CardPolo

US credit card devaluations

16 cuts we have reported for cards in the US, newest first. 7 have not taken effect yet. Every row links to our write-up and its source.

  • Chase 5
  • American Express 4
  • Bilt 2
  • Citi 2
  • Capital One 2
  • Southwest 1
  • Wells Fargo 1
  • Bank of America 1

Coming up

Announced, not yet in effect. Soonest first.

Upcoming devaluations
Takes effectBankWhat changedSource
Nov 15, 2026ChaseChase Sapphire Reserve for Business caps 3x on advertising at $1M a year from 15 Novemberawardwallet.com
Jan 1, 2027BiltBilt cuts World of Hyatt transfers from 1:1 to 4:3 on 1 January 2027, with no exception for top-tier membersdoctorofcredit.com
Jan 1, 2027ChaseUnited drops flight-count status in 2027 and raises Premier 1K to 32,000 PQP
Chase United Explorer
awardwallet.com
Jan 1, 2027SouthwestSouthwest Companion Pass: card welcome bonuses stop counting from 1 January 2027southwest.com
Jan 1, 2027BiltBilt 2027: 4% Bilt Cash ends for new cardholders, hotel credits become Bilt Cash, hotel redemptions drop to twice a yearnewsroom.biltrewards.com
Feb 17, 2027American ExpressAmex Business Gold limits 4x on ads and wireless to named merchants from 17 February 2027
Amex Business Gold
americanexpress.com
Feb 17, 2027American ExpressAmex Business Platinum limits 2x shipping and the wireless credit to named companies from 17 February 2027
Amex Business Platinum
americanexpress.com

Every cut we have reported

All reported devaluations
Takes effectBankWhat changedSource
Feb 17, 2027American ExpressAmex Business Gold limits 4x on ads and wireless to named merchants from 17 February 2027
Amex Business Gold
americanexpress.com
Feb 17, 2027American ExpressAmex Business Platinum limits 2x shipping and the wireless credit to named companies from 17 February 2027
Amex Business Platinum
americanexpress.com
Jan 1, 2027BiltBilt cuts World of Hyatt transfers from 1:1 to 4:3 on 1 January 2027, with no exception for top-tier membersdoctorofcredit.com
Jan 1, 2027ChaseUnited drops flight-count status in 2027 and raises Premier 1K to 32,000 PQP
Chase United Explorer
awardwallet.com
Jan 1, 2027SouthwestSouthwest Companion Pass: card welcome bonuses stop counting from 1 January 2027southwest.com
Jan 1, 2027BiltBilt 2027: 4% Bilt Cash ends for new cardholders, hotel credits become Bilt Cash, hotel redemptions drop to twice a yearnewsroom.biltrewards.com
Nov 15, 2026ChaseChase Sapphire Reserve for Business caps 3x on advertising at $1M a year from 15 Novemberawardwallet.com
Oct 25, 2026CitiFormer Barclays Aviator cardholders lose their grandfathered Citi perks on 25 Octoberdoctorofcredit.com
Oct 1, 2026ChaseChase cuts Sapphire Preferred → Hyatt transfers from 1:1 to 4:3 (a ~25% haircut)
Chase Sapphire Preferred
thepointsguy.com
Oct 1, 2026ChaseChase Ink Business Preferred loses the 1:1 Hyatt transfer too, dropping to 4:3 on October 1, 2026
Chase Ink Business Preferred
frequentmiler.com
Sep 25, 2026Wells FargoWells Fargo stops letting you gift rewards to another cardholder on 25 September, and your balances stop pooling automatically
Wells Fargo Active Cash, Wells Fargo Autograph, Wells Fargo Reflect
frequentmiler.com
Sep 20, 2026CitiCiti's Strata cards switch to once-per-lifetime welcome bonus language (was 48 months)
Citi Strata Premier
doctorofcredit.com
Aug 15, 2026Chase, American Express, Capital OneChase Sapphire Lounges left Priority Pass and LoungeKey on 15 August 2026, and your Priority Pass got quietly smaller
Chase Sapphire Reserve, American Express Platinum, Capital One Venture X
awardwallet.com
May 27, 2026Bank of AmericaBank of America's 75% rewards boost now needs $1M in assets, up from $100k
Bank of America Customized Cash, Bank of America Premium Rewards, Bank of America Travel Rewards
frequentmiler.com
Feb 1, 2026Capital OneCapital One Venture X: authorised users cost $125 a year for lounge access, and free guests now need $75,000 of spend
Capital One Venture X
onemileatatime.com
Jan 2, 2026American ExpressAmex Platinum annual fee jumps to $895 (from $695), a 29% increase
American Express Platinum
thepointsguy.com

Launches and improvements are in US card news. Holding one of these cards? My cards shows which of your cards a change touches.