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Chase expands Pay Yourself Back feature to more cards and new categories

Chase expands Pay Yourself Back program to Ink Business and Freedom credit cards, plus extends timeline for Sapphire card holders. Here's how to maximize rewards.

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Chase consumers with Ultimate Rewards earning cards like the Chase Freedom Flex℠ and the Ink Business Preferred® Credit Card can now benefit from Pay Yourself Back redemptions. This feature allows you to redeem points for statement credits on eligible purchases, including groceries and dining, potentially with 25% to 50% more value depending on the card you have.

Pay Yourself Back originally launched in May for Chase Sapphire Preferred® Card and Chase Sapphire Reserve® Card holders and was expected to end on September 30. However, Chase is extending the availability of this tool throughout the remainder of 2020 and into the new year for select cardholders.

Here are the eligible cards:

CNBC Select has the scoop on how you can maximize rewards with Pay Yourself Back.

Pay Yourself Back with Sapphire, Freedom and select Ink Business cards

While more Chase cardholders can benefit from using Pay Yourself Back, the eligible purchases, added value toward points and end date for the tool vary. Here's what you need to know based on the card you have.

Sapphire Preferred and Sapphire Reserve 

  • When you can use Pay Yourself Back: Now through April 30, 2021 (previously Sept. 30, 2020)
  • Eligible categories: Grocery stores, dining (including restaurants, takeout and eligible delivery services), home improvement stores (such as Home Depot and Lowes) and contributions to a dozen eligible charities.
  • Extra value on Pay Yourself Back redemptions: Points are worth 25% or 50% more for Sapphire Preferred and Reserve, respectively.

Ink Business Preferred and Ink Business Plus 

  • When you can use Pay Yourself Back: October 1 to December 31, 2020
  • Eligible categories: Select online advertising and shipping expenses and contributions to a dozen eligible charities.
  • Extra value on Pay Yourself Back redemptions: Points are worth 25% more.

Freedom Flex, Freedom Unlimited and Freedom

  • When you can use Pay Yourself Back: October 1, 2020 (no current end date)
  • Eligible purchases: Contributions made to a dozen eligible charities.
  • Extra value on Pay Yourself Back redemptions: Points are worth 25% more.

A Chase spokesperson noted that eligible categories and redemption values will evolve over time. In the meantime, you can use Pay Yourself Back to redeem points for eligible purchases made in the past 90 days. Learn how Chase classifies purchases for bonus rewards and check out our step-by-step guide on how to use Pay Yourself Back.

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