Chase Extends Pay Yourself Back for Sapphire Reserve, Ending Soon for Other Chase Cards

Update: Note that some offers mentioned below have expired and are no longer available.

Chase first 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 to new categories and the deadline extended.

Now, Chase has extended it for select categories on the Chase Sapphire Reserve^® until June 30, 2023. On the other hand, many redemption options for Pay Yourself Back are coming to an end for the Chase Sapphire Preferred^® Card and Chase’s lineup of Ink Business and Freedom cards on March 31, 2023.

Let’s take a look at all the details!

Chase Sapphire Cards

Chase has unfortunately devalued the Pay Yourself Back option for its Sapphire family of cards, as we’ll see below.

Chase Sapphire Reserve card

Anyone who has the Chase Sapphire Reserve card can redeem points for 1.25 cents apiece for a statement credit against gas purchases and the card’s annual fee through June 30, 2023. This is down from the previous value of 1.5 cents per point for qualifying Pay Yourself Back purchases. Additionally, the ability to redeem points for 1.25 cents each for grocery store purchases will end on March 31, 2023.

Points are worth 1.5 cents apiece when redeemed for donations to certain charities through December 31, 2023.

Chase Sapphire Preferred card

Those who hold the Chase Sapphire Preferred card can redeem Ultimate Rewards points at a value of 1 cent apiece for grocery and gas purchases through March 31, 2023. This is down from the previous value of 1.25 cents per point for qualifying Pay Yourself Back purchases.

Points are worth 1.25 cents apiece when redeemed for donations to certain charities through December 31, 2023.

Chase Freedom Cards

Chase currently has 2 Freedom credit cards available — the Chase Freedom Flex℠ and the Chase Freedom Unlimited^® — as well as the Chase Freedom^® card (no longer open to new applicants).

Points are worth 1.25 cents apiece when redeemed for donations to certain charities through December 31, 2023.

Chase Ink Business Cards

Chase’s lineup of business credit cards also offer the Pay Yourself Back option, but the deadline to do so for most categories will also come at the end of March. What you’ll see depends on which Ink-branded 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, phone, and shipping purchases through March 31, 2023.

Points are worth 1.25 cents apiece when redeemed for donations to certain charities through December 31, 2023.

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 use Pay Yourself Back to redeem their points for 1.1 cents of value for phone, internet, cable, and shipping purchases through March 31, 2023.

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

Final Thoughts

The Pay Yourself Back offering has proven to be immensely popular, but it’s presumably coming to an end on March 31, 2023, for most categories.

Meanwhile, those with the Chase Sapphire Reserve card can continue to redeem their points to offset their annual fee and gas station purchases through June 30, 2023.

Nevertheless, despite the fact that Chase Ultimate Rewards points can be more valuable when transferred to Chase transfer partners, redeeming your points against purchases you’ve made is an easy way to make use of any stockpile you’ve grown.

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