No Changes To The Ink Plus 5x Earning
Yesterday, the miles and points world was on fire a bit. Many people’s favorite earning card out there, the Chase Ink+ card, looked like it may be getting a devaluation in a major way. An email from Chase listed shipping instead of office stores as a 5x earning category to announce the upcoming change to the Hyatt transfer rate. That sent people into a frenzy thinking office store earnings were dead with the Ink+. Maybe even worse than that, what about the no fee Chase Ink Cash? Would that be next to drop 5x office stores? I had said that my best guess was that it was an error in the email. Likely some intern copy and pasted the earning categories of the Ink Preferred card or something like that. It appears that my assumptions were right, as there are no changes to the Ink Plus 5x earning categories.
Response From Chase
We reached out to Chase when writing the initial article about the potential devaluation. I promised I would update you when / if we get a response. Here is what they had to say about the situation:
Today’s email to Ink Business Plus cardmembers included inaccurate information about the 5x earn on office supply stores and internet/cable/phone services benefit. To be clear: there has been no change to this earn category.
This is great news for current (and future Ink Cash) cardholders. I know this would have been a major devaluation for most cardholders.
5x Ink Plus Office Store Earning: Final Thoughts
The question still remains, was this something Chase is considering but the info leaked early? That is something that we have seen happen before. I don’t think that is what is happening here though. I don’t think a Chase employee has had to think about, write about or talk about the Ink Plus in a very long time. They probably forgot it is even a thing! My guess is someone confused the Ink Plus with the Ink Preferred (which does earn bonus points for shipping).
I am sure you are having a big sigh of relief right now. Let me know if you think this is a foreshadowing of what is to come or just a mistake down below, or over in the MTM Facebook Group.
I hate to be a doomsayer, but we have often seen similar “mistakes” in the past. Maybe the mistake was to send the emails out now. Maybe office supply 5X is ending, just not right now. I suspect we (to include CIC customers) will get those emails later this summer.
In the end, offering 5x on Office Supplies is a money loser for Chase. Not that the hobby would like it but Chase would serve itself best by eliminating it.
To me, there is a clear emphasis on growing earnings in Chase’s personal banking and credit card divisions. Fees are going up. Rewards are being constricted.