Chase Hints At Increased Cashout Rate On INK Preferred (1.25)

Chase just announced an easy cashout option for Sapphire Reserve/Preferred cards at 1.5/1.25 cents per point. An astute reader noticed that at the end of the press release, Chase adds:

Chase will introduce other cards that earn Ultimate Rewards points to the Pay Yourself Back feature over time.

This is unlikely to come to the Freedom cards since Chase won’t increase the cashout rate on a no-fee card above 1 cent per point. It must be referring to the INK Preferred business card, and perhaps the legacy INK Plus card.

So it seems likely that the INK Preferred card will get additional 1.25 cents cashout options without the need to book travel. These probably won’t be for grocery/dining, more likely that it’ll be for things like telecommunications or shipping or things of that sort.

Honestly, the 1.25 Preferred wasn’t even such big news, it was the 1.5 Reserve that was really interesting. But I thought it worth noting, nonetheless, that INK Preferred might join with other 1.25% cashout options.

 
    Chuck
  • On May 28, 2020, 11:28
Tags: chasechase ink preferred

View Comments (22)

  • omfg...I just cashed out 233k UR points last week and another like 300k a month or 2 ago. I'm salty.

    • Ok, I'm good now that I see/read that it's only via the pay yourself back feature. Couldn't cash out that many points with that feature anyway. I initially thought this was a straight cashout option. Can the article (and maybe even title) be more clear that this is using the pay yourself back feature? It implies (to me, at least) it's a straight cash back. The sapphire post was more clear and detailed that it's via that feature but not this one. I saw/read this post before seeing/reading the sapphire post and didn't realize it was only through pay yourself back until I read that post.

      Anyway, I have the CIU and CIP but not the Reserve or Preferred and never have had them, as I have been getting all the biz cards the last couple of years.

  • If I have a bunch of UR points I want to cash out, but haven't had the reserve yet, would it make sense to get the reserve and transfer all my UR points over to it and cash out? Is that allowed?

    • If you haven't yet had the reserve, and you have a bunch of UR points, I would apply for it like *immediately* and transfer the points over to it. They have been exploring changing or not allowing points transfers for a while, and there's no reason to risk it and wait.

      • thanks, it's just the annual fee is really obnoxious and I could always sell through a points broker, but I don't think they offer 1.5cpp

        • You get $300 in travel credit every year. This year, it's usable for groceries and gas.

  • Since one can move UR points from the Ink Preferred over to the Reserve, who would ever benefit of having 1.25 on the Ink Preferred since the 1.5 on the Reserve is higher?

    • I just downgraded my reserve last year. I’m waiting until December to qualify for the signup bonus again. I’ve got about 350k sitting around for a honeymoon that might not happen now and 1.25 on my ink preferred might not be a bad option.

      • but the 1.25 would only be using the pay yourself back feature right? How would you cash out that many points from purchases in last 90 days from select categories at 1.25. Am I misunderstanding or missing something?

        • You don't need to be a rocket scientist to figure this out. How do people spend $25,000 annually on groceries on an Amex Gold, or hit $1500 in groceries month on most Chase cards now, or spend $50k in office supplies annually on Ink cards? Hmmm. Must be eating a lot of expensive steaks and buying a lot of chairs. 🙄

          • No, I see where I went wrong. I was looking at this pay yourself back feature wrong. Even if you have hundreds of thousands of points from a long time ago or from bonuses or whatever the source the the points, you can NOW go out, make a ton of purchases in the select categories, and cash out a ton of points against those purchases.

            So now that means I'm irritated again for just recently cashing out like 500k URs recently.

    • People that don't have a Reserve or that would rather cash out on the suggested categories mentioned above. The transfer to Reserve I think is best but could vary

    • I found that 3% OSS link through Google a few years ago as well, and was very confused by it. I agree with Doc — it's a really old link from some other product, not from any product currently offered.

  • Office stores maybe? One can hope. I just applied for CSR and despite being well under 5/24, was turned down, likely because I have dozens of cards anyway headed towards a recession.

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