What Is Chase Pay Yourself Back and How It Works

Chase Pay Yourself Back is a feature that allows you to earn cash back as a statement credit. This means you can essentially pay yourself back on purchases made with your Chase credit card.

To qualify for Chase Pay Yourself Back, you need to have a Chase credit card that offers this benefit. Check your credit card agreement to see if it's included.

The benefit is usually offered on certain credit cards, such as the Chase Sapphire Preferred Card, which offers 2% cash back on dining and takeout purchases.

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Chase Pay Yourself Back is a feature that allows you to earn 5% cash back on up to $1,500 in combined purchases in a calendar year.

You can use this feature on your Chase credit card, such as the Chase Freedom Unlimited or Chase Freedom Flex.

To qualify, you must make at least $1,500 in combined purchases within a 12-month period, and you must pay your balance in full each month.

The 5% cash back reward is applied to the first $1,500 in combined purchases each year, and then 1.5% cash back on all other purchases.

This feature is a great way to earn cash back on your everyday purchases, such as groceries, gas, and dining.

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Eligible credit card categories for Chase's Pay Yourself Back feature include various purchases and annual fees.

Chase Sapphire Reserve cardholders can redeem points for select charities at 1.5 cents per point. The same redemption value applies to cardholder annual fees for this card.

Chase Sapphire Preferred cardholders can redeem points for select charities at 1.25 cents per point.

Chase Freedom Flex, Chase Freedom Unlimited, and Chase Freedom cardholders can also redeem points for select charities at 1.25 cents per point.

Other eligible categories include utilities, insurance, gas stations, fitness clubs, and gym memberships, redeemable at 1.25 cents per point.

Ink Business Preferred, Ink Business Premier, Ink Business Cash, and Ink Business Unlimited cardholders can redeem points for select charities at 1.25 cents per point.

Chase United credit cards (excluding no-annual-fee cards) allow cardholders to redeem points for cardholder annual fees and airfare tickets purchased through United at 1.5-1.75 cents per mile.

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Here are some specific eligible categories for each card:

To use Chase Pay Yourself Back, log into your Chase account or open the Chase mobile app and go to Chase Ultimate Rewards. From there, select the Pay Yourself Back redemption option.

You'll see a list of eligible purchases you made in the past 90 days. If you made a purchase, say $1,000, you can redeem your points for a 25% value boost, which means you'll get $125 in statement credits.

To redeem points, go to the "Ultimate Rewards" page linked to your account and choose "Pay Yourself Back" from the menu bar on the left side of the page. You can choose one of up to 12 recent eligible purchases listed.

The system will tell you how many days you have left to redeem points toward each transaction. After 90 days, you will no longer be able to use points for that purchase.

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You can choose how many of your available Ultimate Rewards points you want to apply to each purchase. Finalize the request to redeem your points for a statement credit.

Here's a step-by-step guide to redeeming points for Pay Yourself Back:

You can earn extra cash back through Chase Pay Yourself Back on specific purchases, and it varies depending on the type of Chase credit card you have.

If you have a Chase Sapphire Reserve card, you can earn 1.5 cents per point on gas and grocery purchases through September 3, 2023. This is a great opportunity to stock up on essentials and earn more cash back.

Cardholders with the Chase Sapphire Preferred card can earn 1.25 cents per point on select charities through December 31, 2023. This is a great way to support your favorite charities while earning rewards.

Certain Chase credit cards, such as the Chase Freedom Flex and Chase Freedom Unlimited, offer 1.25 cents per point on select charities through December 31, 2023. This is a great option for those who want to earn rewards on everyday purchases.

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Here are some specific eligible categories for each card:

Aeroplan Credit Card holders can earn 1.25 cents per point on travel purchases in the past 90 days, as well as cardholder annual fees, through December 31, 2023.

The Chase Pay Yourself Back feature is available on several credit cards, including the Chase Freedom Flex℠, Chase Freedom Unlimited®, and Chase Sapphire Preferred Card. These cards allow you to redeem points for cash back on certain purchases.

If you have one of these cards, you can use Pay Yourself Back to increase the value of your rewards. You can redeem points for 1.25 cents each to pay back charges like utilities, insurance, and fitness clubs. This feature is available through December 31, 2024.

Not all cards are eligible for Pay Yourself Back, so it's essential to check your card details before using this feature. Some cards, like the Chase Sapphire Reserve, offer additional benefits, such as a 50 percent boost on eligible charity redemptions.

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Here are some of the Chase credit cards that offer Pay Yourself Back:

You can earn Chase Pay Yourself Back points on purchases from various categories, but these categories are constantly evolving, so it's essential to stay up-to-date.

Some examples of categories where you can earn points include grocery stores, gas stations, and dining establishments.

You can also earn points on charitable donations to participating organizations, such as Habitat for Humanity and the American Red Cross.

Here are some participating charities where you can earn points on your donations:

Keep in mind that you'll only receive reward points if you donate to the parent companies, not local offices.

You can earn points on charitable donations made with your Chase card. There are several participating charities, including Habitat for Humanity, American Red Cross, and World Central Kitchen.

These charities are part of the Chase Ultimate Rewards program, so you'll earn points on your donations. You can redeem these points against your Chase credit card accounts.

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To earn points, make sure to donate to the parent companies, not local offices. This ensures that your donation is tracked and points are earned.

Here are some of the participating charities where you can earn points on your donations:

Credit cards can be a great way to earn points, with some offering as many as 5 points for every dollar spent on certain purchases. Many credit cards also offer sign-up bonuses, which can be worth hundreds or even thousands of dollars.

Some credit cards offer 1-2 points per dollar spent, while others offer 3-5 points per dollar spent on specific categories like travel, dining, or groceries. The Chase Sapphire Preferred card, for example, offers 2 points per dollar spent on travel and dining purchases.

Earning points can be as simple as making everyday purchases with a rewards credit card, and some cards offer points on every purchase, regardless of the category. The Citi Double Cash card, for instance, offers 2% cash back on every purchase, with 1% back at the time of purchase and another 1% back after the purchase is paid off.

Rewards credit cards often have rotating categories that offer bonus points, which can be a great way to earn extra points on specific purchases. For example, the Discover it card offers 5% cash back on various categories throughout the year, such as gas stations, grocery stores, and restaurants.

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The decision to use Chase's Pay Yourself Back feature ultimately depends on how you plan to use your points, with flexibility being a valuable perk for many cardholders.

You should consider whether redeeming your balance in this way would benefit you significantly, taking into account how many points you currently have.

Chase's Pay Yourself Back feature provides valuable flexibility, but it's essential to weigh the pros and cons before making a decision.

Ultimately, whether you should redeem your balance in this way depends on your individual circumstances, including how you plan to use your points and how many you currently have.

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