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Two New Cards and 120,000 Points: My Q2.5 Round of Credit Card Applications

 

I usually wait 90 days before applying for more cards but this deal was good to miss! If you’ve been thinking about applying for Chase Ink business cards, make sure you apply before June 1, 2014!!!

 

DISCLAIMER: Credit cards can be extremely dangerous for those that cannot control their spending and are not financially disciplined. If you cannot pay your credit card off in full at the end of every statement cycle, all the miles/points are NOT worth paying 15-25% interest. If you don’t have high enough credit score, your applications will be denied and it will lower your score even further. If you plan to take out a mortgage for a home or a loan for a car, recent inquires on your credit will impair your ability to get the best rate, or the loan. You don’t have to earn a lot, but you do need to spend less than you earn. Read more about it on Eden’s blog – Credit Score FAQ.

 

Chase

I applied for two Business Cards from Chase – Ink Bold Business (annual fee of $95 waived for the first year) and Ink Plus Business (annual fee of $95 waived for the first year) because both cards are currently offering 60,000 Ultimate Reward points when you spend $5k within 3 months.

Why: I cancelled my existing Chase Ink Bold, issued as a MasterCard because Ink Business cards are now issued as a Visa Card, which is considered a different product so the Visa version will get me the sign up bonus again. You can also enroll your Ink Business cards (must be Visa Card) with Visa SavingsEdge to automatically get 1% cash back. Also Ink Business cards offer 5X points per $1 on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services and 2X points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel. And no I don’t plan on buying $50,000 worth of post it notes to accrue the additional miles I need. There is a much simpler way to get 5X points at office supply stores…

 

I think I need to take a break from applying for credit cards…

 

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