Posted by William Charles on July 15, 2017
Credit Cards

Published on July 15th, 2017 | by William Charles

176

Chase Sends Out Survey Regarding Possible Changes To Transferring Chase UR Points For 1.5¢ Travel Redemptions

Reddit user msd2179 completed a Chase Customer Panel survey regarding the ability to transfer Chase Ultimate Rewards points to the Chase Sapphire Reserve to take advantage of the 1.5¢ per point value you get when redeeming for travel through the Chase travel portal. They wanted to know how users would feel about the following options:

  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.”

All three of these options are terrible and significantly devalue the current value you can get from the Chase Freedom Unlimited (1.5x Chase UR on all purchases) and the Chase Freedom (5x Chase UR on rotating categories). If they made these changes I assume they would also affect your ability to transfer the points to Chase’s travel partners as well. Obviously this is just a preliminary survey to see how customers would feel about these changes, but it isn’t good to see Chase even considering these types of negative changes.

If you received this survey, make sure you complete it so Chase knows how terrible these changes would be for cardholders. Might as well transfer over any points you have just in case as well.

Small Update: A number of months back, we heard a rumor from an insider that this kind of change was being looked at.



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Nick
Nick

Maybe I’m missing something but what kind of response do they expect?

I feel usually with things like this they have one positive aspect to somewhat outweigh the negative, but these are all negative changes.

artgriego
artgriego

They want to find out if enough people are clueless so they can pass these changes without worrying about backlash.

Elmer
Elmer

+1

Matt
Matt

This would be terrible for anyone that actually earns points by spending. It completely destroys the value of the Freedom Unlimited at 3:2, where it becomes a 1x card. and that’s not even the worst option!

Sam
Sam

I got it, and it was a tricky survey. If you weren’t paying attention you wouldn’t realize that that’s what they were asking. They surrounded all of the changes with other “great features.” Those features were things the cards already have (including the incredible redemption of points with Amazon for 80 cents on the dollar when you only get 100 cents on the dollar when you redeem UR points for cash…).

But yeah, if you weren’t paying attention you wouldn’t realize that Chase was proposing anything new. Very misleading. But I caught it and expressed my displeasure and likelihood to look elsewhere for credit cards.

Vincent
Vincent

Yeah I’m pretty sure there were no other changes (at least not that I noticed) except for the UR changes.

Dave
Dave

This is terrible, but honestly, kind of makes sense for the bank. They don’t want people getting 5 UR from free Freedom and transferring to CSR and redeeming for 7.5c. I would be severely disappointed if this happened. It would also pretty make me drop the CFU immediately.

bob
bob

exactly, i’d either PC it to a CF and get 10/3 when transferring to my INK+.

Or PC my CFU to a CSP, and my INK+ to a Ink Cash and get 10/3 on more stuff that way.

ugh. dammit.

PAUL
PAUL

If they want me to cancel the Sapphire Reserve, this is how to do it. The 1.5 is a sufficient sweet spot that I’ll eat the $450.

They’d better grandfather it or face major revolt.

MoreSun
MoreSun

#Truth

Superchurn

Agreed

On the plus side, if Chase pulls this BS, I won’t have to worry about 5/24 anymore

Peter
Peter

I would cancel all annual fee Chase cards and switch to 2% Fidelity or 2.5% USAA Limitless.

Implementing this change would destroy the great program Chase has built.

Peter
Peter

To add, if Chase retains the current reward program I have no intention to cancel any of my Chase cards. But a devaluation or change as outlined in this post will cause me to switch lenders.

Vic
Vic

TL;DR:

Chase is considering killing Ultimate Rewards, want to know how to kill it.

Vic
Vic

Jokes aside, if they really decides to separate UR into two types, Freedom, FU, and Ink Cash would be extremely devalued, and people who still haven’t downgrade Ink Plus would be VERY happy.

Alex
Alex

What value would the ink plus retain? Maybe I missed it but I didn’t see anything indicating this. I just got my first annual fee from ink plus and am thinking about downgrading to a second ink cash.

Vic
Vic

The three (awful) choices are all trying to differentiate UR cards with AF and without AF.

If any one of it becomes true, the points earn on Ink+ will become more valuable than the points earned on Ink Cash.

MoreSun
MoreSun

Wow Chase. Wow. I’ve been thrilled with Chase & loved using my CSR/Freedom combo and tell my friends all about it. Heck, my parents are enjoying it so much they’re looking at switching their business spending to chase from Amex. I asked them about this & they said they’d give up their CSR, had planned on keeping it. I’d give mine up to (had also planned on keeping it).

bY
bY

Follow

Chucks
Chucks

The type of person who even knows UR can be transferred between cards is kind of Chase’s nightmare. Consistent 1.5cent redemptions are simply unsustainable for 5x categories.

Earn and burn my friends.

CM

So, if 1.5 CFU points would equal 1 CSR point… Does it mean I can transfer 100k CSR points onto CFU, and get 150k points, redeemable for 1.5k cash? Because that’d be great!

Rudy
Rudy

Dude you are badly smart on this, LOL

Nonono
Nonono

It’s 3:2 for any transfer, so you end up with 66.6k fu’s.

Russ
Russ

Attn Chase: Amex already tried having two classes of one rewards currency. Go ask then how it worked out. Really, go ask, we’ll wait….

MoreSun
MoreSun

ROFL

Ender
Ender

You are talking about plenti?

Dan
Dan

Same with two tiers of TY points. confusing garbage

Vic
Vic

Two tiers of same type of currency must be one of the stupidest design; so confusing that even churning veterans sometimes don’t understand.

TYP is even worse, unclear expiration rule, two tiers between bank account / credit card. It’s a total mess

Elmer
Elmer

Chase already has two tiers of UR. Ask anyone that doesn’t have a CSP, CSR or Ink+.
This would make it even worse for everyone and much harder for average customers to understand the UR program.

NinjaX
NinjaX

RIP UR…

max
max

Would instantly cancel all my chase cards and close my bank account with them

Richard
Richard

Yeah big deal. Who are you gonna turn to next? Why do you think they give out big bank bonuses and credit cards? Trying to take aim at the millionaire spenders that are loyal amexers that don’t care about UR as much

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