Chase Cuts ‘Pay Yourself Back’ Bonus for Some Sapphire Reserve Categories

Chase Sapphire Reserve PYB Categories

Chase Cuts ‘Pay Yourself Back’ Bonus for Some Sapphire Reserve Categories

Chase Sapphire Reserve has been offering Pay Yourself Back categories for a while now. This is an option on Freedom cards, Ink business cards, Sapphire Preferred and Sapphire Reserve. You can get up to a 50% bonus when redeeming Ultimate Rewards points for select purchases. The best value is for Chase Sapphire Reserve cardholders.

To access the Pay Yourself Back feature, cardmembers can simply log into Ultimate Rewards on their desktop at http://www.chase.com/ultimaterewards or through the Chase mobile app.

With the 50% bonus Chase Sapphire Reserve cardholders can redeem each point for 1.5 cents to cover eligible purchases made within the last 90 days. But now there’s some bad news, some categories are showing a 25% bonus instead of 50%. That’s a huge drop in value for Sapphire Reserve cardholders.

Chase Sapphire Reserve Pay Yourself Back

If you take a look at your Chase Sapphire Reserve account right now, you will probably see the following categories:

  • 50% bonus for Airbnb – 12/31/22
  • 50% bonus for Dining – 12/31/22
  • 50% bonus for Select Charities – 12/31/23
  • 25% bonus for Annual Membership Fee – 3/31/23

Chase seems to be updating categories for the following quarter. As you can see, Charities has been extended through 12/31/23. The Annual membership fee category has been extended through 3/31/23, but only with a 25% bonus instead of 50%.

Additionally, if you look at eligible purchases for Pay Yourself Back, groceries are also eligible. This will likely be added as a category for the next quarter. But these charges only show a 25% bonus only, instead of 50%.

Guru’s Wrap-up

Chase is currently rolling new Pay Yourself Back categories for Q1 2023. But there’s bad news for Chase Sapphire Reserve cardholders. Some categories only have a 25% bonus instead of 50%. That means that you’ll be able to get only a 1.25 cents per point value instead of 1.25.

You can already redeem points for grocery purchases for example, but for only a 25% bonus. The same bonus shows when redeeming points toward the card’s annual fee. So now you need to use 44,000 Ultimate Rewards points to cover the $550 annual fee, instead of 36,667.

I reached out to Chase’s media team to ask for more information about these changes, and I will update the article if I receive a relevant response.

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