Ultimate Rewards, which is the points currency used exclusively by Chase, is one of the most valuable point currencies out there. Points can be transferred to the following partners at a 1:1 ratio:
- British Airways
- Korean Airways
- Virgin Atlantic
- InterContinental Hotels Group
- Ritz Carlton
I value UR at 1.8 cents per piece, thanks to Hyatt, Korean, and British Airways. United was formerly their best transfer partner until their royal devaluation earlier this year. That being said, 60k points is worth roughly $1,080 if redeemed with their top partners. Among the other benefits of the cards:
- Earn 5X points per $1 on the first $50,000 spent annually at office supply stores and on cellular phone, landline, internet and cable TV services.
- Earn 2X points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel.
- Earn 1 point per $1 on all other purchases—with no limits.
- Points do not expire.
- No foreign transaction fees on international purchases.
- $95 annual fee waived for the first year.
- 2 free airport lounge passes per year with Lounge Club.
A $5k spending threshold within the first 3 months of card membership may be difficult for some, but there are easy ways of meeting it, like using Amazon Payments or buying Visa gift cards at Staples, which shells out 5X points per dollar. The Points Guy lists 10 unique ways of easily meeting credit card minimum spend. The Ink Plus and Ink Bold cards are nearly identical with one major exception in that the Ink Bold is a charge card that needs to be paid back in full monthly, whereas the Ink Plus is an actual credit card. Remember that you also don't need to own an actual business to be eligible for these cards. The "thought" of opening a business or even an eBay sale technically qualifies you as a small business. For more on how to qualify as a small business proprietor, see Million Mile Secrets' post.