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

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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.

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 Credit 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:

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 CardChase Sapphire Reserve, or Ink Business Preferred Credit Card, 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.

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!

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! :)