Wednesday, August 5th, 2015, 12:01 pm
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I have a couple Chase Ink Bold cards currently.
One is from the old Exclusives program that went away in 2011. It’s an awesome card that earns up to 1.675 points per dollar everywhere. And I’ve been able to nab annual retention bonuses to keep that card going as well.
Another is for another business that I got last year before the Bold card was completely discontinued. That card earns 5 points per dollar on office supplies/telecom and 2 points per dollar on gas and hotels. Essentially it’s identical to the Ink Plus (and similar to my Ink Classic and Ink Cash cards) that I also have, except that it’s a charge card. That means that the credit line is flexible and able to be easily adjusted as needed and that you can’t carry a balance on the card (not that you should even carry a balance with interest on a card). It was unique in the Chase portfolio as was intended to compete with the AMEX stranglehold on the charge card market.
However effective 08/31 my Bold cards are being “unboldended.” Meaning that they will be converted to regular credit card with a credit line. Everyone who has a Bold card will receive a letter in the mail and a secure message with the details of their new hard credit line.
It’s unfortunate to lose that flexible spending line. But on the other hand, the additional hard credit line will be able to used as leverage to get approved for other cards. Essentially the cards become Ink Plus cards.
The best news is that there was no word on any changes to the old Exclusives rewards program, which is surprising given that on 12/31/15 the Chase Freedom card is losing its Exclusives benefits and Sapphire Preferred is losing its 7% dividend program then as well. Here’s hoping that no news is good news…