If you have a Chase rewards credit card, you may have access to one of the card issuer’s popular redemption options — Chase Pay Yourself Back. Chase introduced the feature in spring 2020, during the COVID-19 pandemic. Because of pandemic shutdowns, cardholders were unable to redeem rewards for travel, so the move gave select Chase cardholders another way to use their points. Chase Pay Yourself Back allows you to use points to pay for all or a portion of qualifying card purchases.
Chase Pay Yourself Back is another way to redeem Chase Ultimate Rewards® points. You can use points to pay for eligible purchases made with your card within the past 90 days. You don’t need to use points to pay for the entire purchase — you can redeem points and use them to cover part of the purchase cost. The redemption is a statement credit applied to your Chase bill.
The benefit was initially a limited-time offer with select Chase credit cards. Since then, the program has been extended and is considered an ongoing feature.
Chase Pay Yourself Back categories vary depending on which Chase credit card you have. Eligible categories may include purchases at grocery stores, gas stations, travel purchases, Disney purchases, donations to select charities and to cover your card’s annual fee.
Chase Pay Yourself Back is a redemption option within the Chase Ultimate Rewards® program. Cardholders can log into their online account and redeem available Ultimate Rewards points to cover eligible purchases listed under the Chase Pay Yourself Back option. Eligible purchase categories and point values vary between cards and may have different expiration dates.
| Chase Card | Redeem Points For | Point Value | End Date |
|---|---|---|---|
| Chase Sapphire Reserve® | Annual fee or statement credit for gas and select bill pay categories | 1 - 1.25 cents each | Jan. 31, 2025 for gas and bill pay bonus, Ongoing for others |
| Chase Sapphire Preferred® Card | Statement credit | 1 cent each | Ongoing |
| Chase Freedom® Chase Freedom Flex℠ Chase Freedom Rise℠ Credit Card Chase Freedom Unlimited® | Statement credit | 1 cent each | Ongoing |
| Aeroplan® Card | Travel purchases, annual fee | 0.08 - 1.25 cents each | Dec. 31, 2024 |
| Southwest credit cards (personal and business) | Statement credit and annual fee | 1 cent each | Ongoing |
| United credit cards (personal and business) | Annual fee | 1 cent each | Ongoing |
| Disney® Visa® Credit Card | Disney purchases | 1 cent each | Ongoing |
| Ink Business Preferred® Credit Card Ink Business Premier® Credit Card Ink Business Cash® Credit Card Ink Business Unlimited® Credit Card Ink Plus® Business Credit Card | Statement credit | 1 cent each | Ongoing |
Right now, select Chase cards allow you to use Pay Yourself Back to receive statement credits for donations to select charities. The current promotion offers 25% more points value when you redeem points for statement credit toward eligible charitable contributions. This means 100 points is worth $1.25 rather than the standard $1.00. This current promotion runs until Dec. 31, 2024 — although Chase could extend it, which it has done in the past.
Qualifying donations to the following charities are eligible for Chase’s Pay Yourself Back program:
One thing to note is that donations to local chapters of these charities may not qualify as eligible purchases through the Pay Yourself Back program. Donate to the charity’s parent organization to ensure your donations are eligible for Chase statement credits through Pay Yourself Back.
Since the Pay Yourself Back program began in 2020, Chase has continued to extend many of its Pay Yourself Back promotions on a quarterly basis. This applies primarily to cards that offer Pay Yourself Back statement credits for donations to select charities, but each card may offer its own unique offers.
The Aeroplan® Card offers Pay Yourself Back statement credits towards travel purchases and annual fees through Dec. 31, 2024. Pay Yourself Back promotions through United and Disney Visa cards appear to be ongoing, but Chase can change the promotion end date at any time.
Redeeming Ultimate Rewards and other eligible points is a straightforward process.
The process is similar for Pay Yourself Back redemptions with Disney Visa, Aeroplan, Southwest and United credit cards. Statement credits should appear on your account within three business days.
If you don’t have enough points, you can redeem credit card points to partially cover eligible purchases. Keep in mind that you can only use Pay Yourself Back once per purchase, so you won’t be able to redeem points to cover the rest of the purchase cost later.
Chase credit card points are worth one cent per point if you redeem them for cash back. If you have a Chase card that earns Ultimate Rewards points, you could get more value per point with Pay Yourself Back, depending on the card and the Pay Yourself Back promotion. (Note, this doesn’t include Chase’s co-branded airline credit cards, which earn a different type of rewards currency.)
If you’re able to redeem your points at an elevated rate, Pay Yourself Back is a more lucrative redemption option compared to receiving cash back. The following cards offer Pay Yourself Back redemptions on eligible purchases at a rate higher than the one cent per point received on cash back redemptions.
| Chase Card | Pay Yourself Back Point Value |
|---|---|
| Chase Sapphire Reserve® | 1 - 1.25 cents each |
| Chase Sapphire Preferred® Card | 1 - 1.25 cents each |
| Chase Freedom® Chase Freedom Flex℠ Chase Freedom Rise℠ Credit Card Chase Freedom Unlimited® | 1 - 1.25 cents each |
| Ink Business Preferred® Credit Card Ink Business Premier® Credit Card Ink Business Cash® Credit Card Ink Business Unlimited® Credit Card Ink Plus® Business Credit Card | 1 - 1.25 cents each |
One thing to keep in mind is that only select purchases are eligible for Pay Yourself Back. Some cards are more restrictive than others. If you have purchases outside of the eligible Pay Yourself Back categories, you’re limited to other redemption choices.
Determining if Chase’s Pay Yourself Back is worth it depends on how you prefer to redeem Chase Ultimate Rewards® points. Pay Yourself Back points have a value that ranges from 0.8 cents to 1.25 cents, depending on your card.
If you’re eligible for an elevated rate, Pay Yourself Back is a valuable option to consider. Points earned with cards like Chase Sapphire Reserve® and Chase Sapphire Preferred® Card are worth more when redeemed for travel through Chase Ultimate Rewards®. They also allow you to transfer points to travel partner programs. Generally, credit card travel point redemptions offer more value than statement credits through Pay Yourself Back.
The information related to the Aeroplan® Card, Chase Sapphire Reserve® and Chase Sapphire Preferred® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
