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Forum Thread
Chase Sapphire Preferred - Pay Yourself Back - Gas Stations/Grocery Stores
I am posting this because after a LONG while, you now have more options again for Pay Yourself Back than just 25% to Charities. On my Sapphire Preferred PYB page, the new options for Gas Stations and Grocery Stores showed up today, January 1, 2023. Details are still vague, but past history has been 10% to 25% bonus on point redemption and both are valid through 3/31/23.
Attachment 12760864
NEW
Gas Stations (including paying at the pump or inside the station)
(Unknown)% more points value (usually 10%)
Redeem up to (unknown - usually $500 or 45,454 pts)
Valid through 03/31/21
NEW
Grocery Stores (including eligible delivery services, and most likely NOT Walmart)
(Unknown)% more points value (usually 10%)
Redeem up to (unknown - usually $500 or 45,454 pts)
Valid through 03/31/22
Select charities
25% more points value
Valid through 12/31/23
Charges must be made on the CSP card to use PYB bonus. However, you can move points from other cards on your Chase accounts to the CSP and apply them to the PYB bonus.
This thread is not for those who like to bring up "You get better point value for travel transfers". Yes, we know CSP/CSR are good for travel. I don't travel enough to use any of the partner bonuses, and I'm sure many others don't either. I use all my cards for the 1% to 5% back, and if I can get a 10% to 25% redemption bonus now and then for something I DO use then it's a value to me and others.
Attachment 12760864
NEW
Gas Stations (including paying at the pump or inside the station)
(Unknown)% more points value (usually 10%)
Redeem up to (unknown - usually $500 or 45,454 pts)
Valid through 03/31/21
NEW
Grocery Stores (including eligible delivery services, and most likely NOT Walmart)
(Unknown)% more points value (usually 10%)
Redeem up to (unknown - usually $500 or 45,454 pts)
Valid through 03/31/22
Select charities
25% more points value
Valid through 12/31/23
Charges must be made on the CSP card to use PYB bonus. However, you can move points from other cards on your Chase accounts to the CSP and apply them to the PYB bonus.
- Currently, only redemptions against purchases made with your Chase card with Ultimate Rewards at gas stations (including paying at the pump or inside the station), for grocery stores (including eligible delivery services), and for select charitable organizations will qualify.
This thread is not for those who like to bring up "You get better point value for travel transfers". Yes, we know CSP/CSR are good for travel. I don't travel enough to use any of the partner bonuses, and I'm sure many others don't either. I use all my cards for the 1% to 5% back, and if I can get a 10% to 25% redemption bonus now and then for something I DO use then it's a value to me and others.
Created 01-01-2023
at 09:46 AM
by AJR214
in
Finance
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65 Comments
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Personally though I was able to get 1:2.5c by transferring to United miles and get Economy tickets to Japan (at 70k round trip, would have cost 1800 for summer 2023 if paid in cash)
Personally though I was able to get 1:2.5c by transferring to United miles and get Economy tickets to Japan (at 70k round trip, would have cost 1800 for summer 2023 if paid in cash)
Pc? Csp? C1vx?
C1VX is the I guess my own acronym for Capital One Venture X card. It is kind of like the Reserve, but it comes out to much cheaper in terms of annual fee (practically free after credits). It also has free authorized users and up to 4 of them get free Priority Pass and other tertiary benefits.
I know the OP has pre-emptively said he doesn't want to hear it, but it's important for other SDers to know. These cards are not the most efficient if you don't travel. You need to spend A LOT to justify the AF. If you are not a big traveler, do some research to figure out which card is actually the most efficient for your spending habits.
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Everything in general has gotten more expensive, and most of the premium cards have gotten more expensive, the AMEX plat is $695 now. The underlying key is, are you getting more value from the card than you are paying? For me the answer is yes, but everyone has to decide for themselves.
In my case, I no longer have a Sapphire card and transferred most of my remaining points to Hyatt. I think 5k Hyatt points are worth more than $50 or $75 as I typically stay in 5k Hyatt hotels.
Nowadays, I use Citibank Costco for travel purchases at 3% and gas at 4%. I use US Bank Altitude Go (used to be Radisson Visa) for dining at 4 points (or around 4 cents) per dollar. And Capital One Venture X for everything else.
TIA
In my case, I no longer have a Sapphire card and transferred most of my remaining points to Hyatt. I think 5k Hyatt points are worth more than $50 or $75 as I typically stay in 5k Hyatt hotels.
Nowadays, I use Citibank Costco for travel purchases at 3% and gas at 4%. I use US Bank Altitude Go (used to be Radisson Visa) for dining at 4 points (or around 4 cents) per dollar. And Capital One Venture X for everything else.
TIA
One of the keys to the game is to remember that not every ecosystem's points are worth the same. 3% and 4% back at Costco is straight cash. That's the equivalent of redeeming UR points at 1 cent. But UR points can be worth WAYYY more. Combining the Sapphire Preferred/Reserve with the Freedom Flex and Freedom Unlimited, you should never get less than 1.5X back on ANY spending and the UR points can be transferred between the cards. Those rewards will easily multiply based on the increased potential value inherent to UR points vs other ecosystems.
Just to give an example, I once redeemed a room at Hyatt for 8k/nt. Cash price was $250. That's over 3 cents per point. Even at just 1X (which it never is that low), I'd have spent $8k to accumulate those points, but that's a better return than if I'd gotten 3X from Costco, which just gives you a straight 3% cash back (e.g., spend $8,000 on either card, the Hyatt redemption gave me $250 in value but the Costco redemption got me $240 back).
That said, not so huge redemptions are always available. You can transfer UR to Jetblue, it's just never an efficient redemption. United is also a partner, but the better redemptions are typically for Business and First class. The easiest good redemption partner right now is Hyatt.
That was my question exactly. as different people seeing different benefits in their cards, just wanted to confirm this.
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Also, if you understand why this feature was added and the objective of the card itself, Travel is unlikely to ever be a category.