The Chase Fairmont card had already been closed to new applications, but existing cardholders were still able to use it for spending and earn points.
A Reddit user received a letter from Chase today.
Chase said in the letter that all Chase Fairmont cards would be forced to be converted into Chase Sapphire Preferred cards.
Original letter
Details
In the weeks before Aug. 15, Chase will mail out the new Chase Sapphire Preferred cards and card numbers will not change.
At the time of conversion, all accumulated Fairmont points will be converted to Ultimate Rewards points at a 1:1 ratio. That should be a point most people won’t mind.
If you spend $12,000 for the current calendar year before Aug. 14, this year’s free Fairmont room night will still be issued. If you have not completed the full $12,000 annual-spend requirement by Aug. 14, that spending requirement will be reduced to $6,000.
What should I do?
For many people, spending $6,000 to get one free Fairmont room night is not a bad outcome.
Since all Chase Sapphire cards are subject to the 5/24 rule, after conversion we recommend that you convert your new Sapphire Preferred to a Chase Freedom, Chase Freedom Unlimited, or Chase Sapphire Reserve card. Which card to convert to, of course, depends on your specific situation.