Attn: Sapphire Preferred (1.25) and Sapphire Reserve (1.5) cardholders
Set to expire on September 30th, Chase is extending their “pay yourself back feature” through April 30, 2021 September 30, 2021. Remember, this means that for now, Points are worth 1.25/1.5 cents when you redeem for categories other than travel.
Remember, the categories that provide the option to apply points to pay for all or a portion of existing purchases AT 1.25/1.5 CENTS PER POINT are grocery stores, home improvement stores and dining, including restaurants, takeout and delivery services. Also included are certain charitable organizations. And with the Chase Sapphire Reserve you can also pay yourself back for the $550 annual fee.
You can use the feature on transactions up to 90 days prior.
To apply your points at the favorable 1.25/1.5 cents per point rate you need to log into Ultimate Rewards, then go to “redeem” and go to “pay yourself back” and select from recent transactions up to 90 days prior. You can choose to redeem points for all or a portion of the purchase.
I am still saving mine for future travel redemptions, but it’s nice that Chase extended this option.
