Sapphire Reserve ‘Pay Yourself Back’ Categories Extended
Chase’s Pay Yourself Back program has been quite popular for a couple of years now, especially for Sapphire Reserve cardholders. Chase also launched the program to some other cards such as Aeroplan and Southwest.
But while this program has been giving the best value to Chase Sapphire Reserve cardholders, it was devalued last year. However, Chase added some new categories such as Gas, Groceries and Annual Fee. Those same categories have now been extended through the end of September.
Eligible Categories:
Receive 25% more value for your points on the following categories:
- Pets, now through September 30, 2024
- Warehouse/Wholesale, now through September 30, 2024
- Gas Stations, now through September 30, 2024
- Annual Fee, now through September 30, 2024
Receive 50% more value for your points on the following category:
- Select Charities, now through September 30, 2024
Here are the details that were shared by Chase:
Ultimate Rewards points may be redeemed for a statement credit using Pay Yourself Back for purchases made at select merchants or against the prior payment of your annual fee within the 90 days before the redemption request date. Currently, only redemptions against purchases made with your Chase Sapphire Reserve card with Ultimate Rewards at gas stations or against the prior payment of your annual fee and redeemed through 06/30/2023 will qualify. For information about Chase rewards categories and a list of eligible merchants, please see our FAQs at chase.com/RewardsCategoryFAQs. Categories, eligible merchants, and purchase transaction eligibility may change from time to time without notice. Redemptions require a minimum of 1 point. Each point you redeem for a statement credit towards eligible purchases at gas stations or against the prior payment of your annual fee via Pay Yourself Back is worth $.0125 (one and a quarter cents), which means that 100 points equals $1.25 in redemption value. Chase has the right to change redemption values at any time. Statement credits will post to the card account within 3 business days of a request to redeem and will appear on the monthly Chase credit card billing statement within 1-2 billing cycles. Statement credits will reduce your balance but you are still required to make at least your minimum monthly payment. Chase reserves the right to determine which purchases qualify for a statement credit.”
Conclusion
Gas should be useful as a category for Pay Yourself Back, but hopefully Grocery is also part of next quarter’s categories. If it’s not then I would expect some new category to be added. We should find out more details soon.
Let us know if you still value the Pay Yourself Back feature on the Chase Sapphire Reserve card!
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