Should You be Tempted by Chase’s “Pay Yourself Back” Offer?

Chase is offering a new way for Sapphire card holders to redeem their Ultimate Reward (UR) points. But does it make sense for you? Let’s move about the socially-distanced cabin and take a look.

What is it?

Chase has dubbed it the “Pay Yourself Back” feature. It allows Sapphire card holders to redeem their points for a statement credit. Another way to look at it is as a purchase eraser.

As with redeeming UR points in the Chase travel portal, the redemption rate will depend on which card you have.

Reader Question: Chase Travel Portal or Transfer to Airline Miles?

Last week I wrote about how and why you'd to want transfer Ultimate Rewards between accounts. If you haven't read it yet, stop and read before continuing with this post.