If Chase’s Pay Yourself Back hasn’t been on your radar in a while, it may be worth brushing up on it.
Not only does this potentially lucrative option include a broad list of Chase cards, but some redemption rates are also eye-catching.
Chase offers its Pay Yourself Back benefit on some cobranded credit cards, including Southwest Airlines cards, United Airlines cards, the Chase Air Canada Aeroplan® Credit Card (see rates and fees) and the Marriott Bonvoy Bold® Credit Card (see rates and fees).
Many of these current offers are valid now through Dec. 31.
Here’s everything you need to know about using Chase Pay Yourself Back.
What is Chase Pay Yourself Back?
Pay Yourself Back is a unique redemption option within Chase’s Ultimate Rewards program, offering cardmembers an alternative to redeeming rewards for travel.
The categories have evolved over time, and it’s worth checking them each quarter to see if they’re a good use of your rewards.
In short, the Pay Yourself Back option allows many Chase cardholders to redeem rewards at a value similar to what they would pay when booking travel. This won’t typically yield the same maximum value for your Ultimate Rewards points as strategic use of transfer partners can, but it can get pretty close.
It could be a good choice if you’re looking for a simple redemption or have a pile of rewards that you cannot immediately use.
Some Chase-cobranded airline cards (and a Marriott card) are also eligible for Pay Yourself Back. The rate at which you can redeem for some categories with these cards’ rewards is over the average return you’ll likely get when using your rewards to book travel.
What purchases are eligible for Pay Yourself Back?
Here are the current categories eligible for Pay Yourself Back:
| Card | Redemption value | Current end date |
|---|---|---|
| <ul> <li><strong><a href=”https://thepointsguy.com/oc/221211836?pid=221211836&name=Chase%20Sapphire%20Reserve%C2%AE&issuer=Chase” target=”_blank”>Chase Sapphire Reserve®</a></strong> (see <a href=”/tc/221211836?pid=221211836&name=Chase%20Sapphire%20Reserve%C2%AE&data-testid=ratesFees” target=”_blank”>rates and fees</a>)</li> <li><strong>J.P. Morgan Reserve Card</strong></li> </ul> |
<ul> <li>Qualifying charities: 1.50 cents per point</li> <li>Cardholder annual fee: 1.25 cents per point</li> <li>Department stores: 1.2 cents per point</li> <li>Wholesale clubs and grocery stores (excluding Target and Walmart): 1.15 cents per point</li> </ul> |
Dec. 31 |
| <strong><a href=”https://thepointsguy.com/oc/22125056?pid=22125056&name=Chase%20Sapphire%20Preferred%C2%AE%20Card&issuer=Chase” target=”_blank”>Chase Sapphire Preferred® Card</a></strong> (see <a href=”/tc/22125056?pid=22125056&name=Chase%20Sapphire%20Preferred%C2%AE%20Card&data-testid=ratesFees” target=”_blank”>rates and fees</a>) | <ul> <li>Qualifying charities: 1.25 cents per point</li> <li>Cardholder annual fee: 1.1 cents per point</li> </ul> |
Dec. 31 |
| <ul> <li><strong><a href=”https://thepointsguy.com/oc/7538?pid=7538&name=Chase%20Freedom%20Flex%C2%AE&issuer=Chase” target=”_blank”>Chase Freedom Flex®</a></strong> (see <a href=”/tc/7538?pid=7538&name=Chase%20Freedom%20Flex%C2%AE&data-testid=ratesFees” target=”_blank”>rates and fees</a>)</li> <li><strong><a href=”https://thepointsguy.com/oc/221211281?pid=221211281&name=Chase%20Freedom%20Unlimited%C2%AE&issuer=Chase” target=”_blank”>Chase Freedom Unlimited®</a></strong> (see <a href=”/tc/221211281?pid=221211281&name=Chase%20Freedom%20Unlimited%C2%AE&data-testid=ratesFees” target=”_blank”>rates and fees</a>)</li> <li><strong>Chase Freedom</strong></li> <li><strong><a href=”https://thepointsguy.com/oc/10965?pid=10965&name=Sapphire%20Reserve%20for%20Business%E2%84%A0&issuer=Chase” target=”_blank”>Chase Sapphire Reserve for Business℠</a></strong> (see <a href=”/tc/10965?pid=10965&name=Sapphire%20Reserve%20for%20Business%E2%84%A0&data-testid=ratesFees” target=”_blank”>rates and fees</a>)</li> </ul> |
