Poll: Should You Apply for The Chase Ink Bold & Ink Plus For an Extra 10,000 Points? [EXPIRED]

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Update:  This offer is no longer available.

Blog traffic and clicks on the Chase Ink Bold and the Chase Ink Plus credit card links have increased a lot since Sunday!

That’s because the sign-up bonus on the Chase Ink Plus and the Chase Ink Bold increased to 60,000 points after spending $5,000 within 3 months.  This offer ends this Saturday on June 22, 2013.

I ended the post by writing:

I wouldn’t go out of my way to apply for the Chase Ink cards if you weren’t going to apply for them. 

If you were going to apply for the cards, the extra 10,000 points on the Chase Ink Bold and Chase Ink Plus and the extra 5,000 points on the Chase Ink Cash and Chase Ink Classic could make it worth applying before this Saturday on June 22, 2013.

Some commenters asked why I wrote that you shouldn’t go out of your way to apply for the cards.

JMM commented:

Why wouldn’t you g[o] out [of the] way to get this card -60k points is a great sign up bonus.

Sure, 60,000 points is a great sign-up bonus on an already great card.  But it is only 10,000 more Ultimate Rewards than the regular offer of 50,000 points.

Here’s what you get with an extra 10,000 Ultimate Rewards points from the Ink Bold or Ink Plus:

  • $100 extra in cash back
  • $125 extra if redeemed through the Ultimate Rewards portal for travel
  • $167 if transferred to Southwest
  • $150 to $200 if you transfer the points to airline or hotel partners (assuming you value 1 Ultimate Rewards point at 1.5 cents to 2 cents per point)

You earn an extra $100 to $200 for by applying for the Chase Ink Bold and Ink Plus before Saturday June 22, 2013.

I can’t tell you what to do because you have to do what makes sense for you.

But just like you shouldn’t buy miles and points just because they are on sale (you’re still usually paying more than what they are worth), you should carefully evaluate whether you should apply for a credit card with a higher sign-up bonus just because the bonus increased.

How To Evaluate Limited Time Credit Card Offers:

Here are a few ways to think about limited time credit card offers.  As always, you should also be aware of the 5 Dangers of Applying for Credit Cards:

1.  Is The Increase Large Enough?   Is the increased sign-up bonus large enough to make a difference?  For example, Southwest frequently has 50,000 point offers which are MUCH better than their usual 25,000 point offer.

More importantly, will the increased sign-up bonus make a meaningful difference to YOUR travel goals?

2.   Does the Card Have a History of Higher Bonuses?  Some cards like the Southwest card frequently have 50,000 point promotions.  Other cards like the Chase Ink Bold and Ink Plus usually never have 60,000 point promotions. 3.  How Often Is the Higher Sign-up Bonus available?     If the card does haver a higher sign-up bonus, how frequent is the higher sign-up bonus?

Is the increased sign-up bonus available every few months like with the Southwest 50,000 mile offer.  If so, you’re better off waiting for the higher sign-up bonus.

Or is it like the mega bonuses on American Express cards which usually last  a much shorter time?  If so, you’re probably better off applying sooner rather than later.

4.   Were You Going to Apply for the Card?   If you were going to apply for a card because of the card benefits in any case, it could be worth it to apply when the card has a higher sign-up bonus.

For example, let’s say that you were going to apply for the Chase United Explorer with a 30,000 mile sign-up bonus because of the free checked bags and priority boarding.

Of course you should apply for the United Explorer card if you get a 50,000 mile targeted offer because you were going to do so in any case, so why give up the extra miles?!

What do You Think?

But enough of what I think.  I’m curious to know what *you* think.

So let’s have a poll!

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