2021.12 Update: This is a new card, and currently only available in branch. It’s said that online application will be ready in early 2022. Here‘s the link to a introduction page (not an application link). H/T: reddit, TPG.
- 100k offer: earn 100,000 Ultimate Rewards (UR) points after spending $10,000 within the first 3 months of card membership.
- We estimate that Ultimate Rewards (UR) points are worth about 1.6 cents/point, see below for a brief introduction. So the 100k highest sign-up bonus could be worth about $1,600!
- Earn 2.5x UR points on purchases of $5,000 or more. Earn 5x UR points on travels via UR portal.
- Earn unlimited 2x UR per $1 spent on all other purchases.
- Primary car rental insurance. HOWEVER, unless you can prove that you are traveling on business (which you will be required to do in the case of a claim), you will be better using the primary car rental insurance on the Chase Sapphire Preferred or the Chase Sapphire Reserve.
- Cell phone protection. Details not clear yet.
- This is a charge card, which means there is no pre-set credit limit but you need to pay in full every month.
- Refer a friend: You can earn 20,000 bonus UR points for every approved account you refer, up to a maximum of 100,000 UR points per calendar year.
- No foreign transaction fee.
- Annual fee of $195, NOT waived for the first year.
- You can’t transfer UR points to partners with this card, so you need other cards like CSP or Ink Preferred to make the transfers.
Introduction to UR Points
- You can earn UR points with Chase Freedom Student, Chase Freedom, Chase Freedom Unlimited (CFU), Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), Chase Ink Cash (Business), Chase Ink Unlimited (Business), Chase Ink Preferred (Business), etc.
- You can move your UR points from one UR card to another at any time.
- UR points never expire. You will lose the UR points on one card if you close the account, but you can prevent losing your UR points by moving the points to another UR card beforehand.
- If you have Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), or Chase Ink Preferred (Business), UR points can be transferred to some hotel points. One of the best way to use UR points is to 1:1 transfer to Hyatt points. UR points can also be transferred to some airline miles. One of the most common and best way to use UR points is to 1:1 transfer them to United Airlines (UA) miles (Star Alliance), and combine them with the UA miles earned from the UA card. Other good options are: Southwest (WN) (Non-alliance), British Airways (BA) (Oneworld), Virgin Atlantic (VS) (Non-alliance), etc. If you use UR points in this way, the value is about 1.6 cents/point.
- If you have Chase Sapphire Reserve (CSR), you can redeem your UR points at a fixed rate 1.5 cents/point towards air tickets or hotels on UR travel portal; if you have Chase Sapphire Preferred (CSP) or Chase Ink Preferred (Business), you can redeem your UR at a fixed rate 1.25 cents/point towards air tickets or hotels on UR travel portal.
- If you have any of the UR cards, you can redeem your UR points at a fixed rate 1 cent/point towards cash.
- In summary, we estimate that UR points are worth about 1.6 cents/point.
- For more information about UR points, see Maximize the Credit Card Points Values (overview), and Introduction to UR: How to Earn and Introduction to UR: How to Use (very detailed).
Recommended Application Time
- [5/24 Rule] If you have 5 or more new accounts opened in the past 24 months, Chase will not approve your application on this card, no matter how high your credit score is. The number of new accounts includes all credit card accounts, not only Chase accounts. See this post for details about how to possibly bypass this rule.
You are not eligible for this sign-up bonus if you received a sign-up bonus on this card within 24 months. Note that what this 24-month clock starts from when you last got the sign-up bonus, not the time you open the account or close the account.[Correction] There is no such rule for Chase Ink series!
- Don’t apply for more than 1 Chase business credit cards within 30 days, it’s highly likely that you will get rejected.
- We recommend that you apply for this card after you have had a credit history for more than a year.
The sign-up bonus is very generous, so it is definitely worth applying if under 5/24. The 2x UR points on everything and 2.5x UR points on purchases of $5k or more earning ability is very strong, and the cost is an expensive annual fee of $195 compared to the no annual fee cards CFU/Ink Unlimited with 1.5x UR earning ability. So this card is suitable for those who can easily spend at least $40k a year.
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