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Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.
If there’s one card with a bonus so great it’s worth waiting for, it’s the Ink Business Preferred Credit Card. With a welcome offer of 80,000 Chase Ultimate Rewards points after meeting minimum spending requirements, you can get travel worth at least $1,000 – and usually MUCH more.
But there’s a hitch. This card is affected by Chase’s 5/24 rule. So is it worth pausing or switching to other applications until you qualify for this card?
Team members Jasmin, Keith, and Meghan updated their application strategies to accommodate this card’s intro bonus. It might be worth it for lots of folks to adopt the same strategy.
However, I’m giving this one a hard pass.
The One Card Bonus Worth Saving Yourself for, but I’m Skipping It
Most Chase cards, and all of their cards that earn Chase Ultimate Rewards points, are affected by the 5/24 rule. That means if you’ve opened 5+ cards from ANY bank – with some exceptions – Chase will NOT approve your application.
Small business credit cards from certain banks don’t count, including:
- Bank of America
That’s right, Chase’s own small business cards don’t count against 5/24, but if you’re over 5/24, you can’t apply. So you could fall below 5/24, apply for a Chase small business card like the Chase Ink Business Preferred, and still qualify to open another Chase personal card. Which is exactly what lots of folks are doing, including our own team members. It’s like getting a 2-for-1!
Why Are Folks Waiting to Earn This Bonus?
Apply Here: Ink Business Preferred℠ Credit Card
- 3X Chase Ultimate Rewards points for every $1 you spend on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year)
- 1X Chase Ultimate Rewards points on all other purchases
- Up to $600 in cell phone insurance when you pay your cell phone bill with the card
- 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal
- Primary auto rental insurance (CDW) when renting for business purposes, plus purchase and extended warranty protection
The card has a $95 annual fee.
In addition to the excellent bonus categories, 80,000 Chase Ultimate Rewards points is enough for:
- $1,000+ worth of Southwest flights (or nearly double if you have the Southwest Companion Pass)
- 4 free nights at a Category 5 Hyatt hotel like the Andaz Napa
- 3 one-way United Airlines Business Class flights from New York to Los Angeles
- 10 one-way coach award flights under 1,151 miles within the US when you transfer your points to British Airways
- 1 free night at a top-tier Ritz-Carlton hotel like The Ritz-Carlton, New York Central Park
- Round-trip coach award flight to Europe with Flying Blue Promo Rewards
- Much more!
Chase Ultimate Rewards points are valuable because they’re so versatile and flexible. And earning 80,000 of them with one bonus? Well, that’s a no-brainer.
You could truly plan the trip of a lifetime with this card’s intro bonus.
Just Because You’re Waiting Doesn’t Mean You Can’t Have Fun
Quite the opposite! There are plenty of small business cards with great welcome bonuses AND they won’t count against your 5/24 status.
Again, small business cards issued by AMEX, Bank of America, Barclays, Chase, and Citi do NOT appear on your personal credit report. So cards from any of those banks are fair game while you wait.
You could open:
- The Business Platinum® Card from American Express to earn up to 75,000 AMEX Membership Rewards points after spending $20,000 in the first three months.
- The Hilton Honors American Express Business Card to earn 125,000 Hilton points after spending $3,000 in the first three months.
- Starwood Preferred Guest® Business Credit Card from American Express to earn 100,000 Marriott points after spending $5,000 in the first three months (offer ends October 31, 2018).
- CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® to earn 70,000 American Airlines miles after spending $$4,000 in the first four months.
And that’s a small sample! Check out more of the best small business card deals here.
Even if you wait to fall below 5/24, you can still collect a huge amount of miles, points, or cash back until you get there. That way, you can keep the Big Travel flowing. 😉
Not sure what your 5/24 status is? Here’s how to check.
But Alas, Chase and I Are Not Meant to Be Betrothed
I will fall under 5/24 in May 2019. That’s 8 months away. There’s no way I’m waiting 8 months to apply for one card offer – even one as good as this.
I opened a new Bank of America Alaska Airlines card last week to earn extremely valuable Alaska Airlines miles. Last month, I got a card with o% APR until February 2020 to catch up on student loan payments. Before that, I got my third Discover it® card (and earned $1,100+ in cash back this year!).
I will NOT pass up a best-ever offer on a personal card if I qualify for it in the next 8 months. When I add up all the miles and points I’ve earned in the past 2 years, it’s just as much – if not more – than I’d get if I waited!
According to my DNA, I crave instant gratification. So maybe it’s genetic?
But the real reason I won’t hold off on other offers is – and we say this all the time here at Million Mile Secrets – all good deals come to an end.
What if I wait 7 or 8 months and miss other great card offers only to find, as I approach the finish line, the 80,000-point offer is gone? Or worse, that Chase tightened their application rules yet again? On the other hand, it might stick around until then. But there’s no way to be sure.
I’ve resigned myself to the fact that I’ll never open another Chase card. And that’s fine. I run a few small businesses and spend tens of thousands of dollars on my cards every month. If Chase doesn’t want my business, other banks will happily take it.
I don’t see the point in waiting around and missing other great deals to get one offer that may or may not be around once I’m ready. Sorry, Chase. It’s not me, it’s you.
There’s no doubt how great the Chase Ink Business Preferred card is. With a highest-ever welcome bonus of 80,000 valuable Chase Ultimate Rewards points after meeting minimum spending requirements, strong 3X bonus categories, and a slew of other perks, I wouldn’t have a second thought about applying for it if I could get it. And if you qualify, neither should you!
Many of our own team members subsisted on small business card offers from other banks while they waited to get this ONE card. I don’t blame them. This bonus is worth $1,000s in award travel!
I’ve chosen to continue getting other card offers from other banks, and as a result, I won’t fall under 5/24 until May 2019. As good as this deal is, I won’t wait 8 months for it. Because it may or may not stick around. And I’m still getting big bonuses in other places.
All this to say, if you only have a few months to fall below 5/24, or you’re already there, get this excellent deal while it’s around! Here’s how to fill out a Chase small business application.
Are you waiting to pick up the Chase Ink Business Preferred card? Why or why not?