Based upon previous threads there seems to be many here who have Chase bank accounts so heads up - if you're planning to use your Chase debit card to purchase camera gear with the intention of earning "Ultimate Rewards" points at the same time, be advised Chase is making changes to the rewards program - read below.
Congress recently enacted a new law known as the Durbin Amendment that significantly impacts debit cards.
As a result of this law, we will be changing our debit rewards program. After July 19, 2011 you will no longer earn points on purchases you make with your Chase Ultimate Rewards Debit Card.
Importantly, the points you have already earned will not expire. To take advantage of other great ways to get more value from your everyday banking, just stop by any branch and talk to a banker for details.
What is changing with your Chase Ultimate Rewards Debit Card Program:
After July 19, 2011, when you make purchases with your Chase Ultimate Rewards Debit Card you will no longer earn points in Ultimate Rewards. (You will continue earning points in Ultimate Rewards for purchases made with your Chase Freedom Credit Card - see enclosed insert for additional details.)
You will no longer be charged an annual fee for your Chase Ultimate Rewards Debit Card.