Best Way to Earn Points: Highlight – Chase Ink Plus

Posted on May 31, 2013 by in Travel Deals

Disclaimer: The following is not linked to any affiliate credit. Just merely a way to point out key points in your point earning options.

A common question always asked is "What is the best way to earn a bank of miles and points?" The most commonly cited answer is credit card signup bonuses. This FlyerTalk thread keeps track of the best current offers.

Here I'll discuss the highly touted Chase Ink Plus.

Why? Between the high sign-up offers, the ability to earn points faster by shopping within the certain designated bonus categories and through the Ultimate Rewards Shopping Portal, and its ease of redemption, it's no surprise many consider it a go-to card.

The Chase Ink Plus is a business credit card. And no, you don't have to have a business to apply for one.

The current offer found in the thread mentioned above includes:

– Earn 50,000 bonus points after spending $5,000 within the first 3 months of opening your account.
– Earn 5x points per $1 spent on the first $50,000 spent annually at office supply store and cell phone, landline, cable tv and internet services.
– Earn 2x points per $1 spent on the first $50,000 spent annually at gas stations and hotel accommodations when purchased directly with the hotel.
– Earn 1x point per $1 on all other purchases without limits.
– Points don't expire
– 20% off travel purchases when redeeming through Chase Ultimate Rewards
– No Foreign Transaction Fees
– $0 introductory annual fee for the first year, then $95 thereafter

Other Cardmember benefits include

– Purchase protection for up to 90 days from purchase date. Repair, replacement or reimbursement for theft or other types of accidental damage.
– Extended warranty for purchases with an original manufacturer's warranty of 3 years or less will automatically be extended up to one full additional year for free.
– Up to $500,000 travel accident insurance for accidental death or dismemberment during eligible common-carrier travel that is paid using the credit card.
– Auto collision damage waiver for car rentals due to collision or theft.
– Free cards for employees at no additional cost.
– Premium customer service 24/7

Best way to utilize the card for maximum points accrual?

Purchase gift cards from office supply stores for 5x points and/or click through the Chase Ultimate Rewards Shopping Mall for even more bonus points using your Chase credit card or purchased gift cards.

What can you do with Ultimate Rewards points?

– Redeem for statement credit or gift cards
Using this method yields a value of 1 cent per 1 point.

– Redeem for travel through Ultimate Rewards
20% off of airfare, hotels, car rentals, and cruises.

– Transfer points to hotel and airline partners (United, Southwest Airlines, Korean Air, Marriott, Hyatt, Priority Club, Ritz Carlton, Virgin Atlantic, Amtrak). You can extract the most value from your points by directly transferring to partners.

Here are some examples.

50,000 United Mileage Plus miles for a one-way business class ticket from North America to Europe. A BOS to ZRH one-way in Swiss Biz class retails for $6,204 on August 12. Transferring your UR points to UA extracts 12.4 cents per mile in this case.

60,000 UA miles will get you a one-way ticket to Asia. For example, EWR-NRT-SIN one-way runs for $6,526. Using your miles extracts a value of 10.9 cents per mile.

44,000 Hyatt Gold points for 2 nights at a Hyatt Category 6 hotel like the Park Hyatt Sydney or Park Hyatt Tokyo. Rooms at the Park Hyatt Sydney average $833 USD per night. Using Hyatt points transferred from your UR account would yield a value of 3.8 cents per point in this case.

Use British Airways Avios for routes like Dusseldorf to Miami, where business class fares average $1,900 one-way. Using 50,000 Avios yields a value of almost 4 cents.

Avios can also be used for the Miami to Lima route on LAN or American Airlines, where round-trip business class fares average ~$5,000. Using 50,000 Avios round-trip yields a value of 10 cents per mile and no fuel surcharges are due.

62,500 Korean Air miles can grab you a Prestige Sleeper seat from LAX to ICN. The same fares were at least $2,925 one-way Business class. Transferring your UR points to Korean Air, in this case, extracts a value of 4.7 cents per mile.

On that note, happy points scavenging!