Chase Launches ‘Pay Yourself Back’ Feature to Offer More Options to Cardholders

Chase cardholders can redeem points at 25%-50% above value to pay for purchases at supermarkets, home improvement stores and eligible delivery services.

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The Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® are particularly attractive to people who love to travel. But right now, travel is at a halt due to the coronavirus crisis. Even as the shutdowns are lifted, people may have lost income and are less willing to spend money on travel at the moment.

Chase has recognized that people are concerned about every day expenses, which is why they are offering cardholders the chance to redeem their points for expanded categories through September 30, 2020.

Summary

  • Through September 30, 2020, Chase is allowing Sapphire Reserve and Preferred cardmembers to use points towards every day purchases in categories including grocery stores, home improvement stores and dining — which includes takeout, restaurants and eligible delivery services.
  • Points will be worth 50% more for Sapphire Reserve cardmembers or 25% more for Sapphire Preferred cardmembers upon redemption.
  • The new Pay Yourself Back feature will be in the Ultimate Rewards portal and give cardholders the chance to apply points to pay for all or part of existing purchases in these categories, and then get paid back with a statement credit.

Expanded Categories: Supermarkets, Home Improvement Stores and Delivery Service Categories

Chase is allowing cardmembers to redeem points for 25% more for Sapphire Preferred cardholders and 50% more for Sapphire Reserve cardholders in the grocery store, home improvement and dining categories, which include takeout, restaurants and eligible delivery services.

For instance, Sapphire Reserve cardholders will be able to apply 10,000 points to pay themselves back on a $150 purchase: a 5,000 point savings compared to a typical cash back redemption.

How to Use Pay Yourself Back

After you make an eligible purchase in one of these categories, you can redeem your points. To use the Pay Yourself Back feature, log onto Chase’s website or app and navigate to the Ultimate Rewards portal. There, you’ll see the Pay Yourself Back section. Select recent transactions up to 90 days prior. Then, choose the option to redeem points for the entire purchase or a portion of it.

After applying points to one of these category purchases, you will automatically get a statement credit for the amount paid in points within just three business days.

how to use chase pay yourself back

The Usual Ultimate Rewards Point System Still Applies

If you’re a Sapphire cardmember, you will still earn your usual 3x points per dollar spent on restaurant purchases with Sapphire Reserve and 2x points with Preferred. Similarly, Chase launched an additional promotion through June 30 where cardholders earn 5x or 3x total points on dollar spent at grocery stores (and grocery store deliveries) for Sapphire Reserve and Preferred respectively.

Chase will also be announcing other cards that earn Ultimate Rewards points for the Pay Yourself Back feature in the future.

Popular Chase Credit Cards


Chase Sapphire Preferred® Card

Chase Sapphire Reserve®

Chase Freedom Unlimited® credit card

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Kylie Lobell

Kylie Ora Lobell is a personal finance writer in Los Angeles. She's written for Slickdeals, Visa, Mastercard, OppLoans, MoneyUnder30, LegalZoom, and Neil Patel Digital, and she's been published in The Washington Post, New York Magazine, the Los Angeles Times, and the Jewish Journal of Los Angeles.

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