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Million Mile Secrets reader John emails with a question:
Hey. Does the $50k on office supplies with Ink reset January 1 of each year?
Ink Bold And Ink Plus
John is referring to earning 5X Ultimate Rewards points for every $1 he spends – up to $50,000 per year – for cable/internet/telecom and purchases from office supply stores with his Ink Bold or Ink Plus.
John’s Ultimate Rewards points can be redeemed for cash, used for travel, and transferred to airline and hotel partners.
John can also transfer Ultimate Reward points directly to his partner’s Ultimate Rewards account or to his partner’s airline and hotel accounts for free.
You also get 5X Ultimate Rewards points with the Ink Classic and Ink Business Cash Credit Card, but only for the first $25,000 spent. Note that you can’t transfer Ultimate Rewards points from the Ink Classic or Ink Cash directly to airlines or hotels – just like you can’t with the Chase Freedom – but you can transfer them to the Chase Sapphire Preferred, Ink Bold or Ink Plus and from there to airlines or hotels.
Business cards have less impact on John’s personal credit score because the business card credit line and spending are usually NOT reported to the personal credit bureaus, unless he doesn’t pay his bills.
So John could spend up to his entire credit line each month at office supply stores and on cable, internet, and telecommunications without negatively affecting his credit score as long as he pays his bills on time.
What Does Annually Mean?
John gets 5X Ultimate Rewards points on his Ink Bold & Ink Plus purchases made at office supply stores and on cable, internet, and telecommunications up to $50,000 a year. So he can earn up to 250,000 Ultimate Rewards points ($50,000 in purchases X 5 Ultimate Rewards points per $1) for spending $50,000.
Or up to 125,000 Ultimate Rewards points ($50,000 in purchases X 5 Ultimate Rewards points per $1) for spending $25,000 on the Ink Cash or Ink Classic.
It is worth noting that these limits are per card which means that if you spend more than $50,000 a year on office supplies or telecom, it could be worth getting a different Ink card to take advantage of the 5x category bonus.
But annually does not mean a calendar year. Chase defines annually as:
“Annually” means the year beginning with your enrollment date through the first statement after the anniversary of your enrollment date, and each twelve billing cycles thereafter.)
So John should log into his Ink account online and see if he can figure out when he first got the card or he can call the number at the back of the card and ask the customer service agent when his annual year starts.
For example, if John got his Ink Bold card in September 2013 he has 12 billing cycles from September 2013 to exhaust the $50,000 in purchases at office supply stores or for telecom expenses.
John can get 5X points on the first $50,000 he spends annually at office supply stores and on cell phones, landline, internet, and cable tv on his Ink Bold and Ink Plus cards. And 5x points on the first $25,000 with the Ink Cash or Ink Classic.
This $50,000 or $25,000 annual limit is for a 12 month period starting from when John was approved for the card and does NOT reset on January 1st of each year.