Aug 12, 2020, 3:23 pm
Last edit by: blueman2
Chase Pay Yourself Back Feature
Pay Yourself Back Rotating Category "Extra bonus boost when using UR points for payment" option
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Currently, the categories for pay yourself back are: grocery stores and dining at restaurants (including takeout & eligible delivery services), home improvement stores and select charitable organizations. Redeem for purchases in these categories made with your Chase card with Ultimate Rewards.
After each purchase posts, you have 90 days to pay yourself back.
+50% MORE POINTS VALUE
You'll get 50% more value from your points when you pay yourself back for eligible purchases listed below.
How does Pay Yourself Back work?
Step icon one
HOW DO I PAY MYSELF BACK?
First select one or more recent eligible purchases listed and hit "Continue" to go to the next step. Then apply some or all of your available Ultimate Rewards points to each transaction you selected and hit "Confirm & Submit" to redeem your points for a statement credit.
Step icon two
HOW DO I APPLY MY POINTS TO SELECTED PURCHASES?
Enter a dollar amount for each transaction, up to the original purchase amount, based on your available Ultimate Rewards points balance. Or select "Apply Full Amount" and we'll apply your available points up to the full cost of each eligible purchase.
Step icon three
WHEN WILL I RECEIVE MY STATEMENT CREDIT?
Once you've submitted your order, it will take 2-3 days for your statement credit to appear on your account.
10/15/2020- Chase has added the Pay Yourself Back feature to the Ink Plus and Preferred Cards: https://www.chase.com/business/credit-cards/ink/inkofferscta?jp_aid_a=T_64096&jp_aid_p=chasehome_3/hero
3/10/2022 - Chase extended the PYB categories for Dining and Annual Fee until 6/30/2022 (was set to expire 3/31/2022) for CSR
9/28/2022 - Chase extended the PYB categories for Dining until 12/31/2022 (was set to expire 9/30/2022) for CSR
Pay Yourself Back Rotating Category "Extra bonus boost when using UR points for payment" option
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Currently, the categories for pay yourself back are: grocery stores and dining at restaurants (including takeout & eligible delivery services), home improvement stores and select charitable organizations. Redeem for purchases in these categories made with your Chase card with Ultimate Rewards.
After each purchase posts, you have 90 days to pay yourself back.
+50% MORE POINTS VALUE
You'll get 50% more value from your points when you pay yourself back for eligible purchases listed below.
How does Pay Yourself Back work?
Step icon one
HOW DO I PAY MYSELF BACK?
First select one or more recent eligible purchases listed and hit "Continue" to go to the next step. Then apply some or all of your available Ultimate Rewards points to each transaction you selected and hit "Confirm & Submit" to redeem your points for a statement credit.
Step icon two
HOW DO I APPLY MY POINTS TO SELECTED PURCHASES?
Enter a dollar amount for each transaction, up to the original purchase amount, based on your available Ultimate Rewards points balance. Or select "Apply Full Amount" and we'll apply your available points up to the full cost of each eligible purchase.
Step icon three
WHEN WILL I RECEIVE MY STATEMENT CREDIT?
Once you've submitted your order, it will take 2-3 days for your statement credit to appear on your account.
10/15/2020- Chase has added the Pay Yourself Back feature to the Ink Plus and Preferred Cards: https://www.chase.com/business/credit-cards/ink/inkofferscta?jp_aid_a=T_64096&jp_aid_p=chasehome_3/hero
3/10/2022 - Chase extended the PYB categories for Dining and Annual Fee until 6/30/2022 (was set to expire 3/31/2022) for CSR
9/28/2022 - Chase extended the PYB categories for Dining until 12/31/2022 (was set to expire 9/30/2022) for CSR
Pay Yourself Back - Sapphire Reserve & Preferred, INK Preferred & Plus (2020-2023)
Jul 5, 2020, 9:41 am
#91
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS 75k, AA Plat, Bonvoyed Gold, Honors Dia, Hyatt Explorer, IHG Plat, ...
Posts: 16,848
How much do you value your Marriott points? That should answer your question.
I personally have switched to the Hilton Aspire for 12x. And after July I will likely use my CFU for 1.5 UR.
