Chase Sapphire Reserve Extends ‘Pay Yourself Back’ Categories
Update: The gas and grocery categories have been extended for three more months. You can find the following information in your Chase Sapphire Reserve accounts today: “Get 25% more value with Pay Yourself Back. Redeem points for statement credits toward eligible grocery store and gas station purchases by 12/31/23.”
Original article: Chase slashed the bonus on the Sapphire Reserve ‘Pay Yourself Back’ categories last year. The value of points went down from 1.5 cents to 1.25 cents on most popular categories. But as a consolation prize, Chase added some new categories such as Gas, Groceries and Annual fee.
Now it seems that two of those categories, Gas and Annual fee, have been extended through the end of the next quarter, as reported by Doctor of Credit. It’s not clear if the Grocery category will be extended for three more months.
Chase Sapphire Reserve ‘Pay Yourself Back’ Categories
Ultimate Rewards points may be redeemed for a statement credit using Pay Yourself Back for purchases made at select merchants or against the prior payment of your annual fee within the 90 days before the redemption request date. Currently, only redemptions against purchases made with your Chase Sapphire Reserve card with Ultimate Rewards at gas stations or against the prior payment of your annual fee and redeemed through 06/30/2023 will qualify. For information about Chase rewards categories and a list of eligible merchants, please see our FAQs at chase.com/RewardsCategoryFAQs. Categories, eligible merchants, and purchase transaction eligibility may change from time to time without notice. Redemptions require a minimum of 1 point. Each point you redeem for a statement credit towards eligible purchases at gas stations or against the prior payment of your annual fee via Pay Yourself Back is worth $.0125 (one and a quarter cents), which means that 100 points equals $1.25 in redemption value. Chase has the right to change redemption values at any time. Statement credits will post to the card account within 3 business days of a request to redeem and will appear on the monthly Chase credit card billing statement within 1-2 billing cycles. Statement credits will reduce your balance but you are still required to make at least your minimum monthly payment. Chase reserves the right to determine which purchases qualify for a statement credit.”
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