Introduction to Chase Cards

(Happy Thanksgiving)

Chase has arguably the best ecosystem for credit card rewards.  Their Ultimate Rewards points are easy to earn, easy to redeem, and easy to transfer to great partners, particularly Hyatt.  

5/24 rule

Chase has a 5/24 rule that means they will not approve you for a credit card if you’ve opened 5 or more personal credit cards (of any bank) within the past 24 months.  Chase business cards do NOT count towards 5/24 and most business cards from other banks will not count as well.  However, you won’t be able to open a Chase Business card either if you are 5/24 or above.  Since Chase Ultimate Rewards points are highly coveted, it makes sense to get a few Chase cards and start with business cards.

2/30 Rule

You can get approved for a maximum of 2 Chase cards every 30 days.  If you apply to a third one, you’ll get rejected.  

Ultimate Rewards

Certain (not all) Chase cards offer Ultimate Rewards points (see list below).  Ultimate Rewards points are flexible points that can be redeemed for cash, transferred to airline partners, transferred to Hyatt, or redeemed for travel at 1.5 cent per point via the Chase travel portal with the Chase Sapphire Reserve.  Chase also offers a Pay Yourself Back option where you can redeem points at 1.5 cent per point for certain purchases with the Chase Sapphire Reserve.  Ultimate Reward points can be pooled together, meaning you can combine your personal and business rewards into one account to maximize the value.  The flexibility of the use of UR points is fantastic, and sometimes it’ll make more sense to transfer points to an airline partner or Hyatt, and other times it makes more sense to book straight from the Chase Travel Portal.

Personal Cards that earn UR

Chase Sapphire Reserve

    -Current Signup Bonus: 80,000 UR after spending $4,000 in 3 months

    -$550 Annual Fee

    -$300 annual travel credit

    -50% more value when UR points are used to book travel through the UR portal

    -5X on flights purchased via UR portal

    -3X UR on all travel/restaurant purchases

    -Free Priority Pass airport lounge access

    -Free Global Entry/TSA Precheck

Chase Sapphire Preferred

    -Current Signup Bonus: 60,000 UR after spending $4,000 in 3 months

    -$95 Annual Fee

    -$50 annual credit for hotels booked through the UR portal

    -25% more value when UR points are used to book travel through the UR portal

    -3X UR on restaurants, online groceries, and streaming

    -2X UR on travel

Chase Freedom Flex

    -No Annual Fee

    -5% on up to $1,500 of spend on rotating categories each quarter

    -5% on travel booked through the UR portal

    -3% UR on restaurants/drugstores

Chase Freedom Unlimited

    -5% on travel booked through the UR portal

    -3% UR on restaurants/drugstores

    -1.5% UR on all other purchases

Business Cards that earn UR

Chase Ink Business Preferred

    -Current Signup Bonus: 100,000 UR after spending $15,000 in 3 months

    -$95 Annual Fee

    -Earn 3X UR on first $150,000 (each year) spent on shipping, internet, cable, phone, advertising, and travel purchases

    -25% more value when UR points are used to book travel through the UR portal

Chase Ink Business Unlimited

    -No Annual Fee

    -Current Signup Bonus: 90,000 UR after spending $6,000 in 3 months

    -Earn 1.5X UR on all purchases

Chase Ink Business Cash

    --No Annual Fee

    -Current Signup Bonus: 90,000 UR after spending $6,000 in 3 months

    -Earn 5X UR on first $25,000 (each year) on office supply store purchases and internet, cable, and phone services 

    -Earn 2X UR on first $25,000 (each year) on gas stations and restaurants

I recommend starting with the Chase Ink Business Cash as it has a $0 annual fee.  This is a great long term hold with no fee, and the ability to easily MS the 5X category spend.  Per the post below, it’s easy to combine the Ink Cash with a couple other plays to earn 9%+ cash back on all purchases.

https://substack.com/inbox/post/86445819

What if I don’t have a business?

Have you sold anything on craigslist, Facebook marketplace, or did you do anything in exchange for money?  Congrats!  You have a sole proprietorship, and are eligible for business cards.  You can simply use your SSN for the EIN and your First/Last name for the name of the business.

For those that are not just looking to redeem points for cash and interested in good travel redemptions, I highly recommend looking to transfer UR points to Hyatt hotels as they are often a terrific value.  Below is a $1,500+ a night all inclusive hotel in Mexico for only 21,000 Hyatt points a night.  Chase UR transfer to Hyatt at 1:1, so this is an incredible value.

I currently have the below cards open:

    -Chase Amazon Prime card

    -2 Chase Freedom Flexes

    -Chase United Mileage Explorer

    -IHG

    -Chase Sapphire Reserve

    -Hyatt Personal

    -Hyatt Business

    -3 Chase Ink Cash cards

With this combination, I am able to cover my flights/hotels for the year and earn lots of cash back through everyday spend and manufactured spending.

I recently opened up the Hyatt Personal and Hyatt Business card, and will be doing a step by step guide that shows how I hit the minimum spend for each card as well as $15,000 on the personal card for a bonus free Hyatt night.  

Please feel free to ask any Chase questions in the comment section below.  As always Manufactured Spending questions will be covered in the Paid Substack. I’m signing off for the rest of the day to spend time with family, but will be back on tomorrow answering questions.  Happy Thanksgiving!

Disclaimer: None of this is to be deemed legal or financial advice of any kind.