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Update: This post was written in error. The email shown below is being sent out to legacy INK Cash members who’s cards weren’t part of Ultimate Rewards and couldn’t transfer to other UR cards at all. There is no change to ordinary INK Cash cards. Oops!

Chase is sending out an email to their INK Cash cardholders about a positive change coming January 29, 2017:

On January 29th, 2017, your Ink Cash® Rewards will become a part of Chase Ultimate Rewards! Your Cash Back rewards that have not already expired will automatically transfer to Chase Ultimate Rewards where you’ll have even more benefits and options

Currently, INK Cash points are only valid for cash back unless you transfer them to a premium card like the INK Plus, INK Preferred, CSR, 0r CSP. Starting January 29th, these points will work like premium points which can be redeemed for travel. Even points previously earned will be able to be transferred. No other fee-free Chase card has that capability.

My understanding is that these points will function exactly like other Chase premium cards, and will be able to be transferred to travel partners + be redeemed at 1.25 cents-per-point. We’ll have to wait for more details from Chase to verify for certain.

The big question is whether this is a harbinger of things to come for the Freedom and Freedom Unlimited cards to become part of Ultimate Rewards as well. My personal guess is that this will not happen. The INK Cash move is part of a consolidation on the business card front, and the Freedom cards will continue being cash back cards.

Most of us have at least one premium card so it doesn’t really matter much, but some people don’t – especially those newer to the hobby since Chase now doesn’t approve cards easily. Also, if you don’t max out your INK Plus, you’ll be able to save the annual fee by downgrading to INK Cash, and still maintain the ability to transfer.

Hat tip to Matt