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Learning, Sharing, and Teaching => Investor Alley => Topic started by: JenniferW on March 02, 2019, 12:26:08 AM

Title: Chase Ink Business Card has 0% APR for 12 months
Post by: JenniferW on March 02, 2019, 12:26:08 AM
I need to spend $3000 in 90 days to get the $500 bonus -- easy peasy.  I am just wondering since this particular card has 12 months interest free, should I just spend $5500 on it (credit limit) and carry the balance for 11 months then pay it off in full a couple weeks before deadline?  This way I can get 2.2% interest on it from ally.com.  About another $90-100 worth of money.  I wouldn't buy anything on the card I wouldn't normally with cash.. my savings rate is about 65-70% each month.

Or will the carrying of the balance do too much psychological harm? lol.
Title: Re: Chase Ink Business Card has 0% APR for 12 months
Post by: harvestbook on March 02, 2019, 03:27:47 PM
I wouldn't, but only because I despise debt. others would probably call it a no-brainer win. I just think of things that can happen while I have a bunch on a credit card--injury, job loss, lawsuit, medical emergency, etc. and it would be one more thing to worry about, for little gain.

I passed up this card myself because I just got a 1.5 percent cashback and $150 bonus Capital One card. Even though the Ink is a "better" deal, I just don't want a bunch of cards floating around.
Title: Re: Chase Ink Business Card has 0% APR for 12 months
Post by: JenniferW on March 02, 2019, 03:48:19 PM
Hrm I have seven credit cards now all with zero balance :P

One thing I thought of though , is that by carrying the balance that puts me at a higher percentage utilization which will lower score a little.
Title: Re: Chase Ink Business Card has 0% APR for 12 months
Post by: StressLess on March 04, 2019, 04:25:27 PM
I've done this and can confirm your credit score will lower. Potentially by a lot depending on limits/utilization.

Also heads up saw an article about it, a lot of those rewards are taxable
Title: Re: Chase Ink Business Card has 0% APR for 12 months
Post by: bacchi on March 04, 2019, 08:40:51 PM
Last I checked, Chase doesn't report business cards on personal credit reports. You can max it out and it won't affect your credit score.