If you haven’t considered Chase’s Pay Yourself Back feature recently, it’s a good time to revisit it.
This valuable option has expanded to include a wider range of Chase cards, and some redemption rates are quite appealing.
Chase offers the Pay Yourself Back benefit on various co-branded credit cards, including those from Southwest Airlines, United Airlines, the Aeroplan® Credit Card (check rates and fees), and the Marriott Bonvoy Bold® Credit Card (check rates and fees).
Many of these offers remain valid until December 31.
Here’s what you need to know about utilizing Chase Pay Yourself Back.
What is Chase Pay Yourself Back?
Introduced in 2020 during a time of limited travel, Chase’s Pay Yourself Back offers cardholders an alternative redemption option within the Ultimate Rewards program. While categories have adapted over the years, the fundamental aim of the program remains the same.
In essence, the Pay Yourself Back feature enables many Chase cardholders to redeem points at values comparable to booking travel. While it may not yield the highest value you can achieve through transfer partners, it’s a solid choice if you’re seeking easy redemptions or have points you want to utilize.
With the inclusion of some airline cards in the program, the redemption rates for specific categories can even exceed the typical returns from using rewards for travel bookings.
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Related: Discover the best Chase credit cards.
Eligible Purchases for Pay Yourself Back
Here are the current categories available for Pay Yourself Back:
| Card | Redemption Value | Current End Date |
|---|---|---|
| Qualifying charities: 1.5 cents per point
Department stores, gas stations, groceries, home improvement stores, and annual fee: 1.25 cents per point |
Dec. 31 | |
| Chase Sapphire Preferred® Card (check rates and fees) | Qualifying charities: 1.25 cents per point
Annual fee: 1.1 cents per point |
Dec. 31 |
| Qualifying charities: 1.25 cents per point | Dec. 31 | |
| Aeroplan Credit Card | Travel purchases (up to $2,500 annually for $200,000 points) and annual fee (only select merchants within 90 days of redemption): 1.25 cents per point
Amazon.com, dining, gas, groceries (excluding Target, Walmart, and wholesale clubs), home improvement stores, select department stores, and utilities: 0.8 cents per point |
Dec. 31 for Amazon, gas, home improvement stores, select department stores, and utilities (ongoing for dining and groceries) |
| United Airlines personal and business cards | Annual fee: 1.35-1.5 cents per mile (varies by card)
United airfare purchases directly with the airline of $50 or more: 1 cent per mile |
Dec. 31 |
| Southwest Airlines personal and business cards | Annual fee within 90 days of transaction: 1 cent per point | Dec. 31 |
| Marriott Bonvoy Bold Credit Card | Travel purchases directly with airlines or Marriott Bonvoy hotels (up to $750 annually): 1 cent per point | Ongoing benefit |
| Disney credit cards | Purchases at select Disney locations in the U.S. within 90 days: 1 Disney Rewards Dollar per dollar
Disney® Premier Visa® Card holders can use Disney Rewards Dollars for airline purchases in the last 90 days at 1 reward dollar per dollar. |
Ongoing; no specific end date |
The information for the J.P. Morgan Reserve, Chase Freedom, Ink Business Preferred, and Ink Business Premier has been gathered independently by The Points Guy. The card details on this page have not been verified or provided by the card issuer.
The list of charities eligible for Pay Yourself Back includes:
- American Heart Association
- American Red Cross
- Equal Justice Initiative
- Feeding America
- GLSEN
- Habitat for Humanity
- International Medical Corps
- International Rescue Committee
- Leadership Conference Education Fund
- Make-A-Wish America
- NAACP Legal Defense and Education Fund
- National Urban League
- Out and Equal Workplace Advocates
- SAGE
- Thurgood Marshall College Fund
- United Negro College Fund
- UNICEF USA
- United Way
- World Central Kitchen
If you wanted to redeem 10,000 points with your Chase Sapphire Reserve, you would typically receive a $100 statement credit. However, if redeeming for an eligible charity donation, those same 10,000 points would yield a $150 credit.
Related: Discover the value of your Chase Ultimate Rewards points.
Requesting a Credit
The process for requesting a credit through the Pay Yourself Back program is easy. Log in to your eligible Chase account on the mobile app or desktop, then select “Pay Yourself Back” in the redemption menu.
You’ll be presented with a list of eligible purchases for redemption. Points can be used for purchases made within the last 90 days.
You can redeem enough points to cover the full amount of the purchase.
After confirming the redemption value and points needed, you can finalize the transaction. Your statement credit should appear within three business days.
Related: Learn how to use Shop Through Chase for additional points.
Statement Credit on Other Purchases
Chase also provides the option to redeem points for a statement credit, which has been a long-standing feature. To do this, access your Ultimate Rewards account, select the drop-down menu, and choose “Cash Back.”
You can enter the amount to redeem and specify where you want your rewards deposited. Cash-back redemptions are fixed at 1 cent per point, which is lower than the value provided in many Pay Yourself Back options.
Still, Chase’s cash-back redemption is more favorable than what many other issuers offer. For instance, Citi ThankYou points also redeem at 1 cent per point for cash, while American Express gives only 0.6 cents per point. Capital One ranks lowest, with cardholders earning just 0.5 cents per mile for cash redemptions.
Related: Do I need to report cashing out my points and miles on my taxes?
Conclusion
Chase’s Pay Yourself Back feature offers valuable flexibility for cardholders.
Ultimately, whether you should redeem your points this way depends on your specific needs, the amount of points you have, and whether the statement credits would significantly benefit you.
Related: Maximize your points with these top five Chase Ultimate Rewards cards.
