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More Chase credit cards are now eligible for the Chase Pay Yourself Back feature. This feature lets you get a point redemption bonus for select purchase statement credits. As you will see, Chase Ultimate Rewards continue to be some of the easiest and most valuable credit card points to redeem.

How Chase Pay Yourself Back Works

Chase Pay Yourself Back first launched in May 2020 for the Chase Sapphire Preferred® Card and Chase Sapphire Reserve®.

Sapphire members can redeem their Ultimate Rewards as a statement credit for statement credits against existing purchases in select, rotating categories. The point redemption value is the same as booking award travel on Chase Ultimate Rewards. For the Sapphire Preferred, each point is worth 1.25 cents each (25% more) and 1.5 cents for the Sapphire Reserve (50% more).

You can redeem points on purchases made within the most recent 90 days. There are no maximum point redemption limits while the Pay Yourself Back feature is active.

Pay Yourself Back is a good way to redeem points as you stay at home. Normally, Chase values Ultimate Rewards at 1 cent each for cash statement credits.


The Chase Pay Yourself Back feature is one credit card perk that many of us didn’t expect at the start of the year. This feature is a great way to make your Chase Ultimate Rewards more valuable if you use your personal or business card for the eligible purchase types.


What are the Chase Pay Yourself Back categories?

The Chase Pay Yourself Back redemption bonus categories vary by credit card family.

Is Chase Pay Yourself Back worth it?

The Chase Pay Yourself Back feature is worth it for the Chase Sapphire credit cards. But, you might be able to find more value from the 1:1 travel transfer partners if you’re still traveling regularly.

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