The Chase Ink Plus and the Chase Ink Bold are almost identical.
Almost.
With only one slight change, I think it’s best to call them fraternal twins.
Chase Ink Bold Vs. Ink Plus
Sign Up Bonus:
Ink Bold = Up to 50,000. Spend $5,000 in the first three months and you’ll get a 50,000 Ultimate Rewards points bonus.
Ink Plus = Up to 50,000. Spend $5,000 in the first three months and you’ll get a 50,000 Ultimate Rewards points bonus.
Earning Potential:
Ink Bold = 1 point per dollar on regular spending. 5 points per dollar on spending in the following categories: cable, internet, and phone services. 2 points per dollar spent on gasoline and hotels.
Ink Plus = 1 point per dollar on regular spending. 5 points per dollar on spending in the following categories: cable, internet, and phone services. 2 points per dollar spent on gasoline and hotels.
Annual Fee:
Ink Bold = first year free and then $95 per year.
Ink Plus = first year free and then $95 per year.
Other:
Ink Bold = no foreign currency exchange fee. Two complimentary lounge accesses per year (through the Lounge Club).
Ink Plus = no foreign currency exchange fee. Two complimentary lounge accesses per year (through the Lounge Club).
What is the difference between Ink Bold and Ink Plus?
The Ink Bold is a charge card.
A charge card does not allow you to carry a revolving balance. Each month the full payment is due.
If you don’t make a payment, you’ll be penalized or the account will be closed.
The Ink Plus is a credit card.
This means that you can carry a revolving balance. You can make minimum payments instead of paying the balance in full.
From a business standpoint, there might be advantages to each of the cards.
If you have a month with some very high expenses, then the charge card would be ideal, as you’re not limited by a credit limit. However, if you’re just starting up a business and need a few months to generate the revenue to cover the credit card bills, the credit card might seem like a better option.
Aside from the travel talk here, let me do a little personal finance talk. If you can’t afford to pay your monthly payment on a credit card, you should be looking at a different business plan. I build my business on a cash only basis. If I didn’t have the money to do something, I didn’t borrow it. I waited. I suggest the same to you.
As you can see, both cards have very similar offerings (especially if you pay off your balance every month).
The benefit is that when an Ink Bold annual fee comes due, a person could switch over to the Ink Plus.
Advantages of Transitioning from Ink Bold to Ink Plus (or Visa Versa)
- Keep your Ultimate Rewards active. If you were to cancel a credit card where you had Ultimate Rewards points, you would lose all those points. However, by switching from Bold to Plus (or visa versa), you keep the points active.
- Get another year without an annual fee. Both cards have no annual fee for the first year. By switching, you can take advantage of the first year free on both cards.
- The opportunity to get 50,000 more Ultimate Rewards points. If you switch over cards and spend $5,000 in the first three months you’ll get the points.
- Two free lounge access opportunities.
This will be my strategy when my Ink Bold annual fee comes due next year. If you don’t have either card, you can just flip a coin since the benefits are very similar.
To apply for the Ink Bold, you can use my affiliate link – click here.
To apply for the Ink Plus, you can use my affiliate link – click here.
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About Craig Ford
Are UR points transferable to Freedom or Sapphire cards?
Andrew,
UR are the points you earn with the Freedom and Sapphire cards.
Are you hearing the same “insiders talk” that Ink plus is reducing the minimum spend to $5000 in 3 months? It has piqued my interest but I can’t find a place to get a good screen shot of this offering.
Kurtis,
That was a very limited time unintentional offer (a few hours). I don’t think Chase wanted the offer out there so they shut it down very quickly. As far as I know there are no longer links with the $5,000 minimum spend.