Update: Chase have confirmed the new card in a tweet saying that a new top-tier business card with richer rewards, is launching later this year. They also posted an image of the card and also confirmed the 80,000 points sign-up bonus.
Chase is continuing its push to snag wealthier credit-card users and gain market share by introducing a top-tier small-business card with richer rewards than products from rivals.
The new card is called Chase Ink Business Preferred. Bloomberg reports that the card will come with a 80,000-point signing bonus when it rolls out later this year. Business owners earn 3 points a dollar for the first $150,000 spent on travel, telecommunications, shipping and advertising on social-media and search engines. Purchases after that limit or in other categories earn 1 point per dollar.
These seem like the rumored changes that were supposed to come to the Chase Ink cards. But it’s not clear if Chase Ink Business Preferred will replace those cards or it will just be added to the lineup. It was rumored that current Ink cardholders will get to keep their 5% categories, and you should apply now if you want to take advantage. There’s currently a 70K offer in branch.
This new addition by Chase comes just months after the much talked about release of its new Sapphire Reserve card that has a 100,000-point signing bonus.
The Chase Ink Business Preferred card’s signing bonus kicks in after users spend $5,000 within the first three months. The $95 annual fee is waived for the first year if the account is opened at a branch which seems similar to what Chase Ink Plus offers.
The new card’s $150,000 limit for triple points means higher potential rewards than Chase’s existing small business cards, Ink Plus and Ink Cash, as well as competitor offerings.
What is also great about this, is the fact that it is a new product and you’ll be able to get the sign up bonus even if you’ve had the other Chase Ink cards in the last 24 months. I expect Chase Ink Preferred will be included in the 5/24 rule, but maybe we’ll get a leaked application link again, allowing people to bypass it.
- Apply Here
- 80,000 point signing bonus when you spend $5,000 within the first three months
- 3 points per dollar for the first $150,000 spent on travel, telecommunications, shipping and advertising on social-media and search engines. 1 point per dollar after that
- 1 point per dollar on all other purchases
- $95 Annual Fee (waived in branch)