Exciting credit card rumors

A few bloggers have dropped hints recently about new credit card offers coming our way.  They had met with some of the top banks to discuss credit card offers, but had apparently promised not to divulge the secrets.  Luckily, I’ve made no such promise to anyone, so I feel free to speculate…

Million Mile Secrets

In June, Daraius, from Million Mile Secrets, wrote about “Visiting the Banks in New York”.  In that post, he gave some hints as to what we should expect regarding credit card offers.  First, he told us about general trends we will see:

We’re also going to see offers which require higher spending to get the full sign-on bonus (think Chase British Airways & Chase Ink Bold), offers which require you to hold the card for a second year (think 60,000 point Citi Thank You Premier), limited time offers to persuade folks to sign-up immediately (AMEX Business Gold and Platinum), and cards which offer a benefit which makes the card worth keeping after the 1st year (think free bags or free hotel nights with certain cards).

Then, he dropped a couple of bomb-shells:

There may be a new business credit card (as opposed to their current charge card) coming out soon in Q3 (July to September) with a decent sign-on bonus from a bank which offers the boldest business cards in the market.

And:

If a credit card had a history of increasing the sign-up bonuses during a certain period, that pattern may be repeated again – as early as this summer.

Frugal Travel Guy

Yesterday, Rick (Frugal Travel Guy) reported the following:

Insider News

I have it from a reliable “inside source”, we can look for a new product in the portion of the frequent flyer game where I earn the majority of my miles.  It is to be announced in about two weeks.  I promised that is all I would say, but I think we will all be pleased.

Frequent Miler’s Take

I have no inside information about this at all.  In fact, I’ve avoided asking Daraius or Rick any follow-up questions because they probably would have asked me to keep the answers quiet (if they told me anything).  So, now I’m free to tell you what I think is on it’s way.  Time will prove me right or wrong:

New Ink Bold!

The Ink Bold is technically a charge card instead of a credit card.  It seems clear to me from Daraius’ post that Chase will be introducing a credit card version of the Ink Bold!  Why am I excited?  Last time Chase introduced a change to the Ink Bold, they treated it as a new product.  That meant anyone who signed up for the new product was eligible for the sign-up bonus even if they had received the sign-up bonus before (for the old product).  Personally, I’ve received 110,000 Ultimate Rewards points from two Ink Bold sign-ups!

  • Timing: Daraius reported that the new card would come out in Q3 (July to September).  Rick reported tat a new product would be announced in about two weeks.  Was Rick talking about the same product?  My guess is yes.  I’m guessing we’ll see the new card around July 30 or so.
  • What to do: If you already have an Ink Bold (the one with 5X categories), then just wait to see what happens.  If you don’t yet have the Ink Bold (or you have an old non-5X version), then I’d recommend signing up before the new card appears.  We don’t know if Chase will continue to offer the current charge card, or if they’ll replace it entirely with the new card.  If the latter, this could be your last chance to get the current signup bonus and the new one.  The other reason to sign-up now is that we don’t know if Chase will continue the 5X categories with the new card.  I expect that they will, but only time will tell.  For tips on how to sign-up for the Ink Bold (and whether you qualify for it), see “How to sign up for the Ink Bold”.  I will also soon write-up some great techniques for meeting Ink Bold minimum spend.

 

Increased SPG Bonus

Last year, in late July and through most of August, Amex increased the usual signup bonus for the SPG (Starwood Preferred Guest) card from 25K to 30K.  I think Daraius’ comment about a summer promotion being repeated is this one.  It may not sound like a huge bump, but SPG points are really valuable so it’s pretty exciting to me.  If this happens and you signup for both the business and personal versions of the card, you will earn 60,000 SPG points.  When you add in points earned when using the card, it won’t be long before you can take an all expense paid vacation with a redemption like Starwood’s Night’s and Flights.  With this option, you can redeem 60,000 Starpoints to get 5 nights in a category 3 hotel and you’ll get 50,000 airline miles to cover your flight!  Or, redeem 70,000 Starpoints for 5 nights in a category 4 hotel and 50,000 miles.  This is just one example of the many great redemption options available through SPG.

What do you think?

