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Key takeaways

  • Chase Pay Yourself Back lets select cardholders use their points for better redemptions in everyday categories.
  • The feature allows cardholders to get 25 percent to 50 percent more value for their points when redeeming for certain purchases.
  • As a Freedom Unlimited cardholder, you can also maximize this benefit.

Chase Pay Yourself Back is a dynamic rewards redemption option that allows select Chase cardholders to use their points for better redemptions in everyday categories. Over the past few years, Chase has extended their Pay Yourself Back promotion and added new categories several times.

Cardholders with the Chase Freedom Unlimited®, in particular, can currently use Pay Yourself Back to redeem toward eligible charities through March 31, 2024, at a heightened redemption value. Read on to learn more about the program and how you can maximize this benefit as a Freedom Unlimited cardholder.

What is Chase’s Pay Yourself Back feature?

The Chase Pay Yourself Back feature offers another way to redeem your points for more value than you would otherwise. This promotion lets cardholders get 25 percent to 50 percent more value for their points when redeeming for certain purchases.

These purchase categories vary by card and change based on what promotions Chase is running at the time. Previous spending categories for certain Chase cards have included gas station purchases, grocery store purchases and travel purchases — but the most common and consistent category has been charity donations.

While this promotion can be a great way to boost the value of your points in certain scenarios, it’s also a good idea to keep in mind that Chase cards always let you redeem your points for statement credits at a rate of 1 cent per point. Using points for statement credits can also be a lucrative way to use up points you don’t know what else to do with.

Pay Yourself Back redemption rates for Chase Freedom Unlimited cardholders

Pay Yourself Back lets cardholders with the Chase Freedom Unlimited get 25 percent more value for their points when redeeming within eligible categories. So, instead of getting 1 cent per point in value when redeeming rewards, cardholders get 1.25 cents per point in value in eligible categories.

How much can you redeem with Pay Yourself Back?

Let’s look at a spending example with the Freedom Unlimited’s Pay Yourself Back rate of 1.25 cents per point.

If you donated $100 to a charity and wanted to use points to pay for it, you could do that in two ways: you could redeem some of your points as a statement credit to cover the $100 dollars at a 1:1 rate, or you could use the Pay Yourself Back feature at a 1:1.25 rate. If you used a statement credit, you’d need 10,000 points to cover the $100 donation. If you used Pay Yourself Back, you’d need only 8,000 points because you’re redeeming them at a higher rate.

What are the current Pay Yourself Back categories for the Chase Freedom Unlimited?

Currently, Chase Freedom Unlimited card holders get 25 percent more value when redeeming their points for contributions to select charities. This promotion is being offered through March 31, 2024.

Charities that qualify for this superior redemption rate include:

  • American Red Cross
  • Equal Justice Initiative
  • Feeding America
  • Habitat for Humanity
  • International Medical Corps
  • International Rescue Committee
  • Leadership Conference Education Fund
  • NAACP Legal Defense and Education Fund
  • National Urban League
  • Out & Equal Workplace Advocates
  • SAGE
  • Thurgood Marshall College Fund
  • United Negro College Fund
  • United Way
  • World Central Kitchen

How to Pay Yourself Back as a Chase Freedom Unlimited cardholder

Redeeming your rewards through Chase Pay Yourself Back is easy. If you have a rewards credit card that qualifies for this promotion, you can get started by logging in to your online account management page at Chase.com and navigating to the Chase Ultimate Rewards section of your account. From there, take the following steps:

  1. Click on “Earn/Use” in your rewards account and scroll down to where it says “Pay Yourself Back.”
  2. Choose among charges you’ve made with eligible charities within the last 90 days.
  3. Decide on the dollar amount you want to redeem through the promotion.
  4. Confirm the amount you want to redeem through Pay Yourself Back and hit “Complete.”

Keep in mind: You can redeem your rewards for your entire charitable contribution or just part of it. For example, if you donated $200 to the International Medical Corps but don’t have enough points to cover the entire charge, you can still use the feature for part of your purchase.

Other cards eligible for the Chase Pay Yourself Back feature

The Chase Freedom Unlimited isn’t the only card that lets you use the Pay Yourself Back feature. Some other Chase cards that currently allow you to take advantage of this perk include:

Is using Chase’s Pay Yourself Back feature worth it?

If you plan to make charitable contributions to an eligible charity that partners with Chase for this promotion, then using your card to make that donation can be worth it. After all, you can get more value for your rewards when you redeem this way, and you may be able to donate more as a result.

However, keep in mind that the Chase Pay Yourself Back promotion is more generous with certain cards. For example, the Chase Sapphire Reserve is currently offering 1.5 cents per point toward Pay Yourself Back charity redemptions (through March 31, 2024).

If you have multiple Chase cards, it pays to be strategic about which ones you use for the Pay Yourself Back feature.

The bottom line

If you have the Chase Freedom Unlimited and don’t have an immediate need for your points, you can donate to charity then reimburse yourself through the Chase Pay Yourself Back tool. Through March 14, 2024, you’ll get 25 percent more value for your points when you do.

This means that a $100 donation to Habitat for Humanity or the American Red Cross could be wiped from your credit card charges with just 8,000 points. If you want to give back more than you have in the past, this is a great way to do just that.

Issuer-required disclosure statement

*Information about the Chase Freedom Flex℠ and the Aeroplan® Card was collected independently by Bankrate. The card details have not been reviewed or approved by the issuer.

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