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I just got that e-mail, too. Funny thing is it seems nothing more than a play on words. You can still get, for example, a $20 cash rebate for 2,000 points. 2,000 points can be earned by spending $2,000 (less if you get 5% offers) just like spending $2,000 used to get you a $20 rebate.
So what's the difference?
Oh, fer... Just when they finally let me back in from the cold.
Anyway, here's the e-mail that I got. I still haven't figured out WTH they're saying:
Dear HTSU, |
|
You'll continue to earn a total of 5% Cash Back2 in quarterly categories that change. From July 1 through September 30, 2010, enjoy 5% Cash Back on purchases up to $1,500 in the following categories3: Gas, Airlines, Auto rentals and Hotels. Sign up now! Plus, continue to get an unlimited 1% Cash Back on all your other purchases with no tiers or expirations.4 See Full details at chase.com/freedom. | ||||
Please be assured your account number, interest rate and credit limit are not impacted by this change. Plus, continue to explore more ways to get cash back at chase.com/freedom. |
Yeah I got a similar letter in the mail. As far as I can tell nothing changed. At least not since they did away with the good rewards program and went to this 5% on specific categories. Although the spending caps are much much higher than discover and there is no tier for the everyday purchases CB rate, so its still better than Discover.
"Enhancements" = "Changes to your rewards program that will greatly benefit JP Morgan Chase at your expense sans the complaints, 'cause you can't figure out what the hell we're getting at here..."
They conveniently left this part out:
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"Here's How It Works"
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C'mon, folks! This is Chase we're talking about here.
I'll give it until Halloween for this devaluation to happen (highly appropriate for Chase, they should wear masks!)
Just my "unbiased" two cents (soon to be worth 1.5 cents). Mark your calendars.
@Uborrow-Upay wrote:"Enhancements" = "Changes to your rewards program that will greatly benefit JP Morgan Chase at your expense sans the complaints, 'cause you can't figure out what the hell we're getting at here..."
They conveniently left this part out:
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"Here's How It Works"
- First, we enhance the rewards by changing to a point system...
- Next, we spend money mailing and emailing each and every one of our customers to assure them that this doesn't make a bit of difference...that this is not really a change at all...it's just the same, isn't it, except now it's "enhanced"...and that's got to be good, right?
- Then, several months from now, we devalue the points...
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C'mon, folks! This is Chase we're talking about here.
I'll give it until Halloween for this devaluation to happen (highly appropriate for Chase, they should wear masks!)
Just my "unbiased" two cents (soon to be worth 1.5 cents). Mark your calendars.
And that, my friend, is the answer to my question as to why they'd do this when it seemed the same amount of spending earned you the same rebate. Stupid me.
@Uborrow-Upay wrote:
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C'mon, folks! This is Chase we're talking about here.I'll give it until Halloween for this devaluation to happen (highly appropriate for Chase, they should wear masks!)
Just my "unbiased" two cents (soon to be worth 1.5 cents). Mark your calendars.
UBUB......your cynicism is shocking, SHOCKING!!!!
@Uborrow-Upay wrote:
- Then, several months from now, we devalue the points...
That's the only reason they would do this, you hit the nail right on the head! Hurry up and cash out those $20 refund checks before they cost 3,000 points in the near future!
Yep, that shoe finally dropped for me, too. It will soon be one of those deals where 3,000 points only gets you $25* and so on.
*eta: duh me, or gets you $20, as Mark-in-Pasadena just pointed out.
* goes in search of more caffeine *
@MarineVietVet wrote:
@Uborrow-Upay wrote:
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C'mon, folks! This is Chase we're talking about here.I'll give it until Halloween for this devaluation to happen (highly appropriate for Chase, they should wear masks!)
Just my "unbiased" two cents (soon to be worth 1.5 cents). Mark your calendars.UBUB......your cynicism is shocking, SHOCKING!!!!
I know, I know... Chase wouldn't really do anything like that...Chase is our friend...I love Chase, we all should love Chase...LOL