Details
Written by: RJ
Chase has sent notice to cardholders of new restrictions on cashing out rewards.
Beginning 3/27/26, you will no longer be able to redeem for a cash back deposit from your Chase Freedom®, Chase Sapphire®, or Chase Ink® credit card(s) to an account held by a financial institution other than Chase. You can continue to redeem for a cash back deposit to an eligible U.S. Chase account or redeem your rewards as an account statement credit.
Thoughts
This seems understandable, yet petty. Suppose one could still cash out as a statement credit and then phone in to get a refund check cut.
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Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.