Late last week I received a letter for both of my Chase Cash Plus Rewards credit cards stating that I would no longer be earning 5% back for my purchases made at superstores, warehouse clubs, and discount stores. This really sucks because my family and I do almost all of our shopping at Wal-Mart and it was just amazing how fast we racked up the rewards. Nearly all our Christmas shopping, home supplies, etc getting 5% back was a big deal.

In the past, you may have earned 5 points on purchases made at superstores, warehouse clubs, and discount stores. Since these merchants are not recognized as gas stations, stand alone grocery stores, and drug stores, purchases made at these stores will now qualify to earn 1 point per $1 spent. This change will be effective your May 2007 statement. Please be assured that your maximum point accumulation and other rules for your rewards program remain unchanged.

I knew this was too good to be true and would come to an end some day, but I guess I’m just glad it lasted for the 2 years or more that it did. I’m sure Wal-Mart isn’t too excited about this change as I’m sure I’m not the only one who knew about this little glitch in the system and I’m sure people are now going to change their shopping habits (at least grocery). Which to be honest, Wal-Mart’s produce never seemed to be that high quality so grocery shopping somewhere else won’t be the end of the world for me. It’s just getting 5% back on a TV, wheel borrow, or basketball hoop that I’m going to miss.

Irregardless it’s still probably the best rewards card available as the days of 5% rewards on anything for any longer than an introductory period are gone. Unfortunately I don’t think you can get the Chase Cash Plus Rewards card anymore from Chase. They took it off their website a long time ago and the only way you could get it was by applying at a local Chase bank branch. I’m not sure you can do that anymore either. Either way short of this change, they seem to be honoring the terms of the original program and 5% back on all groceries, gas, and drugs is still a good deal.