Chase Sapphire Pay Yourself Back

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Superleaf444
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Chase Sapphire Pay Yourself Back

Post by Superleaf444 »

*delete*
Last edited by Superleaf444 on Thu Aug 27, 2020 9:45 am, edited 1 time in total.
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anon_investor
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Re: Chase Sapphire Pay Yourself Back

Post by anon_investor »

Superleaf444 wrote: Sun Aug 09, 2020 7:48 am Hey everyone,

I literally just heard about this and don't recall seeing it posted on this forum or anywhere else for that matter.

I can't believe I missed this and plenty of you prolly know about it, but did you see that Chase Sapphire cards are having a bonus pay me back feature due to the coronavirus's impact on the travel industry?!

I completely missed on the bonus grocery category for a chunk of the year, but the redemption bonus runs until the end of September.

https://media.chase.com/news/pay-yourse ... te-rewards

I delete almost all emails from Chase just out of habit and I'm guessing it was buried in one at one point. Womp.
Yes this program is awesome. I have been using it since it started in June. The money that would have gone to paying my bill (being covered by UR pts) I am investing in VTSAX in my taxable account.
cheesepep
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Re: Chase Sapphire Pay Yourself Back

Post by cheesepep »

For those not in the know, you can redeem certain purchases (restaurants and others) for credit for 1.25 cents per point if you have the Chase Sapphire Preferred or 1.5 cents per point if you have the Chase Sapphire Reserve. It is nice because you get 3X for travel and restaurants, so if you redeem for those certain purchases (a pretty broad category in of itself), you can get up to 4.5% (1.5*3) back for those purchases. I redeemed some of my points and got $196 credit to my account. Going to keep the remaining points for travel though when I transfer to some of Chase's travel partners.

Also, if you have the Chase Freedom Unlimited with its 5% rotating categories and a CSR, you can get 5*1.5 = 7.5% back. Very nice.
lakpr
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Re: Chase Sapphire Pay Yourself Back

Post by lakpr »

For what it is worth, I found that purchases at Walmart are closed as groceries and you can redeem UR points against the purchase. Essentially a 25% discount, the way I view it, on items like Bluetooth earbuds, clothes, gardening supplies etc. I purchased last week.
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anon_investor
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Re: Chase Sapphire Pay Yourself Back

Post by anon_investor »

cheesepep wrote: Sun Aug 09, 2020 8:00 am For those not in the know, you can redeem certain purchases (restaurants and others) for credit for 1.25 cents per point if you have the Chase Sapphire Preferred or 1.5 cents per point if you have the Chase Sapphire Reserve. It is nice because you get 3X for travel and restaurants, so if you redeem for those certain purchases (a pretty broad category in of itself), you can get up to 4.5% (1.5*3) back for those purchases. I redeemed some of my points and got $196 credit to my account. Going to keep the remaining points for travel though when I transfer to some of Chase's travel partners.

Also, if you have the Chase Freedom Unlimited with its 5% rotating categories and a CSR, you can get 5*1.5 = 7.5% back. Very nice.
The Chase Freedom Unlimited is 1.5% cash back (in UR pts) and the Chase Freedom is the one with revolving 5% cash back categories. I have both along with the Chase Sapphire Preferred.

I hope Chase keeps this program beyond September. No travel for me in 2020... or maybe 2021 even...
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Re: Chase Sapphire Pay Yourself Back

Post by cowdogman »

Yes, I haven't paid $$ for family groceries since May 1--about $4,500 so far--and still have 150,000+ points left. My goal is to get it to zero by September 30.
02nz
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Re: Chase Sapphire Pay Yourself Back

Post by 02nz »

Superleaf444 wrote: Sun Aug 09, 2020 7:48 am Hey everyone,

I literally just heard about this and don't recall seeing it posted on this forum or anywhere else for that matter.

I can't believe I missed this and plenty of you prolly know about it, but did you see that Chase Sapphire cards are having a bonus pay me back feature due to the coronavirus's impact on the travel industry?!

