The paper check has received another death knell, as it is being eliminated as a redemption option in JPMorgan Chase's Ultimate Rewards Program as the issuer encourages more consumers to request statement credits instead.

Chase informed its Chase Sapphire, Chase Freedom and Ink from Chase customers last week that they will no longer be able to receive cash rewards via mailed check starting in November. Chase's decision eliminates what it sees as a "friction" point for customers, said Manning Field, director of marketing and innovation for Ultimate Rewards.

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