Some bad news coming from Chase. I just received a secure message from them regarding my Ink Bold Business Card, but it is actually about the Ultimate Rewards program. Starting this Sunday, November 15th, they are implementing changes to the Chase Ultimate Rewards® point transfer program, limiting transfers to frequent travel programs of authorized users on the account.

Here’s the text of the notice:

We are making changes to the Chase Ultimate Rewards® point transfer program.

Here are a few things you need to know:

• Starting November 15th, when you transfer points to participating frequent travel programs, you can only transfer points to yourself or an owner of the company who is listed as an authorized user on your card account.
• If you previously saved your frequent travel program numbers on Chase Ultimate Rewards, you will need to reenter them.
• Please make sure the name on your Chase account matches the name on your frequent travel program accounts.

To view the current Rewards Program Agreement, click here.

We apologize for any inconvenience. Thank you for being a valued customer.

In the terms they also describe how you can lose your points and on of the reasons is if they believe that you’ve misused the program in any way, for example:

• by buying or selling points
• by moving or transferring points to an ineligible third party or account
• by repeatedly opening or otherwise maintaining credit card accounts for the purpose of generating rewards

This is not good at all and is the last restriction coming from Chase who has been cracking down on MS lately.