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.
- 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.
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Personally, I would downgrade to a free product like one of the Freedom cards instead of canceling.
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).
Changes to United MileagePlus for 2023 have given us another reason to transfer Chase points rather than spend them directly. Starting 2023 Award tickets now earn PQPs (status points) on United. If you don't want to fork over $$$ for an expensive flight but still want to earn PQPs Chase --> United transfer is looking much more appealing now. Previously in order to maintain status I'd only book award tickets for others.
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)
Totally forgot to clear out my points before the end of last year with the reserve.
Pay back went from 150% to 125% on easy to use categories…
Face palm.
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Personally, I would downgrade to a free product like one of the Freedom cards instead of canceling.
Again, this is never an issue when everything goes smoothly, and your booked travel takes place with no hiccups. Sometimes even the changes go smoothly. But for those that have used them extensively and experienced the problems..... never again. I wasted so much time that I eventually just punted the 40k+ pts I was owed. The money just wasn't worth the hours I was wasting.
The card and rewards are great but I do not advise anyone to book through their portal. Transfer to travel partners.
What you MIGHT be able to do is collect a retention credit and then canceling a few months later. The credit plus the pro-rated AF could meet or exceed the AF.
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Again, this is never an issue when everything goes smoothly, and your booked travel takes place with no hiccups. Sometimes even the changes go smoothly. But for those that have used them extensively and experienced the problems..... never again. I wasted so much time that I eventually just punted the 40k+ pts I was owed. The money just wasn't worth the hours I was wasting.
The card and rewards are great but I do not advise anyone to book through their portal. Transfer to travel partners.