Starting in June 2020, Chase Sapphire Preferred and Sapphire Reserve cardholders were given a new way to redeem their Ultimate Rewards points. With the “Pay Yourself Back” tool, you had 90 days to use your points for statement credits that were equal to charges from restaurants, grocery stores and home improvement stores.
Points are worth 1.25 cents each for Sapphire Preferred cardholders and 1.5 cents each if you have a Sapphire Reserve. If you’re interested in using your points this way, here’s a walkthrough I wrote of how to use the Pay Yourself Back tool on Chase’s website.
The original word was that this option was only temporary due to COVID-19 but some speculated it might become a permanent feature of the cards. No news if that’s going to happen, but Chase has extended the offer until at least September 30th.
One thing that people, including myself, missed was that Chase also has slipped a new category into the redemption options. Now you can pay yourself back for donations to select charitable organizations.
According to the Pay Yourself FAQ page, these are the organizations eligible for the offer:
- American Red Cross
- Equal Justice Initiative
- Feeding America
- Habitat for Humanity
- International Medical Corps
- Leadership Conference Education Fund
- NAACP Legal Defense and Educational Fund
- National Urban League
- Thurgood Marshall College Fund
- United Negro College Fund
- United Way
- World Central Kitchen
Chase reminds you to donate directly to the charity’s parent organization using the links provided above to ensure your charitable donation purchase is eligible for Pay Yourself Back. Local chapters may not be eligible.
If you have a bunch of Ultimate Rewards points and have no plans for them, this could be an option to put them to use for a good cause. Many of these charities are stretched super-thin because of the social, economic and health-related crises happening concurrently in America.
#stayhealthy #staysafe #washyourhands #wearamask
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This post first appeared on Your Mileage May Vary