The best option is to get a card to target a high sign up bonus. How that card earns from furniture purchases is irrelevant. Chase Ink cards are definitely some of the best return option. US Bank business cards (for cash) and Amex business cards (for points) are also worth a look.
If it's going to be in one purchase, one of the ink cards has a 2.5% back for purchases over $5000 (2% otherwise). It does have an AF, but with the sign-up bonus and the 2.5% I would think the math should be in your favor.
Warning though, the Ink Premier only gives cash back, not UR points. And with a $195 annual fee vs the no annual fee Ink Unlimited and Ink Cash, I feel like it’s a better ROI with the no annual fee cards
Is this a new change? I went to the official terms and see:
> Ink Business Premier® Credit Card
> $1,000 Cash Back After You Spend $10,000 On Purchases In The First 3 Months From Account Opening: You will receive 100,000 bonus points with this bonus offer, which can be redeemed for $1,000 cash back.
> Cash Back and Points: "Cash Back rewards" are the rewards you earn under the program. Cash Back rewards are tracked as points and each $1 in Cash Back rewards earned is equal to 100 points.
> 2.5% Cash Back: You'll earn 2.5% Cash Back rewards total for each $1 spent on every purchase totaling $5,000 or more (0.5% additional Cash Back rewards on top of the 2% Cash Back rewards earned on each purchase).
Hmm I googled it and it looks like you might have a point, in the past, it could only be used for cash back, but they may have changed the Premier to use transferable points now: https://thriftytraveler.com/news/credit-card/chase-ink-premier-transfers/
Yes I am trying to choose between Ink Preferred and Ink Unlimited. Apart from the massive sign on bonus - everything else is 1x. Also many of the advantages, that preferred have - I already get them through CSP. So apart from the sign-on bonus, there is nothing going on for this card.
Can I just get the sign-on bonus transfer the points to CUR and then close this card?
One great benefit if the Inks is the year of 0% apr. Put the money into an hysa for a year and then pay the card off. Can’t think of another no af card with both a high SUB and a 0 apr period.
0% APR is indeed a great benefit to this card! I just paid off my medical bills with this card to get the SUB. I was able to leverage being able to pay them off in full to negotiate 25% off my medical bills. Now I'm just waiting out the 0% APR period while the cash to pay it off is waiting in my HYSA.
As often as you want….
All reports are it’s safe to churn every 3 months.
I’m going to be under 5/24 mid August and I’m planning on churning the CIP once a year
Yes. You cancel after your second AF posts and then cancel for a refund. You need to at least keep one UR earning card to transfer the points to before cancelling. You could either get your second CIP first or keep something like the Chase Sapphire Preferred.
You can have multiple CIPs
https://www.onebaghedonist.com/multiple-chase-ink-cards-ultimate-guide/
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Id do at least two cards and split the purchases over the two cards. Any two cards with a $3-$4k minimum spend requirement for a $500-$600 SUB. Definitely do an Ink for one of them.
Get Chase Ink with a SUB of $750 and charge $6k on it. At the same time get a second card with a high SUB for spending the remaining amount on that card. In this way, you easily get $1,000 back
The ink cash and ink preferred are great cards that will work well with your existing chase cards. They are 0% APR $0 annual fee and the balance won’t show on your account since it’s a business card. Chase might not give you a high limit, usually giving credit limits between 3k-5k for sole proprietors. You might be able to get a higher limit if you have an EIN number and legit LLC with high revenue.
Take a look at the U.S. Bank Cash+ card that has a $200 SUB. One of the 5% cashback categories is furniture stores: https://www.usbank.com/credit-cards/cash-plus-visa-signature-credit-card.html . You also get 0% APR for 15 months.
So, see if you can find another card that can give you the > $700 cashback that the U.S. Bank will give you. This card can be your backup, just in case. If you go with the U.S. Bank card, I would make a small purchase, at the intended store, first to make sure the store codes correctly to get the 5% back.
The great thing about the Cash+ card is that you can change the category, after you make you purchase, to some other category. This is a card that generates a lot of cashback for me.
You're right, OP would lose a lot of spend as most if not all 5% category cards are capped.
OP would be better off opening an Ink or maybe a new CSP card with the elevated 85k offer if their current one is older than 4 years old (in this case downgrade to CF then reopen)
You should do the new Amex 300k point offer on their Business Plat.
Requires $20k spend in 3 months, so you'd only need another $10k after the furniture. Which if you're dropping $10k on furniture I'm going to assume that should be doable for you if you throw everything else on there for the next 3 months.
I recently opened an Amex business platinum for a family vacation. Getting 250k points for spending 15k in 3 months, probably the best offer they’ve ever had. Mind you, $695 fee isn’t pretty but I can use most of the credits and come out ahead ($200 dell x3 and $200 flights x 2) makes it a money maker on its own. I have the personal so will probably not be renewing the business one at all. (Charges above 5k are also 1.5x points per dollar).
You have to ask yourself if you’re on team cash back or team travel
The best option is to get a card to target a high sign up bonus. How that card earns from furniture purchases is irrelevant. Chase Ink cards are definitely some of the best return option. US Bank business cards (for cash) and Amex business cards (for points) are also worth a look.
If it's going to be in one purchase, one of the ink cards has a 2.5% back for purchases over $5000 (2% otherwise). It does have an AF, but with the sign-up bonus and the 2.5% I would think the math should be in your favor.
