Guide to Chase’s Pay Yourself Back

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If you have a Chase Sapphire credit card, you probably already know that you can increase the value of your Chase Ultimate Rewards points by redeeming your points for travel booked through Ultimate Rewards—but many Chase cardholders are unaware that they can also increase the value of their Ultimate Rewards through Chase’s Pay Yourself Back program.

With the coronavirus pandemic curtailing many Americans’ travel plans, Chase decided to give Sapphire, Freedom and Ink cardholders an additional opportunity to take advantage of their hard-earned Ultimate Rewards.

Chase’s Pay Yourself Back feature allows cardholders to increase the value of their Ultimate Rewards by redeeming points or cash back for statement credits toward popular spending categories, including grocery purchases and charitable donations.

Plus, Chase just expanded the Pay Yourself Back program to include dining purchases—giving you even more opportunity to increase the value of your Ultimate Rewards and save money.

Want to know more about Chase’s Pay Yourself Back? We’ve put together a guide to help you navigate Chase’s bonus categories and maximize your savings.

What is Chase’s Pay Yourself Back feature?

Chase’s Pay Yourself Back program allows Sapphire, Freedom and Ink Business cardholders to increase the value of their Chase Ultimate Rewards by redeeming points or cash back for statement credits in select spending categories. Purchases must have been made within the past 90 days to qualify for Pay Yourself Back, and bonus categories are subject to change—which gives cardholders an incentive to maximize their Ultimate Rewards through frequent redemptions.

Chase recently extended Pay Yourself Back through Sept. 30, 2021, adding dining rewards and giving cardholders the opportunity to increase the value of their Chase rewards every time they use Lyft’s Fund a Ride Program to provide free rides to people in need.

Which cards allow Pay Yourself Back?

Want to know which Chase credit cards offer Pay Yourself Back? If you have a Sapphire, Freedom or Ink Business credit card, you can use Pay Yourself Back to increase the value of your rewards.

Here’s the list of Chase cards that include Pay Yourself Back:

Which purchases can I pay myself back on?

Chase’s Pay Yourself Back categories differ depending on what type of Chase credit card is in your wallet. Here’s a breakdown of how Chase Sapphire, Chase Freedom and Chase Ink Business cards reward Pay Yourself Back purchases—and keep in mind that these Pay Yourself Back spending categories only apply through Sept. 30, 2021.

Chase Sapphire cards

If you have the Chase Sapphire Preferred or Chase Sapphire Reserve credit card, your points will increase in value when redeemed for statement credits in the following shopping categories: grocery stores, dining at restaurants (including takeout and eligible delivery services), home improvement stores, select charitable organizations and Lyft Fund a Ride purchases.

Chase Sapphire Preferred points will increase by 25 percent, and Chase Sapphire Reserve points will increase by 50 percent, which is identical to the point bonuses you receive when you redeem your Chase Sapphire rewards for travel booked through Chase.

Chase Freedom cards

If you have a Chase Freedom, Chase Freedom Flex, Chase Freedom Unlimited or Chase Freedom Student credit card, your Pay Yourself Back categories include grocery stores (excluding Walmart and Target), select streaming services and Lyft Fund a Ride purchases. Plus, you can use Chase’s newly added dining bonus to increase the value of your Ultimate Rewards by 10 percent when redeemed for up to $250 in dining purchases.

Chase Ink Business cards

If you are a freelancer or small business owner with a Chase Ink Business Plus or a Chase Ink Business Preferred credit card, your points are worth 25 percent more when redeemed for shipping, internet, cable and phone services, home improvement purchases and Lyft Fund a Ride purchases.

If you have a Chase Ink Business Cash or an Ink Business Unlimited card, your points are worth 10 percent more when redeemed for internet, cable and phone services. Points are worth 25 percent more when redeemed for Lyft Fund a Ride purchases.

How does Pay Yourself Back work?

If you want to increase the value of your Ultimate Rewards points through Pay Yourself Back, start by logging into your Chase online account or opening the Chase Mobile® app. From there, access Chase Ultimate Rewards and select the Pay Yourself Back redemption option.

If you made any purchases in the past 90 days that are eligible for Pay Yourself Back, Chase will give you the opportunity to redeem your Ultimate Rewards points for statement credits against those purchases.

Remember, your points increase in value when redeemed through Pay Yourself Back—so if you have a Chase Sapphire Preferred card with 1,000 Ultimate Rewards points, the 25 percent value boost means you’ll be able to redeem those points for $125 in qualifying statement credits.

The bottom line

Chase’s Pay Yourself Back program allows select Chase cardholders to increase the value of their Ultimate Rewards points when redeeming them for purchases in popular shopping categories—making Pay Yourself Back an excellent way to maximize your Ultimate Rewards points while simultaneously lowering your credit card bill.

Now that Chase has added dining to its list of Pay Yourself Back categories, many cardholders’ Ultimate Rewards points have become even more valuable. If you have a Sapphire, Freedom or Ink Business card in your wallet, make sure you take advantage of Pay Yourself Back—and try to claim as many Pay Yourself Back rewards as possible before the end of September.