Chase Extends the “Pay Yourself Back” Option with New Categories for Select Cardholders
The Chase “Pay Yourself Back” program was implemented during the early part of the pandemic as a way for Chase Ultimate Rewards earning credit card holders to use their Ultimate Rewards points during a time when travel was not an option.
Ultimate Rewards points could be used to offset everyday spend in popular categories such as grocery stores, restaurants and home improvement stores at the increased redemption rate their card offered for travel redemptions.
The ability to use Chase Ultimate Rewards points for non-travel redemptions has been continued a few times since it was introduced, and now, once again, the option has been extended with new categories for select cards.
Chase Pay Yourself Back Extended
To help select Chase cardholders obtain value for the Ultimate Rewards points balances they may have, and as an incentive to not cancel cards, Chase is continuing the “Pay Yourself Back” option on the following cards with the listed categories and end-dates.
Chase Personal Cards
Sapphire Reserve and Sapphire Preferred Cards
- Charitable Contributions (select charities)
- Airbnb
- Away through awaytravel.com
Sapphire Reserve Card Only
- Restaurants/Dining (including takeout and delivery services)
The Sapphire Reserve’s redemption rate is 1.5 cents per point.
The Sapphire Preferred’s redemption rate is 1.25 cents per point.
Meaning, for example, 10,000 Ultimate Rewards points would offset $125 of an Airbnb stay on a Sapphire Preferred card and $150 of dining charges on a Sapphire Reserve card.
The Sapphire Preferred and Reserve “Pay Yourself Back” categories will be available October 1, 2021, through March 31, 2021.
Chase Freedom Cards (Freedom, Freedom Unlimited and Freedom Flex)
- Charitable Contributions (select charities)
The redemption value on the Freedom cards is 1.25 cent (10,000 points offset a $125 contribution, for example).
December 31, 2021, is the end date for the “Pay Yourself Back” option on Chase Freedom cards.
Chase Business Credit Cards
Chase Ink Business Preferred and Ink Plus Cards
- Advertising purchases made with social media sites and search engines
- Shipping
- Internet, cable and phone services
- Charitable Contributions (select charities)
The redemption value for the Ink Business Preferred and Ink Plus cards is 1.25 cents per point (10,000 Ultimate Rewards points would offset $125 of spend in the above categories.
These categories are good October 1, 2021, through December 31, 2021.
Chase Ink Cash, Business Cash and Unlimited Cards
- Internet, cable and phone services – 1.10 cents per point
- Charitable Contributions (select charities) – 1.25 cents per point
Categories and rates for these business cards are good October 1, 2021, through December 31, 2021.
Wrap Up
Extending the redemption options and time periods, Chase is showing it cares about its cardholders and wants to keep its Ultimate Rewards program relevant as we continue to see Covid-19 impact a variety of areas in our society.
With travel less of a priority (or option) as in past years, it provides one more way to productively utilize points that have been accrued.
A while back I published a piece on how to use Ultimate Rewards points to offset your everyday costs…this is another, bit more valuable, opportunity to do just that.
If you know someone who might benefit from this post, please pass it along.
