Exact steps needed to get 80k UR ~ $1,000-$1,200 in travel.
This is a quick checklist for how to get your first card and handle the $5,000 minimum spend requirement (MSR) to get your bonus: 80k in Chase Universal Rewards (UR) or about $1,000-$1,200 to spend on travel.
Step 1
Apply for the Chase Ink Preferred. This is a business card and will not show on your credit report. To see how you qualify for this card and exact application steps, see this post: You CAN apply for business credit cards.
It will take about a week for approval and to receive the card.
Step 2
In Chase online banking, send a secure message asking for the cash advance limit to be lowered to $100 (the minimum Chase will allow) so credit card funding will not code as a cash advance.
This request will be processed in about 24 hours.
Step 3
Open an account with Premier Members Credit Union and fund it with $1,500 charged to your new credit card. You get a bonus $50 here as well!
$3,500 MSR to go.
Step 4
Venmo a trusted second player in this game $500 to start. Do not Venmo too much too fast or you will be shut down. They must send the money back outside of Venmo. Do this once a week.
This should cover the rest of your MSR and earn you some bonus UR as well since Venmo is a bonus category on Chase Ink Preferred.
Alternative Step 4
Find another bank that allows credit card funding, like PNC. A local credit union in DC allows 6 separate accounts, all funded with a credit card. This can cover a lot of Minimum Spend Requirements.
Future Steps
- Refer yourself to a second CIP
- Earn a steady stream of UR
- Take advantage of other Chase business cards
- Get the Chase Sapphire Reserve and increase your stored UR value to 1.5x.
