Chase Ink Preferred – 100k bonus but not worth it

Chase Ink Preferred is now giving a 100,000 chase ultimate reward (UR) bonus on $15,000 spend in 3 months.

The prior offer was 80k UR points on $5k spend in 3 months.

This is actually a drop in the offer.

Typical bonuses are around 50k Chase Ultimate Reward points for 3k spend (see Chase Ink Cash, Chase Ink Unlimited for comparisons). The return at $0.01/UR is roughly 16% as bonus (on top of 1-5% normal from spend).

The extra 10k spend for 20k UR points… that’s a 2% bonus vs the 16% bonus previously. Of course on top of the base of 1%-3%, which varies from 1-5% for CIC.
So let’s exclude base since it’s variable. The base for Chase Ink Preferred credit card is better than for Chase Ink Unlimited but worse than Chase Ink Cash so that’s also why we’re excluding it from comparison. We’re comparing a 16% return (typical for most credit card signup bonuses) to 2% return on signup spend.
If you value at $0.02/point, that doesn’t change the math relativity… that’s just 32% return vs 4% return, still a factor of 8X.

TLDR; don’t get the Chase Ink Preferred at this time. Get Chase Ink Cash or the Chase Ink Unlimited.

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