Chase has an interesting perk for holders of select credit cards where you can redeem your Ultimate Rewards points toward purchases made on your card, and, rather than get the usual 1 cent per 1 point redemption rate, you can get an additional bonus, allowing your points to go further. The categories for these purchases can vary by card, and Chase has now extended the redemption period for a few categories by several months.
Pay Yourself Back Redemptions Are Simple
You can redeem points to cover eligible charges on your statement. Image Credit: ChaseIt’s very easy to redeem your Ultimate Rewards points towards a purchase.
First, log in to your Ultimate Rewards portal, then select Pay Yourself Back. Simply select an eligible charge within the past 90 days, and you can select how many Ultimate Rewards points you want to use to cover that charge. You don’t have to have enough for the entire charge and can redeem a smaller amount to only cover a portion.
Hot Tip: For more information, check out our detailed guide on Chase’s Pay Yourself Back.
Select Charities
If you’re redeeming against a charitable donation, you can only cover contributions to these organizations:
- American Red Cross
- Equal Justice Initiative
- Feeding America
- Habitat for Humanity
- International Medical Corporation
- Leadership Education Fund
- NAACP Legal Defense and Education Fund
- National Urban League
- Thurgood Marshall College Fund
- United Negro College Fund
- United Way
- World Central Kitchen
Eligible Cards and Their Pay Yourself Back Categories
If you have Chase’s most premium credit card, these are the categories you can redeem into for 50% more value (1.5 cents per point):
- Away Luggage ends March 31, 2022
- Airbnb has been extended to June 30, 2022
- Dining has been extended to June 30, 2022
- Annual Membership Fee has been extended to June 30, 2022
- Select Charities ends December 31, 2022
Using your points to cover your annual fee can be a great way to maximize value out of your card without having to worry about an annual fee.
Chase Sapphire Preferred cardholders will get their Airbnb category extended through June 30, 2022, while the Away Luggage category will expire on March 31, 2022, and Select Charities expires on December 31, 2022. Cardholders can pay themselves back on these charges with 25% more value (1.25 cents per point).
You’re able to redeem points against donations to Select Charities with a 25% bonus (1.25 cents per point) through December 31, 2022.
Since these are business cards, you’ll have different categories to choose from with a 25% bonus value (1.25 cents per point):
- Select Advertising ends March 31, 2022
- Office Supply Stores ends March 31, 2022
- Internet, Cable & Phone Services has been extended to June 30, 2022
- Select Charities ends December 31, 2022
You can redeem your points for Internet, Cable & Phone Services through March 31, 2022, with a 10% bonus (1.1 cents per point) or Select Charities through December 31, 2022, with a 25% bonus (1.25 cents per point).
Final Thoughts
While redeeming points to cover normal purchases isn’t usually the best use of points, having a bonus to get more out of your redemptions can certainly be appealing. If you are spending at any one of the listed categories and have points to spare, consider wiping these charges from your statement with the extended expiration dates of the Chase Pay Yourself Back categories.
Featured Image Credit:
Chase
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