Chase Ink Plus Business Card Review: $500 Cash, $625 Travel, or 50,000 Mile Bonus

Chase ink Plus Business Card(Update: There is now a 70,000 bonus point bonus available if you apply for this card inside a physical Chase Bank branch. However, the $95 annual fee is not waived as it is for the online offer below. Via FW. Alternatively, if you have applied online recently for this card you should log into your account soon and send them a secure message asking for a match to this current promotion. Chase has historically honored the best promotion available, and people have already reported success in this case as well. Remember, the worst they could say is no!)

Chase has a new small biz credit card, called the Ink Plus® Business Card. It turns out to be very similar to the Chase Ink Bold Business card (full review), but with the important difference that the Ink Plus is a credit card where you can carry a balance and the Bold is a charge card that you must pay in full each month. The current APR for both purchases and balance transfers is 15.24%.

The good news is that the Ink Plus has a sign-up bonus, offering 50,000 Ultimate Rewards points after your after spending $5,000 in the first 3 months your account is open. You can read about my Ink Bold bonus experience here. To briefly recap:

Ultimate Rewards points are very flexible:

  • Cash. 1 point = 1 cent in cash, so 50,000 points = $500 cash.
  • Travel. 1 point = 1.25 cents towards travel, so 50,000 points = $620 towards travel at the same prices at Expedia or Travelocity (no % markups), split up however you like into multiple tickets, down to the penny. Good for people who don’t like to bother with miles.
  • Frequent flier miles and hotel rewards points. Transfers directly to United miles, British Airways miles, Hyatt hotel points, and Marriott hotel points. Best for folks that are willing to research and maximize their miles. Top up your account to reach an award, an transfer over only what you need.

The card also has the following same Ink Bold features:

  • Chase celebrates small businesses with a special bonus offer!
  • For a limited time, earn 50,000 bonus points after you spend $5,000 in the first 3 months from account opening. That’s $620 toward travel when you redeem through Chase Ultimate Rewards.
  • With Ink Plus, you have the cash flow flexibility with the choice to pay over time or pay in full.
  • Earn 5X points per $1 on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services.
  • Earn 2X points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel.
  • No foreign transaction fees.
  • 1:1 point transfer to participating travel programs with no transfer fees.
  • Free Employee Cards.

You can buy Amazon.com gift cards at Staples and OfficeMax and get the 5x points, effectively discounting them 5% in cash (6.25% in travel), which may also help you with the spending requirement. Based on past experiences, you should be able to get this card and bonus in addition to the Ink Bold card as they are different cards. I already have the Chase Sapphire Preferred personal card and the Ink Bold card, so I’ll probably wait for a bit during my no-annual-fee first year and then try out this new card as well for my business.

Many people aren’t aware of the fact that they can apply for business credit cards, even if they are not a corporation or LLC. The business type is called a sole proprietorship, and these days many people are full-time or part-time consultants, freelancers, or other one-person business. This is the simplest business entity, but it is fully legit and recognized by the IRS. On a business credit card application, you should use your own legal name as the business name, and your Social Security Number as the Tax ID.

“Disclaimer: This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer’s Affiliate Program.  “The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.”

Horizon Motif Review: Commission-Free, No Advisory Fee, Index ETF Portfolios

motiflogoMotif Investing is a discount brokerage with a twist: you can buy a basket of up to 30 different stocks or ETFs and the entire basket costs just $9.95 a trade. When I first heard of this company, I thought it would be a cool way to build your own custom ETF. It could be dividend income stocks, your own balanced fund of stocks and bonds, promising solar companies, whatever. There are now hundreds of pre-made baskets “Motifs” available. You can start with as little as $250 and they hold fractional shares so all your money is invested.

But you could also make a diversified portfolio of low-cost index funds. Motif went one step further and introduced their own Horizon motifs, which come with zero trade commissions as well as no management fees. There are 9 different Horizon Motifs – you pick one of three time horizons (1 year, 5 year, or 15 year) and one of three risk levels (conservative, moderate, or aggressive). Consisting mostly of Vanguard and iShares ETFs, here is the asset allocation for their 15-year, aggressive portfolio:

  • 27% US Stocks (VTI)
  • 17% International Stocks (VXUS)
  • 8% US Real Estate (VNQ)
  • 5% Commodities (GSG)
  • 27% International Total Bond (BNDX)
  • 16% US Total Bond (BND)

Overall, the asset allocation portfolios are pretty similar to those offered by other brokerage firms, mutual fund companies, and “robo-advisor” online portfolio managers. I would note that compared to their competitors’ asset allocation models, Horizon Motifs as a whole have a slightly greater allocation to bonds. Usually an “aggressive” long-term portfolio has 70% to 90% in stocks, while Motif has roughly 60%. Their 15-Yr Conservative is ~50% stocks and their 15-Yr Moderate is ~40% stocks. You can adjust the relative percentages of the ETFs inside the Motif, but that will change it to a custom Motif and thus it will cost $9.95. (I tried.)

