Chase Survey Worries Customers Of Devaluation

Chase Bank Branch Manhattan

This past weekend, a concerning excerpt from a Customer Panel survey sent by Chase was shared on Reddit.

The survey asked customers how they would feel if Chase changed the current ability to transfer Ultimate Rewards points from other Chase credit cards to the Chase Sapphire Reserve℠ Card.

Currently, combining all Ultimate Rewards points under the Chase Sapphire Reserve℠ Card makes all points worth 1.5 cents per point when redeemed through the Chase Travel Portal. This is particularly useful when booking economy class tickets.

Chase Ultimate Rewards Earning Cards

Chase offers a number of cards that earn Ultimate Rewards, and almost all of them offer different bonus categories to increase the rate at which you earn points. The ability to combine points and get 1.5 cents per point is important to ensure customers have a base value for their points.

Chase Personal Cards

#1 - Chase Sapphire Preferred® Card

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  • 50,000 bonus points.
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  • 2X points on travel and dining at restaurants worldwide.
  • Annual Fee: $0 the first year, then $95
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Chase Sapphire Reserve℠ Card
  • 3X points on travel and dining at restaurants worldwide
  • Annual Fee: $450
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Chase Freedom®
  • Earn 5% cash back in bonus categories
  • No annual fee
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Chase Freedom Unlimited℠

Chase Business Cards

Ink Business Preferred℠ Credit Card
Chase Ink Business Cash℠ Credit Card
  • Earn 5% cash back in select business categories
  • Card Review

What May Change

In the survey, Chase provided 3 options for possible changes:

  1. “When you combine the Ultimate Rewards points on eligible Chase Cards they would retain their original redemption value – that is, when transferred the points would retain the redemption value of the product they were initially earned on. For example you would not earn a travel redemption bonus if your transfer from a no fee card to a fee card.”
  2. “You can only combine Ultimate Reward points between no-annual fee cards or between annual fee cards. You cannot combine Ultimate Rewards points between a no-annual fee card and an annual fee card.”
  3. “You can combine Ultimate Rewards points on eligible Chase cards at a 3:2 conversion ratio. For example if you would like to transfer 15,000 points from your Freedom Unlimited card to your Sapphire Reserve account, your Sapphire Reserve would be credited with 10,000 points (a 3:2 ratio). The transferred points would be granted the redemption value and options of the account to which they are transferred into.”

Why This is Concerning

At 1.5 cents per point, the Chase Sapphire Reserve℠ Card has the best redemption value of any of Chase’s cards when booking through the Chase Travel Portal. However, it is not always the best card for earning Ultimate Rewards points. Depending on your spending habits, a few of the no-annual fee cards can really help you boost the Ultimate Rewards you earn.

Any purchases that don’t fit into a bonus category, for example, will earn the most points on a Chase Freedom® Unlimited card, at 1.5X points per dollar. The no-annual fee Ink Business Cash℠ Credit Card earns 5X points per dollar on cell phone, internet, office supply store purchases, and more on your first $25,000 every cardmember year.

The Ink Business Preferred℠ Credit Card earns 3X points per dollar on travel, shipping, social media advertising, and more.

By using a combination of Chase cards for your personal and business spending, you can earn tons of Chase points. Depending on the type of purchase, you can choose the appropriate card to maximize your points. All points can then be transferred over to the Chase Sapphire Reserve℠ Card to be redeemed.

If any of the above changes are made to the Ultimate Rewards program, it will seriously impact the ability of many individuals and businesses to earn and redeem Ultimate Rewards points.

In this case, if you wanted to redeem your points for 1.5 cents each through the Chase Travel Portal, you would have to use the Chase Sapphire Reserve℠ Card for all of your purchases.

You’d need to make calculations for your own spending to determine if the increased redemption value would compensate for the decreased earnings.

Final Thoughts

At this point, remember these ideas are just a survey. None of these changes have been officially announced, and it is not clear from the survey that any of them will actually be implemented.

Hopefully, Chase will receive enough negative feedback from this survey that they will decide not to make any changes at this time.

If you receive this survey, be sure to fill it out to make it clear that you do not want to see these changes. Chase needs to understand that their customers do not want their hard-earned Ultimate Rewards devalued!

Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

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