Chase Pay Yourself Back gives you bonus value when you use points for groceries, dining, and more — here's how it works
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- Chase's new Pay Yourself Back feature gets you more value for your points when you use them to cover select purchases.
- Specially, you'll get 50% more value when you redeem points from the , and 25% more value when you redeem points from the for grocery store, a彩平台 improvement store, and dining purchases.
- If you want to make the most of this promotion, you should consider pairing your Chase Sapphire card with another credit card from Chase. Doing so will allow you to utilize the bonus categories on each so you can rack up more rewards over time.
- Pay Yourself Back is currently slated to end on September 30, a彩平台, so don't wait too long to redeem your rewards if you're interested.
- received news that the resort credit of up to $250 their card offers can be used for dining for the remainder of the year, for example. for gas and grocery store purchases for the remainder of the year.
But and cardholders on May 31, lets customers redeem rewards for a higher rate than the 1 cent per point normally offered when redeemed for everyday purchases in specific categories.
If you have either of those Sapphire cards, you can , your points will be worth 25% more (1.25 cents apiece), and if you have the , your points will be worth 50% more (1.5 cents apiece) toward these purchases.
You can use Pay Yourself Back for eligible purchases up to 90 days after your purchase date. The Pay Yourself Back feature is currently set to end on September 30, and for now it's limited to the two Chase Sapphire cards mentioned above.
How to use Chase Pay Yourself Back
If you have the or and want to redeem points for groceries, dining, or a彩平台 improvement purchases, here are the steps you need to take.
- Log into your Chase account online
- Navigate to the
- Click on "Pay Yourself Back" under the Earn/Use dropdown menu.
- From there, you'll be taken to a list of your purchases from the last 90 days that qualify for Pay Yourself Back.
- Select any purchases you'd like to use points on.
- You'll be asked to enter the cash value of points you want to use, since you can use points to cancel out a portion of a purchase, in addition to redeeming points for the full purchase value.
- Hit "Confirm & Submit" to complete your points redemption.
- You'll receive a statement credit equal to the cash value of the points you redeemed within three business days.
What to consider before you redeem points for 1.25 cents or 1.5 cents each
Being able to redeem rewards for a higher-than-usual rate is always a good thing, but Chase Ultimate Rewards points are also incredibly valuable for travel. Here's everything you should consider before using Chase Pay Yourself Back:
If you might travel in the future, consider the value of Chase travel partners
While it may be tempting to cash in Chase points to cover your grocery bill, don't forget about the long-term value of these rewards if you plan to travel in the future.
Let's say for a moment that you have 50,000 Chase Ultimate Rewards points with the . You could utilize the Pay Yourself Back feature to cover $750 in grocery purchases made with your card, but you could also transfer these points to myriad airline partners at a 1:1 ratio to get more value.
For example, 50,000 points is often enough to cover a round-trip flight to Europe with Air France/Flying Blue that may cost well over $1,000 otherwise.
With this all being said, the advice to save points for future travel is really only applicable if you do plan to travel later. If you're facing a financial crisis, then it's likely scoring $750 in groceries would help you considerably more in the short term.
You'll still earn rewards on any purchases you erase with this feature
Remember that the Pay Yourself Back feature is just another way you can redeem your rewards, so it won't affect the earning rates you have with each Chase Sapphire card. You'll still earn 3x points on travel and dining with the and 2x points on travel and dining with the . You'll also earn 10x points on Lyft rides with the Chase Sapphire Reserve and 5x points on Lyft rides with the Preferred card.
Not only that, but you can still click through the Chase Ultimate Rewards portal to earn bonus rewards on online purchases made with participating stores. To do this, log into your Chase into, head to the Ultimate Rewards landing page, and click "Earn Bonus Points" under the Earn/Use dropdown. Then, select the store you want to make a purchase with, and click through.
Double up on the grocery benefit through the end of June
As a side note, don't forget that you'll earn 5x points on up to $1,500 in grocery spending in June with the , or 3x points on up to $1,500 in grocery spending with the . This newer promotion can help you maximize your rewards on the earning side of the equation before you redeem points for a superior redemption value.
Here's an example of how doubling up could benefit you. If you have the Chase Sapphire Reserve and you spend $1,500 on groceries in June, you would earn 7,500 Chase Ultimate Rewards points in this category alone. When you went to redeem these points to cover those grocery purchases, however, your points would be worth $112.50 due to the Pay Yourself Back redemption bonus of 50% for the Chase Sapphire Reserve card. That's like getting a 7.5% discount on your grocery spending for the month.
Pair Chase cards for even more value
If you have a Chase Sapphire Reserve or Chase Sapphire Preferred, you should also consider the prospect of applying for another Chase card that could help you maximize this benefit. This is worth considering based on the fact that Chase lets you pool all your points in one account in order to make rewards more convenient and allow you to take advantage of superior redemption options.
Imagine for a moment you have the Chase Sapphire Reserve. In that case, you could pair this card with the Chase Freedom Unlimited® to earn 1.5% cash back on all your spending, or with the Chase Freedom® to earn 5% back on up to $1,500 spent in quarterly bonus categories. Both cards also offer a sign-up bonus, and either way, you could use them to rack up more rewards over time, then move your points to your Chase Sapphire account to take advantage of the Chase Pay Yourself Back feature.
Just remember that the Chase Pay Yourself Back feature is currently set to end on September 30. If you plan to sign up for another Chase credit card in order to maximize rewards and redemptions, you should do it sooner rather than later.
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