If you’ve been around this hobby for a long time, you already know the answer. If you are relatively new, read on. So, the other day I got this question from one of my readers (edited version):
“My husband is looking to apply for Chase Ink Cash card, and it says the bonus is $500. He currently has Chase Freedom card and I have Chase Sapphire Reserve. Is it possible to transfer the bonus from Ink Cash to my Sapphire Reserve account? I was just wondering if it would be a strictly cash back card or if there is a way to convert the bonus to points. My husband is under 5/24 limit, by the way.”
The many flavors of Ink
Chase currently issues three versions of Ink card. They are: Ink Business Preferred Credit Card, Ink Business Cash Credit Card and Ink Business Unlimited Credit card. See more details in this post All three cards are subject to 5/24 restriction, but they usually don’t go on your personal credit report.
Only Ink Business Preferred has an annual fee, and is considered to be a premium card. That means you can transfer earned points to airline and hotel partners or redeem them at 1.25 cents apiece toward travel. That’s why the bonus is marketed as “80,000 points”, not “$800”. You can certainly redeem them towards statement credit, but most people won’t. I sure wouldn’t.
Ink Business Cash and Ink Business Unlimited are not premium cards and on their own, will not unlock access to transfer partners. However, Chase still refers to earned rewards as points even if you don’t have a premium card. You just can’t get to all the good stuff. However, as long as you have any premium Chase card, your $500 will magically turn into 50,000 fully-transferrable Ultimate Rewards points. Got Chase Sapphire Reserve? Suddenly, that $500 is worth $750 toward travel.
In fact, you don’t even have to have a premium card yourself. As long as your spouse or domestic partner does, you are good to go. In the case of our reader, she is the one with Chase Sapphire Reserve. So, if her husband is approved for Chase Ink Cash card, they can simply transfer his points to her account.
Just go to “combine points” option in your Chase profile and perform instant transfer:
Which Ink is best?
This is will depend on your goals. If you are primarily after a sign-up bonus, then Ink Business Preferred is a no-brainer. Obviously, 80,000 UR points are better than 50,000 points. This isn’t rocket science. If you are looking for a premium Chase card, then Business Preferred is your best option there as well. Of course, you can convert other flavors of Ink to Preferred eventually, but it won’t be possible right away.
If you are looking for a “keeper” and already have a Chase premium card, it gets more complicated. In general, Chase Ink Cash is probably the most valuable in the long run. It’s an excellent card that has no annual fee. Here is what truly sets it apart:
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
Be aware that technically, you are only supposed to use business cards for business expenses. However, I’m not here to lecture anyone, so do what you are comfortable with.
Ink Business Unlimited offers 1.5 points (referred to as 1.5% cash back) per dollar on all spending. This is the same return you will get with Chase Freedom Unlimited (a personal card).
Bottom line
As I’ve said in the beginning, to most folks in the hobby this is elementary knowledge. To beginners or those who don’t read 10 blogs each day, this stuff can get pretty confusing. In general, I like the fact that Chase keeps things simple and user-friendly. However, in this case, they are definitely underselling Ink Cash card. Hmm, maybe that’s intentional? After all, if everyone takes advantage of 5% categories and then transfers points to Chase Sapphire Reserve, it could really spell trouble for their bottom line.
P.S. If you have questions, always feel free to email them at milesforfamily@gmail.com
Click here to view various credit cards and available sign-up bonuses
Author: Leana
Leana is the founder of Miles For Family. She enjoys beach vacations and visiting her family in Europe. Originally from Belarus, Leana resides in central Florida with her husband and two children.
I really want this card because of the internet, phone and cable perk. Seems like a no-brainer with the no AF.
Jennifer, this is a great card for bonus as well as keeping long-term. As long as someone is under 5/24 limit, there is no reason not to get it. Of course, there are other great offers out there, like recent 75k points bonus on Capital One Venture Rewards. Now if I can just get approved, sigh…