topic Re: Chase Ink Bold and the UR Points Churn Begins in Business Credit

Chase Ink Bold and the UR Points Churn Begins

djrez4 — Tue, 06 Nov 2012 21:03:47 GMT

I'm terrible at Gardening. I applied for a Chase Ink! Bold today for the 50,000 bonus UR points. With both EQ and EX frozen, they pulled TU, which is my best looking report, and approved a $5k flexible limit.

The reason I applied for the card was twofold - I wanted the bonus and the ability to earn major points using the Vanilla Reload/Amex Bluebird (hereinafter V/B) combo for an upcoming trip to Europe; and, I wanted to keep business expenses separated from personal. The bonus categories are very complementary to my other cards. Airport lounge access is a nice perk.

But the V/B combo is killer. I can now get 5x points for paying rent and utilities where I couldn't before. That alone is an extra 6000 points a month - 72,000 a year - for money I'm already spending.

I'm thinking keep it for a year, PC to the Classic before the fee hits, and apply for the Plus for a new bonus.

EDIT: I've been informed that you can't PC a Bold because it's a charge card. Oh well.

Re: Chase Ink Bold and the UR Points Churn Begins

DesertLife — Wed, 07 Nov 2012 02:13:04 GMT

djrez4 wrote:

Vanilla Reload/Amex Bluebird (hereinafter V/B) combo....... Airport lounge access is a nice perk.

But the V/B combo is killer. I can now get 5x points for paying rent and utilities where I couldn't before. That alone is an extra 6000 points a month - 72,000 a year - for money I'm already spending.

Congrats! I app'd for one today too and was approved! I had forgot about the Lounge Club perk which is nice, but unfortunately for me I don't have any layovers coming up in the airports that club services! They serve 16 major airports: Anchorage, Baltimore, Boston, Chicago, Dallas, Honolulu, Las Vegas, Los Angeles, Miami, JFK (NYC), Orlando, Portland, Raleigh, San Francisco, Seattle, and Dulles (DC). Good luck with the V/B combo!!

Re: Chase Ink Bold and the UR Points Churn Begins

DesertLife — Wed, 14 Nov 2012 00:55:07 GMT

Sorry to say it sounds as though the V/B combo is now dead for 5x points. But, you can still meet your spend requirements using the V/B method if you can find stores that will sell the Vanilla reload to you using your Ink (as opposed to some that will only allow gift cards to be purchased with debit).

Re: Chase Ink Bold and the UR Points Churn Begins

djrez4 — Wed, 14 Nov 2012 01:34:08 GMT

Yeah. I read FT, too. There are other ways. If I may speak in FT code for one moment - Beans may be dead at OD, but there is a different crop growing at the store that feeds Milton's Swingline.

Re: Chase Ink Bold and the UR Points Churn Begins

Cadillac-XTS — Wed, 14 Nov 2012 01:37:12 GMT

Congrats

Re: Chase Ink Bold and the UR Points Churn Begins

youngman1234 — Wed, 14 Nov 2012 13:38:31 GMT

I love the bold card it is the best product offered by chase. The only problem I have is they keep shutting off my account or lowering the line. When I was first approved in August I got a spend line of 15k, I used the entire amount the first month. The closed the account like 28 days later. I only realized it was closed cus the next day I went to the branch and made a payment to pay the balance in full even though there was no payment due. I called in and the rep was like payment was received and account was closed. My business banker got it opened again so I wasn't too mad.

By oct I ran 30k through the card and paid it off, called in to lending and try raised it to 40k. 2 days before the hurricane I had a payment due for 17k, I made one payment one day before the due date for 20k and then one for 10k one day later. After the storm I called in and they lowered my limit to 8k I was like what !!!!! She was like we are afraid it is a high risk extending that much credit to you. I was like risk ?? Are u Crzy I just paid you 30k what the hell are you talking about !! Only 17k was due and I paid an extra 13k to free up the line. They got a manager on the phone and she apologized and said sorry and brought the line back up. So guys so far I'm still happy with them. I love the points, got 185,000 so far !!!

Re: Chase Ink Bold and the UR Points Churn Begins

djrez4 — Wed, 14 Nov 2012 17:03:33 GMT

youngman1234 wrote:
I love the bold card it is the best product offered by chase. The only problem I have is they keep shutting off my account or lowering the line. When I was first approved in August I got a spend line of 15k, I used the entire amount the first month. The closed the account like 28 days later. I only realized it was closed cus the next day I went to the branch and made a payment to pay the balance in full even though there was no payment due. I called in and the rep was like payment was received and account was closed. My business banker got it opened again so I wasn't too mad.

