If you had a Chase checking account you could get a lucrative Freedom Exclusives card or Ink Bold Exclusives card. The Freedom Exclusives card offered 10 points per transaction, 5 points per dollar in rotating categories, and 10% bonus points dividend. The Ink Bold Exclusives card awards threshold bonuses so that you’d earn 1.65 points per dollar if you spend $50K annually or 1.675 points per dollar if you spend $100K annually.
I wrote on 11/29/11 about the final chance to get an Ink Bold Exclusives card.
I had several Freedom Exclusives cards, but Chase killed the 10 points per dollar for my Freedom cards way back in 2013, and then killed the 10% bonus in 2015, though some people continued to retain Freedom Exclusives benefits even afterward.
In 2014 I wrote about the end of the line for new Ink Bold applications.
In 2015 Chase changed Ink Bold cards from charge cards to credit cards. Charge cards don’t have a set credit line, and it was awesome to have a Chase card like that. Unfortunately with that change Chase no longer offered any charge cards, sending many customers who needed a flexible spending limit to AMEX charge cards.
And now I got notice that my Ink Bold Exclusives Mastercard will convert to into an Ink Plus Visa in January. I already have 2 Ink Plus Visas, so why not a 3rd.
I also was notified that my Ink Classic Mastercard and my Ink Cash Mastercard will become Chase Ink Cash Visa cards in January.
Those cards earn 5 points per dollar on spending at office supply stores and on telecom.
Unfortunately that means I’ll lose the ability to earn up to 1.675 points per dollar and I’ll lose the ability to earn 5 points per dollar on gift card purchases from CardCash and Paypal Digital Gifts via eBay.
The only real upside for Visa is the 5% rebate at B&H, Lenovo, and more.
Will you miss your Chase Ink Mastercard?
Im confused…Are they getting rid of the 5x at office supplies stores for ink? (I couldnt tell based off your post…)
No.
You pay $95 for each of those 3 Ink Plus cards?
2 words: Retention bonuses.
what exactly is retention bonuses?
For my Ink Visa, they told me there was no statement credit they could offer so, I switched to an Ink Cash. My Ink Bold MC and Ink Plus MC fee come due this month. Is there any magical way to get the fee refunded?
It helps if you spend on the cards.
I have Newberry recieved a retention bonus. How to?
I buy thousands of dollars in Amazon gift cards from PPDG for 5x. This one is going to hurt. I guess I’ll have to make the trip to Staples now.
Sure does.
You can still buy from Gyft……
Gyft is considered office supply?
But the 5 points/dollar on Chase ink cards at office supply will continue, right?
Yes.
NOW WAIT A SECOND…. are you saying that my old (grandfathered) ink bold will be loosing both top perks; 1) 20% bonus points for having a chase checking account and 2) 47,500 additional bonus points for an annual 100k spending?!?!?!??
Sadly, yes.
i currently have the old chase ink classic
can i apply for the ink preferred before it merges?
My Ink Classic is becoming Ink Cash. Nothing to do with Ink Preferred.
You mentioned the only real upside with the VSE. Don’t forget that that too is capped, (unless you are busy adding AUs, of course).
Free AUs 🙂
I’ll miss it. It’s my only MasterCard Business and I do have easy savings benefits on pretty much every statement. Any recommendations for a MC business replacement? (I’ve already got a personal JetBlue MC, not sure if it pays to double up.)
I tried to have them waive the $95 fee…to no avail… so I cancelled…
Why not just downgrade instead?
I just want to clarify: I have a Chase business preferred Ink (which I use as a primary business card). There’s no changes there correct? I never received an email notice so probably not. As long as you’re reading this, do you have a favorite business card for primary use (must have no foreign transaction fee)?
No changes.
Why do you need to use a business card?
They started making awareness that the card is for business use only. I believe it was stated on the statement or on a flier that came with the statement.
What exactly will I be losing by my card getting downgraded from Ink bold to Ink cash? Will I still have the annual fee?
You only get the 5x on $25K of spending.
No fee.
Didn’t see this clearly in the article- Will there be no more 5X on cardcash via paypal payment?
I will miss my Mastercard. My county allows payment of county taxes by either Mastercard or Discover, for a low 1% convenience fee.
Please explain what it has to do with the ability to earn 5 points per dollar on gift card purchases from CardCash and Paypal Digital Gifts via eBay
Also i think the chase freedom unlimited is a gr8 card
Also depends what your spending is
Ink Mastercard earns 5x there.
Well; had just got the Ink Preferred and was debating on whether to keep that vs splitting time with the Bold; this made it easy. Preferred move since we have the tmobile bill on that now for the cell protection perk.
Bye bye bold; you were good while it lasted all these years.
Can still earn 5x with Ink Cash/Plus.
Goodbye Chase! For nor reason they just closed all my family’s accounts. No explanation. I let a friend use a couple of my cards on a regular basis for his business. He always paid the bill in full from his business checking account. The last couple months he started banking at chase and paid the bill from his chase account which I am not am signer. That is the only thing I can think of why they closed all my accounts accounts and everyone at my address. Been charging tens of thousands of dollars consistantly every month. They would not give me any explanation….
Just a warning to others who don’t want this mess….
You violated several big no-nos.
https://www.dansdeals.com/credit-cards/what-not-to-do/
I did violate some of these rules. However, the company spends a few hundred thousand dollars a month on Amex. A local Amex rep called us up and came down to check out our business and was ok with it. They are happy for us to give them that kind of business. It’s Chase that closes accounts without warning. That is why it is worth warning people who use cards frequently for their business to stay away from Chase and not deal with the headaches of them closing the whole family’s card without warning.
AMEX will absolutely close you down for those things as well.
It’s only a matter of time until it happens if you keep it up.
At one point we stopped charging on Amex and a local Amex rep called us up to find out why we stopped using them. If there are 5 employees buying whatever we buy for the company and paying from the company’s account and everything is on the books and verifiable, why should they stop it. I have friends in the same business who consistently charge over 500k monthly on their Amex. They have a personal Amex rep who is on top of everything. But the point is that Amex will call. And even if you did something that will trigger your accounts getting closed, you will get a heads up notice and u can close the accounts yourself as opposed to Chase who just closes the entire address accounts wthout warning.
Your story with amex doesn’t match your story with chase. With chase you said he was paying from his own account. With amex he was paying from an account that matched the business name on the cc.
Does this mean the rewards will be only cashback like the Freedom?
As someone who makes a substantial chunk of points just from the signup bonuses (rookie), I feel like accepting the new card means I miss out. Why wouldn’t I just cancel this card myself and apply for a new card to get the bonus?
Thanks in advance!
Any thoughts?
Still no thoughts? Not sure what to do here. It seems like I would be best not to go with this transition and then just apply for the card and get the sign up bonus…?
I have the Chase Ink bold business mastercard and got notice that it is being converted to Chase Ink Plus Visa. I spend a few thousand/month on my card. How will this affect me?