Some Sapphire Reserve “Pay Yourself Back” categories expanded

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Some Sapphire Reserve “Pay Yourself Back” categories expanded

The Chase Pay Yourself Back program has been popular for several years, especially among Sapphire Reserve cardholders. Chase also launched the Aeroplan and Southwest cardholder program.

But while this program provided the most value to Chase Sapphire Reserve cardholders, it was discounted late last year. However, Chase added several new categories such as “Gas”, “Grocery” and “Annual Fee”.

Two of those categories, “Gas” and “Annual Fee,” have been extended through the end of the next quarter, Doctor Credit reports. The Groceries category is not yet available and it is not clear if it will be extended for another three months.

Here are the details Chase shared:

Ultimate Rewards points can be redeemed for a credit statement using Pay Yourself Back for purchases made at select merchants or for pre-payment of the annual fee within 90 days prior to the date of the redemption request. Currently, only redemptions for purchases made with your Chase Sapphire Reserve card with Ultimate Rewards at gas stations or for prepaid your annual fee and redeemed by 6/30/2023 qualify. For information on Chase Rewards categories and a list of eligible merchants, please see the FAQ section at chat.chase.com/RewardsCategoryFAQs. Categories, eligible sellers, and eligibility for purchase transactions may change from time to time without notice. A minimum of 1 point is required to redeem. Each point you use for statement credit for qualifying gas station purchases or towards prepaying your annual premium through Pay Yourself Back is worth $0.0125 (one and a quarter of a cent), which means 100 points equals 1. $25 in exchange value. . Chase has the right to change the buyout price at any time. Credit statements will be sent to the card account within 3 business days of the redemption request and will appear on your Chase monthly credit card statement within 1-2 billing cycles. Application credits will decrease your balance, but you still have to make at least your minimum monthly payment. Chase reserves the right to determine which purchases are eligible for credit.”

Conclusion

Gas should be useful as a category for Pay Yourself Back, but we hope that Grocery will also be part of next quarter’s categories. If it’s not, I expect some new category to be added. We should know the details soon.

Let us know if you still appreciate the Pay Yourself Back feature on Chase Sapphire Reserve!

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