There have been several big rumors floating around the blogosphere recently regarding changes to the business card offerings from Chase. These have included rumors of a new product, possible changes to bonus categories, and the possible elimination of one of Chases’ current offerings. We now have official confirmation from Chase of exactly what is in store.

Chase Ultimate Rewards is a great program with many fans. Just like the American Express Membership Rewards and Citi ThankYou programs, Ultimate Rewards offer multiple ways to redeem points. It is the only program that allows easy cash redemption at 100:1, but it mostly shines on travel redemptions.

If you like to travel, you might want to avoid some common mistakes in order to stretch your dollars. These mistakes are easy to make because the Ultimate Rewards earning structure is a bit complicated.

With so many good travel credit cards on the market, it can sometimes be difficult to decide which ones to keep in your wallet long-term. If you keep too many, you will end up paying a significant amount of money in annual fees which may end up costing you more than the value you receive from these cards. On the other hand, if you cancel a card and later decide you would like to have it again, you may be prevented from getting that card again due to Chase’s much-maligned 5/24 rule.

If you’re looking for a credit card that’s part of a major rewards program that gives you the flexibility to transfer points to several different airlines, you should consider the Chase Ink Plus Business and American Express EveryDay Preferred cards.

Chase is tightening restrictions on credit card applications. They are limiting the number of new cards a customer can get to five within a 24-month period. So if you apply for a sixth new card in a two-year period, Chase is very likely to turn you down.