Chase Changes Rules On Ultimate Rewards Transfers

Some bad news coming from Chase. I just received a secure message from them regarding my Ink Bold Business Card, but it is actually about the Ultimate Rewards program. Starting this Sunday, November 15th, they are implementing changes to the Chase Ultimate Rewards® point transfer program, limiting transfers to frequent travel programs of authorized users on the account.

chase_ultimate_rewards



Here’s the text of the notice:

We are making changes to the Chase Ultimate Rewards® point transfer program.



Here are a few things you need to know:

  • Starting November 15th, when you transfer points to participating frequent travel programs, you can only transfer points to yourself or an owner of the company who is listed as an authorized user on your card account.
  • If you previously saved your frequent travel program numbers on Chase Ultimate Rewards, you will need to reenter them.
  • Please make sure the name on your Chase account matches the name on your frequent travel program accounts.

To view the current Rewards Program Agreement, click here.

We apologize for any inconvenience. Thank you for being a valued customer.

In the terms they also describe how you can lose your points and on of the reasons is if they believe that you’ve misused the program in any way, for example:

  • by buying or selling points
  • by moving or transferring points to an ineligible third party or account
  • by repeatedly opening or otherwise maintaining credit card accounts for the purpose of generating rewards

This is not good at all and is the last restriction coming from Chase who has been cracking down on MS lately.

2 thoughts on “Chase Changes Rules On Ultimate Rewards Transfers

  1. I do not quite fully understand Chase’ statement about loosing points if

    “…by repeatedly opening or otherwise maintaining credit card accounts for the purpose of generating rewards …”

    Please someone helps to explain:

    1. “…Repeatedly opening credit card accounts…”:
    * Does it mean if I keep opening & closing account to accumulate points?
    * It’s ridiculous because the card company can reject my application.

    2. “…Maintaining credit card accounts for the purpose of generating rewards…”
    * It is also ridiculous: without rewards, I would not use their cards.
    * If I keep using the cards to purchase gift cards at Office Max or Staple to get 5% UR points, say up to $10,000/month (possible, really), can Chase close my credit cards and forfeit all of the UR’s I have earned?

    Thank you.

    • I guess they will go after people that really go overboard first. If you put some “normal” spend on the cards and you don’t close them as soon as you receive the sign up bonus, you should be fine for now.

      But it does mean that they are looking a bit more closely to MS, which is not a good thing.

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