I received my Chase Ink Bold card today in the mail and activated as soon as I can to get started towards my $500 sign-up bonus (which I intend to convert into 50,000 United points). There are many great reviews on the web already on this card which I believe is the best credit card sign-up bonus available right now; I defer readers to The Points Guy for his great review of the card. I will try to accomplish 2 things in this post: (1) show you what the actual card/sign-up package looks like (an unboxing, if you will, for credit card nerds) and (2) tell you about how I acquired it even though it is a business credit card.
Rewards and benefits
The Ink Bold is a MasterCard World Elite, which is the top-echelon offering from MasterCard and offers several benefits like 24/7 concierge and travel adviser. I’m more of a do-it-yourself kind of person, but it’s nice to know that there is help when you need it.
The benefits of the card are numerous – the biggest perk is to put your phone, mobile, cable, and internet bills on this card; my monthly expenditures run about $200 on these services which is $2,400 a year, and at a 5% rebate that translates to $120 in savings that more than covers the annual $95 fee (waived 1st year).
- 50,000 Ultimate Reward points after spending $5,000 in the first month. You can meet this beyond daily expenditures by stocking up on gift cards at Staples (you can usually find Amazon gift cards in-store and buy them at a 5% discount, then store for later use)
- These points can be converted to 50,000 United Miles, $500 cash deposit into your Chase account, or $625 credit when booking travel through Chase. I find the United 1:1 transfer to be the best option at $800-$2,000 of realizable value, but it’s really up to you how you want to spend the reward.
- 5x points on the first $50,000 spent annually at office supply stores, and on cell phone, landline, internet, and cable TV services
- 2x points on the first $50,000 spent annually at gas stations and hotels (when purchased directly with hotel)
- 1x points on all other purchases
- 1:1 transfer of pts to participating frequent travel programs
Benefits and Perks
- No foreign transaction costs. No need to elaborate further here; this is a big cost saver if you travel abroad frequently.
- 2 free passes to Lounge Club. Enter the code “CHASEINK” at the Lounge Club website and fill your information to continue. The club does not have great presence domestically in the US but are popular in Latin America, Europe, Asia, and Africa; here is a list of participating airports. Since I do not currently have a card like the Amex Platinum that grants airport lounge access, this is a nice little freebie to have.
The card arrives in an unmarked envelope and includes 2 pamphlets in addition to boring black-and-white documents, which walk you through benefits of the card, limitations (it’s a charge card so you will need to pay off in full each month), and a business card agreement which is all very standard.
The Ink Bold itself is beautiful. It would have been great if they made it metallic like the Sapphire Preferred, but it’s got the same shiny metallic blue look I love.
Chase Ink Bold card front view
Chase Ink Bold card back view
Chase Ink Bold card welcome package
How to get one
Just because the Bold is a business card does not mean you cannot apply – if you sell items on eBay, manage an investment portfolio, or generate almost any kind of income outside of your primary job, you qualify as a Sole Proprietor.
(1) On the application page, fill in the information required, using your SSN# as your tax ID and your own name as your business name. Fill out questions like annual business revenues to your best estimate – BE HONEST as they will most likely defer back to your personal credit evaluation anyways when considering approval.
(2) Submit the application. You will most likely get a message that your application “needs more time for consideration” and you will be notified within 30 days.
(3) Call the Chase reconsideration line at (800) 432-3117. I recommend doing this right after you submit the application.
(4) An agent will come on – tell him/her the card you applied for and relevant info like your SSN to retrieve your records. You will be asked questions pertaining to the nature of your business; again, answer truthfully.
(5) Ask for a low credit limit (say $5,000 if your typical credit line is $8,000-$10,000) which will improve your chances of being approved.
(6) Be polite and courteous – the Chase reconsideration agents are generally very nice and are helpful, and want your application to be approved.
(7) After holding for 3-5 minutes once our twice when they run your credit information, the agent will most likely get back to you and tell you you are approved. Your card should arrive in the mail within 1 week. Start enjoying the benefits and racking up the reward points!