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Chase Isn’t Allowing Product Upgrades to the Ink Preferred

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Earlier this month, Chase launched its latest business credit card: the Ink Business Preferred Card. With the addition of the card to Chase’s lineup, the issuer is no longer accepting new applications for its predecessor, the Ink Plus Business Card. Now, Million Mile Secrets shared that you must apply for the Preferred Card as a new applicant, rather than upgrading from a different Ink card (such as the Plus). However, in the future, it could become possible to change products from another Ink card to the Preferred Card. It’s worth noting that based on reports, the Preferred Card does appear to be affected by Chase’s 5/24 rule.

The new Preferred Card comes with a sign-up bonus of 80,000 points after you spend $5,000 in the first three months (the discontinued Plus Card, meanwhile, most recently offered a sign-up bonus of 60,000 points after the same minimum spend). You’ll earn 3x points on the first $150,000 spent in combined purchases on travel, shipping, internet, cable and phone services and advertising purchases made with social media sites and search engines. In addition, you’ll earn 1x points on all other purchases with no limit. The card comes with an annual fee of $95, however, that fee is waved for the first year if you apply in a Chase branch.

H/T: Doctor of Credit

Ink Business Preferred℠ Credit Card

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  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent in select categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee
Intro APR Regular APR Annual Fee Foreign Transaction Fee Credit Rating
N/A 16.24% - 21.24% Variable $95 0% Excellent Credit