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 March 31, 2022 somewhat. Remember, this means that for now, Points are worth 1.25/1.5 cents when you redeem for categories other than travel.
The categories that now 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 as follows:
For the Sapphire Reserve-you can still redeem at 1.5 cents for dining (yay) but no longer grocery stores and home improvement stores. Dining includes restaurants, takeout and delivery services. You can also redeem for 1.5 cents at Airbnb and Away thru 3/31/22 and at certain charitable organizations through 12/31/22. You can use the feature on transactions up to 90 days prior.
For the Sapphire Preferred, you can only redeem at the 1.25 cents rate for Airbnb and Away thru 3/31/22 and at certain charitable organizations through 12/31/22. You can use the feature on transactions up to 90 days prior. Note, you can no longer redeem for dining at the 1.25 cents rate (boo!).
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.
