Chase UR redemption on Amazon to be devalued

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Beginning September 1st, the redemption rate when using Chase Ultimate Rewards at Amazon checkout is being reduced to 0.8˘ per point (currently it is 1˘ per point).

Everyone should already know not to use this feature, since you can redeem for a statement credit at 1˘ per point and earn cashback on your Amazon purchase, but with this change it will be an even worse value to redeem for Amazon purchases.

http://twocents.lifehacker.com/the-amazon-rewards-for-your-chase...
 

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doveroftke said:   Beginning September 1st, the redemption rate when using Chase Ultimate Rewards at Amazon checkout is being reduced to 0.8˘ per point (currently it is 1˘ per point).

Everyone should already know not to use this feature, since you can redeem for a statement credit at 1˘ per point and earn cashback on your Amazon purchase, but with this change it will be an even worse value to redeem for Amazon purchases.

http://twocents.lifehacker.com/the-amazon-rewards-for-your-chase... 

  I never use this or any of those shop with points deals.  The only exception is when they were giving away $15 or $20 just for using shop with points.

When did any of you directly get such an email? I have not.

Thanks for the heads up. I zeroed out my points on a purchase a or so week ago. Will be using my other reward cards.

Why am I not surprised? Chase has become user-unfriendly over the past 12 months, in line with announced plans to shrink employees and other costs.

It's also easy to transfer points as cash to a chase savings or checking account if you have one. They don't do redemption checks anymore.

JW10 said:   When did any of you directly get such an email? I have not.
 

  I got the email this morning (7/29).
 

Thanks for this. I noticed when reloading an Amazon gift card recently that there was no option to use UR points when paying with my Chase Freedom Visa. I have used them in the past to pay for a NEW gift card, but had never tried reloading an existing card with them. Didn't realize it couldn't be done.

Chase had a specific Amazon Visa card that awarded 3% on Amazon purchases and 1% on everything else.  I had it and used it until Amazon Prime offered me a better deal--the Amazon Prime Store Card from Synchrony Bank that gave 5% off on all Amazon purchases.  

I am sure that neither of them have interest rates that are anything to write home about, but since I pay the bill in full that's irrelevant to me.  

 

Notice email was dated July 29th, 2016

I got the email yesterday.

My thought was:
who in their right mind would redeem the points for less value for Amazon purchase when they can obviously cash out more for cash?!



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