LoyaltyLobby
  • News
  • Hotel Promos
    • Accor
    • Best Western
    • Radisson Rewards
    • Choice
    • Fairmont
    • Hilton
    • World of Hyatt
    • IHG Rewards
    • Marriott
    • Ritz-Carlton
    • Starwood
    • Wyndham Rewards
  • Reviews
  • Contact Us
  • Blog View
  •  
LoyaltyLobby
  • News
  • Hotel Promos
    • Accor
    • Best Western
    • Radisson Rewards
    • Choice
    • Fairmont
    • Hilton
    • World of Hyatt
    • IHG Rewards
    • Marriott
    • Ritz-Carlton
    • Starwood
    • Wyndham Rewards
  • Reviews
  • Contact Us
  • Blog View
  •  
LoyaltyLobby
No Result
View All Result
ADVERTISEMENT

Using Chase Ultimate Rewards To “Pay Yourself Back” Instead Of Points Transfers

by Sebastian Powell
March 7, 2021
Reading Time: 3 mins read
4

Last summer Chase has introduced the “Pay Yourself Back” feature allowing Sapphire Preferred and Sapphire Reserve cardholders to redeem their Ultimate Rewards at very favorable rates by offsetting restaurant and supermarket spend.

Through April 30, 2021 card holders can still benefit from an increased rate for the statement credit when using Ultimate Rewards points for cash instead of travel partner transfers.

Throughout this promotional period (which might very well be extended again) Pay Yourself Back offers a 25% bonus on the value of your points with the Chase Sapphire Preferred Card, or a 50% bonus with the Chase Sapphire Reserve on the pre-assigned value for Ultimate Rewards points which is US$0.01.

ADVERTISEMENT

The categories for pay yourself back are grocery stores and dining at restaurants (including takeout & eligible delivery services), home improvement stores and select charitable organizations and you have 90 days to apply points after the purchase posts to the account.

Usually the best way to redeem credit card points is by transferring them to a travel partner and then book a high value flight or hotel but in these times it might be worthwhile to look into other options, especially with large points balances and most definitely if one is under pressure to cut some spending.

You can access the Pay Yourself Back promotion on Chase’s website (see here).

Try a new way to redeem your points. Through April 30, 2021 your points are worth 50% more when you redeem for statement credits after using your card at grocery stores and dining at restaurants (including takeout & eligible delivery services), home improvement stores and select charitable organizations.

Currently, the categories for pay yourself back are: grocery stores and dining at restaurants (including takeout & eligible delivery services), home improvement stores and select charitable organizations. Redeem for purchases in these categories made with your Chase card with Ultimate Rewards.

After each purchase posts, you have 90 days to pay yourself back.

You’ll get 50% more value from your points when you pay yourself back for eligible purchases listed below.

In my case as in the screenshot it lists 50% bonus because I have the Chase Sapphire Reserve. The site then lists the eligible purchases.

I have redeemed quite a few points this way since last fall:

I’ve now redeemed 30,000 points for a total cash reimbursement of $450 which exactly covers my annual fee that I paid for the CSR. That in combination with the US$300 travel credit that’s also applicable to grocery purchases until the end of June 2021as part of Chase’s pandemic relief policy.

Usually I’d just move my points to Hyatt but when I do the math I find that getting $150 cash per 10,000 points transferred is a better value as hotels are cheap right now and flying not really in the books, especially since I still have a good stack of airline miles.

This promotion could really be helpful especially to those who have to find a way to make ends meet these days while possibly having experienced financial shortfalls due to C-19. It’s hard to justify keeping a credit card that costs $450 unless you can offset this fee somehow in a reasonable way. It would be nice if other credit card companies would do something similar.

Conclusion

The value one can get out of this is very decent. It’s a straight 1.5 cent per point when carrying the Chase Sapphire Reserve card so for every 10,000 points redeemed a $150 will go back on the credit card account. That’s cold hard cash right away instead of some travel currency in the future.

While it’s theoretically possible to get a higher value when redeeming points and miles for award travel that all depends on the real value of these trips and if you’d pay that price under normal circumstances. I’m not a fan of ‘feelgood redemptions’ convincing myself that I’m traveling on a $10,000 ticket paid by miles when in reality you could get a similar flight for a $2500 saver fare and I’d probably not even pay that if I had a choice.

Previous Post

OMNI & Loews Launch Partnership

Next Post

Marriott Bonvoy Greater China Member Day Exclusives March 2021

Related Articles

Which Banks Have Refused To Provide You A Discount On Your Travel Credit Card For 2020?

Reader Question: Chase Sapphire Reserve Account Retention Credit In 2022?