Jul 5, 2020, 1:31 pm
#92
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
With the CSR you’d get 1.5c back, a simple 2% cash back card would let you earn 2% (if you had it).
How much do you value your Marriott points? That should answer your question.
I personally have switched to the Hilton Aspire for 12x. And after July I will likely use my CFU for 1.5 UR.
How much do you value your Marriott points? That should answer your question.
I personally have switched to the Hilton Aspire for 12x. And after July I will likely use my CFU for 1.5 UR.
In other words, the temp 5x was just icing on the cake. The ability to cash out the UR pts almost like cash redemption but at 50% higher rate is where the PYB value lies - because there are many ways to earn UR pts from all Chase UR cards and all can be pooled to the account with the best redemption option.
As for your HH card grocery spend, let's hope all your grocery spend on the HH is organic, i.e. up and up that can stand any RAT scrutiny in case you have not read the "news" yet. (The same "news" apply to all AMEX cobrand cards that have temp grocery spend bonus enhancement, fwiw.)
Jul 5, 2020, 2:37 pm
#93
Join Date: May 2011
Location: NYC (LGA, JFK), CT
Programs: Delta Platinum, American Gold, JetBlue Mosaic 4, Marriott Platinum, Hyatt Explorist, Hilton Diamond,
Posts: 4,895
My local supermarket is Whole Foods, so I am using the Chase Freedom for that spend. For random other supermarket spend (bodega, Gristedes, other markets), I am using a mix of Bonvoy Brilliant, Delta Reserve and Citi Premier. But honestly the various Chase bonuses prevented me from taking full advantage of the Amex grocery bonuses.
Aug 2, 2020, 1:20 pm
#94
Join Date: Sep 2006
Posts: 524
So just to make sure I am thinking about this right, here is an example of what I want to do:
I can walk into a Home Depot, buy $1500 of gift cards to another merchant (since my local Home Depot carries third party gift cards), and then "pay myself back" for the Home Depot purchase using 100,000 UR Points (100,000 pts = $1000 x 1.5 bonus = $1500).
Is this right?
I can walk into a Home Depot, buy $1500 of gift cards to another merchant (since my local Home Depot carries third party gift cards), and then "pay myself back" for the Home Depot purchase using 100,000 UR Points (100,000 pts = $1000 x 1.5 bonus = $1500).
Is this right?
Aug 2, 2020, 2:05 pm
#95
Join Date: Dec 2014
Posts: 86
So just to make sure I am thinking about this right, here is an example of what I want to do:
I can walk into a Home Depot, buy $1500 of gift cards to another merchant (since my local Home Depot carries third party gift cards), and then "pay myself back" for the Home Depot purchase using 100,000 UR Points (100,000 pts = $1000 x 1.5 bonus = $1500).
Is this right?
I can walk into a Home Depot, buy $1500 of gift cards to another merchant (since my local Home Depot carries third party gift cards), and then "pay myself back" for the Home Depot purchase using 100,000 UR Points (100,000 pts = $1000 x 1.5 bonus = $1500).
Is this right?
(You missed the chance in May/June to earn 5x points at grocery stores, which made this tactic especially worthwhile.)
Aug 3, 2020, 6:44 am
#96
Join Date: Sep 2011
Posts: 1,857
So just to make sure I am thinking about this right, here is an example of what I want to do:
I can walk into a Home Depot, buy $1500 of gift cards to another merchant (since my local Home Depot carries third party gift cards), and then "pay myself back" for the Home Depot purchase using 100,000 UR Points (100,000 pts = $1000 x 1.5 bonus = $1500).
Is this right?
I can walk into a Home Depot, buy $1500 of gift cards to another merchant (since my local Home Depot carries third party gift cards), and then "pay myself back" for the Home Depot purchase using 100,000 UR Points (100,000 pts = $1000 x 1.5 bonus = $1500).
Is this right?
