Not too long ago, Chase introduced a feature on the Sapphire Reserve and Sapphire Preferred that allowed its customers to “pay themselves back”. The way it works is similar to other cards that allow you to “erase” some charges you’ve made on the card by using your points. To Chase’s credit, the value of the points for the Pay Yourself Back program was at the 1.5/1.25 rate that you would get by redeeming the points for travel.
One caveat for this program is that it’s a temporary benefit that was introduced because of COVID 19. We do have some good news on that regard.
The Pay Yourself Back benefit was originally slated to end on September 30th. We are now getting word that it will be extended past this date! According to Chase, it will be a permanent program.
I understand that a few months ago people were pretty optimistic that everything would be back to normal by now, that doesn’t look to be the case. We can argue whether or not Chase originally intended for this to be a permanent program, but I think it’s a good idea for them to keep something like this an option. This program is another way that you could justify a high annual fee travel related credit card at a time when it’s difficult to travel.
Have you benefited from the Pay Yourself Back program from Chase? Let us know how in the comment section below!