Chase Cutting Out Ultimate Rewards

[tinkmom2]

I got a letter from Chase yesterday saying they are cutting out the Ultimate Rewards Debit card in June. I was using mine to get a Hyatt gift certificate in the MCO airport for when we come back from the Dream. I am a bit disappointed they are cutting out the program but it will save me $25.00 a year in fees.

 

[JDUCKY]

http://www.mybanktracker.com/bank-n...bit-card-ultimate-rewards-program-officially/

In a move that is sure upset many checking account customers, Chase (NYSE:JPM) announced today that they would be officially ending their Chase Ultimate Rewards debit card program on July 20, 2011.

After July 19, 2011, Chase customers who participate in the Ultimate Rewards program will no longer be able to earn points on purchases using their debit cards.

While Chase promises no one will lose any points already collected, the announcement comes only weeks after consolidating its checking customers to the new Total Checking account system. The new account received negative publicity after the requirements to avoid a $12 monthly fee became more difficult. Chase also increased fees for overdraft, stop payment and wire transfer services.

Near the end of 2010, MyBankTracker.com had hinted at the possibility of Chase phasing out its rewards program by February 2011. This move was delayed, after Chase made the decision to introduce the new checking structure mentioned above.

All that much happier that we're moving our banking to a credit union (and we'll be using our new Discover More card for the better cash back)

buh-bye, Chase!

 

[wdw4rfam]

Yeah- after seeing all this about Chase and debit cards, I am HOPING that they keep the Disney debit card around. I have earned $300 in Disney Dollars in 15 months just using my debit card for EVERYTHING. I also booked 3 trips using that card to get promotions before they were available to the public. I will be mighty ticked if they do away with it. But seeing that it is really similar to the Ultimate program- it doesn't look good

 

[JB2K]

Yeah- after seeing all this about Chase and debit cards, I am HOPING that they keep the Disney debit card around. I have earned $300 in Disney Dollars in 15 months just using my debit card for EVERYTHING. I also booked 3 trips using that card to get promotions before they were available to the public. I will be mighty ticked if they do away with it. But seeing that it is really similar to the Ultimate program- it doesn't look good

No, it doesn't -- and Chase has already publicly stated they will be doing-away with all rewards-based debit cards -- including the Disney card.

This is the banking industry's retaliation to Dodd-Frank, which had good intentions when it was initially conceived, but will eventually leave many consumers without services/perks they once enjoyed (such as free checking).

Thanks a lot...