chase pay yourself back

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:

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.

CChase Ink Business Cash®
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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.

I got "in the game" in 2003 and since then I've collected literally millions and millions of frequent flyer miles and hotel points. I've flown around the world in first class seats that would cost $29,000 using frequent flyer miles and a few bucks in tax. And I've stayed in some of the finest hotels - all for free! A few years ago I realized many of my friends actually thought I was paying for these!! So I started sharing my tips. It's long been a passion, but when I hosted a session on Miles and Points at the South by Southwest festival, my love of the game intensified and this blog was born.

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