Mistaken Ink Premier Application

We all make mistakes in award travel. This hobby requires attention to detail and constant learning, so mistakes are natural. This is especially common when starting out. A common mistake we have been seeing lately is folks applying for the Chase Ink Business Premier instead of the Chase Ink Business Preferred. This is a big deal since the Premier is a cash back card whereas the Preferred earns valuable Ultimate Rewards points that you can transfer to airline and hotel partners. If you have submitted a mistaken Ink Premier application, then this post is for you.

First Things First: Were you approved?

This is probably the only time you want to cross your fingers and hope for a denial. If you get denied for the card, then we can call it a win! Sure, you'll have a hard pull on your credit, but that's not a big deal.

If you do get approved, though, then that's another story. Unfortunately, you cannot undo, cancel, or take back a credit card application once approved. So in this regard, there is nothing you can do to change your application for the Ink Premier.

We have seen posts where folks call Chase as soon as they realize they applied for the wrong card. In a couple of cases, the Chase rep has told the person to go ahead and immediately apply for the Ink Preferred. We do not recommend doing this.

Applying for two cards from the same bank on the same day is not a good idea.

Lessons Learned

Let's take a minute to learn a lesson from this experience. Yes, the Ink Premier and Ink Preferred look very similar on Chase's website. Some may say the similarity is even intentional. But at the end of the day, we're all capable of looking closely at the name of the card we're applying for to make sure it's the right now.

Applying for the wrong card is a sign that we're moving too fast. This time it was a credit card application. Next time, it could be transferring points to the wrong partner, booking economy seats instead of business class, or some other big mistake.

The bottom line here is that we should all proceed carefully when making big decisions.

What Now? Next steps and what can you do with your cash back welcome offer

If you're approved for the Ink Premier, what should be your next steps? You might as well work on the minimum spend and earn that welcome offer, even if it's just cash back. Of course, as award travelers, we tend to prefer earning points over cash back. But a welcome offer is a welcome offer, so let's make lemonade out of some cash back lemons.

Below are a few ideas for what you can do with your welcome offer and have that cash back work for your travel goals. Remember: money–including cash back–is fungible. You can always use that cash back for a myriad of other purposes unrelated to travel, of course.

Travel Funds

Travel isn't free, even when we're redeeming points. We need cash to pay for taxes and fees on award flights, or food and tours at the destination, among other expenses. Set your Ink Premier cash back aside to offset these costs for your next trip.

Bank Bonus

Make that cash back earn you even more money by using it to earn a bank bonus. Banks often have welcome offers for opening checking or savings accounts. It's common for these offers to require you to deposit a certain amount of cash. Take your cash back and use it to meet a bank bonus or two.

Buy points to create your own welcome offer

While we don't recommend buying points most times, there is one instance where it makes sense. Buying points is a viable option if you have found award availability with a program and you need to either top off your account or it's cheaper to buy the points than paying cash. If this is the case, then you can create your own welcome offer by buying the points you need with the cash back you earned from the Ink Premier welcome offer. As a bonus, you're not limited to just buying points to Chase's transfer partners.

Mistaken Ink Premier Application: ToP Thoughts

Applying for the Ink Premier when you meant to apply for the Ink Preferred can be deflating. But as with any other mistake in life, let's learn from it and make the most of the outcome. The lesson learned is to take an extra couple of minutes to read more carefully and double check everything we do in the award travel space. Credit card applications can't be canceled or undone. So if you're approved, it's time to work on that minimum spend and make the most out of the cash back you receive from the welcome offer.

What have you done with the cash back from opening an Ink Premier by mistake? Come share your experience in our Facebook group!