Chase Devalues Pay Yourself Back With New Lesser Categories
It is a good news, bad news situation. The good news is that Chase has extended Pay Yourself Back. My guess is it is likely around to stay at this point but with just rotating options every 3-6 months.
The bad news is that the new categories are not as easy for most to cash out large quantities. While some will like the new options, especially frequent Airbnb users, I think many people had an easier time racking up grocery spend.
New Pay Yourself Back Categories
Get 50% more value with Pay Yourself Back® New categories! Get more value when you redeem your points for statement credits toward Airbnb, Away and dining purchases by Mar. 31, 2022.
Get 25% more value with Pay Yourself Back® New categories! Get more value when you redeem points for statement credits toward Airbnb and Away purchases by Mar. 31, 2022.
The Current Pay Yourself Back Categories
These will be ending today so make some charges if you want to use it. You should be able to claim it after the fact once the charges post:
- Grocery stores
- Dining (including restaurants, takeout, and eligible delivery services)
- Home improvement stores such as Home Depot® and Lowes®
I find grocery the easiest category to rack up massive spend in. Anyone doing a home renovation etc. could say the same for home improvement stores. While Airbnb will be a welcomed addition for many, it just isn’t my bag. And there is no way to hit it up unless you are traveling, so more limited.
It is interesting to see Dining only included on the Chase Sapphire Reserve. It is currently a redemption option for both. That can be an area of big spend for some so if you have the CSR you are probably happy that stays around.
Chase Devalues Pay Yourself Back – Final Thoughts
While it is good to see Chase continue the Pay Yourself Back program, as I had assumed they would, the new categories will be harder to maximize for the majority of people. I am sure quite a few will love having a travel option added in Airbnb and Away though. Limiting dining as an option for just the CSR stings a bit too for anyone that just grabbed the Chase Sapphire Preferred for the 100K welcome offer.
What do you think of the changes? Let me know below.
Hat Tip: Doctor of Credit