By oct I ran 30k through the card and paid it off, called in to lending and try raised it to 40k. 2 days before the hurricane I had a payment due for 17k, I made one payment one day before the due date for 20k and then one for 10k one day later. After the storm I called in and they lowered my limit to 8k I was like what !!!!! She was like we are afraid it is a high risk extending that much credit to you. I was like risk ?? Are u Crzy I just paid you 30k what the hell are you talking about !! Only 17k was due and I paid an extra 13k to free up the line. They got a manager on the phone and she apologized and said sorry and brought the line back up. So guys so far I'm still happy with them. I love the points, got 185,000 so far !!!

Yeah, I remember reading your Chase saga. The forum decided that Chase was entirely justified in considering your spending habits to be risky. You dove into credit with a thin file and charged up a large balance. Chase has no way of knowing what your busines cashflow is unless you submit tax returns or P&Ls to them.

My business has relatively low overhead. I don't plan on going nuts.

Re: Chase Ink Bold and the UR Points Churn Begins

youngman1234 — Wed, 14 Nov 2012 17:42:51 GMT

We are a retail garment business I would say 60% of our yearly sales will be done between nov/dec alone due to the holidays... They need to understand that part of it.... In the summer I have no need to charge around that much... But they should at least give me a chance to prove myself... I mean at least wait til the due to see what I do...lol

Re: Chase Ink Bold and the UR Points Churn Begins

djrez4 — Wed, 14 Nov 2012 17:52:47 GMT

I'm letting myself get off topic here, but you shouldn't be charging inventory on a credit card. If I was your card issuer, I'd shut you down in a heartbeat for that.

You need to develop business credit and get some net15 ot net30 accounts with your suppliers. Step one is to register with Dun and Bradstreet.

Re: Chase Ink Bold and the UR Points Churn Begins

youngman1234 — Thu, 15 Nov 2012 04:28:11 GMT

We are going off topic, but I have min net 90 with all my vendors with some I get net 180 to 1 year I have some invoices that are upwards 100k.... We pay them monthly so instead of writing 600-700 checks like we did before a year. We write only like 50 checks a year now. It is so easy to pay vendors with a credit card and just pay on bill a month rather than worry on tracking 600-700 checks.. And we get points for it. I'm not financing inventory I'm just paying regular monthly bills and getting points for it... I don't really see the risk.. Especially when I pay in full every month, don't have a single payment ever due( dont let balances report), if I push 400-450worth of spending this year which I'm sure I will reach the banks are making a lot of money off the processing fees. If I owed money and only make min payments and max out the lines I see the problem. But I'm not doing any of that ...

Re: Chase Ink Bold and the UR Points Churn Begins

navigatethis12 — Thu, 15 Nov 2012 13:57:20 GMT

djrez4 wrote:
you shouldn't be charging inventory on a credit card. If I was your card issuer, I'd shut you down in a heartbeat for that.

You need to develop business credit and get some net15 ot net30 accounts with your suppliers. Step one is to register with Dun and Bradstreet.

Business credit can take quite a while to establish, and no one wants to be the first. I use credit cards for all of the inventory I purchase and have not had any issues yet. With some margins being so thin, an extra 2% helps a lot. Having cards with no interest help a lot because I can charge and not have to worry about it for a year. If I didn't use cards, I would not have sold anywhere near as much as I have already.

Re: Chase Ink Bold and the UR Points Churn Begins

sccredit — Tue, 20 Nov 2012 00:12:41 GMT

youngman1234 wrote:
We are going off topic, but I have min net 90 with all my vendors with some I get net 180 to 1 year I have some invoices that are upwards 100k.... We pay them monthly so instead of writing 600-700 checks like we did before a year. We write only like 50 checks a year now. It is so easy to pay vendors with a credit card and just pay on bill a month rather than worry on tracking 600-700 checks.. And we get points for it. I'm not financing inventory I'm just paying regular monthly bills and getting points for it... I don't really see the risk.. Especially when I pay in full every month, don't have a single payment ever due( dont let balances report), if I push 400-450worth of spending this year which I'm sure I will reach the banks are making a lot of money off the processing fees. If I owed money and only make min payments and max out the lines I see the problem. But I'm not doing any of that ...

Have you thought about the Plum card? If you're just cycling inventory through it you could pick up 2 percent on your margin if you're an early payer.

Re: Chase Ink Bold and the UR Points Churn Begins

youngman1234 — Tue, 20 Nov 2012 14:37:34 GMT

I tried but the problem is I'm a no go with Amex.... Ever since they gave me a hard limit on my gold card, I'm not able to get approved for anything else...