I've been meaning to give you a proper welcome, because where you are now is why I got into this hobby about two years ago. Let's just say I set a five year goal for myself, and I met it in a little over a year. But that story will have to wait another time. I'll get to your questions first.
Applying for the CIP is straightforward. If you're applying as a "business," the best advice is to keep everything simple and don't get fancy. Your business name is your First, Middle Initial, Last Name. Your Tax ID Number is your SSN. Your revenue is gross proceeds from whatever side hustle you may have, not profit. Your income is your total household income. When you're ready to apply for the CIP, we can walk you through in more detail.
Double dipping the CSR and CSP requires you to meet both cards' minimum required spend ("MSR") of $4k on each card, for a combined $8k. And because you apply for both cards on the same day, the 3 months you have to meet MSR overlap. However, in practice, Chase usually gives you about 115 days to meet MSR. You can confirm the date by when you need to meet MSR for each card by secure message ("SM") to Chase through your Chase online account. Again, when you're ready to apply, we can run you through it.
No. 1.5x per point is not a reason to use your CSR only going forward. It's a reason to pool all your Ultimate Rewards ("UR") points onto the CSR for redemption purposes. The CSR earns 3x UR on dining and travel. So use the CSR for those categories. Use other cards for whatever gives you the best bonus for other categories of spend. You can transfer UR points from other Chase UR-earning cards (the Chase Freedom ("CF"), Chase Freedom Unlimited ("CFU"), Chase Sapphire Preferred ("CSP"), Chase Ink Preferred ("CIP"), Chase Ink Cash ("CIC"), Chase Ink Unlimited ("CIU")) to the CSR, which will give the points a 50% bonus value (1.5x multiplier) when redeeming the points like cash for travel through the UR travel portal or through Chase's
travel agency. You can use UR points to book flights, hotels, car rentals, cruises, theme park tickets and packages, etc.
There is no "one" card you should use that's best for everything. Every card has different benefits and earns different bonuses on every dollar of spend in different categories. There are different philosophies about how to maximize the points you earn. Some people ignore the bonus categories on their cards (e.g. 3x UR points on dining) and will be putting all their spend on new cards all the time, because in that view the signup bonuses outsize any return you'd get on category bonuses (10-15% return vs. 3-5%). For those who don't want to be opening new cards all the time, focusing on maximizing bonus categories makes the most out of the cards you already have and gives you a reason to go after certain cards, yes for their bonuses, but also to fill in gaps in your non-bonus spend. I prefer a mix of the two.
I try to be very familiar with all of my cards' specific bonus categories so I know which to use where and when; and I'll even be very strategic with what cards to apply for to fill in category gaps where I'm not earning bonus spend. I'm a big believer in diversifying your wallet so you have a card that earns you some kind of bonus on every one of your expenses and anything that may come up.
I posted my breakdown of what cards I use, where and when, a few weeks ago (and updated for the upcoming quarter), which may be helpful as you’re plotting out which cards to get:
- I charge all dining and travel to my CSR and earn 3x UR.
- If I have to pay for flights, it’s a tossup between the CSR 3x UR and the Amex Platinum 5x MR. Charging travel to the CSR over the Platinum gives you much better travel insurance, and you get full coverage with the CSR even if you pay only part of your travel costs with the card.
- I may charge hotel stays to that hotel's co-branded credit card for a better bonus.
- I pay rent, utilities, student loans, daughter's tuition through Plastiq using my CIP for 3x UR. (The CIP is the only card that earns more rewards back than the service’s 2.5% fee.)
- I have our cell phone bills set to autopay on the CIP for 3x UR and phone insurance. (I value the CIP’s 3x UR and phone insurance > CIC’s 5x UR.)
- Our internet is set to autopay on the CIC for 5x UR.
- I have our Netflix and Playstation Vue subscriptions charged to gift card credit, which I buy when iTunes and Playstation Store gift cards are on sale and pay with whichever card gives me the best return at the merchant selling them (for example, see below re gift cards).
- Shopping on Amazon all comes out of Amazon gift cards purchased from office supply stores using CIC for 5x UR (or grocery stores in Q2 because that was included in Chase Freedom’s 5x UR bonus category, or Walgreens in Q3 because that’s one of Freedom’s upcoming 5x UR bonus categories).
- I'll add that you can use your Amazon gift card balance to buy third-party gift cards, so I often will get Amazon gift cards purchased at 5x UR, then use them to buy Safeway and Whole Foods gift cards to pass on that 5x UR bonus to groceries. If I don't have gift cards for groceries, I'll charge it to my Amex PRG for 2x MR on groceries or whatever new card on which I'm working on meeting MSR.
- I'll use the Gyft app to buy gift cards to merchants where I shop, like Target, or dine because it earns 5x UR through PayPal checkout on the CIC (or 3x UR on the CIP), whereas paying the merchant directly with a credit card may not earn any bonus or a lower bonus multiplier.
