It’s not really. They do devaluations no question about that. But a zero notice change in the ratio of transfer points would be unusual and definitely cause a

It’s not really. They do devaluations no question about that. But a zero notice change in the ratio of transfer points would be unusual and definitely cause a lot of screaming. It’s not an ethical thing to do. If you tell me I can do X that helps you and then you’ll give me Y you can’t just change that. Devaluing with a little notice is a different thing entirely. Even short notice is dubious but defensible. This not so much. Of course the only thing it will do is cause people never to trust their rewards programs, giving them further rationale to ditch them.