Ink Rules: Options for getting additional 60K and 30K Ink Plus and Ink Cash bonuses

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Ink Plus and Ink CashThrough May 25th, Chase is offering enhanced bonuses for their Ink Cash and Ink Plus business credit cards.  Both cards earn valuable Ultimate Rewards points.  The Ink Plus has the added ability to transfer points to airline and hotel programs or to use for 1.25 cents per point value towards Ultimate Rewards Travel purchases.  The Ink Cash points can gain these abilities too if you (or your significant other) also have a premium card such as the Sapphire Preferred or Ink Plus.  The trick is to simply move your points from the Ink Cash account to the premium account before using the points.

The current offer details are as follows:

  • Ink Plus: 60,000 bonus points after $5K spend within 3 months of account opening.  With the online offer, the $95 annual fee is not waived the first year.  In-branch, you may be able to get the fee waived first year.
  • Ink Cash: 30,000 bonus points after $3K spend within 3 months of account opening.  No annual fee.

You can find both offers and more details on my Best Offers Page.  Information about how to sign up for these cards and whether you might be eligible can be found here: How to sign up for Chase Ink cards.

Signing up for more than one

I often get asked variations on the question “I already have an Ink card, can I sign up for another one?”  There are two important aspects to this question, the first is whether or not Chase will allow a person to have multiple Ink cards.  The second, is whether or not a person can get the signup bonus again.

Here are the rules, as I believe them to be, based on my own experience and input from readers.  I have absolutely no inside information from Chase about any of this.  Also note that when I say that a person can signup for one or more cards, I’m not suggesting that they would be approved for each card.  That depends upon each person’s situation.  So, without further ado, the rules as I believe them to be…

Get a new Ink card without cancelling old cards:

  1. A person can have, and get the signup bonus, for each variant of Ink: Ink Plus, Ink Cash, and previously available cards: Ink Bold and Ink Classic.  So, for example, someone who already has the old Ink Bold and Ink Classic cards could signup now for the Ink Plus and Ink Cash.
  2. A person with multiple businesses can have, and get the signup bonus, for each business and each card type.  For example, a person with two businesses could signup for two of each type of card: Ink Plus for business 1, Ink Plus for business 2, Ink Cash business 1, and Ink Cash business 2.
  3. A person can have, and get the signup bonus, for each generation of Ink.  Ink cards used to be issued as MasterCards, but are now issued as Visa cards.  So, a person with an Ink Plus MasterCard, for example, could now signup for the Ink Plus Visa.

For all of the above “rules”, it is not necessary to first cancel your existing Ink card.  That said, it might help your chances of approval to either cancel first if you don’t need the card or be ready to cancel, if necessary, during a reconsideration phone call.  Note that I said “might” — It’s really just a guess on my part.

Get a new Ink card after cancelling an old card:

  • If you plan to sign up for the exact same type of card that you’ve had before, and assign it to the same business as before, then you need to make sure the old card has been cancelled and wait 24 months after having previously received a signup bonus for that card.  This rule is listed here just for completeness.  The truth is that if anyone earned a signup bonus 24 months ago from the time of this writing, then that would have been for the MasterCard version of the card anyway, so it should be safe to signup for the same card again since it is now issued as a Visa card (see rule 3, above).

Caution: The “rules” described above may or may not be correct (as I said, they are derived from personal experience and reader input, not from official word from Chase).  More importantly and more likely: the rules could change at any time.

See also:

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