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Chase Extends Pay Yourself Back for Sapphire, Ink Business and Other Co-Branded Cards

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Carissa Rawson
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Carissa Rawson

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Carissa served in the U.S. Air Force where she developed her love for travel and new cultures. She started her own blog and eventually joined The Points Guy. Since then, she’s contributed to Business ...
Edited by: Stella Shon
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Stella Shon

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With a degree in media and journalism, Stella has been in the points and miles game for more than 6 years. She most recently worked as a Corporate Communications Analyst for JetBlue. Find her work in ...

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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.

Chase Ink Business Cards in a Burnt Orange Wallet Upgraded Points LLC
Image Credit: Upgraded Points

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.

Eligible cards include the Southwest Rapid Rewards® Plus Credit Card, the Southwest Rapid Rewards® Premier Credit Card, and the Southwest Rapid Rewards® Priority Credit Card.

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.

Final Thoughts

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.

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About Carissa Rawson

Carissa served in the U.S. Air Force where she developed her love for travel and new cultures. She started her own blog and eventually joined The Points Guy. Since then, she’s contributed to Business Insider, Forbes, and more.


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