Can't save a product in Admin after upgrading Magento to MCE 1.8+ / MEE 1.13+

If you just upgraded Magento to MCE 1.8+ or MEE 1.13+ and saving a product in Admin throws an error like:

SQLSTATE[21S01]: Insert value list does not match column list: 1136 Column count doesn't match value count at row 1
You have 2 options:
  1. Update MageRewards to latest version (recommended). MCE 1.8+ and MEE 1.13+ are officially supported only starting with version 1.7.8.0 of MageRewards.
  2. Delete rule_hash column from catalogrule_product_price table (only if you are running at least MageRewards 1.6.0.6).

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