Chase to Limit Cash Back Options

I got the following email from Chase yesterday:

Important: Cash Back Redemption Options

Dear Joseph Hendrix:

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.

Don’t forget, you can also redeem your points for gift cards, travel, and more. Visit ultimaterewards.com to explore all your options.

If you have questions, please call the number on the back of your card at any time.

Sincerely,

Customer Service

Frustrating, as I have two of each of the Chase Freedom Flex, Chase Freedom Unlimited, Chase Freedom, as well as one Chase Amazon Prime Visa, and I like to deposit the bonus money into my Ally account.

It’s not the end of the world, though. I’ll just have to use statement credits.

Further reading and discussion:

• Chase Credit Cards Cashback is No Longer Redeemable to External Bank Account at Doctor of Credit
• Chase cash redemptions to Chase accounts only from 3/27/2026 on Reddit