As an Amazon Affiliate, we may earn a commission on eligible purchases made through our referrals. 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.
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.
(Here’s our quick primer about the card.)
“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?
Some commenters at Dan’s Deals report they were approved for the Ink Business Preferred® Credit Card despite being over 5/24.
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.
Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
I could be wrong, but my understanding is that business cards are not subject to — and don’t count towards — 5/24.
@Tom – Normally they do yes – but for some reason many are getting approved when well over 5/14 with this offer. Both my wife and I were approved!
6/24, not approved. 🙁
@glen – Bummer. Thanks for data point. May be worth calling and asking for reconsideration.