The new Pay Yourself Back feature from Chase Bank has quickly become a mainstay on its popular Chase Sapphire Preferred Card and the Chase Sapphire Reserve, giving cardholders another way to redeem points for everyday expenses. This week, Chase extended that option for cardholders with Ink Business cards – and even gave them a few new ways to use those points.
Chase Ink Business Preferred and Ink Business Plus Cardmembers can currently redeem their Chase Ultimate Rewards points for both shipping and home improvement purchases. That was set to expire today, June 30 – but Chase has extended it through at least Sept. 30.
What's more, they've also added some even better categories to redeem points for 1.25 cents apiece: Cardholders will be able to use the Pay Yourself Back feature on internet, cable, and phone service purchases.Â
Meanwhile, cardholders with the Chase Ink Cash, Chase Ink Business Cash, and Chase Ink Business Unlimited will also be able to use their points to redeem for internet, cable, and phone service purchases – but those points will only be worth 10% more.
Related: Huge New Offers on the Chase Ink Business Cards!
What is Chase Pay Yourself Back?
As travel ground to a halt in 2020, Chase rolled out a new way to use points on both the Chase Sapphire Preferred Card and the Chase Sapphire Reserve, called Chase Pay Yourself Back.
Pay Yourself Back allows cardholders to use their Chase Ultimate Rewards points towards everyday expenses. Through Sept. 30, 2021, you can use points to cover purchases at grocery stores, home improvement stores, and on dining. And although it’s only set to last through September, Chase has indicated that it isn’t going anywhere – potentially becoming a permanent benefit with rotating categories.
Critically, your points are worth the same as if you book flights or hotels through the Chase Ultimate Rewards travel portal: 1.25 cents each if you hold the Sapphire Preferred Card and 1.5 cents each if you hold the Sapphire Reserve.
And later in the year, Chase added the ability to use Pay Yourself back on its suite of business cards with different spending categories which have now been extended through September 30.
Related reading: The Ultimate Guide to Using the Chase Pay Yourself Back Benefit
Bottom Line
If you carry a Chase Ink credit card, the ability to use the Pay Yourself back benefit for select purchases – which was set to expire tomorrow, June 30 – has now been extended through September 30. You've even got some new categories to use these points on, too.
And while the current categories will be available through September 30, Chase has indicated that Pay Yourself Back will become a permanent benefit with rotating categories that change over time.