Rumor: No More 5X Bonus Category for New Chase Ink Cardholders
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Via Doctor of Credit, NEW cardholders MAY no longer earn 5X Chase Ultimate Rewards Points or 5% cash back on purchases at office supply stores and on cellular phone, landline, internet, and cable TV services.
This change is NOT expected to affect existing cardholders. So you might consider applying for these cards before any changes take place.
I’ll explain more about this rumor!
Rumored Chase Ink Changes
With the Ink Cash card, you earn:
- 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year
- 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
And with the Ink Plus, you earn:
- 5 Chase Ultimate Rewards points for every $1 you spend at office supply stores and cellular phone, landline, internet, and cable TV (to a maximum of $50,000 in combined purchases per account anniversary year)
- 2 Chase Ultimate Rewards points for every $1 you spend at gas stations and on rooms booked directly with hotels
But Doctor of Credit reports bonus category spending for new cardholders might be consolidated into one 3X bonus category. And it’s possible Chase will add a new category to earn bonus points or cash back, like advertising.
Competition from other banks is likely the reason for any changes. For example, the SimplyCash® Plus Business Credit Card from American Express allows cardholders to select a 3% cash back category. Although the AMEX SimplyCash Plus card still has a 5% cash back category (US office supply stores and wireless phone bills).
With these rumored updates by Chase, cardholders might have the opportunity to earn more points or cash back with a broader set of 3X categories.
Apply Now or Wait for Changes?
If you’ve been thinking about applying for one of these cards and spend a lot in office supply stores or on phone, cable, and internet, you might want to take advantage of the current offers, including a $300 cash back offer for the Ink Cash card.
But if you think you’ll spend more in the current 2X bonus categories, you might want to wait for the changes. Because you’ll earn 3X on all bonus category spending instead!
Keep in mind, Chase has tightened their application rules. If you’ve opened ~5 or more credit cards (from any bank) in the past 24 months, (excluding certain business cards) it will be difficult to be approved for most Chase cards.
Instead, folks will earn 3X Chase Ultimate Rewards points or 3% cash back on ALL eligible bonus category purchases.
These changes are NOT expected to impact existing cardholders.
Stay tuned! I’ll be sure to share any updates!
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Chase Sapphire Preferred® Card
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases.
2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.
Either $5 or 5% of the amount of each transfer, whichever is greater.
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