Do you have any guesses as to what’s coming?  Did I guess right?  Daraius?  Rick?  Others?  Feel free to comment below.

Chase's 5/24 Rule: With most Chase credit cards, Chase will not approve your application if you have opened 5 or more cards with any bank in the past 24 months. Some exceptions that are NOT subject to the 5/24 rule include: British Airways, Hyatt, IHG, Marriott Business, and Ritz Carlton.

To determine your 5/24 status, see: 3 Easy Ways to Count Your 5/24 Status.
Chase 5/24 semantics ("Subject to" vs. "Count towards"): Most (but not all) Chase cards are subject to the 5/24 rule. That means the rule is enforced in making approval decisions. In other words, you probably won't get approved if your credit report shows that you opened 5 or more cards in the past 24 months. Meanwhile, most business cards (such as those from Chase, Amex, Barclaycard, BOA, Citi, US Bank, and Wells Fargo) are not reported on your personal credit report. These cards do not count towards 5/24.

Examples:

Chase IHG Card is not subject to 5/24 so it's easy to get. But after approval it will count towards your 5/24 total.

Chase Ink Business Preferred is subject to 5/24, so you likely won't get approved if over 5/24. If you do get approved, it won't count towards 5/24 since it won't appear as an account on your credit report.
Amex 5 credit card limit: If you apply for a new Amex credit card, you may get turned down if you already have 5 or more Amex credit cards. Both personal and business cards are counted towards this limit. Charge cards, though, are not counted. You can apparently get as many charge cards as you’d like, and the number of charge cards you have does not affect your ability to get up to 5 credit cards. Authorized user cards are also not counted towards the 5 credit card limit. See also: Which Amex Cards are Charge Cards vs. Credit Cards?
Applying for Business Credit Cards

Yes, you have a business: In order to sign up for a business credit card, you must have a business. That said, it's common for people to have businesses without realizing it. If you sell items on eBay, for example, then you have a business. Similar examples include: consulting, writing (e.g. blog authorship, planning your first novel, etc.), handyman services, owning rental property, etc. In any of these cases, your business is considered a Sole Proprietorship unless you form a corporation of some sort.

When you apply for a business credit card as a sole proprietor, you can use your own name as your business name, use your own address and phone as the business' address and phone, and your social security number as the business' Tax ID / EIN. Alternatively, you can get a proper Tax ID / EIN from the IRS for free, in about a minute, through this website.
Editor’s Note: This guest post was written by the same guy who showed you how to fly round trip to Africa (DC to Senegal) for 50,000 points. You can find John’s website and award booking service here: theflyingmustache.com/awardbooking.
-Greg The Frequent Miler

About Greg The Frequent Miler

Greg is the owner, founder, and primary author of the Frequent Miler. He earns millions of points and miles each year, mostly without flying, and dedicates this blog to teaching others how to do the same.

More articles by Greg The Frequent Miler »

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42 Comments on "Exciting credit card rumors"

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Gary
Guest

I expect the SPG 30k bonus offer to return next month.

I also expect Citibank and Hilton to announce something this week.

I am not under any sort of non-disclosure agreement about these things..

sil
Guest

I wish I had know the news just one day earlier. In the last several weeks, I applied for the 2 Citi HH, Amex HH, B of A Virgin Atlantic and lastly, the Chase PC a couple of days ago

Mike
Guest

So my churn i was planning on applying for the Bold and SPG AMEX…if I apply for the bold now, i most likely would not be able to get the SPG in another month…any ideas?

FrequentMiler
Guest

Gary: Thanks for the info! It’s interesting that Amex just added a 50K Hilton offer (which I’ve updated on my Best Credit Card Offers page). Maybe to compete with what’s coming from Citi?

sil: Generally you can apply for both a Chase personal and business card in one go, but I agree that you’ve probably have too many hard pulls on your record right now to risk another.

Mike: The idea of doing all applications in one day is really only important if you’re doing a lot of apps. If you do just one now and one in August you should be fine (unless you recently did a bunch of them?)

Jimmy @TravelByPoints
Guest

FM, Daraius also reported the return of the 50K Southwest cards this morning.

