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Chase has just launched a limited-time sign-up offer for the Ink Plus card, where you’ll earn 70,000 points when you spend $5,000 in 3 months. That’s 40% higher than the normal sign-up bonus of 50,000 points, so if you’ve been holding off on getting this card, now is the time to do it. Previously this offer was only available in Chase branches, but now you apply online. While the annual fee of $95 is not waived (as it is with the 50,000 point offer), I value the extra 20,000 points at $420, so the trade-off is clearly in your favor.
Chase Ink Plus
- Limited Time Bonus Offer: Earn 70,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That’s $875 toward travel when you redeem through Chase Ultimate Rewards.
- Named “Best for Travel Rewards for Small Business” MONEY® Magazine, October 2013
- Earn 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.
- Earn 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.
- No foreign transaction fees.
- 1:1 point transfer to leading frequent travel programs with no transfer fees.
- $95 Annual Fee
I value Chase Ultimate Rewards points at 2.1 cents each because of the strong transfer partners (United, British Airways, Southwest, Korean Air, Virgin Atlantic, Singapore Airlines, Hyatt, Marriott, Ritz-Carlton, IHG/Priority Club and Amtrak), so the 70,000 point bonus is worth at least $1,470 to me. For example, I used 60,000 Chase points transferred to United to book a one-way business class award to the Maldives in 2013.
Even if you don’t know how to maximize the transfer partners, at a minimum you can redeem points through the Ultimate Rewards Travel Center at 1.25 cents each, so you’re getting at least $780 in value with the sign-up bonus alone ($875 minus the $95 annual fee).
I consistently rank the Ink cards among the top travel cards for the benefits they give cardholders. The Ink Plus card earns 5 points per dollar at office supply stores and on cellular phone, landline, internet and cable TV services, and 2 points per dollar at gas stations and on hotel accommodations (when booked directly through the hotel). Ink Plus also offers primary insurance for auto rentals (when you’re renting primarily for business purposes, or secondary insurance otherwise), similar to the recently added benefit on the Chase Sapphire Preferred.
As a reminder, you can have more than one Ink Bold or Ink Plus card. I already had an Ink Bold and an Ink Plus when the recent 60,000 point offers came around, but I applied and was approved for a second Ink Plus for another small business I’ve started. If you’re interested in doing the same, check out this post.
Chase is also offering some current Chase Ink cardholders a targeted referral bonus of 10,000 Ultimate Rewards for this offer, so be sure to check your email to see if you’re eligible.
For more information on getting the most out of Chase business credit cards and Ultimate Rewards points, see these posts:
Detailed Look at the Benefits of the Ink Bold and Ink Plus Cards
Top 10 Benefits of the Ink Bold and Ink Plus Cards
Maximizing the Ink Office Category Bonus Spending
Maximizing Ultimate Rewards With the Chase Ink Cards Chase Ink: Which Card Is Best For You
Can You Get Both The Ink Bold and Ink Plus?
Ranking the Chase Ultimate Rewards Transfer Partners
Top 10 Ways To Maximize Each Ultimate Rewards Transfer Partner
Ink Plus® Business Credit Card