Aug 6, 2020, 3:45 pm
#97
Moderator: Hyatt; FlyerTalk Evangelist
Join Date: Jun 2015
Location: WAS
Programs: :rolleyes:, DL DM, Mlife Plat, Caesars Diam, Marriott Tit, UA Gold, Hyatt Glob, invol FT beta tester
Posts: 18,928
Just got an email with the subject "New benefit: Redeem points for 50% more value in new categories"
Of which I think charitable organizations is the only new thing, right?
https://ultimaterewardspoints.chase....yourself-back/
Try a new way to redeem your points. Through September 30, 2020, your points are worth 50% more when you redeem for statement credits after using your card at grocery stores and dining at restaurants (including takeout & eligible delivery services), home improvement stores and select charitable organizations.*
To ensure your charitable donation purchase is eligible for Pay Yourself Back, please donate directly to the charity's parent organization. See the Pay Yourself Back FAQs for a list of eligible charities. Local chapters may not be eligible for Pay Yourself Back.
The following charitable organizations are currently eligible for Pay Yourself Back: American Red Cross, Equal Justice Initiative, Feeding America, Habitat for Humanity, International Medical Corporation, Leadership Conference Education Fund, NAACP Legal Defense and Education Fund, National Urban League, Thurgood Marshall College Fund, United Negro College Fund, United Way, and World Central Kitchen.
Aug 7, 2020, 9:43 am
#98
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS 75k, AA Plat, Bonvoyed Gold, Honors Dia, Hyatt Explorer, IHG Plat, ...
Posts: 16,848
https://www.doctorofcredit.com/chase...ption-options/
But yes, the other categories are not changed. When I got the email, I initially thought they were announcing new categories for future reimbursements.
Aug 12, 2020, 3:25 pm
#99
Moderator: Travel Buzz
Join Date: Aug 2012
Location: Sunny San Diego
Posts: 3,099
Moderator Note: Wiki post created, since it looks like this feature is sticking around for a while.
Aug 13, 2020, 8:42 am
#100
Join Date: Apr 2011
Programs: Marriott Ambassador, AA ExecPlat, Amtrak Select Exec, former WN apologist
Posts: 1,428
I am guessing they will continue some sort of rotating categories for the 50% bonus. They went through all the trouble to build this functionality, which wouldn't make a ton of sense if the long-term reward rate was the same as just getting cash back (everyone logically would just take direct deposit rather than picking through specific transactions).
Aug 13, 2020, 1:03 pm
#101
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS 75k, AA Plat, Bonvoyed Gold, Honors Dia, Hyatt Explorer, IHG Plat, ...
Posts: 16,848
I am guessing they will continue some sort of rotating categories for the 50% bonus. They went through all the trouble to build this functionality, which wouldn't make a ton of sense if the long-term reward rate was the same as just getting cash back (everyone logically would just take direct deposit rather than picking through specific transactions).
Aug 13, 2020, 3:43 pm
#102
Join Date: Apr 2011
Programs: Marriott Ambassador, AA ExecPlat, Amtrak Select Exec, former WN apologist
Posts: 1,428
I agree that would be logical for Chase. But even if so, it is still a pretty good deal. Say they set a category, and I charge something in that category on my CSR rather than my "usual" 2% cash back card. Once I account for the lost half a percent in cash back, I am still getting redemption value of 1.4925 per UR point (vs 1.5 via travel portal). The slight devaluation is probably worth not having to deal with Chase Travel (let alone the fact that my travel is near zero in covid world).
Aug 13, 2020, 8:28 pm
#103
Join Date: Feb 2000
Location: Denver, CO, USA
Programs: Former 1KMM now free as UA Gold MM, former HH D, Marriott Lifetime Plat
Posts: 1,121
Aug 13, 2020, 11:50 pm
#104
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS 75k, AA Plat, Bonvoyed Gold, Honors Dia, Hyatt Explorer, IHG Plat, ...
Posts: 16,848
Aug 14, 2020, 7:37 am
#105
Join Date: Jan 2003
Posts: 3,785
Yeah I have CFU too, but usually I spent my grocery on my BoA Premium Reward card. Now I am spending all grocery on CSR for the Pay Yourself Back. Same with Lowes and Home Depot purchases... which actually increased by a lot since locked down. Seems like everyone staying home decided to fix things or improve things in their houses.