Chase Pay Yourself Back Categories
We had been waiting to see how the Chase Pay Yourself Back categories would shake out for the 2nd quarter of 2023 after seeing some of the Sapphire Reserve categories update a few weeks ago. Well, the other shoe has finally dropped on that info. We now know all of the current Pay Yourself Back options for each of the Chase cards that have the feature. Let's dive in.
Chase Pay Yourself Back Categories For Each Card
Let's break it down by card from best options to worst options for Ultimate Rewards earning cards.
Chase Ink Preferred or Ink Plus
You can redeem Ultimate Rewards points in the following categories at 1.25 cents each
- Internet
- Cable
- Cell service
- Shipping
Chase Sapphire Reserve
You can redeem Ultimate Rewards points in the following categories at 1.25 cents each
- Grocery stores
- Gas stations
- Annual Fee
- Select charities (1.5 cents per point)
Chase Ink Cash
You can redeem Ultimate Rewards points in the following categories at 1.1 cents each
- Internet
- Cable
- Cell service
- Shipping
- Select charities (1.25 cents per point)
Chase Ink Unlimited
You can redeem Ultimate Rewards points in the following categories at 1.1 cents each
- Internet
- Cable
- Cell service
- Shipping
- Select charities (1.25 cents per point)
Chase Sapphire Preferred
You can redeem Ultimate Rewards points at 1.25 cents for select charities.
Chase Freedom Cards
You can redeem Ultimate Rewards points at 1.25 cents for select charities.
What Are The Select Charities?
Here is a list of the select charities from the Chase Pay Yourself Back page:
Includes: American Red Cross, Equal Justice Initiative, Feeding America, GLSEN, Habitat for Humanity, International Medical Corps*, International Rescue Committee*, Leadership Conference Education Fund, NAACP Legal Defense and Education Fund, National Urban League, Out & Equal Workplace Advocates, SAGE, Thurgood Marshall College Fund, United Negro College Fund, UNICEF USA*, United Way, and World Central Kitchen*. (*Includes support for relief efforts in Ukraine.) Please donate directly to the charity’s parent organization. Local chapters may not be eligible for Pay Yourself Back.
Thoughts On These Options
I ranked the Ink Preferred and Ink Plus (the real champion) as the best since you earn bonus points in the areas that you can redeem the Ultimate Rewards in. The Sapphire Reserve options will all be done at 1x earning, even if they may be easier to rack up spend in. The difference in annual fees between the cards make it the clear winner as well.
Non Ultimate Rewards Earning Cards
The Pay Yourself Back options don't end with the Ultimate Rewards earning cards. There are a few options among the co-branded airline cards. I have said that I think the Chase Aeroplan card is the best overall, since all points transferred in count (even from other banks), and that the Southwest Airlines option shouldn't be touched with a 10 foot pole. The only other option, which I don't think we have discussed before, is on the United cards.
Chase Aeroplan
You can redeem any points in your Aeroplan account at 1.25 cents per point towards anything that codes as travel. This will be capped at 50,000 points per year starting in 2024.
Southwest Credit Cards
You can redeem Rapids Rewards points at 1 cent per point towards the annual fee or dining for $0.80 cents per point. There is a $200 redemption cap for the dining option. This should be AVOIDED at all costs.
Chase United
You can redeem United Miles at 1.5 cents per miles towards your annual fee. This is actually a pretty decent option if you get value from the card long term.
Chase Pay Yourself Back Categories: ToP Thoughts
Those are the Chase Pay Yourself Back categories for the second quarter of 2023. I believe that they remained unchanged from the options in the first quarter. I still think the Chase Aeroplan card is the most attractive option since you don't need to use Ultimate Rewards points to take advantage of it.
Happy redeeming!
