Long a feature of Chase’s own Ultimate Rewards cards, the Pay Yourself Back feature (where you can redeem points for statement credits against various categories that generally match what you would get redeeming at the Chase Travel(SM) expanded to the Aeroplan® credit card in 2023 with the ability to redeem Aeroplan points for statement credits against travel expenses and the card’s annual fee. You get a value of 1.25 cents per point redeemed.
Chase has now rolled this feature out on the Bonvoy Bold card, allowing you to redeem 12,500 Bonvoy points for a $100 statement credit – up to $750 a year maximum.
Marriott points are valued (by me, anyway) at 0.6 cents each. Obviously the more hardcore among us get a penny plus but a great many do not exceed 0.6 cents on an average redemption making this Pay Yourself Back feature somewhat attractive in that regard.
There is also an increased bonus offer on this card right now (my refer-a-friend link) for 60,000 points and a Free Night up to 50,000 points which it has been once in the past and is “best ever.” Not bad on a no annual fee card, though you won’t get the free night like you get on the Bonvoy Boundless (also my refer a friend link) which is offering a limited time bonus of a $150 statement credit after making your first purchase in your first 12 months from account opening plus earn 100,000 Bonus Points after you spend $3,000 on purchases in your first 3 months from account opening.
Thoughts?
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You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.
