Quad CIP — The Best Poker Hand in Churning
The data points are in: you can get 4 CIPs. Don’t forget to self-refer.
Several data points have confirmed that you can get 4 CIPs from Chase. Also, the previous advice about using an EIN and your middle initial were just superstition. Feel free to apply for multiple CIPs with your name and no additional tricks. Best practice is to space out these applications by at lest 3 months.
This step-by-step guide will walk you through the application.
After signing up for 4 CIPs (3 self referrals), you will earn 380,000 UR just from the signup bonuses, worth as much as $5,700 when redeemed for travel.
Things to know about the Chase Ink Preferred:
CIP falls under 5/24 but doesn’t add to it.
Chase has a strict application rule referred to as 5/24. Your credit card application will be denied if you have opened 5 or more credit cards in the last 24 month. (This was recently expanded to 5/48 for Sapphire cards). While you need to be under 5/24 to get a CIP, because it is a business card, it doesn’t add to your 5/24 count. A great way to stay below 5/24 is to focus on business cards.
CIP is a business card. It doesn’t show on your personal credit report. This has some advantages and disadvantages. Using the card doesn’t add to your utilization but getting approved for a high credit limit also will not increase your available credit. This should leave you with a net positive affect on your credit score. Yes, you can apply for business cards.
You can meet your Minimum Spend Requirement (MSR) with credit card funding. Chase cards allow credit card funding to meet your minimum spend. Basically, you open a new bank account and fund it with a credit card. Often you can get a bonus for opening that bank account as well. Complete guide with a $50 referral bonus here.
Referrals earn you 20k UR each, 5 max per year. A single referral covers 2 years of annual fees for CIP, making this the most profitable Chase referral bonus program. You can earn up to 100k UR this way and you don’t need to convince anyone to get your first referral.
If it sounds like this card is right for you, check out my step-by-step guide to applying for this business card. It will walk you through qualification and application requirements.