Sebastian Powell
April 6, 2022
7

Today we received a Reader Question about Chase Credit Cards, in particular, the Chase Sapphire Reserve and the $100 account...

Chase Ultimate Rewards 50% Transfer Bonus To Marriott Bonvoy Through December 24, 2021

Chase Ultimate Rewards 50% Transfer Bonus To Marriott Bonvoy Through December 24, 2021

Sebastian Powell
December 11, 2021
1

Chase Ultimate Rewards is currently offering card members a 50% "Holiday Bonus" when moving Ultimate Rewards points to Marriott Bonvoy....

Update: Chase Sapphire Reserve Gives US$100 Statement Credit For Upcoming Renewals

Reader Question: Chase Sapphire Reserve Card Ultimate Rewards Points Transfer Or Cash Back?

Sebastian Powell
November 1, 2021
3

Last year Chase has introduced the “Pay Yourself Back” feature allowing Sapphire cardholders to redeem their Ultimate Rewards at very...

Upgrade Your Travel IQ

Make the most of your travel with our free and daily newsletter with the latest hotel and airline news and promotions.

We do not sell or share email addresses.

ADVERTISEMENT

Trending

Hilton Honors “Points In The City” 2,500 Bonus Points Per Stay February 3 – May 1, 2022
Hilton Honors

Hilton Negotiated Rates For Business & Leisure Travel

May 26, 2022
Hertz Gold Plus Rewards Member Tier Extension Through January 2022
Hertz

Reader Email: Hertz Return Scam In Germany

May 25, 2022
Hilton Go Employee And Friends & Family Rate Plans
Hilton Honors

Hilton Go Employee And Friends & Family Rate Plans

July 25, 2021
New Japan Coronavirus Travel Restrictions Effective March 9, 2020
Travel News

Japan Allows International Visitors On Package Tours From June 10, 2022

May 26, 2022
Thailand Contemplates Scrapping “Thailand Pass” Entirely
Featured

Thailand Pass Changes June 1, 2022 (Gone For Thais)

May 20, 2022

Top Categories

  • IHG Rewards Club
  • Hilton Honors
  • Marriott Bonvoy
  • Accor ALL
  • Airfare Of The Day
  • Starwood Preferred Guest (SPG)
  • Hyatt – World of Hyatt
  • American Airlines – AAdvantage
  • Travel News
  • United Airlines – Mileage Plus
ADVERTISEMENT

All Categories

In Case You Missed It

Why I Purchased AeroMexico Europe – Brazil Business Class Ticket

AeroMexico Club Premier Award Discount, Buy Points & Conversion Bonus

May 24, 2022
Airfare of the Day [Business Class] AIR CANADA San Francisco to Rome from $2,363

Airfare of the Day [Business Class] AIR CANADA San Francisco to Rome from $2,363

May 21, 2022
Radisson Rewards Americas 35% Off Hot Hotel Deals Through July 2, 2022 (Book By June 12)

Radisson Rewards Americas 35% Off Hot Hotel Deals Through July 2, 2022 (Book By June 12)

May 26, 2022
Hertz Gold Plus Rewards

Hertz Gold Plus Rewards Tier Extension Through January 31, 2023 & Lower Qualification Requirement

May 26, 2022
Marriott Mexico 20% Off Hot Sale For Stays Through December 31, 2022 (Book By May 31)

Marriott Mexico 20% Off Hot Sale For Stays Through December 31, 2022 (Book By May 31)

May 23, 2022
ADVERTISEMENT

Since 2011, we have been helping millions of visitors like you untangle travel loyalty programs for free upgrades, flights and hotel nights.

Facebook Twitter Youtube Instagram

Site Navigation

  • About LoyaltyLobby
  • News
  • Reviews
  • Airfares
  • Contact Us

Hotel Promotions

  • Accor
  • Hilton
  • IHG Rewards
  • Marriott
  • World of Hyatt

Sign Up For Our Newsletter

Our free daily newsletter sends you the latest information on hotel and airline programs.

We do not share or sell email addresses.

Site & Contents ©2011-2022 LoyaltyLobby.com
Terms of Use & Privacy Policy

  • News
  • Hotel Promotions
    • Accor
    • Best Western
    • Choice
    • Fairmont
    • Hilton
    • IHG Rewards
    • Marriott
    • Radisson Rewards
    • Ritz-Carlton
    • Starwood
    • World of Hyatt
    • Wyndham Rewards
  • Reviews
  • Contact Us
  • Blog View
No Result
View All Result

© 2011–2021 LoyaltyLobby.com - Site & Contents