Chase introduced Pay Yourself Back in 2020 as a way to redeem points without needing to travel to get the portal redemption rate of your card.
They’ve changed eligible categories numerous times, however, early this year they devalued the redemption value, with the Sapphire Preferred getting 1 cent per point for PYB and the Reserve getting 1.25 (whereas they are worth 1.25c and 1.5c in the travel portal, respectively).
This actually makes business sense, as Chase can partially offset the cost of your travel portal redemption with its commission from the booking, but gets nothing back when you use PYB.
Here’s what’s changing today:
In this article
Chase Sapphire Preferred categories and redemption value, as of April 1, 2023
- Points can be redeemed at 1:1 value for purchase with gas stations and groceries through June 30, 2023
- Points can be redeemed at 25% more for qualifying charities through through December 31, 2023
Chase Sapphire Reserve categories and redemption value, as of April 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 through December 31, 2023
- Points can be redeemed at 50% more for qualifying charities through through December 31, 2023
Chase Ink Business Preferred and Ink Plus categories and redemption value, as of April 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 June 30, 2023
Chase Ink Business Cash and Unlimited categories and redemption value, as of April 1, 2023
- Cardmembers who utilize Pay Yourself Back can redeem points worth 10% more on internet, cable, phone services and shipping through June 30, 2023
Chase Ink Business Premier categories and redemption value, as of April 1, 2023
- Cardmembers who utilize Pay Yourself Back can redeem points for 25% more on select charities through December 31, 2023.
Freedom, Freedom Flex and Freedom Unlimited categories and redemption value, as of April 1, 2023
- Points are worth 25% more when donating to select charitable organizations
Chase Sapphire Preferred® Card ENDS by NOV 14, 2024: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Plus, get up to $300 in Chase Travel statement credits in the first year of account opening for any purchases made on Chase Travel. How to apply for this offer.
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