There have been some rumblings lately about changes to Chase’s Pay Yourself Back feature, where you can get reimbursed for spending in select categories at the same rate you can redeem your points in the travel portal (i.e. 1.5 cpp for Sapphire Reserve and 1.25 cpp for Sapphire Preferred and Ink Business Preferred).
As of today, that is no longer the case. Directly from Chase, here are the new 2023 Pay Yourself Back details:
In this article
Chase Sapphire Preferred categories and redemption value, as of January 1, 2023:
- Points can be redeemed at 1:1 value for purchase with gas stations and groceries through March 31, 2023
- Points can be redeemed at 25% more for qualifying charities through December 31, 2023
Chase Sapphire Reserve categories and redemption value, as of January 1, 2023:
- Points can be redeemed at 25% more value for purchase with gas stations, groceries, as well as towards the card’s annual fee through March 31, 2023
- Points can be redeemed at 50% more for qualifying charities through December 31, 2023
Chase Ink Business Preferred and Ink Plus categories and redemption value, as of January 1, 2023:
- Cardmembers who utilize Pay Yourself Back can redeem points worth 25% more on business expenses related to internet, cable, phone services and shipping through March 31, 2023
Chase Ink Business Cash and Unlimited categories and redemption value, as of January 1, 2023
- Cardmembers who utilize Pay Yourself Back can redeem points worth 10% more on internet, cable, phone services and shipping through March 31, 2023
Chase Freedom, Freedom Flex and Freedom Unlimited categories and redemption value, as of January 1, 2023:
- Points are worth 25% more when donating to select charitable organizations
Summary
Gas and groceries will be the PYB categories for Sapphire Preferred and Reserve, but both cards lose .25 cents per point in value. This makes it markedly less appealing than redeeming for travel, whether in the portal or using transfer partners like Hyatt. At least the Ink Business Preferred retains the 25% bump for business expenses related to internet, cable, phone services and shipping.
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