Chase Ink sign up bonus increased!

Discussion in 'General Discussion | Credit Cards' started by Dad to GO, Jun 16, 2013.  |  Print Topic

  1. Dad to GO

    Dad to GO Silver Member

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  2. NYCUA1K

    NYCUA1K Gold Member

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    The last sentence is key: with a minimum spend requirement of $5,000 in 3 months, the offer makes sense only for those who were planning on spending that kind of money or close to it, regardless. Even then, I do not see how I could justify this "churn", since I can do just as well or better with the cards that I already have.

    Let's do the math:
    Between now and Sept 14 (3 months), I am scheduled to stay at Hilton Shanghai, Hilton Osaka, Hilton Tokyo, Hilton Buenos Aires and Hilton Cardiff, all business trips that will easily allow me to meet the $5K minimum spend requirement for this Chase Ink Biz card. But why go for the churn when I already have the AMEX Surpass that awards 12 HH points/$ and would get me 60K HH points if I use it to pay for all these stays? Importantly, I think that the real benefit of using the Surpass rather than the Ink Business is that the points that I get by paying with the Surpass are on top of those that I would get for the stays, without needing to affect my credit score by applying for yet another card that I would just need to get rid off. What would be my haul after a $5K spend using the AMEX Surpass to pay for the stays? For a $5K spend, I will get 50,000 base HH points (B). The total base haul for a Hilton Diamond will be:

    HH(B) = 3.2B + 1000 + 500 +/- taxes * 12 = 176,500 +/- taxes *12 points.

    A huge haul...

    In short, there seems to be little or no justification for this "churn" or any other that has a steep minimum spend requirement if one already has another point/mile-earning credit card that can bring in as many or more loyalty points/miles compared to churning. In other words, one can do just as well or better by just doing what one would normally do without this card...:cool:
     
  3. NYBanker
    Original Member

    NYBanker Gold Member

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    Manufacturing spend at a very low cost is not a challenge in the United States today.

    I'm not sure most would give much value to Hilton points these days.

    But, why not do both? :)
     
  4. NYCUA1K

    NYCUA1K Gold Member

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    The response seems misguided, I think. "Manufactured" low cost spend is exactly that:"manufactured"...and please do not get me started about how Hilton points have no value these days...no value in comparison to what?
    That is what I just showed. You do both by just paying with an existing card....;)
     
  5. servo

    servo Silver Member

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    Hilton points have relatively low value compared to Chase UR points for the large majority of the traveling population, sans the top 5-10%. If Hilton points are your priority, then they're going to be worth more to you than many others. It's pretty widely accepted that UR points are the most valuable and easiest points to earn, especially with the Ink card. If you aren't interested in manufacturing spending, then your method would likely be the most beneficial to you and saves you the application. More UR points for us then...
     
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  6. andhoova

    andhoova Silver Member

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    Last night I applied for the Chase Sapphire Preferred and the Ink Bold. Its been 90+ days since my last round of Apps. Both apps required a call to the reconsideration line. For the personal card I worked with the rep to move credit from other cards (Chase BA, Chase United Mileageplus, Marriott Rewards Visa). After that she said the application required 24-48 hours for additional processing.
    This morning I called the reconsideration line for the business card and was told that that application was "in process" and I would have a decision within 30 days.
    Is this typical? I have an extensive credit history with Chase including the 3 cards above + a vehicle loan. Whats the deal?
     
  7. Dad to GO

    Dad to GO Silver Member

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    From what I've read online it sounds like Chase has gotten a pretty big turn out with people applying. They didn't say it would take 30 days just that it would be within 30 days. Probably just covering all of their bases. Having said that I would just wait a few days and give them a call back.

    Heck... manufacturing spend for FREE is not a challenge these days... cough cough Amazon, Chase gift cards, etc...

    That's why I said "If you were planning on applying for a business card"...



    I really don't think you can compare your current card and diamond points earning abilities to getting a Chase Ink Bold/Plus. Obviously you will get a lot more Hilton points. If that is what you want then I would just stick with that. If you were looking for some flexibility with your points to use with different programs then there really is no reason not to get this card. Not to mention your bonus points for spend on telecommunications, etc.

    **Side note... your credit score would not drop much at all with this application so if you have good credit there is nothing to worry about.
     
