Chase Sapphire Devaluation (long term)

[Matt]

Plenty of heads up here, but the CS (not the Preferred, as VR hunter corrects below) will be devaluing, no longer offering 2x on Travel (from 2016)

Link

HT to the comments section of Travel Blogger Buzz, if you haven't been there recently, you are missing out.

Other interesting points:

No more 25% on travel booked through ultimate rewards?
When you use points to redeem for cash, gift cards, and travel,
each point is worth $.01 (one cent), which means that 100 points
equals $1 in redemption value. Redemption values for other
reward options may be worth more or less than that.

Possible 1099s?
Your participation in the program may result in the receipt of
taxable income from Chase and we may be required to send to
you, and file with the IRS, a Form 1099-MISC (miscellaneous
income). You are responsible for any tax liability, including
disclosure requirements, related to participating in the program.

Shutting down Churners?
· we believe that you’ve misused the program in any way,
for example:
- by buying or selling points
- by moving or transferring points with or to an
ineligible third party or account
- by repeatedly opening or otherwise maintaining
credit card accounts

 

[VRHunter]

That's all talking about the fee-free Chase Sapphire card. Not the Preferred.

 

[Matt]

That's all talking about the fee-free Chase Sapphire card. Not the Preferred.

So we can still churn the Preferred?

Good catch, I noticed now that it doesn't say CSP... so maybe that will keep the travel 1x.