Reader Question: “Should I (and Can I?) Get the Chase Ink Cash to Replace My Ink Bold Card?”

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Reader Question:  “Should I (and Can I?) Get the Chase Ink Cash to Replace My Ink Bold Card?”

Million Mile SecretsReader Question:  “Should I (and Can I?) Get the Chase Ink Cash to Replace My Ink Bold Card?”Million Mile Secrets Team

We devote thousands of hours of research to help you get Big Travel with Small Money. You support us by signing-up for credit cards through partner links which earn us a commission. Here’s our full Advertising Policy.

If you’ve ever been confused about bank and credit card rules, you’re not alone!  With so many great rewards cards, it can be hard to figure out if (and when!) you’re eligible to receive a sign-up bonus.

Should You Get The Chase Ink Cash
Know the Rules Before Applying for Any Card!

Million Mile Secrets reader Ben asks:

I have the Chase Ink Bold (no longer available) and was wondering if you’d recommend getting the Chase Ink Business Cash card.  I do a lot of spending at office supply stores, which is why the Ink Bold caught my eye initially.  But if I can avoid an annual fee, that’d be even better.

Also, do you know if I’d be eligible for the sign-up bonus?  It has been more than 2 years since I got my Ink Bold card.

Thanks for the question Ben!

Given the amount of spending you do at office supply stores, it sounds like the Chase Ink Cash card would be a perfect complement to your wallet!

I’ll explain why.  And help you determine if you’re eligible for the sign-up bonus.

Chase Ink Business Cash Credit Card

Link:   Chase Ink Business Cash Credit Card

Link:   Our Review of the (Increased!) Offer on the Chase Ink Cash

The Chase Ink Cash is currently offering a bonus of $500 (50,000 Chase Ultimate Rewards points) after spending $3,000 on purchases in the first 3 months of account opening.

This is the highest bonus offer we’ve ever seen on this card, as the previous offer was for only $300.  And it comes with the following perks:

  • 5% cash back (5X Chase Ultimate Rewards points) on the first $25,000 spent in combined purchases at office supply stores and on phone, internet and cable TV services each account anniversary year
  • 2% cash back (2X Chase Ultimate Rewards points) on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • 1% cash back (1X Chase Ultimate Rewards point) on all other purchases
  • Primary car rental insurance (CDW) when renting for business purposes, covering damage to your rental car due to theft or collision when you pay with your Chase Ink Cash card.  Secondary coverage when renting for personal reasons
  • NO annual fee

Given Ben is looking for a card that earns a bonus on spending at office supply stores, but does NOT have an annual fee, the Chase Ink Cash is the right choice.

That said, it’s important to note that with the Ink Cash, he’ll only earn 5X Chase Ultimate Rewards points on the first $25,000 spent each account anniversary year at office supply stores, phone, internet, and cable TV.  Whereas with the Ink Bold, he earns 5X points on the first $50,000 spent on those types of purchases.

Plus, you can NOT transfer the Chase Ultimate Rewards points you earn with the Ink Cash to travel partners unless you have other, certain Chase Ultimate Rewards points earning cards.

Combine the Ink Cash With Other Chase Cards to Maximize the Value of Your Points!

If you have cards like the Chase Sapphire PreferredChase Sapphire Reserve, or Ink Business Preferred, or Ink Bold or Ink Plus (no longer available), the points you earn with the Ink Cash can be worth a LOT more than $500.

Should You Get The Chase Ink Cash
If You Have Certain Credit Cards, You Can Transfer Chase Ultimate Rewards Points to Travel Partners

That’s because you can get Big Travel by transferring points to valuable hotel and airline partners, like Hyatt, Southwest, and United Airlines!

For example, Southwest points are generally worth between 1.25 cents and 2 cents per point.  So if you transfer your 50,000 Chase Ultimate Rewards points to Southwest, you can get $625+ in value!

Are You Eligible?

Just remember, outside of their usual approval criteria, like your credit score and a few other factors, Chase employs the “5/24 rule.”

So if Ben has opened 5+ cards from any bank (NOT counting Chase business cards and these other business cards) in the past 24 months, it’s unlikely he’ll be approved for the Ink Business Cash.

But because the Chase Ink Bold and Chase Ink Cash are considered different card products, his receiving the sign-up bonus from the Ink Bold should NOT affect his eligibility for the Ink Cash.

Bottom line

Right now, you can earn $500 cash back (50,000 Chase Ultimate Rewards points) after meeting minimum spending requirements on the Ink Business Cash card.

That’s an incredible sign-up bonus for a card with no annual fee.  And it would be a great option for reader Ben, because he doesn’t want to pay the annual fee on his Ink Bold card any longer.  But still wants to earn bonus points (or cash back!) at office supply stores.

Thanks again for the question, Ben!

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Ink Business Cash℠ Credit Card

Ink Business Cash℠ Credit Card

  • Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
  • Named "Best Rewards Card for Small Business Owners" by Kiplinger's Personal Finance, July 2017
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases and balance transfers
  • Employee cards at no additional cost
  • No Annual Fee

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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So, to recap, it seems that if you spend less than $25k/year and also have a Sapphire Reserve card it makes no sense to hold on the Ink Bold (or Plus) and pay the annual $95 fee. Better downgrade it to the free Ink Business Cash. Am I correct? Since I don’t meet the 5/24 rule when I downgrade my Ink Plus to the Ink Cash I get to keep my points I suppose. Correct?
And the additional advantage would be that I could then transfer my points from the Ink Cash to my Sapphire Reserve, while now I cannot transfer them from my Ink Plus.
So, if I am correct on all 3 counts, why would anybody bother to hold or apply for an Ink Bold card if they spend less than $25/year in business purchases?
What am I missing here?

However, you would not receive the bonus of 50K points if you downgrade. I’m in the same boat and think I will cancel my Plus and apply for the Cash so I can get the bonus.

Hi Liz, You’re correct in saying that if you spend less than $25k per year in the 5X bonus categories (office supply stores, internet, etc.) it doesn’t make sense to keep the Ink Bold or Ink Plus if you can get the Ink Cash instead, as long as you have the Sapphire Reserve (or Sapphire Preferred).

But to clarify, it IS possible to transfer your Chase Ultimate Rewards points form your Ink Plus to your Sapphire Reserve.