Update: Airfare is not currently devalued, so you should be able to still get 1-1.1¢ in value there. If you have points I’d recommend redeeming them for airfare ASAP.
Recently it was possible to get a sign up bonus of up to 50,000 points on the Terps credit card. You could redeem 24,000 points for a $200 Visa gift card, now that same gift card is costing more than double the amount of points at 50,000. Third party cards have also been hit, with a $100 card now costing 25,000 points. This means people that were previously getting a bonus worth $400 are now getting a bonus worth $200. I guess they were overwhelmed with applications and rather than reducing the points sign up bonus (which they have now done) they decided to massively cut the points value. The problem with applying for these sort of cards is that there isn’t really much you can do about this and it’s not like they are that worried about their brand.
Hat tip to reader @rent_is_high
