We previously reported that Chase is extending the 1.25% Pay Yourself Back (PYB) cashout option on the Sapphire Reserve card for the Gas and Annual Fee categories through June 30. It’s now become clear that the Grocery category is also being extended through June as well.
You can see this in an ad on the Ultimate Rewards homepage, image below.
I assume the ‘6/20/23’ is a typo, and that it’s supposed to say ‘6/30/23’. We’ll find out in the coming days. Chase image is fixed now, updated below; it’s valid through 6/30/23.
Hat tip to refarch88
Better use is tansfer to Southwest (1.5c/point) or Hyatt (1.5-2+c/point) in my experience. But I guess if you don’t have travel planned then sure
I’d need 5c+/point to fly Southwest.
Any update to PYB for Chase Ink Cash?
Why do people find this a good use of points? I wouldn’t use Reserve for gas or groceries when i can get back 4%-5%-6% for gas elsewhere and 3% on groceries.. it’s really only about the AF right?
Just charge enough gas/grocery to use up your points, not all gas/grocery. You still come out better that way if you don’t otherwise get more than 1cpp value via travel.
You’re actually getting something like 20% back when counting the 25% increase in the value of the UR you redeem. Obviously only if you have UR you would redeem anyway and have already redeemed against annual fee
Not sure how 20% back works out. But i get it, the gas and groc is kind of irrelevant.
Re 20% back: let’s say you have 100 UR. You can redeem for $1 statement credit or spend $1.25 on gas or grocery to redeem $1.25. Thus, your net benefit for spending $1.25 on gas or grocery is $0.25. Now $0.25 is 20% of $1.25, hence the 20% cash back. Technically, you would get another 1 UR for that $1.25 in gas or grocery, so in reality it is slightly higher than 20% cash back.
Oh sweet summer child.
You’re really useful to have around.
Not as useful as that grocery PYB is to many of us.
i miss the 1.5cpp. i wish they kept the 1.5cpp with rotating promotional retailer partnerships. best buy, lowe’s, whatever.
Getting sick of people wishing for the moon whenever PYB comes up.
The 1.5 cpp PYB was never permanent to begin with and will likely never come back since Chase is no longer in loss leader/customer acquisition mode.
Thoughts and prayers in this difficult time for you
With the right timing, this will be perfect for MDD with the increased Preferred SUB.
Too late Chase, already canceled in in Feb!