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Chase Increases UR Redemption Value (50%/25%) in Select Categories + Bonus Category Earnings for Sapphire Reserve/Preferred Cards

579 138 May 28, 2020 at 09:05 AM in Finance (5)
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Last Edited by Fanime July 1, 2020 at 10:00 AM
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Sapphire Reserve (1.5x): https://www.chase.com/personal/credit-cards/sapphire-reserve-benefits​ [chase.com]

Sapphire Preferred (1.25x): https://www.chase.com/personal/cr...d-benefits

Chase Press Release: https://media.chase.com/news/pay-...te-rewards



Beginning on May 31, 2020 and ending on September 30, 2020

Eligible cardmembers will be able to apply points on the Ultimate Rewards site to pay for purchases in select categories, starting with grocery stores, dining, and home improvement stores.

Sapphire points will be worth 25% (Preferred) or 50% (Reserve) more when redeemed.



For Sapphire Reserve Card Members

1. From June 1 through December 31, 2020, gas station and grocery store purchases will also count toward earning your yearly $300 Travel Credit.

2. Earn 5x total points on all Instacart deliveries and pick-ups—groceries, household items, pharmacy and more—on up to $3,000 in purchases from July 1 to September 30, 2020.

3. Earn 5x total points on gas station purchases on up to $1,500 in spend from July 1 to September 30, 2020.

4. Automatically earn 10x total points on select streaming services, like Netflix and Spotify®, on up to $1,500 in spend from July 1 to September 30, 2020.

Plus, earn up to $50 in statement credits toward a yearly or monthly Instacart Express membership, which provides unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $35. Just use your Sapphire card to pay for the Express membership fee between July 1 and September 30, 2020 to receive the credit.


For Sapphire Preferred Card Members

1. Earn 3x total points on all Instacart deliveries and pick-ups—groceries, household items, pharmacy and more—on up to $3,000 in purchases from July 1 to September 30, 2020

2. Find more routes to remember, from summer road trips to local exploration. Earn 3x total points on gas station purchases on up to $1,500 in spend from July 1 to September 30, 2020.

3. Automatically earn 5x total points on select streaming services, like Netflix and Spotify®, on up to $1,500 in spend from July 1 to September 30, 2020



The new Pay Yourself BackSM feature within Ultimate Rewards will provide the option to apply points to pay for all or a portion of existing purchases in select categories, and get paid back with a statement credit. Launching first for Sapphire Reserve® and Preferred cardmembers on May 31st, points will be worth 50% or 25% more, respectively, when redeemed for every day purchases in the initial categories of: grocery stores, home improvement stores and dining, including restaurants, takeout and eligible delivery services.

Chase Sapphire Preferred® and Reserve cardmembers will have access to the new Pay Yourself Back feature within Ultimate Rewards. After making a purchase in an eligible category, cardmembers can simply log into Ultimate Rewards on desktop or through the Chase mobile app, select from recent transactions up to 90 days prior, and choose to redeem points for all or a portion of the purchase. At launch and through September 30, 2020, Sapphire Reserve cardmembers' points will be worth 50% more, and 25% more for Sapphire Preferred cardmembers, when redeemed in eligible categories. This means, Sapphire Reserve cardmembers can apply 10,000 points to pay themselves back on a $150 purchase – a 5,000 point savings compared to a typical cash back redemption. After applying points to an eligible purchase, cardmembers will automatically receive a statement credit for the amount paid in points within three business days.
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Britto
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#2
Does it mean if I have 100,000 points I can encash 1250$?

Or I can apply those points only for the purchases?
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#3
Quote from wolfbritto
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Does it mean if I have 100,000 points I can encash 1250$?

Or I can apply those points only for the purchases?
If you have the preferred card (1.25x). Reserve is 1.5x.
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#4
Also, if you still have not used $300 travel credit this year, that can also be used for grocery or gas stations to get reimbursed automatically. This starts June 1st.

https://thepointsguy.com/news/cha...vid-perks/
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#5
Seems like amazing. Buy $150 worth of groceries and pay only 10,000 in points? is this true??
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Last edited by addiboy May 28, 2020 at 09:45 AM.
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#6
Has this started already? Where do i find this in my chase app?
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#7
wow.

I have a 300,000 chase UR points and a CSR card.

thats like a windfall if I buy gift cards (or beer Smilie) at a grocery store!
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#8
Quote from FLTURD
:
wow.

I have a 300,000 chase UR points and a CSR card.

thats like a windfall if I buy gift cards (or beer https://static.slickdealscdn.com/ima...lies/smile.gif) at a grocery store!
Or already bought in the past 90 days.

Quote from dima13
:
Has this started already? Where do i find this in my chase app?
June 1st.
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#9
Quote from coolchicagoguy
:
Also, if you still have not used $300 travel credit this year, that can also be used for grocery or gas stations to get reimbursed automatically. This starts June 1st.

https://thepointsguy.com/news/cha...vid-perks/
Darn it! I just purchased SW ticket and cancelled it to get SW credit. I'm planning to close the card soon, unless they waive the fee for next year.
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#10
Quote from gsurti
:
Darn it! I just purchased SW ticket and cancelled it to get SW credit. I'm planning to close the card soon, unless they waive the fee for next year.
They're not going to waive a $550 annual fee. They are giving a $100 credit for all renewal until the end of the year though. So that would make it $450, which was the old annual fee before they increased it.
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#11
Quote from coolchicagoguy
:
Also, if you still have not used $300 travel credit this year, that can also be used for grocery or gas stations to get reimbursed automatically. This starts June 1st.

https://thepointsguy.com/news/cha...vid-perks/ [thepointsguy.com]
That's awesome, just skimmed another article [businessinsider.com] and these additional categories were mentioned as being part of it too:
  • Home improvement stores
  • Dining (including restaurants, takeout, and eligible delivery services)
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#12
Awesome, I've been saving a ton of points to use for travel but at 1.5 cts per point I'll gladly redeem some of them!
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#13
Quote from snafufubarpita
:
If you have the preferred card (1.25x). Reserve is 1.5x.
I think he meant can you cash out at 1.5 rather than spend it on an eligible category and go through the process?
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#14
Quote from addiboy
:
Seems like amazing. Buy $150 worth of groceries and pay only 10,000 in points? is this true??
Appears that way. Another way I calculated it: spend $200 on groceries yields 1000 points with the 5x. Those 1000 points are worth $15 next time you get groceries (1.5x redemption).

So basically over the long run you get an effective 7.5% cash back on groceries with Reserve ($15/200 or 5x*1.5x=7.5%) until end of September. Correct me if I'm wrong!

Edit: 5x point accrual for groceries is only until June 30 and you don't accrue points on the amount of the purchase paid by points. Meaning in order to maximize savings use your card to buy groceries and at home improvement stores but only redeem the 1.5x points at home improvement stores until June 30. Complicated slick deal!
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Last edited by bishop_tek May 28, 2020 at 01:17 PM.
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#15
Damn... I put all my groceries on my freedom...
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Last edited by KentC7765 May 28, 2020 at 10:52 AM.
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