Key takeaways

  • Chase Pay Yourself Back lets select cardholders use their points for better redemptions in everyday categories.
  • The promotion allows cardholders to get 25 percent to 50 percent more value for their points when redeeming for certain purchases.
  • As a Freedom Unlimited cardholder, it's also possible to maximize this benefit.

Chase Pay Yourself Back is a dynamic rewards redemption option that allows select Chase cardholders to use their points for better redemptions in everyday categories. Over the past few years, Chase has extended their Pay Yourself Back promotion and added new categories several times.

Cardholders with the Chase Freedom Unlimited®*, in particular, can currently use Pay Yourself Back to redeem toward eligible charities through Dec. 31, 2023, at a heightened redemption value. Read on to learn more about the program and how you can maximize this benefit as a Freedom Unlimited cardholder.

What is Chase’s Pay Yourself Back feature?

The Chase Pay Yourself Back feature offers another way to redeem your points for more value than you would otherwise. While this promotion lets cardholders get 25 percent to 50 percent more value for their points when redeeming for certain purchases, keep in mind that Chase cards always let you redeem for statement credits at a rate of 1 cent per point.

Pay Yourself Back redemption rates for Chase Freedom Unlimited cardholders

Pay Yourself Back lets cardholders with the Chase Freedom Unlimited get 25 percent more value for their points when redeeming within eligible categories. This means that, instead of getting 1 cent per point in value when redeeming rewards, cardholders get 1.25 cents per point in value in eligible categories.

What are the current Pay Yourself Back categories for the Chase Freedom Unlimited?

Currently, Chase Freedom Unlimited card holders get 25 percent more value when redeeming their points for contributions to select charities. This promotion is being offered through Dec. 31, 2023.

Charities that qualify for this superior redemption rate include:

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

*Offers support toward Ukraine relief efforts

How to Pay Yourself Back as a Chase Freedom Unlimited cardholder

Redeeming your rewards through Chase Pay Yourself Back is easy. If you have a rewards credit card that qualifies for this promotion, you can get started by logging in to your online account management page at Chase.com and navigating to the Chase Ultimate Rewards section of your account. From there, take the following steps:

Step 1: Click on “Earn/Use” in your rewards account and scroll down to where it says “Pay Yourself Back.”

Step 2: You’ll be able to choose among charges you’ve made with eligible charities within the last 90 days.

Step 3: Decide on the dollar amount you want to redeem through the promotion, keeping in mind that you can redeem your rewards for your entire charitable contribution or just part of it. If you donated $100 to the American Red Cross but don’t have enough points to cover the entire charge, that’s perfectly fine.

Step 4: Confirm the amount you want to redeem through Pay Yourself Back and hit “Complete.”

Is using Chase’s Pay Yourself Back feature worth it?

If you plan to make charitable contributions to an eligible charity that partners with Chase for this promotion, then using your card to make that donation can be worth it. After all, you can get more value for your rewards when you redeem this way, and you may be able to donate more as a result.

However, keep in mind that the Chase Pay Yourself Back promotion is more generous with certain cards. For example, the Chase Sapphire Reserve® is currently offering 1.5 cents per point toward Pay Yourself Back charity redemptions (through Dec. 31, 2023).

For more information on which cards offer the feature, read through our guide to Chase’s Pay Yourself Back or visit your online account.

The bottom line

If you have the Chase Freedom Unlimited and don’t have an immediate need for your points, you can donate to charity then reimburse yourself through the Chase Pay Yourself Back tool. Through Dec. 31, 2023, you’ll get 25 percent more value for your points when you do.

This means that a $100 donation to Habitat for Humanity or the American Red Cross could be wiped from your credit card charges with just 8,000 points. If you want to give back more than you have in the past, this is a great way to do just that.

*The information about the Chase Freedom Unlimited® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.