Difference between revisions of "Template: Pay Yourself Back"

Latest revision as of 13:41, 1 October 2021

Pay Yourself Back

During the Covid pandemic, Chase started allowing cardholders to use their points to offset certain purchases made with their Sapphire Reserve or Sapphire Preferred Cards.

With the Sapphire Reserve, points are worth 1.5 cents each and you can currently offset purchases for restaurants, charity, Airbnb, Away luggage, and your annual fee. For example, if you charge $600 at restaurants, you can use 40,000 points to "erase" those charges from your bill.

This is a better deal than booking travel through Chase's travel portal. We encourage most people to hold onto their Ultimate Rewards points to use for Hyatt hotel stays and possibly frequent flyer tickets, but this new option is a great way to "cash out" your points at solid value.

Pay yourself back options with the Sapphire Preferred are much less useful. You only get 1.25 cents per point (which means you should probably be saving your points or temporarily upgrading to the Sapphire Reserve) and you can't offset dining purchases.

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-During the Covid pandemic, Chase started allowing cardholders to use their points to offset grocery store, restaurant, and home improvement store charges made on their Sapphire cards. With the Sapphire Reserve, points are worth 1.5 cents each. With the Sapphire Preferred, points are worth 1.25 cents. For example, if you charge $600 at grocery stores, you can use 40,000 points to "erase" those charges from your bill.
+During the Covid pandemic, Chase started allowing cardholders to use their points to offset certain purchases made with their Sapphire Reserve or Sapphire Preferred Cards.
+With the Sapphire Reserve, points are worth 1.5 cents each and you can currently offset purchases for restaurants, charity, Airbnb, Away luggage, and your annual fee. For example, if you charge $600 at restaurants, you can use 40,000 points to "erase" those charges from your bill.
 This is a better deal than booking travel through Chase's travel portal. We encourage most people to hold onto their Ultimate Rewards points to use for Hyatt hotel stays and possibly frequent flyer tickets, but this new option is a great way to "cash out" your points at solid value.
+Pay yourself back options with the Sapphire Preferred are much less useful. You only get 1.25 cents per point (which means you should probably be saving your points or temporarily upgrading to the Sapphire Reserve) and you can't offset dining purchases.
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