Ink Bold With Ultimate Rewards from Chase: Get 50,000 Bonus Points

by Silicon Valley Blogger on 2012-01-236

Ink(SM) Bold with Ultimate Rewards(SM) Being a business owner, I’ve contemplated picking up a credit card to handle my business expenses. There are actually a lot of good choices from some of the well known issuers, such as Chase and American Express. One of those I’ve had the chance to check out is this business credit card with a rewards program, the Ink Bold with Ultimate Rewards card.

Chase Ink Bold Business Card Review (Receive 50,000 Bonus Points)

This looks like a great business rewards card. Note that it’s a charge card that requires you to pay your balance in full each month. Let me list some of the features that I like about this card:

  • The Ink Bold card offers rewards through the Chase Ultimate Rewards program.
  • You’ll earn a one time bonus of 50,000 points after you make $5,000 in qualified purchases in the first three months. This is equivalent to $500 you can apply towards air travel or other rewards.
  • With this particular card, you can earn a point for each dollar you spend in purchases.
  • You’ll earn double points on a few things, such as when you book a flight with the reward program’s booking tool, and when you spend on gas and hotels (points are earned on a maximum of $50,000 spent on this category).
  • You’ll also earn 5 points per dollar on regular business expenses of up to $50,000 annually. Basically, the maximum number of points you can accumulate per year is 200,000.
  • You’ll earn up to 10 bonus points per dollar spent when you shop through the Chase online mall (Ultimate Rewards Mall). The mall features a wide array of merchandise and services for your needs, more than 400 partners total.
  • There are no reward point limits and these points don’t ever expire.
  • Travel with no blackout dates.
  • You can transfer your points to Chase’s transfer partners and other frequent flyer programs 1:1 (full value). For every Ultimate Rewards point you have, you’ll receive the equivalent partner point or mile when you transfer to any of these programs: Continental OnePass®, United MileagePlus®, Hyatt Gold Passport®, Southwest Rapid Rewards, Marriott Rewards®, etc.
To apply for the Ink Bold Business Card from Chase, here’s where to go.
Ink Bold Business Card With Ultimate Rewards

How To Get More Bonus Points & Employee Cards

You can also take out cards for your employees that are linked to this charge account. If your employees are card users on the account, they can also accumulate points for you. You can set spending limits for these employee cards and view reports to monitor their usage.

Once you’ve accumulated enough points, you can start to reward yourself. For instance, it only takes 2,000 points to get a $20 statement credit. Tracking your rewards is as easy as dropping by your online account. You’ll be able to check your points balance and redeem rewards without waiting an eternity for rewards paperwork. Unlike some rewards credit cards, you won’t be exasperated by sudden expiration dates or caps on your points.

While you’re traveling, you can use the amenities of various airport lounges, courtesy of your rewards program. You’ll have access to over 350 VIP airport lounges globally. Actually, you’re entitled to two free visits a year, but if you want to use airport lounges more often than that, then you’ll pay $27 per visit.

Other travel benefits include trip cancellation insurance, a baggage delay refund, roadside dispatch, and more.

Fraud & Purchase Protection, Pay in Full Each Month

In addition to the rewards, the Ink Bold with Ultimate Rewards card offers its users several forms of protection. If you determine there’s an unauthorized charge on your account, you’ll have the backing of Zero Liability Protection. If there’s some kind of suspicious activity on your account, you’ll be alerted by the Fraud Early Warning service. Price, purchase, and return protection services are available, too.

With this business credit card that’s also a charge card, you won’t have to keep track of fluctuating interest rates because you need to pay the balance in full each month. You’ll also have a flexible spending limit — your limit will change as your business does, so you aren’t likely to be constrained to your initial spending limit.

During your first year of membership, the annual fee is waived. But here’s the downside: after that, it’s $95 a year. But then again, if you consider all the points and rewards you can accrue, it may be possible to more than make up for that annual fee each year.

Other things to note: there are late payment and return payment penalty fees that range from $15 to $39, depending on the size of your balance. Also, if you’re more than 60 days late with your payment, Chase may impose the 29.99% penalty APR on your account. If you need to travel outside the U.S. for your business, note that foreign transaction fees are now waived (there used to be a charge of 3% of the transaction amount in U.S. dollars).

