Downgrading to Ink Cash should only be done if you CAN’T get an Ink Cash card through the normal application process. By downgrading, you forfeit your ability to apply for it and get the $500 bonus. I just hit the 1 year mark on my Ink Preferred and refused the downgrade when I called to close. I’m planning on applying for the Ink Cash and Ink Unlimited this year.
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Valid. But since Chase has been my main cards for ongoing usage and many rich offers, I have intentionally treaded lightly with Chase business cards. Two is enough for me and I haven’t/ won’t churn them. Especially since I have no use for them past the high payout category bills. Reports seem to also be that they scrutinize the business card apps (with low spend) much more highly, and that many of the across the board closeouts are precipitated by a rejected business card app. No idea if there’s truth to that or just a selection bias in the reports.
I do know I would rarely suggest even applying for one to someone with very light business activity. For some reason the easy questions often asked over phone really seem to trip a lot of people up.
Edit: the 50k pts for ink cash welcome bonus is also on the low end of the spectrum for available chase welcome bonuses.
If you have CSR or CSP, A 50K UR bonus is only behind CSP with 80K. The $500 cash bonus is middle of the spectrum, just behind CSP, UA and SWA. Low end is Freedom, Disney, AARP, etc <= $200. And if you already have or can’t use the others, or cant churn due to timing limits, it’s better than anything else available from other issuers.
Yes. Also behind the southwest personal cards currently ( in discussion) and more importantly behind the ink preferred. Also behind the southwest business preferred card. Agreed it’s still great viewed by itself, especially compared to other issuers.
Since there’s no product family or 24 or 48 month restriction between bonuses on the business cards, I don’t see how it would be a benefit at all to apply for the ink cash directly rather than downconvert. If instead just down-convert, can’t someone just apply for a new Ink Preferred for the larger bonus. Again, personally i’m not taking chances though on churning the business cards. Especially with $6k in UR points I have that they could seize. But if someone’s going to do it then why not take the most profitable option? 100k points vs 65k when including referral. Plus you avoid having another closed card on file (the old ink preferred) , which may be flagged as more negative in a “points abuse” investigation.
I would think a new ink preferred application after already having an ink preferred and downgrading it to ink cash would make you look more like a churner than getting the ink preferred, keeping it a year, closing it, waiting a little while, then getting the ink cash, keeping the ink cash, waiting a little while, then getting the ink unlimited. That’s my plan.
I currently have two businesses with chase. One is under my SS# from a long time ago and it only has one grandfathered ink card with 3% back at gas, office supply, and home improvement/hardware stores. I haven’t made any changes on that account in years. My other chase business is a real sole proprietorship which so far has only had a chase ink preferred. I’ve never done any self referrals. Only organic spend and no gift cards. I would think I’m probably not on a churner watchlist and I plan to keep it that way.
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Great thread. Thanks for the info and data points.
I have 3 Chase Ink varieties at the moment. I think 2 are an EIN and the third under SSN, if I remember correctly.