In addition to reducing the Hyatt referral sign up bonus to 50,000 points (previously 60,000) Chase has also sent out an e-mail to existing cardholders that the new referral bonus will be 5,000 per approved referral, down from 10,000. This shouldn’t really affect anybody because you shouldn’t be referring friends to this offer, especially when there was a 60,000 offer so recently (that offer is also still available).
The fact that they have also reduced the maximum bonus to 25,000 bonus per year makes me think this is a permanent change as well. Seems very strange given that the customer acquisition costs for referral offers are typically significantly lower than other sources, although Chase might expect they would capture those new cardholders regardless of the offer.
