Chase Ink Plus Discontinued?
The other day news broke of a brand new Chase Ink card coming to the market. Called the Ink Business Preferred card, this new flavor of Ink will no longer earn 5X at office supply stores, but will instead earn 3X on travel, telecommunications and more. Of course, the big question of the day became whether or not this new Ink would replace the old Ink Plus and Ink Cash cards.
Well we seem to have an answer and it is a good one. According to Mile Cards, Chase has confirmed that the Ink Plus will be sticking around. They quote Chase officials as saying, “We really want to offer our business owners the choice to find the right card for their business. So the new card is really an addition.”
Now, Mile Cards doesn’t list a specific source and I wasn’t able to find that quote anywhere else, so I am assuming it comes from their own internal sources within Chase. They do seem to have a direct relationship, so I’ll take their word for it. Still, I don’t believe the above statement was made publicly or at least if it was I was not able to find it so you can make the determination as to its validity yourself.
I think it is completely plausible that Chase would keep the current Ink cards while launching a new related product. We saw it recently with the Freedom/Freedom Unlimited and of course with the Sapphire Preferred and Sapphire Reserve. A couple of years ago they scaled back their offerings by eliminating cards like the no annual fee Sapphire and the Ink Bold and now they seem to be expanding once again.
If Chase wants to grab the business card crown from Amex, having more product options is the way to do it. The 5X Ink Plus/Cash option for office supplies (with a lower $50K cap) will appeal to some while others with heavier travel spending will benefit from the new Ink Preferred card. With spending caps in place on all Ink products, Chase has seemingly factored in their risk tolerance as they aggressively go for a bigger piece of the business card pie.