If you were using Chase Ultimate Rewards to shop on Amazon (which you shouldn’t) then you should watch out for this devaluation that is coming September 1st. Right now you can redeem UR points for 1 cents each on Amazon, getting $1 worth for 100 UR. After 9/1 you will need 125 UR to get $1 worth on Amazon.
What’s weird about this is that while Amazon redemptions are devalued, other redemption options including cash back, gift cards, travel and more remain the same. So you could just cash out your UR points and then use that cash (well your CC better to get some extra points) to shop on Amazon for better value.
Here’s the text of the email
We are making changes to the Chase Ultimate Rewards Amazon Shop with Points program.
* Beginning September 1, the Amazon.com redemption value for $1 is changing from 100 points to 125 points.
* 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.