Comparing Other Cards To The Ink Bold

There are a few other alternatives to the Ink Bold, and we’ll take a look at a couple of them. If you’re after a business card, an alternative is the Ink Classic card, which also falls under the Ultimate Rewards program. But as far as similar features go, the card that most closely resembles the Ink Bold is the Chase Sapphire Preferred card, which we’ve covered in this review. The Chase Sapphire Preferred Card also gives you the ability to do point transfers with other travel programs, much like what the Ink Bold card allows. Both cards have a focus on travel rewards. Here’s a quick look at these options:

Ink Bold With Ultimate Rewards
Ink Classic Business Card
Chase Sapphire Preferred Card
Bonus Rewards 50,000 points after $5,000 spent (first 3 months) 25,000 points after $5,000 spent (first 3 months) 40,000 points after $3,000 spent (first 3 months)
Everyday Rewards From 1X to 5X per dollar on spending categories (focus on travel rewards) From 1X to 5X per dollar on spending categories From 1X to 2X per dollar spent, 7% annual points dividend (focus on travel rewards)
Card Terms No 0% Intro Rate 0% Intro APR for 6 months No 0% Intro Rate
Annual Fee $0 for first year, $95 thereafter None $0 for first year, $95 thereafter
Card Type Business Charge Card (pay balance in full) Business Credit Card with regular APR Consumer Credit Card with regular APR
Compare Ink Bold to other Chase offerings in our Chase Cards Page.
Chase Credit Card Offers

Many businesses have opportunities to use credit cards, whether for basic supplies or for travel requirements. If your business needs a credit card, you can gain the advantage of a rewards program with Ink (SM) Bold with Ultimate Rewards (SM). Look over its advantages before you sign up for your next business credit card.

Created September 30, 2010. Updated January 23, 2012. Copyright © 2012 The Digerati Life. All Rights Reserved.

{ 6 comments… read them below or add one }

KP October 1, 2010 at 8:23 am

Thanks for sharing your review of Chase’s Ink card! Will you be getting one?

I like the fact that your rewards don’t expire, but the annual fee is definitely a downside.

Silicon Valley Blogger October 1, 2010 at 8:59 am

I’m considering a whole bunch of cards. It’s pretty helpful when I get to review all of these cards as now I can truly feel comfortable about my choices. 🙂 The key to being satisfied about using the Ink Bold with Rewards card though, is to make sure that you’ll be spending enough to be getting an amount back via rewards that supersede the annual fee. I wouldn’t let the specter of an annual fee scare you right off if you know you’ll be getting rewards that are over and beyond that. And if you’re a business owner, there’s a good chance you’ll be spending quite a bit anyway.

Annual fees are a psychological deterrent that we consumers seem to be trained to avoid (yes, even I fall for this and have expressed my disdain for them!), but if credit cards start charging fees en masse then we’ll just have to become smarter about figuring out which card really does have the best returns for their use.

Jason November 24, 2010 at 1:50 pm

I recently gave them a try to replace my American Express Platinum Business Card. What a terrible mistake. They gave me a card with a $1,800 credit limit but did not tell me there was a limit at all. I experienced 2 embarrassing declines before calling.

Therese November 24, 2010 at 4:58 pm

I have this card and it’s been a good one so far. I consider it a favorable choice. Although I can see why having a credit limit on a business card can be an issue. I would expect the limit to be set higher.

Mac Hildebrand January 26, 2012 at 7:05 pm

Part of me hates to be lured into a card by the points system, knowing that card companies count on the psychological thrill of “scoring points,” especially double or triple times the points with certain purchases to get us to overlook the annual fee and even make purchases we would not have otherwise made because… after all, at least we get ten times the points back. The main thing I look for in a card’s rewards system is travel rewards. This category can make or break the card’s attractiveness, and I like how you highlighted the maximum $500 reward for $25,000 dollars of booking flights, hotels, and gas. I would imagine that many others spend at least enough in this double points area a year, $5000, to make up for the annual fee, especially if you make business trips to Europe or across the country. It seems like a good card. (I hope I’ve done the math right assuming 50,000 points = $500 credit).

Silicon Valley Blogger January 26, 2012 at 8:07 pm

That’s right — I think that many people including myself are often sticklers for no annual fee cards, (mistakenly?) ignoring the possibility that we can actually do better by going for a more luxury level rewards card but with an annual fee. Just as long as you don’t keep a card balance around, and you’re adept at taking advantage of a particular rewards program (that is, putting the effort to understand how to optimize those rewards), then you may find that these rewards may turn out to be worth a lot more than what you pay as an annual fee.

If you’re forgetting to keep track of your rewards and are neglecting to redeem them (esp. if they expire), then that’s another story — in this case, the no annual fee card may end up the better choice. If you keep a balance and have credit card debt, then it’s probably better to use low interest or 0% APR cards rather than rewards cards instead (because many rewards cards turn out to have higher rates than other types of cards that don’t have such generous rewards).

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