Editor’s Note: This guide has been updated with the latest information. The end date for the Return Yourself categories has been extended to December 31, 2022.
Latest Pay Yourself Back categories from Chase Sapphire and Ink card members’ availability – Airbnb services, dining and internet, cable and phone – has been extended through December 31, 2022. These categories are set to end on December 30. September, but Chase confirmed with TPG the extension of the closing date. Additionally, shipping has been added as a new category to Ink business cards starting October 1st.
In the meantime, eligible charitable donations using Sapphire, Freedom and Ink cards will continue – with the previously announced end date of December 31, 2022.
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The Pay Yourself Back feature allows cardholders to redeem points for non-travel expenses at a preferential rate.
Here’s everything you need to know about using Pay Yourself Back.
What is giving back to yourself?
In 2020, Chase introduced Pay Yourself Back as a continuous redemption option in Final reward to give card players another choice of how they can redeem points. Categories have evolved over time, with the elimination of options like groceries and home repairs.
In a nutshell, the Pay Yourself Back option allows cardholders of multiple Chase cards to use points with the same redemption value as booking travel tickets. This will not lead to maximum value for your Ultimate Rewards pointsbut if you’re looking for a simple profit (or are sitting on a pile of points with no immediate use value), it could be a good choice.
Related: Best Chase Credit Cards September 2022
Which purchases are eligible for a Return to Myself?
These are the eligible categories for Pay Yourself Back which will end in December:
Chase Ink Plus card information has been independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
In addition to the above categories, all Sapphire Preferred, Ink and Freedom cardholders (incl Chase Freedom Flex and Unlimited pursuit of freedom) can continue to be redeemed at 1.25 cents per point for select charities with Pay Yourself Back through December 31, 2022. Sapphire Reserve card members can redeem for 1.5 cents per point. the point.
And if you’re interested in using your points to make a difference in UkraineThe following four options directly support humanitarian efforts there:
- International Medical Corps.
- International Rescue Committee, Inc.
- UNICEF USA.
- World Central Kitchen.
Additional list of charities for Pay Yourself Back include:
- American Red Cross.
- Equal Equity Initiative.
- Feeding America.
- Habitat for humanity.
- Education Foundation Leadership Conference.
- NAACP Legitimate Defense and Education Foundation.
- National Urban Award.
- Thurgood Marshall College Foundation.
- United Negro College Foundation.
- Unified way.
Assuming you have made a qualifying purchase above Chase Sapphire Reserve. Instead of receiving a $100 statement credit when redeeming 10,000 points, Sapphire Reserve customers will receive a $150 credit for the same points when used for a qualifying Pay Yourself Back fee . This is consistent with the rates provided on Ultimate Reward Travel exchange for that card.
Chase Sapphire Reserve cardholders can also use Pay Yourself Back to pay the annual fee.
Request a credit
The process of claiming a credit through Chase’s Pay Yourself Back program is relatively straightforward. Simply log in to your relevant Ultimate Rewards account via the mobile or desktop app and select the “Repay yourself” option in the sidebar.
Next, you’ll see a list of eligible purchases that you can redeem points for. Points can be redeemed for purchases within 90 days, at a rate of 1.5 cents per transaction Sapphire Reserve cardholder, 1.25 cents if you have Sapphire is preferred, Business ink is prioritized or Ink Plus and 1.1 cents for Ink . Business Cash and Unlimited ink business.
Next, you’ll see a list of eligible purchases that you can redeem points for. Points can be redeemed for purchases within 90 days, at a rate of 1.5 cents per transaction Sapphire Reserve cardholder, 1.25 cents if you have Sapphire is preferred, Business ink is prioritized or Ink Plus and 1.1 cents for Ink . Business Cash and Unlimited ink business.
In an example from earlier this year, I had nine qualifying internet, cable, and phone purchases (three impressions) on my Ink Plus. Just check the purchases you want to redeem and move on to the next page.
You can choose to recoup your entire purchase, assuming you have enough points to make up for it, or you can redeem a smaller amount if you wish.
From there, you can confirm the value and redemption amount and choose to complete the transaction. Your credit statement will be posted within three business days.
Statement credit options for other purchases
Chase has long offered the option to redeem points for statement credit – that’s not new. Simply log in to your Ultimate Rewards account, tap the drop-down menu and select “Refund”.
You will be given an option to enter the amount you want to redeem and where you want your reward to be sent. All cashback redemptions are fixed at 1 cent per point, only half of Valuation of TPG for Ultimate Rewards and below any of the Pay Yourself options above.
Even so, Chase’s traditional cashback option is more generous than you might expect from some other issuers. Here’s how it breaks down for some of the most common programs and cards:
Citi Prestige card information has been independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Key point
Chase’s Pay Yourself Back feature provides valuable flexibility for many cardholders. But does it make sense to redeem Chase Ultimate Rewards points at up to 1.5 cents per no-travel fee, which is still at least 25% off? TPG . 2 cent valuation?
Ultimately, that decision depends on how you plan to use your points, how many points you currently have with airline and hotel programs, and whether you would benefit substantially from statement credits. or not.
Additional reporting by Chris Dong, Stella Shon, Summer Hull and Zach Honig.