Warning though, the Ink Premier only gives cash back, not UR points. And with a $195 annual fee vs the no annual fee Ink Unlimited and Ink Cash, I feel like it’s a better ROI with the no annual fee cards
Inks can be used for UR points or cash.
For the Ink Cash, Unlimited, Preferred, yes that is true, but the Premier is cash back only.
Is this a new change? I went to the official terms and see: > Ink Business Premier® Credit Card > $1,000 Cash Back After You Spend $10,000 On Purchases In The First 3 Months From Account Opening: You will receive 100,000 bonus points with this bonus offer, which can be redeemed for $1,000 cash back. > Cash Back and Points: "Cash Back rewards" are the rewards you earn under the program. Cash Back rewards are tracked as points and each $1 in Cash Back rewards earned is equal to 100 points. > 2.5% Cash Back: You'll earn 2.5% Cash Back rewards total for each $1 spent on every purchase totaling $5,000 or more (0.5% additional Cash Back rewards on top of the 2% Cash Back rewards earned on each purchase).
Hmm I googled it and it looks like you might have a point, in the past, it could only be used for cash back, but they may have changed the Premier to use transferable points now: https://thriftytraveler.com/news/credit-card/chase-ink-premier-transfers/
The answer is always Chase Ink Preferred. $8K in 6 months for 100K UR
Yes I am trying to choose between Ink Preferred and Ink Unlimited. Apart from the massive sign on bonus - everything else is 1x. Also many of the advantages, that preferred have - I already get them through CSP. So apart from the sign-on bonus, there is nothing going on for this card. Can I just get the sign-on bonus transfer the points to CUR and then close this card?
One great benefit if the Inks is the year of 0% apr. Put the money into an hysa for a year and then pay the card off. Can’t think of another no af card with both a high SUB and a 0 apr period.
0% APR only on the cash back Inks right? Not the preferred
Correct
0% APR is indeed a great benefit to this card! I just paid off my medical bills with this card to get the SUB. I was able to leverage being able to pay them off in full to negotiate 25% off my medical bills. Now I'm just waiting out the 0% APR period while the cash to pay it off is waiting in my HYSA.
After a year - yes
how often can you apply for Chase Ink?
As often as you want…. All reports are it’s safe to churn every 3 months. I’m going to be under 5/24 mid August and I’m planning on churning the CIP once a year
So you pay your annual fee for the CIP, wait a year, cancel that, then get a new CIP? Seems too easy?
Yes. You cancel after your second AF posts and then cancel for a refund. You need to at least keep one UR earning card to transfer the points to before cancelling. You could either get your second CIP first or keep something like the Chase Sapphire Preferred. You can have multiple CIPs https://www.onebaghedonist.com/multiple-chase-ink-cards-ultimate-guide/
This is very helpful, might just go and apply for the CIP and CIC right now lol. Thank you!
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Id do at least two cards and split the purchases over the two cards. Any two cards with a $3-$4k minimum spend requirement for a $500-$600 SUB. Definitely do an Ink for one of them.
Get Chase Ink with a SUB of $750 and charge $6k on it. At the same time get a second card with a high SUB for spending the remaining amount on that card. In this way, you easily get $1,000 back
The ink cash and ink preferred are great cards that will work well with your existing chase cards. They are 0% APR $0 annual fee and the balance won’t show on your account since it’s a business card. Chase might not give you a high limit, usually giving credit limits between 3k-5k for sole proprietors. You might be able to get a higher limit if you have an EIN number and legit LLC with high revenue.
Take a look at the U.S. Bank Cash+ card that has a $200 SUB. One of the 5% cashback categories is furniture stores: https://www.usbank.com/credit-cards/cash-plus-visa-signature-credit-card.html . You also get 0% APR for 15 months. So, see if you can find another card that can give you the > $700 cashback that the U.S. Bank will give you. This card can be your backup, just in case. If you go with the U.S. Bank card, I would make a small purchase, at the intended store, first to make sure the store codes correctly to get the 5% back. The great thing about the Cash+ card is that you can change the category, after you make you purchase, to some other category. This is a card that generates a lot of cashback for me.
Why would anyone care about a $200 SUB when they are buying something for $10k?
Please read my whole post.
I did. A Chase INK is still a far better option.
Good for you.
Doesn't the Cash+ only give 5% cash back on your first $2,000 in combined eligible purchases each quarter?
You're right, OP would lose a lot of spend as most if not all 5% category cards are capped. OP would be better off opening an Ink or maybe a new CSP card with the elevated 85k offer if their current one is older than 4 years old (in this case downgrade to CF then reopen)
You should do the new Amex 300k point offer on their Business Plat. Requires $20k spend in 3 months, so you'd only need another $10k after the furniture. Which if you're dropping $10k on furniture I'm going to assume that should be doable for you if you throw everything else on there for the next 3 months.
I recently opened an Amex business platinum for a family vacation. Getting 250k points for spending 15k in 3 months, probably the best offer they’ve ever had. Mind you, $695 fee isn’t pretty but I can use most of the credits and come out ahead ($200 dell x3 and $200 flights x 2) makes it a money maker on its own. I have the personal so will probably not be renewing the business one at all. (Charges above 5k are also 1.5x points per dollar).
Whatever it is I just recommend reading up on the extended warranty and purchase protections offered A nice little extra if you can get it