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