The Chase Sapphire Reserve pay-yourself-back (PYB) benefit at 1.25 cents per point on the Gas and Annual Fee categories is being extended through 6/30/23. It’s not clear if the Grocery category will continue beyond the month of March.
Since January, Chase lowered the PYB rate from 1.5 cents down to 1.25 cents on all the useful categories. They also added Grocery as a PYB category, along with the Annual Fee and Gas categories.
Today, Chase sent out a mass promotional email on the Sapphire Reserve card touting various benefits. One of the things mentioned there is the Pay Yourself Back category on Gas and Annual Fee through 6/30/23. Notable is the category extension through June which is good to see. Equally notable is the omission of the Grocery category.
We don’t know if Grocery was simply left off the promotional email or if they’ve decided to end that category for April and beyond.
Hat tip to reader 007
Ultimate Rewards points may be redeemed for a statement credit using Pay Yourself Back for purchases made at select merchants or against the prior payment of your annual fee within the 90 days before the redemption request date. Currently, only redemptions against purchases made with your Chase Sapphire Reserve card with Ultimate Rewards at gas stations or against the prior payment of your annual fee and redeemed through 06/30/2023 will qualify. For information about Chase rewards categories and a list of eligible merchants, please see our FAQs at chase.com/RewardsCategoryFAQs. Categories, eligible merchants, and purchase transaction eligibility may change from time to time without notice. Redemptions require a minimum of 1 point. Each point you redeem for a statement credit towards eligible purchases at gas stations or against the prior payment of your annual fee via Pay Yourself Back is worth $.0125 (one and a quarter cents), which means that 100 points equals $1.25 in redemption value. Chase has the right to change redemption values at any time. Statement credits will post to the card account within 3 business days of a request to redeem and will appear on the monthly Chase credit card billing statement within 1-2 billing cycles. Statement credits will reduce your balance but you are still required to make at least your minimum monthly payment. Chase reserves the right to determine which purchases qualify for a statement credit.”
Source: doctorofcredit.com