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Earning credit card points for travel is great, but what if you find yourself not traveling for a while and instead want to use your rewards for other purchases? Fortunately, Chase offers a way to redeem Ultimate Rewards points for eligible non-travel purchases with its “Pay Yourself Back” tool, giving you more choices when it comes to getting value for your points.

What is Chase’s ‘Pay Yourself Back’ tool?

First introduced in May 2020, the “Pay Yourself Back” tool allows people who have the Chase Sapphire Reserve® card, the Chase Sapphire Preferred® Card, the Ink Business Preferred® Credit Card or other Ultimate Rewards credit cards to redeem their points for purchases made in select categories. The categories change every now and then, so there’s no one permanent type of eligible purchase. Instead, Chase announces “Pay Yourself Back” categories throughout the year.

small business owners women with shipping boxes looking at tablet

When using this tool, your points are typically worth more than they would be if you just redeemed them for cash back, although some cards are significantly better than others. For instance, Chase Sapphire Reserve and Ink Business Preferred card holders currently get 1.25 cents per point on most “Pay Yourself Back” redemptions, while Chase Sapphire Preferred card holders get a significantly lower 1 cent per point when redeeming via the “Pay Yourself Back” tool. Finally, those with the Ink Business Cash® Credit Card or the Ink Business Unlimited® Credit Card can get 1.1 cents per point with “Pay Yourself Back.”

Current Categories

Gas stations, groceries, cardholder annual fees and charities

Gas stations, groceries and charities

Internet, cable, phone services and shipping

Internet, cable, phone services and shipping

Internet, cable, phone services and shipping

Redemption Value

1.25 cents per point (charities is 1.5 cents per point)

1 cent per point (charities is 1.25 cents per point)

1.25 cents per point

1.1 cents per point

1.1 cents per point


March 31, 2023 (charities through Dec. 31, 2023)

March 31, 2023 (charities through Dec. 31, 2023)

March 31, 2023

March 31, 2023

March 31, 2023

Additionally, those with the Chase Freedom Flex℠ and Chase Freedom Unlimited® can also use the “Pay Yourself Back” tool to make donations to select eligible charities, including the American Red Cross, Habitat for Humanity, the NAACP Legal Defense and Education Fund and several others. This redemption is valid through June 30, 2023, at a rate of 1.25 cents per point

How to use the ‘Pay Yourself Back’ tool

If you have an eligible Chase credit card, once you’ve made an eligible purchase, you can log into your Ultimate Rewards account, either via desktop or Chase’s mobile app, to find the “Pay Yourself Back” tool.

Chase's "Pay Yourself Back" tool is available via either desktop or mobile app.

From there, use the tool to find any eligible transactions made on your card in the previous 90 days, then choose to apply your points for either a portion of the purchase or the entire amount. The points will be deducted from your account and you’ll see a statement credit for the corresponding amount within three business days.

You'll get a statement credit based on which Chase card you have and the number of points you redeem.

Is the ‘Pay Yourself Back’ tool worth it?

Frequent flyer website The Points Guy values Chase Ultimate Rewards points at 2 cents apiece, thanks to the program’s ability to transfer points with either of the Sapphire cards at a 1-to-1 ratio to 14 airline and hotel loyalty programs. Strategically transferring points this way makes it possible to score premium redemptions, such as first class and business class airline tickets, at a fraction of what they normally cost.

However, using transferred points is complicated and can require a great deal of time and research. This is why many Chase card holders prefer to redeem their points through the Chase travel portal — even if it’s at a slightly lesser value.

Now, with the “Pay Yourself Back” tool, with the Chase Sapphire Preferred and Chase Sapphire Reserve cards you are getting an even worse value with your points — by 0.25 cents per point. In fact, with the Chase Sapphire Preferred, you are now getting almost the same rate if you were to just redeem your points for cash back. The only difference, however, is that when redeeming your points through the portal you’re still earning points on your purchase, making the redemption slightly better than selecting straight cash.

The Ink Business Preferred, on the other hand, will give you the exact same value as redeeming your points through the Chase travel portal.

While redeeming your points for travel is typically a better option, if you truly don’t have any travel on the horizon and you’d prefer to cash out, then using the “Pay Yourself Back” tool will help you save money on your purchases in the short term — and at a better rate than redeeming your points for cash.

Learn more and apply for the Chase Sapphire Reserve.
Learn more and apply for the Chase Sapphire Preferred.
Learn more and apply for the Ink Business Preferred.
Learn more and apply for the Ink Business Cash.
Learn more and apply for the Ink Business Unlimited.

Check out which cards CNN Underscored chose as its best Chase credit cards currently available.

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