Chase has added a new feature called ‘Pay Yourself Back‘ where Chase Sapphire Preferred & Chase Sapphire Reserve cardholders can redeem points for 1.25¢/1.5¢ per point towards purchases made in these categories:
- Grocery Stores
- Dining (includes restaurants, takeout, and eligible delivery services)
- Home improvement stores, such as Home Depot and Lowe’s
One question we had when this benefit was announced was what would happen to points that were earned on those purchases. For example if you make a purchase of $100 at a grocery store using a Chase Sapphire Reserve you’d currently earn 500 points. If you use the ‘Pay Yourself Back’ feature to erase that purchase for 6,667 points would you keep those 500 earned points or would they be forfeit? We reached out to Chase and they confirmed you’ll keep the points earned.
- Chase Announces Major Temporary Benefits On Sapphire Reserve/ Preferred ‘Pay Yourself Back’ (1.5 Cents Cashout; Easy Travel Credit; $450 Renewal)
- Should You Upgrade To The Chase Sapphire Reserve?
- Reminder: You Can Upgrade To The Chase Sapphire Preferred/Reserve From Chase Slate/Freedom Cards
- Does Upgrading To Chase Sapphire Reserve Restart My 48-Month Signup Bonus Clock?