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‘Pay Yourself Back’ Now Live for Chase Aeroplan Cardholders

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‘Pay Yourself Back’ Now Live for Chase Aeroplan Card

Chase launched the Aeroplan Mastercard over a year ago with a 100,000 points bonus. Now that offer is down to 70,000 points, but the card has some other perks and benefits that make it a unique product. You can read our full review here.

One of those benefits is the Pay Yourself Back program, which lets you use your Aeroplan points for travel purchases with a value of 1.25 cents. This option is now live and it is also unlimited through the end of the year. Let’s see how it works.

Aeroplan Pay Yourself Back

You can redeem Aeroplan points for a statement credit using Pay Yourself Back for travel purchases made with your Chase Aeroplan Card within 90 days from the redemption date.

The travel category includes airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.

There’s no limit on how many points you can redeem through December 31, 2023. In the following years there’s a maximum of 50,000 points.

Each point you redeem for a statement credit towards qualifying purchases with Pay Yourself Back is worth $.0125, which means that 100 points equals $1.25 in redemption value.

Statement credits will post to your card account within 3 business days and will appear on your credit card billing statement within 1-2 billing cycles. Statement credits will reduce your balance but make sure to make at least your minimum monthly payment on the card.

More Opportunities?

Aeroplan is a transfer partner for Chase, American Express, Capital One, and Bilt points. So it’s possible to transfer your points to the Aeroplan program and then cash them out using Pay Yourself Back. It’s not clear however how Chase and Aeroplan will implement PYB exactly.

Aeroplan terms say that the “intention of permitting conversions from a Conversion Program into Aeroplan Points is so that the resulting Aeroplan Points under any such conversion arrangement are thereafter used by the Member for redemptions within the Aeroplan Program and Aeroplan reserves the right, at any time, to impose limitations on the ability of a Member to engage in conversions from a Conversion Program into Aeroplan Points and on the use of such Aeroplan Points upon conversion.”

So it looks like Aeroplan wants you to use transferred point mainly for redemptions within the Aeroplan program. But, I don’t think Aeroplan has a way to differentiate the points you have in your account.

I reached out to Chase and Aeroplan for more details, but OMaaT has some more details regarding this. Chase reps media contact told him that you can not only redeem points earned with your Aeroplan Credit Card, but you can also redeem points transferred from Chase Ultimate Rewards to Aeroplan with Pay Yourself Back. That doesn’t specifically exclude other programs, but they could be limited later on.


The Pay Yourself Back program makes the Chase Aeroplan card and the program more valuable. You can redeem Aeroplan points at a value of 1.25 cents each, to cover travel purchases made with the card.

And it can also give you an option to cash out Chase Ultimate Rewards, American Express Membership Rewards, Capital One Miles, or Bilt Rewards for the same value.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.


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