A 50K Ink Cash Bonus Offer is now available, much better than the usual 30K ($300) bonus for the card. I continue to prefer the Ink Cash and the now defunct Ink Plus, because they earn 5X on internet, cable, phone, and office supply store spend. 5X on office supply store spend is what makes possible 5X on all of our Amazon and Whole Foods spend, which is valuable to anyone who has significant annual spend with both as we do. Here are the card details:
- 50,000 Ultimate Rewards points (if you also have an Ultimate Rewards-linked card such as the Chase Sapphire Reserve or Chase Sapphire Preferred) after you spend $3000 in 3 months from account opening
- 5X points per dollar on the first $25,000 in combined purchases each anniversary year on internet, cable, phone, and office supply stores
- 2X points per dollar on the first $25,000 in combined purchases each anniversary year on gas stations and restaurants
- No annual fee
Is This Offer Subject to Chase 5/24?
Unfortunately, yes. If you've had 5 or more hard credit pulls in the past 24 months (from any issuer, not just Chase) you won't be eligible for this offer, unless you receive a targeted offer or are pre-approved for it in a way that bypasses the 5/24 restriction.
The Offer Says $500; How Do I Earn 50,000 Ultimate Rewards Points Instead?
The Ink Cash earns points that can be redeemed for cash back or gift cards, at the rate of 1 cent per point. But if you have an Ultimate Rewards-linked card such as the Chase Sapphire Reserve or Chase Sapphire Preferred, you can transfer out the 50,000 points to Ultimate Rewards partners such as Korean Air Skypass, Singapore KrisFlyer, United MileagePlus, Air France/KLM Flying Blue, World of Hyatt, etc.
What's the Best Use of Ultimate Rewards Points?
The best use depends on your travel needs, but the highest value use is transferring to airline frequent flyer programs to redeem for first class, such as Korean Air First Class, Singapore Suites on the A380 (though be aware there is often little availability at the saver level), ANA First Class or Lufthansa First Class via United MileagePlus, or business class awards such as Brussels Business Class, Austrian Business Class, Swiss Business Class.
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