An observation that might help those still have active flight bookings that will most likely be canceled in coming days -

You SHOULD monitor your itinerary on the airline's website, EVERYDAY. As soon as you see your booking is canceled by the airline - immediately contact the airline to opt for cash refund instead of waiting an email from Chase to tell you your flight is canceled...

A friend's UA flight LAX to PPT was not canceled until after midnight on the next afternoon departure - before that he even received UA email to check in (within the 24 hours period). He then called UA, and was able to get the refund processed with a confirmation email - which he decided to wait a bit before contact UR due to long time wait on phone. He has the proof from UA that the tickets were refunded to the original form of payment, hence he felt he did not need to be hurry.

But for those who do not monitor their upcoming flights, and then flights canceled, triggered an email from Expedia (Chase UR), it seems indeed the default option is an airline credit which most people probably dont want at this point.