As for the SPG “Nights and Flights,” it is nice to have if you have enough SPG points to burn. But in reality, it is really paying for 3 nights and get 5 nights (if you strip out the airline mile redemption portion). I’d shy from taking advantage of it, as we have enough airline miles and don’t have the luxury of time to spend 5 consecutive nights at a hotel.

FrequentMiler
Guest

Jimmy: Thanks! Yep, I updated my Best Credit Card Offers page this morning to include the new Southwest links and the Hilton link Daraius mentioned. I already had the new VA link. Re: Nights & Flights, it was just intended to be one example of the great redemption options available. Many people do travel for a week at a time and so a 5 night chunk can be just what they need. Truthfully, I haven’t personally used this redemption either — my favorite is the cash and points options when available.

Jimmy @TravelByPoints
Guest

@FM, yep, that is my favorite, too. Thanks for all the outstanding work you do for the community!

heather adams
Guest

I received an offer in the mail yesterday an offer from Amex for a business platinum 100K miles after 10K spend. I’m thinking about since I just got rid of my personal platinum and I’ve got home improvement dollars to spend.

FrequentMiler
Guest

heather adams: If you think you can meet the spend, go for it! I picked up the same offer in the Spring and now have 110K MR points!

David
Guest

I am waiting for a new AX Plat offer…nice post. I love this kind of speculation. I also wish some of these cards would just add new spend bonuses.

FrequentMiler
Guest

All: I just learned that my Ink Cash and Ink Classic links will be pulled tomorrow at 10 am ET. I don’t have any guesses as to what this portends…

FindAWay
Guest

I recently received an invitation offer (50k UR after 1st purchase) in the mail for the Ink Plus – it seems to have the same benefits as the Ink Bold but is a credit card (not a charge card). There are a few scattered references on the internet about the card; so, perhaps Chase will re-introduce this product with more exposure (especially considering you have to pull Ink Cash and Ink Classic).

FrequentMiler
Guest

FindAWay: Interesting! I’ve tried to find official information about the Ink Plus in the past, but I was never able to find anything current. Does it have an annual fee? 50K limit on 5X categories?

Million Mile Secrets
: Sherlock Miler? Only if I’m right! Which credit card are you referring to with the seasonal increase?

Million Mile Secrets
Guest

Shall we call you Sherlock Miler? 🙂

We already saw 1 credit card with a pattern of increasing a bonus seasonally do so today, and I suspect that there will be another one too.

Chris D.
Guest

I am about a month away from the 3-month application date. Our family only applied for the Chase Sapphire last time since our budget is small. We were planning on applying for the Chase Ink Bold for next time. Since we only applied for one last time should we go ahead and jump on the Bold or wait for the 3 months to pass (credit score was not affected by Sapphire)? Thanks.

Branson
Guest

I also received the same offer that FindAWay received in the mail. Everything is exactly the same as Ink Bold including annual fee of $95 (waived for first year). It offers 50k sign-up bonues after 1st purchase! The only difference is that is a true credit card and not a charge card. It is called Ink Plus and looks identical from the picture shown.

FindAWay
Guest

@FrequentMiler – I don’t have the offer on me right now; but, I remember it being very similar to the card described in this FT thread (from earlier this year): http://www.flyertalk.com/forum/credit-card-programs/1306927-targeted-chase-ink-plus-50k-points-after-1st-purchase-points-transferrable.html

atxtravel
Guest

FM: Great info! Thanks to your discovery of Vanilla reloads, and our subsequent stumbling onto the net-spend card, I now have the minimum spend issue resolved and can create a lot of spending out of thin air.

Any word on whether Citi will do something with the AA cards? I’m thinking of applying for them before the 50k links go away…it might take until end of bankruptcy before any better offers come out.

Grant Thomas
Guest

It looks like you could apply for the Chase Southwest Airlines Rapid Rewards® Plus (or Premier) Credit Card and the Chase Southwest Airlines Rapid Rewards® Plus (or Premier) Business Card and receive 50K points each…

FrequentMiler
Guest

Grant Thomas: Yep! Million Mile Secrets has written a lot about that in the past. It’s a quick way to get companion pass status! All you need is 10K points from other sources.

