Oh No! The Chase Pay Yourself Back Redemption Bonus Goes Away

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Now that life is mostly back to the pre-pandemic norm for many households, Chase is reducing the popular Chase Pay Yourself Back redemption bonus. This tool has made it possible to make Chase Ultimate Rewards® redemptions worth up to 50% more on non-travel purchases. Here is a quick look at the latest changes.

The redemption bonus impacts the participating Chase Sapphire and Chase Ink Business credit cards differently.

Chase Sapphire Cards

Starting January 1, 2023, the respective Chase Pay Yourself Back redemption bonus of either 25% or 50% for the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® on non-charity purchases is devalued.

Going forward, the Cash Sapphire Preferred redemption bonus no longer applies to non-travel Pay Yourself Back categories and is 25% for qualifying charity donations.

Related: Chase Sapphire Preferred vs. Chase Sapphire Reserve

Chase Freedom Cards

Eligible charity donations made through the Chase Freedom Flex℠ and Chase Freedom Unlimited® can receive a 25% redemption bonus until June 30, 2023.

No additional categories are eligible for a redemption bonus.

Related: Comparing the Chase Freedom Flex and Freedom Unlimited


The Chase Pay Yourself Back feature isn’t going away yet, but the reduced redemption bonus provides fewer incentives to continue using this tool. As a result, travel redemptions are the most valuable booking in most instances as the remaining redemption values are similar to getting cash back.

Related Articles:

  • Chase Freedom Flex Review
  • The Best Metal Credit Cards
  • Ink Preferred vs. Chase Ink Cash?


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