|by Mr Credit Card|
As I mentioned in my previous review of the Chase Ink Bold Card, Chase has come up with four new redesigned business credit card called INK. Today, we are going to look at the Ink Plus and the regular Ink cards. Both are reward cards based on the new Ultimate Rewards program.
Ink Plus Rewards – Let’s start with the Ink Plus. You get to earn one point for every dollar that you spend on the card. If you shop with your card at Chases’ Ultimate Rewards Mall, you could potentially earn up to ten points for every dollar that you spend on the card.
Card members will receive 10,000 bonus points when they spend $50,000 on the card a year. If they spend an additional $50,000 (ie total spend of $100,000), they will get an extra 15,000 points.
You can earn unlimited points which do not expire.
Chase Ultimate Rewards Program Summary – The Ultimate Rewards program allows you to redeem points for travel items like airline tickets or hotel bookings, gift cards, merchandise and cash rebates. There are three ways in which you can redeem your points for travel. You can exchange points for airline frequent flier miles though so far Ultimate Rewards only have a couple of airlines like United and Continental as partners. You can use their travel booking site to book your travel with your card and you can earn double points for every dollar you spend booking an airline ticket. You can also book your own travel with any travel agent you want and you will get a statement credit using the reward points you have earned.
Free First Year Membership For Priority Pass Lounge – Card members get their first year fee waived for a membership in Priority Pass Lounge. You can also get two complimentary visits a year to any Priority Pass Lounge.
Annual Fee of the Ink Plus – The annual fee of the Ink Plus Card is $60 though the first year fee is waived.
Ink Plus Rewards and Differences – The regular Ink Plus Card has no annual fee and essentially has the same reward features and program. There are a couple of subtle differences. Firstly, you cannot earn any bonus points, unlike the Ink Plus, where you can earn an extra 25,000 bonus points a year depending on how much you charge on the card.
You also do not get complimentary first year free membership to the Priority Pass Lounge and the two complimentary visits that you are allowed a year to the Priority Pass Lounges.
However, unlike the Ink Plus, you get a 0% introductory offer for both purchases and balance transfers.
No Additional Card Fees – Both cards do not charge any annual fee for employee cards.
Verdict and Opinion – Chase has improved their reward program a lot from just a couple of years ago. Let’s start with the Chase Ink Plus. I think this card will suit business owners who spend at least $100,000 on the card a year cos you get the extra bonus (though you have to bear in mind the $60 annual fee after the first year). It will also suit business owner’s who want to use reward points for travel but are not real frequent fliers and hence do not need to transfer points into miles (cos the Ultimate Rewards still does not have as many airline partners as Membership Rewards and Diners Club Rewards).
The Regular Ink Card will appeal to business owners who would not charge as much to the card (and hence the extra bonus points will not matter), but still want a decent no annual fee rewards credit card. Those looking for a 0% APR deal for either purchases or balance transfer might also want to consider this card.