Grant Thomas
Guest

I also looked at the Amex and Citi HHonor cards, that would also be a great combination

Grant Thomas
Guest

Mommy Points has a great article about SWA cards: http://bit.ly/NTJ7Bc

FrequentMiler
Guest

Grant Thomas: Yep, this is one of the best values in travel hacking available today — as long as your goal is free domestic coach flights.

Steve
Guest

Just saw a commercial on TV. Trendy music.
The discover IT card arrives July 20.
No other details. Just a lot of pizazz.

Exodus
Guest

Hi everyone, I saw a few of you received invitation of the Ink Plus. I seem to never receive any Chase invitation in the past. I do have a few Chase cards and did once asked the Representative to remove me from the marketing list. Just wonder this maybe the reason for not receiving any invitation in the past two years or because I already have a few Chase cards so they stopped sending ads to me?

Would love to find out those of you who received invitations, what situation you are in as I would like to see if I may also receive these invitations. Thank you very much

stealph
Guest

Interesting: anyone want to call to dig some info?

https://twitter.com/Discover/statuses/225242227725697024

Steve
Guest

yea, I called the number from twitter. waste of time. Talked to 4 people, none of them had info, and they couldn’t put me on a mailing list. Just told me to call back on the 20th.

Branson
Guest

@Exodus- The only thing I may do differently than others is that I still receive paper mail from my credit cards. That way I do not overlook any of the targeted new card offers. I have the Ink Bold and Sapphire and was sent an invitation for the Ink Plus. This would lead me to believe that they will be treated as 2 seaprate cards (meaning you can get the sign-up bonus on each). I will be applying in August and if it is not public by then, I will make sure to share my results.

Green Apple
Guest

Hi FM,
I recently got introduced to your blog and I really appreciate you help to the community. Being a newbie I have few questions and I would really appreciate if you can help me out here. Given that I only have a Chase freedom card (no annual fee one), what would be the best card to apply today? Going through your articles, I was thinking about Chase Ink Bold but it only guarantees 25K points on the first purchase and I have to spend $10K to get the rest of 25K points. I am sure I would not be able to spend $10K in 3 months.
Please advice.

FrequentMiler
Guest

Green Apple: If you’re just getting started with this stuff I’d recommend that you signup for my free newsletter: click here to signup. A lot of your questions will be answered there. The specific question of which card you should apply for is tough to answer without knowing your goals. Do you want to fly free internationally? Fly free domestically? Get free hotel stays? Get cash back? Do you have a preferred airline? A preferred hotel chain? As Evan mentioned, the Sapphire Preferred is an excellent all-around rewards card and is really pretty good for most of those things. However, there might be better picks if you have explicit goals. Fee free to send me an email if you’d like personalized recommendations. Contact Frequent Miler

Evan
Guest

@ Green Apple- I think most would agree the Chase Sapphire Preferred is the best all around miles/points card at the moment.

Gary
Guest

The Citi Hilton news I expected to come out today will come on Monday

FrequentMiler
Guest

Thanks for the update Gary!

Green Apple
Guest

Thanks Evan and FM. Appreciate your responses.
I will take it over email with FM from here on.

sil
Guest

Gary- If it is a New Citi Hilton Credit Card, I sure hope it will be around for several months. I just applied for 2 Citi HH, Amex HH and B of A Virgin Atlantic for HHonor points.

Gary
Guest

It’s a new product that’s pretty good and that should be around awhile 🙂

Actually one of the best hotel products I’ve seen IMHO.

Dave
Guest

All of these rumors are exciting! Here is my uncertainty… I have a Sapphire Preferred already (over 6 months old), and was thinking of applying for the Ink Bold in order to get 5x on cable, internet, phone, and 2x gas. The 5x at office supply stores is great as well, but not likely to abuse it. The current Bold is charge card, not credit, plus, I don’t anticipate spending $10,000 in three months to get the final 25,000 UR points. So do I apply for the Bold and get the 25,000, hoping that the new offer will be a credit card, which in turn should be a different product, allowing for approval. Or do I wait, and see if the new card is signifcantly better without the $10,000 spend? I’d prefer to just do a mass application to avoid multiple credit pull visibility…any insight or direction would really help.

I’d hate to apply for the current Ink Bold this week, and then have a new UR points card come out the following week which I would miss out on.

Thanks.

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