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Chase drastically reduced the minimum spending requirement for its Ink Business Preferred® Credit Card‘s welcome offer.
That’s just part of the good news.
We’ve heard reports of people who didn’t expect to be approved for the card — but ended up with some very plesant surprises.
Current Welcome Offer
First of all, here’s the welcome offer: earn 100,000 bonus Chase Ultimate Rewards points after you spend $8,000 on purchases in the first three (3) months of being approved for card membership.
Yes, $8,000 is a little steep for some. But consider this: the previous welcome offer required you to spend $15,000.
“LOL/24” — But Approved?!
“5/24” the colloquial term for Chase’s onerous policy of automatically denying card membership to anyone who’s been approved for five or more credit cards within a rolling 24-month period.
And the five credit cards applies to any issuer on your credit report, whether it be Amex, Capital One, Citi, etc.
I understand why Chase does this — but they need to lighten up a little.
Maybe they are?
Many of us love chasing points (no pun intended) and apply for new credit cards every so often. (Once a year, twice a year, three times every 91 days…)
Hence, we are (as one Eye of the Flyer commenter called it) “LOL/24.”
The Ink Business Preferred® Credit Card allows cardholders to redeem points at a 25% bonus when purchasing travel through Chase Ultimate Rewards. So,100,000 points is potentially worth $1,250. That’s great for airfares, hotels, and yes, cruises. (Even more if you hold a Chase Sapphire Reserve card.) Not even to mention Chase’s transfer partners.
Time to Set Sail!
The Ink Business Preferred® Credit Card reduced its $15,000 minimum spending requirement to $8,000. People report they were approved for the card — despite being “LOL/24.”
If you’re in the same boat cruise ship, it might be worth your while to give it a shot.
(H/T Gary Leff)
Frequent Floaters has partnered with CardRatings for our coverage of credit card products. FrequentFloaters and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
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