If I'm understanding this correctly, they're only devaluing points when you redeem them for cash or transfer them to another points system. In so doing, they're effectively creating lock-in for their own points redemption programs.
The cynical part of me wonders if they timed this change to coincide with the SVB debacle in the hopes that the negative PR would be drowned out.
The cynical part of me wonders if they timed this change to coincide with the SVB debacle in the hopes that the negative PR would be drowned out.