Chase sent out a memo announcing that it will start streamlining old Ink business cards in early 2018 and likely convert grandfathered cards into one on the products currently available from Chase. Doctor of Credit reports the memo was sent out to bankers in the last few days and letters will be sent to cardholders this week to explain the upcoming changes. Those who still have a Mastercard Ink, Ink Classic Visa or Ink Bold Visa credit card should expect one of these notices in the mail.
Upcoming Changes to Old Chase Ink Cards
- All Mastercard Ink card will be replaced with Visa-branded cards
- Customers will receive new Visa cards in February 2018.
- Existing Mastercard will remain active until April 30th 2018.
- Account number, expiration date and CVV will change
- Grandfathered Ink products, including Ink Classic and Ink Bold, will be converted to current Ink programs
- Customers will receive new cards in February 2018
- Account number will not change
- Cards will have new expiration dates, CVV and rewards earning structure
We still do not know all the details of these changes, but it makes sense for Chase to streamline its credit card offering and also switch all Ink cards to just one issuer, Visa.
The major downside with this memo and the expected changes that will follow, is the demise of the Mastercard Ink cards. These cards are still earning 5X on several gift card sellers, even after Ink Visa cards stopped doing so. I doubt this will continue once new cards are issued.
The Ink Classic and Ink Bold credit cards will be converted to current Ink programs, which most likely will be the Ink Cash and Ink Plus credit cards. Ink Preferred is also an option, but I would hate for my Ink Bold to lose its 5X categories.
Ink Plus cards don’t seem to be affected by these changes, based on the limited info provided by this memo.
Let me know what you think and if you’ll be affected by these changes.
Update 2: Chase Ink Bold is no longer getting 5X on PPDG and CardCash purchases either. So the only hope for those merchants in the old Bold MC.
Update: Gyft purchases are still earning 5X as of 10/18/17.
Some stunning news started emerging today. Data points for some purchases on October 17th and 18th, are showing that Cash Ink Plus and Chase Ink Cash cards are no longer earning 5X Ultimate Rewards for PPDG and CardCash purchases. These are two of the main sources for discounted gift cards and also opportunities for gift card resellers to make a profit or earn free Ultimate Rewards, so this is sure some very bad news.
It’s not clear yet what cards are affected and which gift card sellers are no longer earning 5X UR points. What we know so far is that this applies to Chase Ink Plus, Chase Ink Cash and Chase Ink Preferred. You won’t earn extra Ultimate Rewards at PPDG and CardCash.
One hope is that we might still have an opportunity to earn 5X with the old Chase Ink Bold cards. I have one still, but I don’t have any recent purchases for data points. We also don’t know if this affects other resellers such as Gyft, Swych, and Giftcardmart which also have been earning 5X Ultimate Rewards with Ink Plus/CashBold cards.
Something similar happened with CardCash a while back and then they started earning 5X again. Let’s hope this is something similar, although it doesn’t seem so as it’s more widespread.
Let us know if you have any data points in the last few days.
Chase is targeting Ink card holders with a 25% bonus of UR points, if their anniversary is coming up. For a 5x purchase for example, besides the usual +1 points and +4 bonus points, there’s also a 25% bonus on all purchases that is applied to the total of Ultimate Rewards earned for that purchase. So those targeted would effectively earn 6 UR points per dollar at Staples or PPDG on eBay.
The bonus is being applied to July purchases and it looks to be targeted for those who have their anniversary in July. Although there’s very data points so far. I checked my cards and I don’t have a bonus, and I didnt have anything three months ago either, on the anniversary of my Ink Plus card.
Check you Ultimate Rewards activity and see if you have the 25% bonus. Apparently Chase is not sending any emails out so far, to notify those who were targeted.
HT: milesfortwo for the info and the photo
Chase has come out with two promos that are not really that great but still have some value, especially for those shopping at stores included in the promo.
$15 statement credit with Chase Sapphire/Chase Sapphire Preferred card and Visa Checkout
Visa Checkout offers a $15 statement credit by using Chase Sapphire® card or Chase Sapphire Preferred® card with Visa Checkout. Good until 9/30/2015. The offer is available at Staples, Newegg, Gap, Pizza Hut, Neiman Marcus, Williams Sonoma, Gymboree, Orbitz, Zulily, Fandango, Virgin America, Under Armour. Continue reading
Chase has brought back their Chase Ink Plus offer where you will receive 60,000 Ultimate Reward points after you spend $5,000 in 3 months from account opening. That’s $750 towards travel when you redeem through Chase Ultimate Rewards. This offer is 10K more than the usual 50K sign up bonus but not the heighets offered on the card. The offer is valid till May 24th.
The card comes with a $95 annual fee when you apply online, but it is waived for the first year if you apply in branch. Continue reading