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Lots of folks have been asking questions about the new Chase Ink Business Preferred card, which comes with an 80,000 Chase Ultimate Rewards point sign-up bonus after meeting minimum spending requirements.
Chase shared the answers to these questions (and more!) on a conference call with us today.
Here’s what we learned!
Ink Business Preferred – Your Questions Answered
This is a great option if you’re looking for a small business card, because the sign-up bonus is worth at least $1,000 when you redeem points through the Chase Travel Portal. Or even more when you transfer to Chase airline and hotel transfer partners.
Here are answers to some common questions!
1. Does the Ink Business Preferred Card Fall Under Chase’s 5/24 Rule?
2. Can You Get More Than One Ink Business Preferred Card If You Have Multiple Businesses?
Yes! If you have multiple businesses, you may be able to get more than one Chase Ink Business Preferred card.
But ultimately, it’s up to Chase to decide whether they’ll approve you for a card and how much credit they’re willing to extend to you.
3. Can You Upgrade Another Chase Ink Card to Ink Business Preferred?
Chase let us know that currently, you can NOT upgrade an existing Chase Ink card (like the Ink Cash or Ink Plus) to the Ink Business Preferred card. But they may make it an option in the future.
So for now, the only way to get an Ink Business Preferred card is to submit an application in-branch or online.
4. Is Anything Happening to My Other Ink Cards?
Chase confirmed that the Ink Cash card is here to stay.
Folks who already have an Ink Plus card, which is no longer available to new applicants, can keep that card as well. And you’ll continue to get great perks like 5X bonus Chase Ultimate Rewards points at on cable, cell phone bills, and at office supply stores! 😉
5. What If You’re Over 5/24?
If it’s hard for you to get approved for most Chase cards because of their stricter approval rules, check out this post about 6 Chase travel cards NOT restricted by the 5/24 rule.
Because if you’re pre-approved for offers from Chase, you may still be eligible even if you’ve opened lots of cards in the past 2 years.
Or skip Chase and choose AMEX’s rival small business card because its current sign-up bonus is worth $2,000 for flights with no blackout dates.
The Enhanced Business Platinum® Card from American Express OPEN has a limited-time offer of 100,000 American Express Membership Rewards points.
But the good news is, it’s possible to get more than one Ink Business Preferred card if you have multiple businesses.