Chase devalues point redemptions on Amazon.com

Some of you may know that you can use Chase Ultimate Rewards points to buy things on Amazon.com. It used to be that 100 points = $1.00 so you were using your points at $0.01/point. This is not remarkable as the standard cash back rate is the same. So, essentially, you were benefiting from the ease of use.

I just received an email, however, devaluing the use of these points. Now, instead of 100 points = $1.00, it will take 125 points = $1.00. So each point is now worth only $0.008 (or 8/10 of one cent). While I am glad they are giving advanced warning, this makes it so much worse to use your points for this purpose.

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