Chase is launching a new business card later this year, called the “Chase Ink Business Preferred,” according to Bloomberg. The new card will offer 3 points per dollar spent on travel, telecommunications, shipping, and advertising (on social-media and search engines). There is cap for the bonus, which will only apply to the first $150,000 of spending each year. All other categories will earn 1 point per dollar. There is no mention of a multiplier for office supply stores.
The article also reports that the new card will come with a 80,000-point sign-up bonus, when you spend $5,000 within the first three months of account opening. The annual fee is $95 for card, which will be waived for the first year.
At first glance, this almost looks a little like a “business” version of the Chase Sapphire Reserve (CSR) card, minus the benefits. The CSR card offers 3x on travel and dining, but comes with a higher annual fee to cover a slew of travel perks. The “Chase Ink Business Preferred” card eschews the dining multiplier in favor of categories that might be more popular with business owners. In comparison, neither current Ink products offer across-the-board travel multipliers. All of these cards of course have very different audiences, but it does look like Chase might be trying to maintain relatively consistent multipliers, and max out earnings at 3x (with the exception for Freedom, which has a low bonus cap).
We have heard rumors about Chase dropping the 5x multiplier at office supply stores with their current Ink Plus and Ink Cash offerings. These two cards currently offer 5x on office supply stores, cell phone, landline, internet, and cable TV bills, as well as 2x on restaurants (Ink Cash) or hotels (Ink Bold). It remains to be seen whether those cards will go away in favor of this new one, or if this new card will simply add to the current portfolio. However, with the new card being so similar to the current offerings, I think there’s a good chance we will see the Ink Plus and Ink Cash go away.
You can check out more Business Cards here.
(HT Teddy125 on Reddit)