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.