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Chase introduced ‘Pay Yourself Back’ last year as a temporary feature on some cards geared towards travel, while people weren’t traveling. It increased the flexibility of points, allowing you to redeem at an increased rate for certain everyday charges you were likely still making during the global pandemic.
It became popular, and tempting as an alternative to using points for paid travel or transferring them to airline or hotel loyalty programs, although I haven’t used it myself – still anchored towards saving my points for transfers to airline miles.
- Airlines: United MileagePlus, British Airways Executive Club, Air France KLM Flying Blue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, Virgin Atlantic Flying Club, Iberia Plus, Aer Lingus AerClub, Emirates Skywards, JetBlue TrueBlue
- Hotels: World of Hyatt, Marriott Bonvoy, IHG Rewards Club
Back in September Chase announced that Chase Sapphire Preferred® Card and Chase Sapphire Reserve® cardmembers could use their points against charges at grocery stores, home improvement stores and dining (including takeout and delivery services) as well as certain charitable contributions through April 30, 2021.
That’s been extended to September 30, 2021 and now Chase shows me that I can redeem against my annual fee as well. The annual fee and charities categories are eligible through December 31, 2021. It looks like using points towards annual fee is available for Sapphire Reserve (and J.P. Morgan Reserve) but not Sapphire Preferred.
Chase Sapphire Reserve’s points are worth 1.5 cents apiece (like when used through the Chase travel portal) while Preferred card points are worth 1.25 cents apiece in these categories.
Looking through my own list of eligible charges, the dining category includes DoorDash and Uber Eats. I’m not sure if it’s dining or grocery, but the place online where I order coffee beans counts as well. And even a food purchase inside the American Airlines Admirals Club shows up as an eligible purchase I can use points against at 1.5 cents apiece. (Purchases appear to redeem against for 90 days.)
The Chase Sapphire Preferred® Card currently has its best public initial offer ever at 80,000 bonus points after $4,000 spent on purchases in the first 3 months from account opening, plus up to $50 in statement credits towards grocery store purchases within your first year of account opening.
Chase Sapphire Reserve® also has its best initial bonus offer since it first launched, 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
CitiBusiness® / AAdvantage® Platinum Select® Mastercard® Earn 65,000 AAdvantage miles.