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Chase once again extends Pay Yourself Back feature on eligible cards and categories

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Since Chase announced the Pay Yourself Back feature in early 2020, the issuer has extended the tool to various cards within its suite — as well as how long this money-saving tool remains available — many times.

Once again, Chase has extended its Pay Yourself Back feature’s availability for Sapphire cards and a number of Ink Business cards. Previous offers related to past dining, Airbnb and internet, cable and phone service purchases slated to expire as of June 30, 2022, are now extended through Sept. 30, 2022.

As a Chase Sapphire Preferred® or Chase Sapphire Reserve® cardholder, you can continue to get more value for your points when you redeem them toward past purchases made with Airbnb. The previous dining offer (including takeout and eligible delivery services) is only being extended for Sapphire Reserve cardholders.

In terms of business cards, owners of the Ink Business Preferred® Credit Card, Ink Business Plus®*, Ink Business Cash® Credit Card and Ink Business Unlimited® Credit Card can continue to take advantage of the internet, cable and phone services category.

Further, Sapphire, Ink and Freedom cards will also continue offering the ability to redeem points for statement credits toward past donations to select charitable organizations through Dec. 31, 2022.

What is Chase Pay Yourself Back?

With Chase’s Pay Yourself Back tool, you can redeem your rewards toward past purchases with a percentage boost (typically 25 percent to 50 percent) to the value of your points. The tool was originally announced in May 2020 and was set to expire on Sept. 30, 2020, but has since continued for Sapphire cardholders and expanded to additional Chase credit cards.

To use the Pay Yourself Back tool, select a qualifying transaction up to 90 days old. Then, redeem your points toward all or a portion of your purchase transaction and receive a statement credit.

Chase credit cards that offer the Pay Yourself Back tool

  • Chase Freedom Flex℠
  • Chase Freedom Unlimited®
  • Chase Freedom®* (not open for applications)
  • Chase Freedom® Student credit card
  • Chase Sapphire Preferred
  • Chase Sapphire Reserve
  • Ink Business Preferred Credit Card
  • Ink Business Plus* (not open for applications)
  • Ink Business Cash Credit Card
  • Ink Business Unlimited Credit Card

Further details on the Pay Yourself Back feature

All of these details can get confusing, so we’ve broken down Pay Your Back offerings by each eligible Chase card family.

Sapphire cards

Chase Sapphire Preferred cardholders’ points are worth 25 percent more when redeemed for past Airbnb purchases through Sept. 30, 2022, and 25 percent more when redeemed for select past charitable donations through Dec. 31, 2022.

Points earned with the Chase Sapphire Reserve are worth 50 percent more when redeemed for past Airbnb and dining purchases through Sept. 30, 2022, and also 50 percent more when redeemed for past charitable donations through Dec. 31, 2022.

Ink Business cards

With the Ink Business Cash and Ink Business Unlimited, your points are worth 10 percent more when redeemed for past internet, cable and phone service purchases through Sept. 30, 2022. Points are worth 25 percent more when redeemed for past charitable donations through Dec. 31, 2022.

Ink Business Plus and Ink Business Preferred cards’ points are worth 25 percent more when redeemed for past shipping, internet, cable and phone service purchases through Sept. 30, 2022. Points are worth 25 percent more when redeemed for past charitable donations through Dec. 31, 2022.

Freedom cards

Through Dec. 31, 2022, rewards earned with the Chase Freedom, Freedom Flex, Freedom Unlimited and Freedom Student are worth 25 percent more when redeemed for past charitable donations.

Note that, if you own the Sapphire Preferred or Reserve in addition to a Freedom card, you can transfer your points to those cards and use the Pay Yourself Back tool to get a 25 percent or 50 percent boost on dining purchases, Airbnb purchases or both.

Eligible charities with Pay Yourself Back include

  • American Red Cross
  • Equal Justice Initiative
  • Feeding America
  • Habitat for Humanity
  • International Medical Corporation
  • International Rescue Committee
  • Leadership Conference Education Fund
  • NAACP Legal Defense and Education Fund
  • National Urban League
  • Thurgood Marshall College Fund
  • UNICEF USA
  • United Negro College Fund
  • United Way
  • World Central Kitchen

Should you redeem your points with Pay Yourself Back?

Given that using the Pay Yourself Back tool gets you 25 percent to 50 percent more value (in most cases) for your points, you’d be hard-pressed to find a downside to doing so — especially as post-pandemic travel is still recovering and redeeming toward travel purchases is typically the most lucrative use of Ultimate Rewards points.

For more information on Ultimate Rewards points, including which Chase credit cards earn them, how much they’re worth, tips for maximizing and how to transfer your points to travel partners, consider reading Bankrate’s Chase Ultimate Rewards guide.

*All information about the Chase Freedom®and Ink Business Plus®has been collected independently by Bankrate and has not been reviewed or approved by the issuer. The Chase Freedom®and Ink Business Plus® are no longer available for applications.

Written by
Aja McClanahan
Personal Finance Writer
Aja McClanahan is an author, blogger and speaker on personal finance and entrepreneurship. Aja is the author of "How a Mother Should Talk About Money with Her Daughter."
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