The very popular Chase Pay Yourself Back program has changed a bit. Now there are new redemption options as well as the loss of some big favorites. Read it here
While travel cards have been known to provide points for, you know, “travel,” the situation with the coronavirus last year changed some of that and that included issuers like Chase allowing points to be used. – at the same value – on things other than travel. Now, they have slightly modified the “Pay Yourself Back” program and added new categories and redemption options. Here they are!
Chase changes Chase’s “refund” options
Read: How To Turn Chase Sapphire’s Favorite Offer Into $ 1,250 Into Easy Buyouts
For a long time, the options on the Favorite Chase Sapphire and the Chase Sapphire reserve were intended for restaurants, grocery stores, and home improvement stores. These redemption options meant that you could use your Ultimate Reward points to redeem purchases in those categories at a redemption rate of 1.25 cents per point (Favorite Chase Sapphire) or a refund of 1.5 cents per point (Chase Sapphire Reserve).
My favorite way to pay for travel last year
I really loved it and it has become my main means of paying to travel with my Ultimate Reward points – use Ultimate Reward points to reimburse me for my grocery shopping at 1.5 cents per point, then use the savings I had now to purchase travel directly with the airline / hotel. It was a win / win because during this time in particular it’s great to book directly with the travel provider and I was earning points on the trip – which I wouldn’t have if I had used the Ultimate points. Reward directly to travel.
Now, after 18 months of these categories, Chase is changing the redemption options. Some people may be happy while others will miss out on the now abandoned options.
New reimbursement options from Chase
The new redemption options for Chase cards are:
- Chase Ink Business Preferred and Ink Plus
- Categories updated from October 1 to December 31, 2021: Cardholders who use Pay Yourself Back can continue to redeem 25% more points on qualifying business expenses in the following categories: shipping, internet, cable and telephone services and charitable contributions. The new categories will also include: ad purchases made with social media sites and search engines.
- Chase Ink Cash, Business Cash and Unlimited
- Categories updated from October 1 to December 31, 2021: Cardholders who use Pay Yourself Back can continue to redeem points 10% more on Internet, cable and telephone services, and 25% more value when redeemed for qualifying charitable contributions.
- Favorite sapphire and reserve
- Categories updated from October 1 to March 31, 2022: Sapphire Preferred Points are still worth 25% more and categories will now be purchases with Airbnb, as well as Away through awaytravel.com. Sapphire Reserve points are always worth 50% more and will also have access to Airbnb and Away purchase categories via awaytravel.com, plus Reserve cardholders will continue to have the option to redeem in the restaurant meals category (including eligible take-out and delivery services). Both Sapphire Cards will continue to redeem 25% and 50% more points for donations to a dozen selected charities.
- Freedom, Flex Freedom and Unlimited Freedom
- Continued until December 31, 2021: Points are worth 25% more when redeemed for donations to a dozen selected charities.
So the Chase business card categories will remain, but with a few more options. However, for the Favorite Chase Sapphire and holders of the Chase Sapphire Reserve card, the option to reimburse you for grocery shopping and home improvement store purchases is now gone. In its place is the option of exchange for Away and Airbnb luggage. For Chase Sapphire Reserve holders, they can also continue to redeem for meals and both cards can be redeemed for charity.
Final result
There is no doubt that the grocery and home improvement store options were losers for Chase. After all, they were reimbursing cardholders directly with no lower negotiated rates (as they may do with travel or transfer partners) and in these two categories it was possible to buy gift cards and then you get even more money to use “for free”.
But, if you’re a big Airbnb fan, this new option will help you redeem your Chase Ultimate Reward points for this type of accommodation instead. Of course, you can continue to trade directly through the portal for hotels, but you lose the elite credit and the benefits that come with it. You can also continue to transfer to Marriott, Chase, and IHG, but you might find that you can get more consistent value with the Airbnb option, as it’s 1.25 cents or 1.5 cents on something. thing that you would actually need to use money for.
Chase Sapphire Preferred – 100,000 point bonus offer, valued at $ 1,250 for groceries, dining, travel and more!
The popular Favorite Chase Sapphire card has a special bonus offer – 100,000 points! This gives this offer a value of at least $ 1,250 in travel, groceries, meals or home renovations!
- Earn 100,000 points after spending $ 4,000 in three months
- Transfer points to popular airlines and hotels for maximum value!
- Use points with the Pay Yourself Back feature to pay for groceries, home renovations and meal purchases
- Earn 2x points on all trips and meals!
- $ 95 annual fee
- Application link (this is an affiliate link that supports the site)
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