,000-point bonus is equivalent to $2,000, or at least a 20% return on your minimum spending.

Although these cards are nearly identical, there is one major difference. The Ink Bold is a charge card while the Ink Plus is a credit card. Charge cards give cardholders a lot more spending power, but require full payment every month or else you get hit with high fees and penalties. Credit cards generally have pre-set limits, but if you need to carry a balance, the cost is less (though still not a bargain) – this is still a good option to have as a small business owner so you have the flexibility to carry a balance if you absolutely must.

Both are the “premium” Ink Bold cards in that they have $95 annual fees (both waived for the first year), and accrue points into Ultimate Rewards, which allows partner transfers to United, British Airways, Korean, Southwest, Hyatt, Marriott, Ritz-Carlton, Priority Club and Amtrak. Both award 5 points per dollar spent on office supplies/cell phone/internet/landline/TV spend on office supplies (up to $50,000 per year), 2 points per dollar on gas stations and hotels (up to $50,000 annually) and 1 point per dollar on everything else.

If you spend a lot at office stores, you can really start raking in those points with the 5x bonus, and there are lots of other ways to max out this category bonus by doing things like buying prepaid gift cards and vanilla reloads. Essentially, if you plan intelligently, you can earn half a million (500,000) points at office stores using both cards to their full potential. That’s a lot of free travel!

One more thing to note: even though the Ink Plus is a business credit card, when you apply for it, you will get a little 2-5 point ding on your personal credit score if you’re applying with your own social security number, but once the account is opened it will sit on your business credit report, so it won’t affect your personal credit utilization.

If you get declined, you can always call the business card reconsideration line and ask them to approve you. In my experience, Chase customer service is great and easy to persuade when presented with all the information, so it can’t hurt to try…especially with this many points on the line.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author.s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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  • MGold

    Very cogent discussion, as always. I have both cards per your strategy, but I understood that it is a minimum of $10,000, not $5,000 per card, in 3 months (I was told 103 days) to qualify for the second 25,000 points.

  • Nate

    Why do you say the simple answer is now when the simple answer is YES, you may have both cards?

  • sam_goh

    @Nate – because the question was “does having one prevent me from getting the bonus on the other”…

  • TYL

    Quick clarification question: Can you apply for these cards together at the same time?

  • Dan

    The InkPlus says $10,000 must be met (not $5,000) within the first three months to get the full bonus. Please advise!

  • thepointsguy

    Yes… It is $10,000 spent within three months to get the 25,000 bonus miles per card.

  • Mike

    chase canceled/closed down my ink bold with my chase SP and freedom card last month. I used all cards but ink bold at office stores. The senior rep wouldn’t tell me why they are all shut down , other than asking my about the purchases at office stores using IB card. It sux being blacklisted. I don’t think there is any chance of chase cards again for me but will try applying for one maybe after 2 yrs.

  • http://twitter.com/SHA457 SHARON

    YOUR PREVIOUS CREDIT CARD OFFER LINK: http://thepointsguy.com/2012/06/100000-american-miles-for-2-citi-credit-cards/
    I know this comment has nothing to do with todays info, HOWEVER POINTS GUY I NEED YOUR HELP! I applied in Sept for the citi plat and citi amex cards special for 50K miles and 0$ annual fee for one year. They are now trying to cheat me out of the fee and apply it to my acct next month. When I go back to your website where the offer was, I click on the links and it now takes me to a dead page, citi must have removed the info. Can you send me a PDF file of the actual offer from the actual citi card links so I can hold their feet to the fire or can you help me please!

  • Josiah Lamz

    I was denied the Ink Bold card, so called the reconsideration line. The Chase rep asked more questions about me and my eBay business than any other bank has… including when I first began selling on eBay, what types of things I sell, revenue strategy, how much I plan to earn in the coming months, etc. A little unnerving, and annoying.

  • Kengma

    @Mike Sorry to hear! What were your spendings like at office stores?

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  • Ann

    Your comment is awaiting moderation.
    I have two different business and both have their own TAX ID number. My question is; can i have both ink plus and ink bold for each business and get all four 50k bonus? I recently got ink plus for business number one, when would be ok to apply for bold? And can I apply for both cards at the same time for business number two? Will the system take it as just one inquiry? Business number two is a start up; business number 1 is up and running. Thank you for your response.!

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