**Giveaway of two invitation codes for Chase Ink – bonus points after first purchase with no minimum spend required!**
To get that 5% cash back or 5x Chase Ultimate Rewards (UR) points I talked about yesterday, you need a Chase Ink card (Bold for $95, or Classic/Cash for free). If you opt for the free Ink card, you will ALSO need to have a Chase Sapphire Preferred card in order to turn those points into free travel.
Because you can’t transfer your UR points to airline miles or hotel points without a fee-paying card. Once you have a fee-paying premium Chase card, you can transfer UR points freely from your and your household members’ fee-free accounts to that premium account, before the external transfer to airlines and hotels.
Chase Ink card gives you 5x points for purchases made in office supply stores, but it is a business credit card. Many of you ask “can I still get a business credit card if I don’t have a business?” The answer is yes!
The key to getting a business account approved by Chase is having good credit and stable income from your day job. The business can be your hobby (selling things on eBay), and the name of your business can be your name. You don’t have to make any money from your business to qualify for a business card. The “main reason” you would like to open a business account is “to keep all your business-related expenses separate” (when you get asked that question). Almost no one gets instant approval for a business credit card application, so call Chase business lending credit analyst at 1-800-453-9719 after submitting your online application.
TravelWhimsy and I applied for the fee-free Ink cards about a week ago, and just received them last night (both are MasterCard). We are going to Office Depot tonight to buy a couple of $500 gift cards to pay our upcoming auto insurance bill (I called to ask about possibility of using two cards for the payment, and was told yes). Here is a picture of our two new Ink cards and the Visa gift card I bought from a grocery store (using Chase Freedom).
We applied for the fee-free Ink cards, because we received multiple offers in the mail promising large bonus points after first purchase (the best publicly available offers require $5,000 spend in 3 months for 25,000 points for the fee-free Ink, or $10,000 for 50,000 points for Ink Bold).
In fact, I have two more invitation codes I did not use, and will be giving them away to our readers. Here are the two offers I still have. Please leave a comment below with your preference, and I will randomly pick two readers next Monday (May 7, 2012).
- Chase Ink Bold – 50,000 UR points after first purchase, no fee first year (5x bonus spending limited to $50,000 a year);
- Chase Ink Classic – 25,000 UR points after first purchase, no fee (5x bonus spending limited to $25,000 a year).
Lastly, a few more things to consider when using gift cards you purchase from Office Depot (in addition to what I mentioned in the last post):
- Rental car: don’t use the prepaid gift card, as it does not provide any coverage.
- Foreign transactions: use the Sapphire Preferred, Hyatt, or any other cards that don’t charge you foreign transaction fees.
- Returns: if you think you might return something in the future, be careful not to discard a prepaid gift card.
- Promotional bonus categories: I mentioned this yesterday, but again, use your Freedom for 5x grocery or movies this quarter (and any other future bonus categories) and Ink for 5x office supplies, telecom services.
- How to sign up for Ink by the Frequent Miler;
- How to fill out a business card application by Million Mile Secrets;
- How to lead a credit card reconsideration phone call by Million Mile Secrets.
Let me know what you think! I respond to all comments.