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Chase Ink Application Rules May Soon Be Changing!

Chase Ink Application Rules May Soon Be Changing!

Million Mile SecretsChase Ink Application Rules May Soon Be Changing!Million Mile Secrets Team

If you’ve been considering applying for the Chase Ink Plus or Chase Ink Business Cash Credit Card, there are rumors that Chase is changing their application rules for these cards.

According to Doctor of Credit, Chase may soon apply the same rules it uses to approve folks for personal Chase Ultimate Rewards point-earning cards to its small business cards.

Chase Ink Application Rules May Soon Be Changing
Thinking of Applying for a Chase Ink Card? The Rules for Approval Might Be Changing Soon!

I’ll explain what I know and what you should do if you’ve been thinking about applying!

What’s Going On?

Link:   Chase Ink Plus

Link:   Chase Ink Cash

Last year, Chase made changes to the way it approves folks for personal cards that earn Chase Ultimate Rewards points, like the Chase Sapphire Preferred and Chase Freedom.

If you’ve opened ~5 or more credit cards (from any bank) in the past 24 months, it’s unlikely Chase will approve you for a personal Chase Ultimate Rewards earning card.  Although some folks have reported exceptions.

Note:  So far, this has NOT impacted Chase cards that earn other types of points such as United Airlines miles, Hyatt points, etc.

Chase Ink Application Rules May Soon Be Changing
If You’ve Opened ~5 or More Cards in the Past 24 Months, You Could Have a Hard Time Getting Approved for Chase Ink Cards Soon

Now, it’s rumored that Chase will extend these rules to the Chase Ink Plus and Chase Ink Cash small business cards starting in March 2016.

I do NOT have confirmation of this.  But Doctor of Credit reports the news came from a trustworthy source.

What Should You Do?

If you’re new to this hobby, or haven’t opened a lot of cards in the past 24 months, these rumored changes shouldn’t make a difference.

But if you’ve opened lots of cards and own a small business, you may want to consider the Chase Ink Plus or Chase Ink Cash sooner rather than later.

Chase Ultimate Rewards is my favorite program for getting Big Travel with Small Money.  Because you can transfer Chase Ultimate Rewards points to terrific airline and hotel partners like British Airways, Southwest, United Airlines, and Hyatt.

Or use the points at 1.25 cents per point to book paid travel through the Chase Travel Portal.

Chase Ink Application Rules May Soon Be Changing
Chase Ultimate Rewards Points Can Open the Door to Incredible Travel Experiences

I like that transferring Chase Ultimate Rewards points to United Airlines allows you to book flights on United Airlines or any Star Alliance partner airline, like Air New Zealand and Lufthansa, with no or low fees.

Transferring Chase Ultimate Rewards points to British Airways is great for short-haul partner flights, or cheap flights to Europe!  And transferring to Southwest is terrific for domestic flights (made twice as good with the Southwest Companion Pass)!

Emily and I have transferred Chase Ultimate Rewards points to Hyatt for amazing stays at hotels like the Grand Hyatt Kauai, Park Hyatt Paris – Vendome, and Park Hyatt Milan.

Chase Ink Application Rules May Soon Be Changing
Stay at the Grand Hyatt Kauai Like We Did by Transferring Chase Ultimate Rewards Points to Hyatt Hotels

But to transfer Chase Ultimate Rewards points to travel partners, you must have a Chase Sapphire Preferred, Chase Ink Plus, or Chase Ink Bold (no longer available) card.

If you don’t have any of the cards mentioned, it might be a good idea to apply for the Chase Sapphire Preferred first (if you haven’t applied for lots of cards).

Then apply for the Chase Ink Plus or Chase Ink Cash soon after.

For Folks With a Small Business & Who Already Have the Chase Sapphire Preferred

If you already have a Chase Sapphire Preferred card, you have the ability to transfer your points to travel partners.  So you won’t miss out on Big Travel if you don’t get a Chase Ink card.

But you may still want to consider the Chase Ink Plus for its 60,000 point sign-up bonus after meeting minimum spending requirements, and 5X point bonus categories like office supply stores.

Emily and I don’t earn a commission on the Chase Ink Plus card, but we’ll always tell you about the best deals!

Rumor 100,000 Chase Ultimate Reward Point Sign Up Bonus With New Card Coming Soon
Transfer Chase Ultimate Rewards Points to Terrific Airline and Hotel Partners – but Only If You Have a Chase Sapphire Preferred, Chase Ink Plus, or Chase Ink Bold Card

That said, some folks might consider getting a Chase Ink Cash before the new rules take effect.  You’ll earn a $200 (20,000 Chase Ultimate Rewards point sign-up bonus) after completing the minimum spending requirement, and there’s no annual fee.

Note:   You can get both a Chase Ink Plus and Chase Ink Cash card because they’re considered different card products.

Bottom Line

There are rumors Chase will make it more difficult for certain folks to be approved for the Chase Ink Plus and Chase Ink Cash in March 2016.

Currently, if you’ve opened ~5+ credit cards in the past 24 months, it’s unlikely you’ll be approved for a Chase Ultimate Rewards point-earning personal card like the Chase Sapphire Preferred or Chase Freedom.  (So far, Chase cards that earn other types of points aren’t subject to this policy.)

These rules may soon apply to the small business Chase Ink cards!  So if you’ve been considering them, it might be a good idea to apply in the near future.

These cards are important if you want to earn Big Travel with Small Money in my favorite points earning program!  To transfer Chase Ultimate Rewards points to airline and hotel partners like United Airlines or Hyatt, you must have a Chase Sapphire Preferred, Chase Ink Plus, or Chase Ink Bold (no longer available) card.

I’ll update y’all if I receive firm confirmation of these changes!

If you liked this post, why don’t you join the 25,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in an RSS reader …because then you’ll never miss another update!

Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Hi Darius. You might have answered it before. Does the 5/24 rule applies only to the cards we are approved for or does it take into account the credit card applications which we are denied? Thanks in advance.

@PJ

"DONT CANCEL ACCOUNTS. I have 9 cards ; other than Freedom( 2 I have) and Sapphire I just swap one old one into a new one playing with their 24months/5cards rule"

I'd like to know about that swapping too. Can you elaborate?

What do you mean " I just swap one old one into a new one "? What is the process you do to "swap" them?

experienced already -dec. 15 760+ fico turned down for ink, united bus. called back told to many cards opened in 24 months, asked how much is max told 5-24 mon.

any suggestions how to pull this over?

@Darlene, moving credit around does not work to get around the 5/24 rule. It only works to get around a denial when you are approaching or have reached the max credit that chase is willing to extend you - an entirely separate issue.

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