Qualifying charities: 1.25 cents per point | Dec. 31 |
| <ul> <li><strong><a href=”https://thepointsguy.com/oc/221211974?pid=221211974&name=Ink%20Business%20Preferred%C2%AE%20Credit%20Card&issuer=Chase” target=”_blank”>Ink Business Preferred® Credit Card</a></strong> (see <a href=”/tc/221211974?pid=221211974&name=Ink%20Business%20Preferred%C2%AE%20Credit%20Card&data-testid=ratesFees” target=”_blank”>rates and fees</a>)</li> <li><strong><a href=”https://thepointsguy.com/oc/22125825?pid=22125825&name=Ink%20Business%20Cash%C2%AE%20Credit%20Card&issuer=Chase” target=”_blank”>Ink Business Cash® Credit Card</a></strong> (see <a href=”/tc/22125825?pid=22125825&name=Ink%20Business%20Cash%C2%AE%20Credit%20Card&data-testid=ratesFees” target=”_blank”>rates and fees</a>)</li> <li><strong><a href=”https://thepointsguy.com/oc/8489?pid=8489&name=Ink%20Business%20Premier%C2%AE%20Credit%20Card&issuer=Chase” target=”_blank”>Ink Business Premier® Credit Card</a></strong> (see <a href=”/tc/8489?pid=8489&name=Ink%20Business%20Premier%C2%AE%20Credit%20Card&data-testid=ratesFees” target=”_blank”>rates and fees</a>)</li> <li><strong><a href=”https://thepointsguy.com/oc/6218?pid=6218&name=Ink%20Business%20Unlimited%C2%AE%20Credit%20Card&issuer=Chase” target=”_blank”>Ink Business Unlimited® Credit Card</a></strong> (see <a href=”/tc/6218?pid=6218&name=Ink%20Business%20Unlimited%C2%AE%20Credit%20Card&data-testid=ratesFees” target=”_blank”>rates and fees</a>)</li> </ul> |
Qualifying charities: 1.25 cents per point | Dec. 31 |
| <strong><a href=”https://thepointsguy.com/oc/8103?pid=8103&name=Chase%20Air%20Canada%20Aeroplan%C2%AE%20Credit%20Card%20&issuer=Chase” target=”_blank”>Air Canada Aeroplan Credit Card</a></strong> | <ul> <li>Cardholder annual fee: 1.25 cents per point (potentially up to 2 cents per point for a limited time)</li> <li>Travel purchases (up to 200,000 points or $2,500 annually; only purchases made at select merchants within 90 days before the redemption request date): 1.25 cents per point</li> <li>Purchases at restaurants, gas stations and grocery stores (excluding Target, Walmart and wholesale clubs): 0.8 cents per point</li> <li>Promotional categories (when available): 0.8 cents per point</li> </ul> |
Ongoing perk |
| <strong>United Airlines personal and business credit cards</strong> | <ul> <li>Cardholder annual fee: 1.35 to 1.5 cents per mile (depending on which card you have)</li> <li>United airfare purchases (of at least $50 made directly with the airline): 1 cent per mile</li> </ul> |
Ongoing perk |
| <strong>Southwest Airlines personal and business credit cards</strong> | Cardholder annual fee (within 90 days of the transaction date): 1 cent per point | Ongoing perk |
| <strong><a href=”https://thepointsguy.com/oc/6696?pid=6696&name=Marriott%20Bonvoy%20Bold%C2%AE%20Credit%20Card&issuer=Chase” target=”_blank”>Marriott Bonvoy Bold Credit Card</a></strong> | Travel purchases made directly with airlines or Marriott Bonvoy hotels (up to $750 total per year): 0.8 cents per point | Ongoing perk |
