One of the best credit card sign-up bonuses in existence is the 50k point offer from Chase Ink.
But to make the deal even sweeter, Chase offers three different versions of Ink. Two of the three, Chase Ink Bold and Chase Ink Plus, offer the 50k sign-up bonus.
The other one, Chase Ink Cash, only offers $200 cash back as a sign-up incentive, so let’s ignore it for the sake of this post.
Should You Apply for Both Ink Cards?
You might have come across the three Ink cards only to ponder which you should apply for. With a bonus offer that good, it could make sense to apply for both.
After all, why settle for 50,000 points when you can get 100,000+ instead? The caveat is that you need to do double the spending to qualify for both bonuses.
And you need to get approved for both versions of Chase Ink, which could require some explaining on your part.
But let me tell you how I did it and why it makes perfect sense.
First I Applied for Chase Ink Bold
When I applied for the Ink cards, they were offering 60k bonus points, so I could easily earn a minimum of 130,000 points simply by meeting the $5,000 spending requirement on each card.
In hindsight, it might make more sense to apply for the Chase Ink Plus first, seeing that it’s a credit card, and then apply for the Bold. The logic is that a charge card doesn’t give you the option to carry a balance, so Chase isn’t taking as much risk with you.
Conversely, you could argue that you have the Bold, and now want the credit card flexibility of the Plus, so that order makes sense as well.
And credit card limits can be shifted (unlike charge cards), so if you already have a Chase business card, you could move a portion of an existing credit line to Ink Plus for much easier approval.
Either way, you’ll want to have good credit, a solid business, and solid numbers to back up your business.
There’s a good chance you’ll get sent to the reconsideration line when applying for one or both of these cards, so be prepared to answer relevant questions about your biz.
Anyway, I got approved for Chase Ink Bold and quickly spent the $5,000 needed to get the bonus.
Tip: Don’t just spend on gift cards and at office supply stores. Put your utilities on the card, use it at grocery stores, restaurants, and for other everyday purchases. If you don’t, it could hurt your chances of getting a second Ink card later.
Then I Applied for Chase Ink Plus
Only about two months (if that) after applying for Bold and meeting the minimum spend, I applied for Plus. I knew I’d have some “splaining to do” given the short time span between applications.
Sure enough, I got that infamous account is being reviewed page, so I immediately called Chase and got prepared to answer some questions.
They asked about my business and income and why I wanted another Ink card. I just explained that I had the charge card but wanted the flexibility of a standard credit card.
After a bit of back and forth, I was approved for my second Ink card within months. Sweet! Another 60k bonus points on the way.
Remember, I was using my first Ink card for all types of REAL purchases, so that probably helped. It didn’t just appear as if I was trying to get the bonus before bolting.
Additionally, I paid off the full balance on the Ink Bold card before applying for my second Ink card to show them I could and will pay on time.
So in a sense you want to prove yourself worthy with your first Ink card before getting another, otherwise you’re just setting yourself up for failure.
Tip: There’s a new 70k sign-up bonus on the Chase Ink Plus card if you apply in a bank branch. It doesn’t waive the annual fee the first year so it equates to a net 60k bonus, which is still better than the current 50k offer.