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Chase announced that it’s launching a brand new business credit card, the Ink Business Preferred Card.
That card will offer 3x Ultimate Rewards points on travel, social / search online advertising, shipping, and telecommunications spending, up to $150,000 combined each year.
It has a $95 annual fee, but will be waived the first year if the account is opened at a branch.
But in an email response to an inquiry from MileCards.com, Chase officials confirm the existing Ink Plus Business Credit Card will continue to exist, saying “we really want to offer our business owners the choice to find the right card for their business. So the new card is really an addition.”
Update: Chase has amended its prior statement, which had confirmed the Ink Plus would be offered alongside the Ink Preferred, adding:
“While the Ink Plus card will remain the same for current cardholders, it will no longer be offered to prospective customers when the Chase Ink Business Preferred card launches later this year. The good news is that for business owners who love 5x on office supplies and telecom, they can still get this bonus point category when using the Chase Ink Cash card. Overall, this provides some differentiation in choices for business owners for a card that best fits their needs.”
So if you have an Ink Plus, don’t worry about the Ink Plus going away or losing 5x earning categories – they will remain alive. And the Ink Cash will remain alive for new applicants with 5x earning categories.
But if you don’t have an Ink Plus yet, there’s not much time left to get one.
The Ink Plus offers 5x points on office supplies and telecommunications spending, up to $50,000 a year, plus 2x points on gas and hotels, up to $50,000 a year.
It also has a $95 annual fee.
That gives you lots of choice if you decide to get the Business Preferred on top of an Ink Plus, especially if you do a lot of travel and office supply spending, since holding both cards can let you really rack up big category bonuses.
On the surface it sounds counter intuitive for both cards to remain, but Chase used to have two almost identical business card brands before – the Ink Plus and the Ink Bold, which was a charge, rather than credit card, but had the same annual fee and earning structure.
Years ago, the Ink Bold on its own changed its earning structure, but grandfathered in prior cardholders.
On the personal side, it launched the Freedom Unlimited alongside the existing Freedom this year, both with no annual fee.
And it added the Reserve level to the Sapphire Preferred.
No word on when or if Chase will launch a super premium business card that goes after the Business Platinum Card from American Express, but with 3x points on travel the new Ink Business Preferred already matches a lot of the value that the Sapphire Reserve offers on the personal side.
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