I was looking at the Alliant Cu thread on a site called Fragile Deals and it was mentioned that the point value seems to have been restored...I went to Alliant's rewards link and although i don't have enough points to cash out to my checking account, i took a look at the gift cards section and sure enough...it was showing full value (ex: an AMC Theatres $50 gift card requires 5000 points)...has anyone else noticed the change and if you have the card...please check and see if you are seeing it also...
Perhaps they changed their mind when they saw a big drop in the card usage...Looks like it's back to a 2% cashback card again...
I just checked and checking/savings/statement credits are in fact again valued at $0.01/point.
From my email:
I don't have the card, but that is a great response to customer feedback and surprisingly quick.
I was surprised when I saw the email today reverting the devaluation of points. It even says I'll be credited for the points I lost when I cashed out all my points at the lower rate.
We'll never know but I wonder if it was customer complaints or just data showing people cashing out and/or ceasing usage that prompted the reversal.
While I'm happy with the change, I don't know if how much I'm going to use the card fearing that they might do it again. It would have been one thing if they had announced that they were downgrading points (like I believe USA alliance did) but instead I learned about it here on forums before Alliant announced the change (and again it was a stealth nerf initially).
My points haven't been restored yet but I realize I have to use the card for about $1500 to get the points to $50 so I can cash out and sock drawer. Again, I'm not going to risk them doing this again so I will use ASAP to get to $50 and then cash it out.
I might have kept using it but the $50 min redemption and the possibility of a.devaluation is just not with it.