Edited by: Stella Shon
- Chase Sapphire Cards
- Chase Ink Business Cards
- Southwest Rapid Rewards Cards
- United MileagePlus Cards
- Aeroplan® Credit Card
- Final Thoughts
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Chase first introduced its Pay Yourself Back option during the pandemic as a way for cardholders to redeem their points without traveling. It has still been wildly popular nearly 4 years later, and the program has expanded with new categories and deadlines.
Now, Chase has confirmed that Pay Yourself Back has been extended in 2024, with select categories on several eligible cards. 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®
Anyone who has the Chase Sapphire Reserve card can redeem points for 1.25 cents apiece for a statement credit against gas, groceries, and the card’s annual fee through March 31, 2024. This is down from the previous value of 1.5 cents per point for qualifying Pay Yourself Back purchases at this time.
Cardholders can also redeem points for 1.5 cents apiece for eligible charities through March 31, 2024.
Chase Sapphire Preferred Card
Those who hold the Chase Sapphire Preferred card can redeem Ultimate Rewards points at a value of 1.25 cent apiece for qualifying charities through March 31, 2024. This is the only category for the Chase Sapphire Preferred card that’s eligible for Pay Yourself Back.
Chase Ink Business Cards
Chase’s lineup of business credit cards also offer the Pay Yourself Back option, and the deadline extended to the end of 2024.
Ink Business Preferred® Credit Card, Ink Business Cash® Credit Card and Ink Business Unlimited® Credit Card, and the Ink Business Premier℠ Credit Card
If you hold the Ink Business Preferred card, Ink Business Cash card, Ink Business Unlimited card, or the Ink Business Premier card, you’ll be able to redeem your points at a rate of 1.25 cents each for certain charities through December 31, 2024.
The previous Pay Yourself Back categories of cable, internet, phone, and shipping purchases are no longer available.
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!
Southwest Rapid Rewards Cards
All Southwest personal cardholders can use Rapid Rewards points to cover their annual fee (1 cent per point) and/or up to $300 in grocery spend (0.8 cents per point) through March 31, 2024. The other caveat with this Pay Yourself Back option is that redemption requests must be made within 90 days of the transaction date.
United MileagePlus Cards
Depending on the United card you have, you can redeem MileagePlus miles for 1.5 to 1.75 cents per mile toward the annual fee. And as of January 1, 2024, all United cardmembers can also use Pay Yourself Back to redeem miles at 1 cent apiece for eligible United airfare transactions made within the past 90 days.
There’s no specified deadline for this Pay Yourself Back option at this time.
Aeroplan® Credit Card
Until June 30, 2024, Aeroplan card holders can also redeem their points at 1.25 cents apiece to cover their annual fee (within 90 days of billing date), in addition to travel purchases made on their statement credit.
The Pay Yourself Back offering has proven to be immensely popular, and certain categories have been extended once again throughout the new year.
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.
Featured Image Credit: Upgraded Points
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UP's Bonus Valuation
This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.