I collect around 3m points a year on various Chase Inks, and move them to my CSR. The reality is, that over time the value of points has dropped significantly, due to flexible points tables by the airlines. Yes, there still may be deals from time to time, but I find myself using the Chase travel portal at 1.5 cents a point more often now, even on business class fares. So I think this “Cash Back” option at 1.5 is decent enough, and I just cashed in 1m points for $15k. Actually, I think that post 9/30 we’re going to regret we didn’t take enough advantage of this program…