| Disney credit cards | <ul> <li>Purchases made at select U.S. Disney locations in Disney Parks and Resorts, Disney Store and outlet locations in the U.S., DisneyStore.com, DisneyPlus.com, Hulu.com and Stream.ESPN.com (in the past 90 days): 1 Disney Rewards Dollar per dollar</li> <li>Those with a <strong><a href=”https://thepointsguy.com/oc/11050?pid=11050&name=Disney%C2%AE%20Inspire%20Visa%C2%AE%20Card&issuer=Chase” target=”_blank”>Disney® Inspire Visa® Card</a></strong> (see <a href=”/tc/11050?pid=11050&name=Disney%C2%AE%20Inspire%20Visa%C2%AE%20Card&data-testid=ratesFees” target=”_blank”>rates and fees</a>) or a <strong><a href=”https://thepointsguy.com/oc/9969?pid=9969&name=Disney%C2%AE%20Premier%20Visa%C2%AE%20Card&issuer=Chase” target=”_blank”>Disney® Premier Visa® Card</a></strong> (see <a href=”/tc/9969?pid=9969&name=Disney%C2%AE%20Premier%20Visa%C2%AE%20Card&data-testid=ratesFees” target=”_blank”>rates and fees</a>) can redeem Disney Rewards Dollars toward airline purchases booked directly with an airline (in the past 90 days): 1 Disney Rewards Dollar per dollar</li> </ul> |
Ongoing perk |
The information for the J.P. Morgan Reserve and Chase Freedom has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The list of charities for Pay Yourself Back includes:
- Alzheimer’s Association
- American Heart Association
- American Red Cross
- Equal Justice Initiative
- Feeding America
- GLSEN
- Habitat for Humanity
- International Medical Corps
- International Rescue Committee
- Leadership Conference Education Fund
- Make-A-Wish America
- NAACP Legal Defense and Education Fund
- National Urban League
- Out and Equal Workplace Advocates
- SAGE
- Thurgood Marshall College Fund
- United Negro College Fund
- UNICEF USA
- United Way
- World Central Kitchen
Let’s say you wanted to redeem 10,000 points on your Chase Sapphire Reserve. For most purchases, you’ll get a $100 statement credit when redeeming 10,000 points.
But for those same 10,000 points, you’ll get a credit of $150 when you redeem them for an eligible charity donation.
Requesting a credit
Requesting a credit through Chase’s Pay Yourself Back program is relatively straightforward. Log in to your eligible Chase account option in the redemption menu
Next, you’ll see a list of eligible purchases for which you can redeem rewards. Rewards can be redeemed for purchases dating back 90 days. It typically indicates whether more value is available.
You can offset all or part of an eligible purchase (subject to any redemption caps).
From there, you can confirm the redemption value and the required number of rewards, then choose to complete the transaction. Your statement credit should post within a week or so.
Statement credit options on other purchases
Chase has long offered the option to redeem rewards for a statement credit. To do this, log in to your Ultimate Rewards account, hit the drop-down menu and select “Cash Back.”
You’ll be given an option to enter the amount you’d like to redeem and where you’d like your rewards deposited. All cash-back redemptions are fixed at 1 cent per point, which is a little less than half of TPG’s October 2026 valuation of Ultimate Rewards at 2.05 cents per point.
That redemption value is also lower than many of the above Pay Yourself Back options.
Even so, Chase’s traditional cash-back option is more generous than what you can expect from some other issuers.
Bottom line
Chase’s Pay Yourself Back feature provides valuable flexibility for many cardholders.
Ultimately, whether you should redeem your balance in this way depends on how you plan to use your rewards, how many you currently have and whether or not you’d benefit significantly from the statement credits.
If the categories for the fourth quarter of 2026 don’t work out for you, be sure to check back in for the first quarter of 2027 to see if you should use this benefit then.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
Source: thepointsguy.com
