Credit Cards

The CIP AKA The Best Credit Card

The Best Credit Card

I promote a lot of credit cards, but no card beats the Chase Ink Business Preferred in terms of sign up bonus and bonus categories. There may be other cards such as the personal American Express Platinum that occasionally has 100k MR sign up bonuses, but the ink comes close to that with an 80k UR sign up bonus for a $5k spend in 115 days while only charging a $95 annual fee. If the $5k sounds like a lot to you, don't worry, I'll show you an easy way to hit it.

Most people hate annual fees, check out my post on AFs if this is you, but  with a 80k UR sign up bonus, the annual fee should be easily overlooked. Aside from the amazing bonus, there are some pretty good perks to this card as well so let's dive right in!

To start, let's look at 80k UR. If you redeemed this for a statement credit, you would receive a value of 800$ from the bonus and after paying the annual fee, that leaves you with $705. Definitely a good amount of money and this is the absolute minimum value you can get from this card. I value UR points at a minimum of 1.5 CPP. You can also use the UR to book travel through the Chase Travel portal so you can get a 1.25 CPP making the value of 80k UR $1,000. I will create a guide on using UR eventually, but for now just know that they are phenomenal points to have.

Benefits and Bonus Categories

The next thing to look at would be the bonus categories. This card gets 3x points for the following spending:

  • Travel (This could be anything from plane tickets to hotels to parking, etc.)
  • Shipping (Probably not relevant)
  • Internet, cable, and phone services (More on this later on)
  • Advertising purchases (Also probably not relevant)

Aside from the 3x points, this card also provides the following benefits when used for certain purchases:

  • Cell Phone Protection
    • This pairs well with the 3x category of phone bills. If you pay your phone bill using this card (and get 3x UR) you will also get phone insurance that covers lost and damaged phones up to a value of $600.
  • Trip Delay/Cancellation Insurance
    • $500 reimbursement per ticket if delayed or canceled more than 12 hours. If there is a bad storm this can save you hotel and food costs.
  •  Price Protection
    • Use the app Earny to track Amazon purchases and it will cut you a check for the difference if the price of an item drops after you buy it and within 90 days.

So, as you can see, both the bonus and the benefits of the Chase Ink Business Preferred Card make the AF seem so trivial. Now that you understand how amazing this card is, let me talk you through applying and getting past that $5k minimum spend requirement.

Guide 1

Submitting an Application

If you end up getting to the application page, the image above is the first thing you'll see. Many of you will be confused because this is a business card and you are used to applying for personal cards, but worry not. It is very easy to apply for business cards and most people actually have a "business" without even realizing it.

Have you ever sold anything on craigslist? Ebay? Have you ever sold anything directly to a friend? Well if you answered yes to any of the above then technically you have a resale business. Maybe you intend on selling another thing this year, and so you could put Annual Business Revenue/Sales as $2k. This number does not need to reflect legitimate sales. It could be an estimate or even just a goal. I typically stick to about $2k when applying for business cards.

After you figure out your business, whether you sell things or book all of the travel for you family, the next thing you will be wondering about is the Tax Identification Number and the Type of Business. For this, you will wanna go with Sole Proprietor for the business type and you would use your SSN for the Tax ID.

A sole proprietorship is a business owned and operated you. Therefore, your tax ID is just the ID you use when filing your personal taxes, your SSN.

For years in business, I would recommend putting 2 years. Once again, this can include time that you even just thought about your business.

The rest of the info in the application is pretty standard. It will eventually ask you for your SSN again, your address, and your gross annual income. Answer all of these truthfully and remember to consider all sources of income. In a joint income home you can include your SO's take home pay and as a child you can include money that your parents provide you.

Once this is all done, you will probably get a message saying that the application has been received and you need to wait 30 days to hear back. This is typical because the CIP is a business card and they take a little more time to approve than personal. If you end up getting denied, no worries, maybe build more credit and try again another time. If you are approved, take a look at an unbelievably easy way to hit the MSR.



I bet you're confused as to why Venmo is the easy way to hit MSR, because if you use the app, then you know that credit cards charge a 3% fee to use. The CIP is a wonderful card because when you use it on Venmo, it actually gets you 3x UR. This means that if you charge the entirety of the $5k to Venmo, it would cost you $150 while at the same time, earning you 15k UR. This 15k UR can be redeemed for a statement credit of $150 which completely covers the fee! Woooo!

All you need to do to make this work is the following:

  1. Use a venmo account that has a long age and been used at least a few times.
  2. Transfer money to a trusted individual with a checkbook. It needs to be less that $2,999.99 in one week due to Venmo rules. I stick to $2,500 to be safe.
  3. Caption it as something like Food!! or Rent 🙁 and use emojis
  4. Have the trusted individual write you a check for the money you sent them.
  5. Cash the check into your bank account and pay off your credit card.
  6. Use the UR earned on the purchase to wipeout the fee.

If you follow those guidelines then you will hit the spend in no time.

Well, I hope this guide helped and it showed you how amazing of a card the Chase Ink Business Preferred is. As usual, if you have any questions please let me know and I will be more than glad to help! Happy Churning.

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