Key takeaways
- With an eligible Chase credit card, you can earn boosted rewards when you redeem for statement credits toward select purchases made in the last 90 days.
- Depending on the card, categories include travel, charities, groceries, gas and annual membership fees.
- Expiration dates vary by card and category, so take note of these dates within our guide or your online account.
If you have the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you probably already know that you can increase the value of your Chase Ultimate Rewards points by redeeming them for travel booked through Ultimate Rewards. But many Chase cardholders are unaware that they can also increase the value of their rewards through Chase’s Pay Yourself Back program.
This feature allows cardholders to increase the value of their Ultimate Rewards by redeeming points or cash back for statement credits toward popular spending categories, including groceries, gas and charitable donations.
What is Chase’s Pay Yourself Back feature?
Chase’s Pay Yourself Back program allows consumer and business cardholders to redeem points or cash back for statement credits in select spending categories that change quarterly.
To qualify for Pay Yourself Back, purchases must have been made within the past 90 days and bonus categories are subject to change — which gives cardholders an incentive to maximize their rewards through frequent redemptions.
Which cards have Pay Yourself Back?
If you have one or more of the following Chase credit cards, you can use Pay Yourself Back to increase the value of your rewards:
Chase Pay Yourself Back purchase categories
Pay Yourself Back categories vary per card. Here’s a breakdown of how each family of Chase cards rewards Pay Yourself Back purchases, plus their expiration dates.
Chase Sapphire cards
Chase Sapphire Preferred
With the Chase Sapphire Preferred, get a 25 percent boost on eligible Pay Yourself Back charity redemptions through June 30, 2025.
Chase Sapphire Reserve
As for the Chase Sapphire Reserve, get a 50 percent boost on eligible Pay Yourself Back charity redemptions through June 30, 2025.
Further, you can get a 25 percent boost on gas station, grocery, pet store and veterinary service redemptions, as well as annual membership fees, through June 30, 2025.
Chase Freedom cards
If you have the Chase Freedom, Freedom Flex, Freedom Unlimited or Freedom Student credit card, your points are worth 25 percent more when you redeem them for donations at select charitable organizations. This offer is available through June 30, 2025.
Chase Ink Business cards
Ink Business Cash and Ink Business Unlimited
If you have the Ink Business Cash or Business Unlimited, you can get a 25 percent rewards boost on select charity donations through June 30, 2025.
Ink Business Preferred and Ink Business Plus
Ink Business Preferred and Business Plus credit card holders get a 25 percent boost on select charity donations, also through June 30, 2025.
Southwest cards
If you have a co-branded Southwest credit card, you can get 1 cent per point toward your annual membership fee through June 30, 2025:
Aeroplan card
Aeroplan® Credit Card*holders get a 25 percent boost on past eligible travel purchases through June 30, 2025 (limit of 200,000 points per year) or the annual membership fee with no end date currently scheduled.
Marriott Bonvoy Bold card
If you have the Marriott Bonvoy Bold® Credit Card, your points are worth 0.8 cents each toward airline or Marriott hotel purchases (limit of $750 in charges per year) through June 30, 2025.
United cards
Depending on which United credit card you have, miles are worth from 1.35 to 1.6 cents each toward your card’s annual fee through December 31, 2025. Or, you can redeem at a value of 1 cent each for United flight purchases over $50, also through December 31, 2025.
How does Pay Yourself Back work?
If you want to increase the value of your Ultimate Rewards points through Pay Yourself Back, start by logging in to your Chase account or opening the Chase mobile app. From there, go to Chase Ultimate Rewards and select the Pay Yourself Back redemption option.
If you made any purchases in the past 90 days that are eligible for Pay Yourself Back, Chase will give you the opportunity to redeem your Ultimate Rewards points for statement credits against those purchases.
Remember, your points increase in value when redeemed through Pay Yourself Back. So if you made an eligible $1,000 purchase with your Chase Sapphire Preferred, the 25 percent value boost means you’ll be able to redeem those points for $1,125 in qualifying statement credits.
The bottom line
Chase’s Pay Yourself Back program allows select Chase cardholders to increase the value of their rewards when redeeming them for purchases in popular categories (while simultaneously lowering their credit card bill).
If you have an eligible Chase card in your wallet, take advantage of Pay Yourself Back before the categories expire.
Chase Pay Yourself Back frequently asked questions
*Information about the Chase Freedom® Student credit card, Chase Freedom Flex, Chase Freedom, Ink Business Plus Credit Card , Southwest Rapid Rewards® Premier Credit Card, Aeroplan Credit Card and Marriott Bonvoy Bold® Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Read the full article here
