How to Maximize Your Chase Ink Business Card Welcome Bonuses

Ink Business Cash® credit card

  • Awards

    Earn 5% cashback on the first $25,000 spent on combined purchases at office supply stores and Internet, cable, and phone services each account anniversary year (then 1%); 2% cashback on the first $25,000 spent on combined gas station and restaurant purchases per account anniversary year (then 1%); 1% cashback on all other purchases

  • Welcome Bonus

    Earn $900 Bonus Cash After You Spend $6,000 On Purchases In The First 3 Months Of Account Opening

  • Annual fee

  • Introduction APR

    0% for the first 12 months from account opening on purchases; N/A for balance transfers

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign Transaction Fee

  • Credit needed

Ink Business Unlimited® credit card

  • Awards

    Earn 1.5% cashback on every purchase you make for your business

  • Welcome Bonus

    Earn $900 Bonus Cash After You Spend $6,000 On Purchases In The First 3 Months Of Account Opening

  • Annual fee

  • Introduction APR

    0% for the first 12 months from account opening on purchases; N/A for balance transfers

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign Transaction Fee

  • Credit needed

Subscribe to the Select newsletter!

Our best selections in your inbox. Shopping tips that help you improve your life, delivered weekly. Sign up here.

How to turn your Chase “cash back” into transferable Chase Ultimate Rewards points

Before we dive in, it’s important to understand that although the Ink Business Cash® Credit Card and the Ink Business Unlimited® Credit Card are advertised as cash back cards, in fact they are not. In reality, the cards earn Chase Ultimate Rewards® points, which you can redeem for a cent each.

In other words, these cards come with a sign-up bonus of 90,000 Chase Ultimate Rewards points after you spend $6,000 on purchases within the first three months of opening your account. That’s an important distinction because, with a little effort, you can redeem Chase Ultimate Rewards points for exponentially more than 1 cent each on travel to airline tickets, hotel stays, and more.

The key to unlocking this potential is to also own the Chase Sapphire Preferred Card®, Chase Sapphire Reserve® or Ink Business Preferred® credit card.

Chase Sapphire Preferred® card

  • Awards

    $50 annual Ultimate Rewards Hotel Credit, 5 points on travel purchased through Chase Ultimate Rewards®, 3 points on meals, 2 points on all other travel purchases, and 1 point on all other purchases

  • Welcome Bonus

    Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months of opening an account. That’s $750 when you redeem through Chase Ultimate Rewards®.

  • Annual fee

  • Introduction APR

  • Regular APR

    18.99% – 25.99% variable on purchases and balance transfers

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign Transaction Fee

  • Credit needed

Chase Sapphire Reserve®

  • Awards

    Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 has been spent annually on travel purchases. Earn 3X points on other trips and restaurants and 1 point per $1 spent on all other purchases, plus 10X points on Lyft rides through March 2025

  • Welcome Bonus

    Earn 80,000 bonus points after spending $4,000 on purchases in the first 3 months of account opening

  • Annual fee

  • Introduction APR

  • Regular APR

  • Balance transfer fee

  • Foreign Transaction Fee

  • Credit needed

Ink Business Preferred® credit card

  • Awards

    Earn 3X points for $1 on the first $150,000 spent on combined purchases in select categories each account anniversary year (travel; shipping purchases; Internet, cable and phone services; and advertising purchases with social media sites and search engines research), 1 X point per $1 on all other purchases

  • Welcome Bonus

    Earn 100,000 bonus points after spending $15,000 on purchases in the first 3 months of account opening

  • Annual fee

  • Introduction APR

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign Transaction Fee

  • Credit needed

Up to $1,350 in value through the Chase Travel Portal

By themselves, Ultimate Rewards points are worth one cent each. However, depending on the annual paid Ultimate Rewards card you own, you’ll get up to 50% more value for your points when you redeem for airline tickets, hotel stays, rental cars, or cruises through the Chase Travel Portal:

So if you have the Chase Sapphire Preferred Card® or Ink Business Preferred® Credit Card, you’ll get up to $1,125 in travel from these 90,000 Ink Points bonuses. With the Chase Sapphire Reserve®, you’ll get up to $1,350 in value.

The Chase Travel Portal works similar to any other online travel agency, such as Expedia or Booking.com, and allows you to book almost any flight, hotel and/or rental car in the world. If you value simplicity and prefer an easy way to redeem your points, this is the way to go. Better yet, you can combine your payment method between points and cash in any amount. However, if you’re willing to strategize a bit, you can double or triple this, as you’ll see below.

Up to 12 one-way domestic economy flights within the United States

Chase has 14 airline and hotel partners that you can transfer your points with. Among them is the British Airways Executive Club.

