We’re reposting this because an e-mail was sent out to cardholders. Keep in mind this was never a good option, you were always better off redeeming for statement credit and then making your purchase (that way you’d earn credit card rewards, you can earn up to 5x/5% on Amazon). This way you can also use our Amazon link to say thank you for maintaining this site.
Chase has sent out an e-mail to Chase Ultimate Rewards earning cardholders (Chase Freedom, Chase Freedom Unlimited, Chase Sapphire, Chase Sapphire Preferred, Chase Ink Plus, Chase Ink Cash) changes to redeeming points on Amazon.com. Starting on September 1st, the redemption value for $1 will be changing from 100 points to 125 points (25% increased). Points will also be debited at the time your order is placed, rather than when an item ships.
This is a strange move by Chase, as you can redeem Ultimate Rewards points for $1 = 100 points in the form of statement credit. This means their is literally no reason why anybody should be redeeming on Amazon (this was already the case as you would have been better off charging the items to your card and earning rewards and then redeeming points for statement credit). Chase likely knows that cardholders redeeming for Amazon aren’t savvy consumers or simply don’t care and plan to take advantage of this.
Hat tip to Danny Deal Guru & /r/churning
