Chase Introduces “Pay Yourself Back” for Sapphire Cards

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Last updated on April 5th, 2023

Chase is introducing significant new benefits for Sapphire Cardholders, known as the “Pay Yourself Back” program. The new perks apply to both Sapphire Reserve, and Sapphire Preferred credit cards and offer financial relief for those impacted by the coronavirus (COVID-19) pandemic. Here’s what you need to know about the Chase “Pay Yourself Back” program, what it means for Sapphire cardholders, and how long this bonus lasts.

Pay Yourself Back Program Details

Chase Sapphire cards are known for their excellent value – especially when it comes to the Ultimate Rewards portal. Sapphire Reserve holders get 50% more value on points when booking travel, while Sapphire Preferred holders receive 25% added value over other Chase rewards cards.

Now, Chase is extending these additional redemptions to categories where consumers are hurting most due to the coronavirus outbreak. Through the “Pay Yourself Back” program, cardholders can now also receive statement credits to offset the costs of purchases in three distinct categories:

  • Grocery stores
  • Dining
  • Home improvement stores

Sapphire Reserve cardholders receive 1.5 cents for every point they redeem as a statement credit for the above categories. Sapphire Preferred holders receive 1.25 cents for every point, also in the same categories. Statement credits take up to three days to credit to accounts.

The new program is excellent news for Sapphire cardholders. Given the restrictions on travel and the tight finances of many Americans, the new perks provide exceptional value for money.

Pay Yourself Back Rewards Event Length

The new “Pay Yourself Back” program runs from May 31 through September 30, 2020.

Program Limitations

Chase has restrictions on what purchases fit into the three categories that qualify for the “Pay Yourself Back” program. Chase’s website lists the following restrictions:

  • Grocery Store Purchases: Larger stores that sell groceries (Target, Walmart), like wholesale stores (Costco, BJ’S), discount stores, and drugstores (Walgreens, Rite Aid, CVS) DO NOT QUALIFY. Merchants that sell only a few grocery items also do not qualify.
  • Dining Purchases: Dining purchases include eat-in dining, takeout, and delivery from eligible services such as GrubHub, Uber Eats, and others.
  • Home Improvement Purchases: Home improvement purchases must come from stores that specialize in home improvement supplies. Warehouse clubs, discount stores, and grocery store purchases do not qualify for home improvement purchases.

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About: Cory
Cory Santos

Cory is's "Jack of all trades" and resident credit expert, covering all facets of the credit card space. Cory holds academic degrees in both the U.S. and U.K. In addition to credit cards, Cory finds that jogging, cats, and memes are essential parts of a balanced day.

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