This airline is a strategic Chase transfer partner for anyone with travel goals that include short hops operated by Oneworld alliance partners such as American Airlines or Alaska Airlines. If you’re visiting family in a couple of distant states for the holidays, or if you’re someone who likes to migrate south for the winter, British Airways Avios could be right up your alley.

For direct domestic coach flights, you will pay:

  • 7,500 points each way for flights under 650 miles (e.g. Atlanta to Miami)
  • 9,000 points each way for flights between 651 and 1,151 miles in length (e.g. New York to Orlando)

With a 90,000-point Ink Bonus, you can get nine to 12 one-way short-haul domestic flights.

A word of warning with these refunds: some domestic short-haul fares are extremely cheap. Before transferring your points to British Airways, check the cash price of your ticket. You can spend fewer points by simply booking your ticket through the Chase Travel Portal at a rate of 1.25 to 1.5 cents each.

Stay in luxury Hyatt hotel

Another popular Chase relocation partner is World of Hyatt. Participating properties cost between 3,500 and 45,000 points per night. That means you could conceivably squeeze up to 25 free nights out of a 90,000-point Ink bonus.

The most valuable use is a few nights in a luxury hotel, like the Park Hyatt Beaver Creek. Here you will pay between 25,000 and 35,000 points per night. Rates exceed $1,000 during ski season, giving you excellent value for your points.

For example, a three-night stay in early February 2023 costs 90,000 points total, with no taxes or fees. This same stay would cost a whopping $3,752 in cash. That’s a value of 4.1 cents per point, much higher than the 1 to 1.5 cent value you’d get from booking through the Chase Travel Portal.

Two return coach flights to Europe

Iberia is the flag carrier of Spain and its Iberia Plus loyalty program offers an incredibly cheap way to reach Europe: just 34,000 points return to Madrid from the following cities:

  • Boston
  • Chicago
  • New York (JFK)
  • Washington, DC (IAD)

That price is so low that it might be worth flying to one of these cities just to take advantage of the deal. With the 90,000 points you’ll earn from these limited-time Ink Business Cash® credit card or Ink Business Unlimited® credit card bonuses, you can book two return flights to Madrid and still have 22,000 points remaining.

Taxes and fees on these rewards can be around $200, but your extra points left over can help mitigate that fee.

$1,200+ in Southwest Flights

Southwest Rapid Rewards is another helpful transfer partner of Chase Ultimate Rewards. The airline serves a ton of fun destinations across the United States (including Hawaii), as well as the Caribbean, Mexico, and even Costa Rica.

Southwest points are generally worth about 1.4 cents each for Southwest airfare. That means you should get about $1,200 in airfare from a 90,000-point bonus.

The following Chicago to Honolulu itinerary costs just under 37,000 points round-trip. The exact same flights cost $527 in cash. You should have no problem getting at least two round trips from a Chase Ink Card welcome offer.

Photo courtesy of southwest.com

Up to $1,350 in statement credits through Pay Yourself Back

Chase’s Pay Yourself Back feature allows you to redeem your points and effectively “write off” eligible charges on your credit card account. You will get a higher value from your points using this method than if you redeem them for a direct refund. Below are the cards, their respective Pay Yourself Back categories and the value of points you will get by using this tool:

The 90,000-point Ink Business Cash and Unlimited bonus would give you a $990 credit against Internet, cable, phone service, and shipping costs with those cards, while the bonus would be worth $1,350 if you had Sapphire Reserve and redeemed your points to cover Airbnb or restaurant expenses.

$900 in cash

If that all sounds too complicated, you can simply redeem your points for cash at a rate of 1 cent each, giving you a $900 bounty for literally zero effort. You can request a check or direct deposit into your bank account, or you can choose to have your card credited. Then, you can increase the value of your money by putting it in a high-yield savings account or by investing it.

$900 in gift cards

In case you prefer gift cards to cash, you can redeem Chase Ultimate Rewards points for gift cards at a rate of one cent per point. Eligible merchants include:

  • Apple
  • Bath and body work
  • Chili’s
  • Chipotle
  • Door Dash
  • eBay
  • I split
  • Google Play
  • by Kohl
  • Xboxes

Redeeming points for gift cards is generally not the best option for a couple of reasons:

  • Cash is much more flexible than gift cards and does not expire. There is nothing a gift card can buy that money can’t buy.
  • When you redeem points for a gift card, you won’t earn any points for your spend. A better strategy would be to use your card to buy the gift card you want and then pay yourself back by redeeming the cash back.

One small exception is that you will occasionally have the opportunity to purchase gift cards with a 10% bonus, giving you 1.1 cents per point.

Bottom line

Editorial note: The opinions, analyses, reviews or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, approved or otherwise endorsed by any third party.

Leave a Reply

Your email address will not be published. Required fields are marked *