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 some Pay Yourself Back options as far into March 31, 2022, adding dining rewards and giving cardholders the opportunity to increase the value of their Chase rewards for eligible charitable contributions.

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 have varying expiration dates.

Chase Sapphire cards

Until March 31, 2022, Sapphire Preferred points are worth 25 percent for purchases with Airbnb, as well as with Away through awaytravel.com. Sapphire Reserve points are worth 50 percent more for purchases with Airbnb and Away purchases through awaytravel.com. Plus, Reserve cardmembers will continue to have the option to redeem in the category of dining at restaurants (including takeout and eligible delivery services).  Both Sapphire cards will continue to redeem points at 25 percent and 50 percent more for donations to a dozen select charitable organizations.

Chase Freedom cards

If you have a Chase Freedom, Chase Freedom Flex, Chase Freedom Unlimited or Chase Freedom Student credit card, your points are worth 25 percent more when redeeming for donations to a dozen select charitable organizations through December 31, 2022.

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, charitable contributions and advertising purchases made with social media sites and search engines. These categories are effective until December 31, 2021.

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 eligible charitable contributions through December 31, 2022.

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 categories expire.