I'll add a few thoughts:
1. I do not doubt that the lack of any restriction (other than 5/24, velocity and credit limits) enforced on product or bonus that allows the CIPpy cup to flow also applies to all Ink products. See this
DP of the SUBs pending on two CICs with the same EIN. So if someone were to go for the CIUpy cup, they should receive the bonus on the second, third, etc… but it won’t be as punny.
2. Or lucrative?
Assuming your math, where I’ll value UR at 1.5 cpp:
69,500 URs per CIU signup (50k + 15k + 4.5k) for a $3,000 MSR, no AF.
69,500 URs = $1,042.50/$3,000 MSR = 34.75% return
vs.
At least 105,000 URs per CIP signup (80k + 20k + 5k) for a $5,000 MSR.
105,000 URs = $1,575 - $95 AF = $1,480/$5,000 MSR = 29.6% return
Sure, the relative return is better with a CIU, but the absolute numbers put you at 35,500 less URs per CIU approval. How are you going to make up that difference, and what’s the cost to pursue those points you left on the table? Let’s be real, you’re not going to make up the ~35k UR difference by spending your way at 1.5x, 2x, 3x, or 5x bonus categories (you’d need to spend $23,667 on your CIU to get that extra 35,500 URs). You’d really need another SUB to make up that difference quickly. Assuming you stick with the recommended 3 months break between applications, you’re not going to squeeze in an extra CIU app when you wouldn’t do another app with the CIPpy cup in that same time. So drinking from the CIUpy cup puts you ~35k URs behind every 3 months compared to someone drinking from the CIPpy cup.
3. Yes, you can use Venmo on the CIP. What is the cost of Venmoing $2,000, which is the difference in MSR between the CIU and CIP? $60! If you’re really having a hard time meeting that last $2,000 in 3 months, use Venmo. The way I look at it, is an extra ~35k URs worth $60 in fees? (Please say, yes.)
4. If you’re really enticed to start drinking from the CIUpy cup, but you only have the CIP(s) because you’ve been drinking exclusively from the CIPpy cup, and you don’t have a CIU or CIC from which to support yourself for an extra 15k UR, I’ve seen DPs that Chase allows PCs of CIP to CIC/CIU before the first year. These are business cards and not subject to the CARD Act. However, this is not recommended to stay above board with Chase, but also because you have to call in to PC and it attracts eyes to your account.
ETA: I will concede that the $2k difference in MSR between the CIP and CIU could be spent towards another MSR on a card issued by a bank other than Chase. So while a cautious velocity won’t allow you to squeeze in another app with Chase to make up the difference in UR bonuses you’d get from the CIU vs. the CIP, you could slot in another app from Amex, Citi, Barclays, etc. that you can put the $2k difference towards and get a big SUB return in another currency.