  8. NYCUA1K

    NYCUA1K Gold Member

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    That is only part of it. The next thing is to determine how to meet the steep minimum spend: $5K in three months to get 60K points translates to 8.3 cents/point, which is awful...unless one can incorporate the minimum required spend into already planned loyalty spending, as I did above. If one did that, the conclusion would be that one would not need this card at all.
    I suspect that most who frequent this board are members of a frequent-guest and/or frequent-flyer program. That being the case, I am not at sure why it would be verboten to compare one's ability to earn points with an existing card to the earning anticipated from the Ink Biz card. The value of the bonus points earned from a new card can be greatly increased by incorporating the minimum required spend into already planned loyalty spending. I did the math about 3 weeks ago to show why that is the case and why it is the smart way to churn...check it out.
    "not drop much at all with this application" may be relative, depending upon what one needs a good score for. The following is from my monthly 3-bureau credit report and it is considered a "negative factor" that affects my credit score: "You applied for credit 3 time(s) in the past 12 months, as recorded in this credit report", which is explained as follows:
     
  9. tulane09

    tulane09 Silver Member

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    I got both these cards since March one bonus posted, the other will be soon. I messaged chase seeing if they would retroactively give me the extra 10,000 UR each. They told me they're looking into and I would have a response in 2-4 days. Anyone have any luck with this?
     
  10. tofuness

    tofuness Member

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    I applied yesterday for the ink bold, called and was told it would take a few days to process. Called again a few mintues ago and was told the same thing. I'm going to give the reconsideration line a rest.
     
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  11. miles and smiles
    Original Member

    miles and smiles Gold Member

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    Welcome to Milepoint!
     
  12. Dad to GO

    Dad to GO Silver Member

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    I think at the end of the day this will fall under that category of "To each their own"... everyone is going to value certain points higher than others and how important it is and/or easy to get them. I think that getting a card that comes with 60K UR's for only $5K spend is a great deal. I am by no means wealthy at all, but I think it is very easy and cheap to manufacturer the spend required for these cards. I already have both the Bold and Plus so I won't be getting them but my wife will be.


    Since we're sharing credit report quotes here is a quote from mine "You opened 24 account(s) in the past 24 months." Datapoint... All of my scores with the big three bureaus are very high and allow me to get the best rates on loans.
     
  13. NYCUA1K

    NYCUA1K Gold Member

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    I provided a different perspective that maximizes the $5K spend and makes it painless. If one is happy with less that is their privilege because nearly every post on this board comes with an unstated "YMMV". BTW, the notion of "free" or "manufactured" spend implies getting money for nothing or a spontaneous generation of money, but all it does it to delay the inevitable...
    Hmmm...One new account every month...:confused: . For many reasons, that is not a recommended thing either but, again, YMMV;)
     
  14. Dad to GO

    Dad to GO Silver Member

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    It doesn't say one a month... it says 24 accounts in 24 months. 3 every 3 months... sometimes 4 but definitely not once a month. That would be a bad idea :) I have a buddy that has 35 in 24 months with scores close to 800! Now that is crazy.
     
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  15. tulane09

    tulane09 Silver Member

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    Chase just posted an extra 10,000 points to my Ink Bold which I got in March. Now waiting to see if my Ink Plus gets it too (got that one in May and I just hit the $5,000 so I haven't gotten the 50,000 yet). Betting I'll get 60,000 when that posts. Chase is beyond awesome. All I did was message them.

    This is what I wrote if anyone is interested...

    "I see that chase is advertising 60,000 UR for new ink
    bold/plus business cards. It seems I was a couple months
    early, but I got both theses cards in the last few months
    just hitting $5,000 on the ink plus recently . Is there
    anyway you can qualify me for the additional 10,000 points
    on each card? I hate to feel like a I missed the boat and
    these were both recent."
     
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  16. tulane09

    tulane09 Silver Member

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    Other 10,000 just posted. Fantastic.
     
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  17. youpaiyou

    youpaiyou Silver Member

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    Worked for me too.
     
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  18. curiousgeorge

    curiousgeorge Silver Member

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    Hi,
    I applied for the Ink Plus and I got a decision pending receive by mail screen so I guess I wait.
     
  19. Wandering Aramean
    Original Member

    Wandering Aramean Gold Member

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    More than 80 blog posts about this bonus in the past 10 days, including one blogger with 7 different posts on the topic. Almost hard to believe. Or incredibly sad, I suppose.
     
  20. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    Them are not bloggers, them are marketers.
     
  21. adambadam
    Original Member

    adambadam Silver Member

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    Was surprised when I got instant approved yesterday :D
     
  22. TravelBear

    TravelBear Gold Member

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    :mad:
     
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  23. wcblack34

    wcblack34 Silver Member

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    If I book a hotel through Hotels.com on UR Mall, will I get the bonus for hotels and the UR Mall bonus for booking through the Mall?
     
  24. Wandering Aramean
    Original Member

    Wandering Aramean Gold Member

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    That will not count as a hotel booking directly with the hotel.
     
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  25. wcblack34

    wcblack34 Silver Member

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    Can't win them all :( Oh well, the hotels.com through UR Mall bonus is better than booking directly with the hotel anyway!

    Here is another thing I'm not clear on, if I book a flight with an Ink Card through UR Mall, is there a bonus on that, or will I only get the one point for dollar spent on my card? That's how I am interpreting their terms.
     

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