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The New Increased Ink Cash Offer
A few days ago I wrote about the increased 60,000 point sign-up bonus for the Chase Ink Plus card. The Chase Ink Plus is easily my favorite overall credit card and one I proudly carry around when shopping for office supplies. With that said, the Ink Plus has a little brother called Ink Cash and it is quite good too.
Before I go any further, I want you to know that I am not trying to sell you an Ink Cash. I will be applying for this increased offer, so I thought that it would be a good idea to share my thought processes about the card and offer. As is mentioned in the disclaimer, there are no affiliate links in this post.
4 Reasons to get the Ink Cash Now
The increased sign-up bonus
Through May 25, 2015 Chase has increased the sign-up bonus on the Ink Cash to 30,000 bonus points after spending $3,000 in the first three months. (The normal bonus is 20,000.) When redeemed for cash the bonus is worth $300, but you can do better. When this card is combined with either an Ink Plus or Sapphire Preferred, points can be transferred to travel partners. I average about 1.7 cents per point on my redemptions, which makes this bonus worth about $510 for me.
Keep in mind that the Ink Cash card is a small business credit card which means that you need some sort of business to apply. Chase can be tough, but people have been approved with limited incomes in the past and it isn’t necessary to have an Employer Identification Number. You can use your social security number to apply.
$25k Worth of 5x Spend
Both the Ink Plus and the Ink Cash have fantastic 5x categories. Not only can you earn 5x Ultimate Rewards points on office store purchases, you also earn it on your internet, tv and cell phone bills. For me that adds up to thousands of points per year.
As someone who already has an Ink Plus, this is also a way to get an $25k more in bonused spend without have to pay a second annual fee. I know a lot of people don’t use up the $50k 5x limit on the Ink Plus, but with some of the deals we have been seeing lately, it actually isn’t that hard.
No Annual Fee
As I mentioned before, there is no annual fee with this card. That means it is a great starter card to take advantage of deals like the frequent Staples and Office Depot promotions. Having no annual fee also helps if you are trying to establish a long lasting relationship with Chase. (Which can be quite lucrative.) While business credit card accounts don’t show on your credit, having a long lasting business account can be helpful for future approvals.
Great for a Light Spender
If you don’t plan on spending more than $25,000 in the 5x bonus categories each year, then this card is probably better than the Ink Plus. (Especially if you have a Sapphire Preferred and the ability to transfer points to partners.) Other than points transfers, the only real major difference between the Ink Plus & Ink Cash is the 5x spending limit. (This is especially true now that the Ink Cash lost Lounge Club.)
Why not to Get the Ink Cash Now
There are of course a lot of lifestyle and debt driven reasons not to get the Ink Cash or any other card. This post isn’t designed to address those, but everyone should take careful consideration of their personal situation before applying for anything
If You Don’t Have an Ink Plus
If you don’t currently have an Ink Plus card, I would suggest getting that first. The 60,000 point bonus is very good and I have reason to believe it will be reduced to 40,000 after the current promotion. Basically by going for the Ink Plus over the Cash right now, you would pay $95 more, but receive 30,000 more points and the ability to earn 5x on $25,000 more in spending.
I am excited that the Ink Cash has this 50% increased bonus offer. As a proud holder of the Ink Plus, I will be adding the Ink Cash card to my current portfolio in order to add more purchasing power to feed my endless need for office supplies.
How about you? Do you have this card? Are you applying during the current promotion? Let me know in the comments.