Chase just announced Pay Yourself Back changes, but I don't think the devaluation is a huge deal. There are even reasons to be positive.
With PYB, Chase Sapphire, Ink Business and Freedom cardholders can redeem Ultimate Rewards points to cover eligible purchases made over the last 90 days.
If you have the Chase Sapphire Reserve card and try to redeem your Ultimate Rewards points for your Annual Membership Fee, you'll see a bonus of 25% only.
Some categories are showing a 25% bonus instead of 50%. That's a big drop in value, and it seems that it's already in effect.
Today, Chase announced the first rotating quarterly categories of 2023 for Freedom and Freedom Flex cardmembers.
Our Chase personal card rankings are based solely on the welcome offer value in the first year and will be updated often as things change.
There is a new, increased Chase Sapphire Reserve 80,000 point offer that just launched. The best offer we have seen in half a decade!