I have an Motif Investing account, and here is confirmation that the trade commission is zero and an illustration of how fractional shares work (click to enlarge):

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Horizon Motifs can be a great way for beginner investors to get started without getting eating alive by fees. The impact of zero commissions is greatest when your portfolio size is small. For example, paying $10 commission on a $250 monthly deposit is an instant 4% drop in your balance. Through this whitepaper, I found that the Motif is rebalanced based on tolerance bands linked to time and percentage variations. Rebalancing would be free as well since it is usually just charged as one trade.

I don’t know anywhere else you can buy a basket of 6 low-cost ETFs for $250 with no commission and have every dollar split into fractional shares so that you are always fully invested and have it rebalanced for you regularly for free. Once you start investing larger amounts down the road, then you can switch to something more customized if desired.

To answer a reader question, Motif is a “real” brokerage firm with the usual $500,000 of SIPC insurance and uses Apex as their clearing firm (same as TradeKing, Betterment, OptionsHouse). They also offer two-factor authentication for security.

Motif Investing does have some new customer promos, but some won’t apply if you only make free trades. You can get a $150 cash bonus if you deposit $2,000 and make 5 trades at $9.95 each. They also have a $150 IRA promotion if you transfer over $5,000 in assets.

Free Rideshare Promo Codes: Uber, Lyft, Flywheel, Gett, Sidecar, Silvercar

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Flywheel now $20, Sidecar now $15. Summoning a car with your smartphone is all the rage. Most of these startups are offering some form of bonus credit for first-time users. If you live in a major metro area, this can quickly add up to a decent … [Read the rest]

Covestor Core Portfolios Review: Free Managed ETF Portfolio

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Low-cost index ETF portfolio are everywhere these days! Covestor is a site that usually charges you a fee to manage your portfolio to follow various active managers, with fees ranging up to 2% per year (split Covestor/manager 50/50). However, they … [Read the rest]

TradeKing Advisors Review: Managed Core and Momentum ETF Portfolios

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Another online ETF portfolio advisor joins the mix. Discount brokerage TradeKing, possibly best known for their $4.95 stock trades, announced a new subsidiary called TradeKing Advisors which will directly manage ETF portfolios for retail customers. … [Read the rest]

Infographic: Income for Maximum Happiness For All 50 States

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You may have read that a Princeton University study by Deaton and Kahneman found that people were more satisfied with their life as their income rose, but only until about $75,000 a year. After that, higher income did not result in greater … [Read the rest]

Current Amex Special Offers: Whole Foods, JC Penney, Best Buy

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Updated 7/21/04. This post will be updated to include selected recent special offers from American Express that are widely available to their cardholders. These promotions often offer the opportunity for easy savings without changing your … [Read the rest]

Groupon Deal: Sam’s Club Membership

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Available again. Groupon has a special Sam's Club Plus membership deal where for $45 you get: One-year Sam's Club Savings membership ($45 value), which includes a membership card for the primary cardholder and a complimentary membership card … [Read the rest]

Kindle Unlimited Review: Personal Finance and Investing Books

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Amazon has just announced Amazon Unlimited, an eBook and audiobook subscription service that costs $9.99 a month (30-day free trial) and not included in Amazon Prime. They claim over 600,000 titles in their library, although that number is padded … [Read the rest]

Free FICO vs. non-FICO Credit Score Comparison

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Updated with new scores. There are many free credit scores are available nowadays, but how do they compare in real life? There are three major credit bureaus - TransUnion, Equifax, and Experian - which all may have slightly different information … [Read the rest]

Non-Traditional Retirement Story: 50% Savings Rate and Year-long Vacations

Rarely are people who achieve a non-traditional retirement profiled on mainstream media, and when they do it's usually with a "omigosh look at these crazy people" type of article. So I was surprised when I ran across this couple who talk casually … [Read the rest]

Manything: Turn Your Old iPhone, iPad, or iPod Into a Free Home Security Webcam

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In order to keep an eye our house on longer trips as well as monitor our dogs anytime, we bought Samsung WiFi cameras a while ago that stream directly to our phones. We decided not to go with Dropcam in order to avoid recurring monthly fees. Our … [Read the rest]