Changes to the Chase Ultimate Rewards® Amazon Shop with Points1 program.

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I just received the following email from Chase:

"Dear George,

 We are making changes to the Chase Ultimate Rewards® Amazon Shop with Points1 program.

• Beginning September 1, the Amazon. com redemption value for $1 is changing from 100 points to 125 points. This change does not impact the Amazon. com Rewards Visa card.
• Your points will no longer be deducted when your purchase ships; they will be debited at the time your order is placed.
These changes do not impact your other Chase Ultimate Rewards redemption options including cash back, gift cards, travel and more.
 Visit Ultimate Rewards today to learn more.

 Thank you for choosing Chase."

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Not sure why redeeming at Amazon for the same price that I can redeem for statement credit was ever a good deal anyhow ... I guess if you have a small amount of points maybe ? Now this makes it a nearly worthless option.

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