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The “Chase Pay Yourself Back” feature was extended up until 2021, but that’s not all, because more Chase credit cards will also be eligible for this feature.
There was a widespread travel hiatus both in the USA and other countries during the peak of Covid-19 so this is why Chase rolled out the Pay Yourself Back tool for its Chase Sapphire Reserve and Chase Sapphire Preferred cards in order to make them relevant amidst the pandemic.
In fact, it’s not just Chase because almost all major credit card issuers have also made a few changes to the features of their travel credit cards.
Chase Pay Yourself Back Extended & Expanded
It was first launched in May and was originally scheduled up until September 30, 2020. The purpose was to allow Chase Sapphire cardholders to redeem their Ultimate Rewards points towards purchases made at restaurants (includes takeout and delivery, grocery stores, home improvement stores), and eligible charities.
Chase decided to extend the promotion through April 30, 2021, and even expanded it to the Chase Freedom and Chase Ink credit cards.
And not only that, because up until April of next year, the Sapphire Reserve cardholders will still be earning 1.5 cents/point and Sapphire Preferred cardholders will earn 1.25 cents/point for redemptions made on the “Pay Yourself Back” tool.
Eligible Chase Credit Cards
With the Chase Pay Yourself Back extended to 2021 and expanded to more Chase credit cards, cardholders will now have more flexibility when it comes to redemptions.
This is great news for new applicants because they’ll have more value for their points towards groceries, restaurant purchases, home improvement purchases, and eligible charities.
Here are some of examples of eligible charities where you can use the Pay Yourself Back tool on:
- American Red Cross
- NAACP Legal Defense and Education Fund
- National Urban League
- Habitat for Humanity
- International Medical Corporation
- United Way
- Thurgood Marshall College Fund
- United Negro College Fund
- World Central Kitchen
- Equal Justice Initiative
- Feeding America
- Leadership Education Fund
Meanwhile, here’s an overview of the eligible Chase credit cards for the Pay Yourself Back feature:
- Chase Freedom (not available for new applicants)
- Chase Freedom Unlimited
- Chase Freedom Flex
- Chase Sapphire Preferred
- Chase Sapphire Reserve
- Chase Ink Business Preferred
- Chase Ink Plus Business Card
There’s a possibility that Chase would go beyond the April 2021 extension (or even add more categories) as they’ve hinted a few remarks about this. Chase said, “Categories and redemption values will evolve over time to continue to provide the most relevant and practical value for cardmembers.”
However, cardholders should take note that not all eligible cards have the same categories and here are more details about it.
Chase Sapphire Cards
The Chase Pay Yourself Back feature was initially extended to Sapphire cardholders for dining, grocery stores, home improvement stores, dining (includes restaurants, takeout, and delivery), and eligible charities.
Preferred cardholders will earn 1.25 cents/point which is worth 25% more points while reserve cardholders will earn 1.5 cents/point which is worth 50% more points.
Chase Ink Cards
The popular Chase Ink business cards have also been included in the fold, however, the redemption categories are slightly different.
Chase Ink Business Plus and Chase Ink Business Preferred cardholders can use their UR points towards online advertising, shipping expenses, and to the eligible charitable organizations mentioned above. The points of your Chase Ink cards are valued at 1.25 cents/point towards these categories.
Chase Freedom Cards
The Chase Freedom, Freedom Flex, and Freedom Unlimited cards were given limited categories where they can use the Pay Yourself Back feature. They can only use their points on the eligible charities mentioned above.
Whenever you donate to any of those charities, you can cover your donations with points.
How To Use The “Pay Yourself Back” Tool
After you’ve made eligible purchases using any of the eligible credit cards mentioned above, just sign-in to your Ultimate Rewards account to access the “Pay Yourself Back” tool.
You can do it on your desktop or even on your phone using the Chase mobile app. After that, just pick any eligible transaction you’ve had on our card in the last 90 days and redeem your points to deduct a portion or the entire amount on your purchase.
You can see in the image above that points are deducted from your account and you’ll get a statement credit for it in about three business days.
Why Is The Chase Pay Yourself Back Tool Exciting?
If you’re a first-time Chase cardholder, you need to know that you can only use your Ultimate Rewards points either through transfer partners or redeeming rewards on the Chase Travel Portal. And Sapphire Reserve and Preferred cardholders were able to get 1.5 cents/point and 1.25 cents/point respectively for redemptions.
Now, with the arrival of the Pay Yourself Back tool, eligible cards will now have the ability to redeem points on everyday purchases at the same points value. For example, Chase Sapphire Reserve cardholders can use their cards for restaurant purchases and then pay it later using their points at a rate of 1.5 cents/point.
Frequent spending on these Pay Yourself Back categories is like having the full value for your points while still being able to transfer points to partners.
If you have multiple Chase cards at hand, just remember that you can get more value if you’re able to move your points from your other cards to your Sapphire Reserve account before redemption. You can sign up for our travel concierge if you need credit card and travel assistance. It’s one year of unlimited consultation so you can maximize the features of your cards.
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