- If there's a merchant not on Gyft or the points and miles I'd earn are better on MileagePlus X (“MPX,” another gift card app), I'll use the appropriate card (because of pass through coding on Visas) to purchase the gift card I need on MPX instead to earn some combination of United miles, UR, MR, or SPG points. I also have a United MileagePlus card attached to my MPX account, which I don’t charge to, but earns me an extra 25% bonus United miles on every transaction.
- I often buy Visa gift cards using an Amex on which I'm working towards MSR to “shift” spend to use at other merchants later, like at Costco (because they only accept Visa).
- Occasionally, Amex Offers will have some kind of statement credit deal that's an effective 10-20% off to places that sell gift cards.
- For gas, I'll buy Chevron, Shell, and Exxon gift cards wherever I can earn 5x UR (like grocery stores this quarter or Walgreens next quarter with Freedom) or at a discount (like at Staples or Lowe’s with the Amex Offers). Last quarter, I bought a few gas gift cards from SVM on eBay because they were discounted and I'd earn 5x UR on them by paying with a Chase Freedom through PayPal because PayPal was a Q2 bonus category. If I don't have gift cards for gas, I've been using my Chase Freedom this quarter because the 5x UR bonus category includes gas stations. The CIC earns 2x UR for gas, but you could use the CIC to buy gas cards at office supply stores for a better 5x UR. Many Amex business cards were also targeted with Amex Offers for 10% statement credit (up to $100 back) at Exxon, but I’ll wait to use this offer on my SPG Biz because the SPG benefits change to earn 4x Marriott points per $1 after 8/1 (vs. the effective 3x Marriott points that is 1 Starpoint previously).
- If I have to Venmo someone, I'll use CIP because it earns 3x UR and negates the 3% fee.
- I have my eBay seller fees set to autopay on the CIP, which earns me 3x UR back on fees from a side hustle that I use a lot to apply for biz cards.
- I also have the CIP set in PayPal to pay for eBay shipping, which earns another 3x UR back. USPS/UPS/FedEx, Stamps .com, and USPS P.O. Boxes also earn 3x UR on the CIP.
- I'll use a particular Amex card if it has a useful Amex Offer on it for the merchant where I'm going to be spending money.
- I'll see how I can best use whatever is/are included in Chase Freedom's 5x UR bonus categories.
- If after all that, the thing I have to spend money on won't earn some kind of bonus, I'll throw the charge on a new card on which I'm working towards MSR.
- I'm working on MSRs for several new cards right now: the Hilton Biz, Amex Biz Platinum, Marriott Premier Plus, and I'm planning on applying for the SPG Luxury card in about two weeks.
- Occasionally, to meet high MSRs on new cards, I’ll have to divert some of this optimized spend to the new card that might not have a (or have an inferior) bonus for that category of spent, or may not have a good base earning rate. But the outsized value of a signup bonus usually dwarfs the loss opportunity cost of diverting that spend.
So you’ve seen me mention the CSR, CIP, CIC, CF, and various Amex cards. These Chase cards earn us greater than 1x UR bonuses on almost every cent of spend. Our Amex cards are great for Amex Offers, and they have strong hotel co-brand relationships and card offerings. My Amex Platinum card is mostly a “perks” card at this point; I’ll put flights on it for 5x MR if I think I won’t need the
trip insurance, and it gets decent Amex Offers, but it otherwise earns a terrible 1x MR pretty much everywhere.
Since you’re at 0/24, you have a lot of runway to get Chase’s cards, but being open to applying for business cards really helps to fill your wallet with very useful cards like the CIP (for 3x UR on Plastiq for bills that don’t otherwise take credit cards), CIC (5x UR at office supply stores – think gift cards, Gyft, and cable/internet/phone bills), and the CIU (a good “everything else” card that earns 1.5x UR); and stretches out how many Chase cards you can get with those 5 slots, because although you have to be under 5/24 to be approved for Chase’s Ink business cards, they don’t add to your */24 count and leave slots open for more cards. Besides, the Chase Ink cards have some of the richest signup bonuses that Chase offers.
Look at where your spend is and find a card that earns you a bonus for that category of spend. Formulate a roadmap to adding that card to your wallet. Especially because you're just starting out and are unfamiliar with the rules of each card and issuer, always run a major decision like applying for a card by this thread first. We'll always give you our best advice. It took me about a year to fill out my wallet to this point, and there are still a few cards I still want to get. Don’t hit Chase too hard, too fast; you’ll want to space out your applications to avoid the risk of Chase shutting you down. If you can get your wife involved, alternate her applications with your own to slow each of you down as you meet MSRs on new cards. Use referrals when possible to pick up extra bonuses.
And good luck!
Also, not the dog pictured 
