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Pay Yourself Back is now a permanent feature of the Ultimate Rewards program, but the categories will change periodically.
The $95/year Ink Business Preferred® Credit Card Card and the $95/year discontinued Ink Plus Card Pay Yourself Back categories, at a rate of 1.25 cents per point, now include the following through at least 12/31:
- Shipping
- Internet
- Cable and phone services
- Charitable donations to select charities
- Advertising purchases made with social media sites and search engines
Home improvement is no longer a Pay Yourself Back category for Ink cards.
No fee Ink cards like Ink Cash and Ink Unlimited can use Pay Yourself Back for internet, cable, and phone services at a rate of 1.1 cents each through at least 12/31. They can also make charitable donations to select charities at a rate of 1.25 cents per point.
A great feature of the Pay Yourself Back program is that you keep the original points that the purchase earned, even though you paid yourself back for the purchase.
In other words, if you spend $300 on phone services on Ink Plus, you can use 24,000 points to offset that purchase and make it free. Plus, you’ll still earn the 1,500 points for phone services, so you effectively used 22,500 points to offset the purchase. That means your points were actually worth 1.33 cents each!
It’s worth noting that with Sapphire Reserve Pay Yourself Back, your points can be worth up to 1.57 cents each.
Do you take advantage of Pay Yourself Back?
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2 Comments On "Chase Adds More “Pay Yourself Back” Categories To Ink Business Cards, Removes Home Improvement Category"
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I’m sad they dropped home improvement. Had I realized earlier that it was imminent, I would have purchased more GC at the stores earlier. But all the chagim kind of interfered at the last minute. Have to give a few days for the purchase to appear in the pay yourself back list, and it was shemini azeret/simchat torah. Oh well.
Oy vey