Chase ‘Pay Yourself Back’ Extended, New Higher Value Statement Credit Category Added

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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.

(HT: robb)

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Editorial note: any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Comments made in response to this post are not provided or commissioned nor have they been reviewed, approved, or otherwise endorsed by any bank. It is not the responsibility of advertisers Citibank, Chase, American Express, Barclays, Capital One or any other advertiser to ensure that questions are answered, either. Terms and limitations apply to all offers.

Comments

  1. I would state it became popular because of lowered travel demand.going forward over the few years.
    More importantly the over pricing of airline mile redemptions
    I now use cash back cards primarily
    After decades I have far less interest in these FF programs

  2. Just an observation, not a contradiction. No one with a Sapphire Reserve card should ever transfer points to Southwest, because you will always get better value thru the Chase travel portal. And right now, paying cash gets you 1.5 cents plus the miles you earn on the flight plus Chase Points. With the recent Southwest devaluation, even the Preferred card is roughly a wash between cash and a points transfer.

  3. I just checked my accounts, and Annual Fee is NOT a reimbursable category. Too bad, since I just paid the AF on my CSP last month. Does anybody else see that category?

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