Another thing you can do is downgrade it to an Ink Cash card and then reapply for IB.
I SM'ed to downgrade IB to Ink Cash and was sent the following message:
I appreciate you taking the time to contact us regarding
the Chase card ending in xxxx.
Please note that your Ink Bold MasterCard account has a
flexible spending capacity, instead of a pre-set credit
line. As a result, each transaction is approved based on
credit information, account history, and personal spending
patterns. If you plan to make a large purchase, or one
that doesn't conform to your usual spending patterns,
please contact us in advance so we can note that on your
account and your transaction can be processed smoothly.
Further, I regret to inform you that the option to change
your account to a no annual fee one is unavailable.
I apologize for any inconvenience this may cause you.
If you have any further questions, please reply using the
Secure Message Center.
Sincerely,
Senior Service Specialist