Chase unveils major expansion of Pay Yourself Back program

Sep 28, 2020

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Those holding the Chase Ink Plus Business Credit Card, Ink Business Preferred Credit Card and the Freedom cards will now have access to the Pay Yourself Back program. Ink cardholders can access the program between Oct.1 and Dec. 31, 2020, while Freedom cardholders have access indefinitely. Plus cardholders will now be able to use the program to redeem points toward charitable contributions. The Ink Plus card is no longer available for new sign-ups. 

Related: Chase adds limited-time Sapphire benefits to help grounded travelers

Pay Yourself Back, originally announced in May 2020, allows cardholders to use the points they earn to offset certain purchases at a much more favorable rate. Ink Business Preferred and Ink Plus Business cardmembers’ points will be worth 25% for online advertising and shipping purchases through Dec. 31, 2020. Points earned through other Ultimate Rewards-eligible cards — including Chase Freedom, Chase Freedom Unlimited and the new Chase Freedom Flex — will be worth 25% more when redeemed toward donations made to eligible charitable organizations, also through Dec. 31, 2020. The information for the Chase Freedom, Freedom Unlimited and the Freedom Flex has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Chase Sapphire Reserve and Preferred cardmembers’ points will continue to be worth 50% and 25% more, respectively, for purchases made at grocery stores, home improvement stores and dining establishments, including take-out and delivery services, through April 30, 2021.

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Under Pay Yourself Back, instead of receiving a statement credit of $100 when redeeming 10,000 Ultimate Rewards points, a Chase Sapphire Reserve cardholder, for example, would receive a credit of $150, for the same redemption amount, when offsetting purchases in the categories outlined above. This matches the 1.5-cent rate offered on Ultimate Rewards travel redemptions.

Those holding these credit cards will now be able to use Pay Yourself Back to redeem points toward contributions made to charitable organizations. After making a purchase in an eligible category or making a donation to an eligible charity, cardmembers can select from recent transactions made up to 90 days prior, choose to redeem points for all or a portion of the purchase and get paid back with a statement credit.

Access the Pay Yourself Back feature by logging in to the Ultimate Rewards website.

Related: Maximizing cash back with Chase’s Pay Yourself Back feature

Featured photo by Wyatt Smith/The Points Guy

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CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

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  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
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