[Expired] Chase Extends and Expands Its Pay Yourself Back Option

- UPDATED: June 22, 2022

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Chase introduced its Pay Yourself Back option during the pandemic as a way for cardholders to redeem their points without traveling. It’s been wildly popular, so we’ve seen it expanded and extended a couple of different times. Now, Chase has opted to do so again with its lineup of business cards and Freedom credit cards. Let’s take a look.

Table of Contents

Chase Freedom Cards
Chase Ink Business Cards
- Ink Business Preferred® Credit Card and Ink Business Plus® Credit Card
- Ink Business Cash® Credit Card and Ink Business Unlimited® Credit Card
Final Thoughts

Chase Freedom Cards

Chase currently has 2 different Freedom credit cards available. Beginning July 2, 2021, cardholders will be able to use their Ultimate Rewards points to pay themselves back for dining at an increased ratio. Instead of the standard 1 cent each, points will be worth 1.1 cents each, up to a maximum of $250 back.

This bonus will last all the way through September 30, 2021. Here are the cards on which this new Pay Yourself Back option will be available:

Chase Ink Business Cards

Chase Ink Business Preferred card business owner — Image Credit: Chase

Chase’s lineup of business credit cards is also seeing an expansion of the Pay Yourself Back option. What you’ll see depends on which Ink credit card you hold:

Ink Business Preferred® Credit Card and Ink Business Plus® Credit Card

If you hold either the Ink Business Preferred card or the Ink Business Plus card (no longer open to new applicants), you’ll be able to redeem your points at a rate of 1.25 cents each for cable, internet, and phone services through September 30, 2021. These join the existing options of using Pay Yourself Back for home improvement and shipping, which have also been extended to September 30, 2021.

Ink Business Cash® Credit Card and Ink Business Unlimited® Credit Card

Holders of either the Ink Business Cash card or the Ink Business Unlimited card can now use Pay Yourself Back to redeem their points for 1.1 cents of value for phone, internet, and cable services through September 30, 2021. This is 10% more than the standard 1 cent of value that you’d normally see.

Hot Tip: If you pair a cash-back card with a premium card that earns Chase Ultimate Rewards, you can choose to turn your cash into Chase Ultimate Rewards points — thereby doubling their value!

Final Thoughts

Chase is obviously choosing to expand its Pay Yourself Back offering due to its massive popularity. Although Chase points can be more valuable when transferred outside the bank, redeeming your points against purchases you’ve made is an easy way to make use of any stockpile you’ve grown, especially if you’re still waiting to travel.

The information regarding the Ink Business Plus® Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.