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Chase to Remove One Redemption Option for Credit Card Cashback

DDG
DDG

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Chase to Remove One Redemption Option for Credit Card Cashback

Chase has sent out emails today informing cashback credit card holders of a change in redemption options. More specifically, the credit card issuer soon stop allowing cashback to be redeemed as a deposit into an external bank account.

You will still be able to redeem cashback for a statement credit or a deposit into a Chase bank account.

Here’s the text of the email:

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.

The change will go into effect on March 27 and likely won’t affect many Chase cardholders, and even those who may be affected will have a workaround.

If you still want to redeem cashback into a non-Chase account, then you can redeem for statement credit and then request a refund. That refund can go directly into an external account or you can request a check.

Let us know in the comments if you have used this redemption option in the past!

DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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At Miles to Memories we share the best tips, tricks and deals plus travel rants, musings, hotel, airline and loyalty program reviews and a lot more! Our goal is to help people save money so they can get out there and travel the world! Through our various blog posts, podcasts & videos we teach others how to maximize loyalty rewards, hotel & airline programs and credit cards to achieve amazing things.

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