I completely missed on the bonus grocery category for a chunk of the year, but the redemption bonus runs until the end of September.

https://media.chase.com/news/pay-yourse ... te-rewards

I delete almost all emails from Chase just out of habit and I'm guessing it was buried in one at one point. Womp.
There have been quite a few threads, including this one: viewtopic.php?f=2&t=300020&start=300#p5279543
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Superleaf444
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Re: Chase Sapphire Pay Yourself Back

Post by Superleaf444 »

*delete*
Last edited by Superleaf444 on Thu Aug 27, 2020 9:45 am, edited 1 time in total.
NancyABQ
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Re: Chase Sapphire Pay Yourself Back

Post by NancyABQ »

Superleaf444 wrote: Sun Aug 09, 2020 9:58 am
02nz wrote: Sun Aug 09, 2020 9:51 am
Superleaf444 wrote: Sun Aug 09, 2020 7:48 am Hey everyone,

I literally just heard about this and don't recall seeing it posted on this forum or anywhere else for that matter.

I can't believe I missed this and plenty of you prolly know about it, but did you see that Chase Sapphire cards are having a bonus pay me back feature due to the coronavirus's impact on the travel industry?!

I completely missed on the bonus grocery category for a chunk of the year, but the redemption bonus runs until the end of September.

https://media.chase.com/news/pay-yourse ... te-rewards

I delete almost all emails from Chase just out of habit and I'm guessing it was buried in one at one point. Womp.
There have been quite a few threads, including this one: viewtopic.php?f=2&t=300020&start=300#p5279543
:oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops:

How did I miss this!?!??! bah
THIS! Luckily you have 90 days to redeem each purchase, so I haven't actually missed out significantly. Just "paid myself back" about $1600... :)
TravelGeek
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Re: Chase Sapphire Pay Yourself Back

Post by TravelGeek »

Superleaf444 wrote: Sun Aug 09, 2020 7:48 am
I delete almost all emails from Chase just out of habit and I'm guessing it was buried in one at one point. Womp.
Sorry you missed it. It probably isn’t a good idea to delete almost all emails from your banks unopened, so I would suggest changing that habit. :)

I’d also perhaps make it a habit to scan the headlines at Doctor of Credit every day if you are interested in rewards and credit card/banking deals.
lakpr
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Re: Chase Sapphire Pay Yourself Back

Post by lakpr »

TravelGeek wrote: Sun Aug 09, 2020 11:09 am
Superleaf444 wrote: Sun Aug 09, 2020 7:48 am
I delete almost all emails from Chase just out of habit and I'm guessing it was buried in one at one point. Womp.
Sorry you missed it. It probably isn’t a good idea to delete almost all emails from your banks unopened, so I would suggest changing that habit. :)

I’d also perhaps make it a habit to scan the headlines at Doctor of Credit every day if you are interested in rewards and credit card/banking deals.
Every day might be a bit too much, perhaps once a week ... I caught the Pay Yourself Back thread only in second week of June myself, so I can relate to the OP's regret.
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Re: Chase Sapphire Pay Yourself Back

Post by cowdogman »

TravelGeek wrote: Sun Aug 09, 2020 11:09 am
I’d also perhaps make it a habit to scan the headlines at Doctor of Credit every day if you are interested in rewards and credit card/banking deals.
I saw "Pay Yourself Back" in the daily The Points Guy email a few (several?) days before it was even on the Chase website or I received an email from Chase.

I don't play the points game like I used to several years ago, but I still find The Points Guy daily newsletter very helpful in finding points deals.
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Re: Chase Sapphire Pay Yourself Back

Post by TravelGeek »

lakpr wrote: Sun Aug 09, 2020 11:23 am Every day might be a bit too much, perhaps once a week ... I caught the Pay Yourself Back thread only in second week of June myself, so I can relate to the OP's regret.
It’s ultimately the same amount of reading/scanning of headlines whether you do it daily or weekly. Using an RSS reader helps (IMO) make it very efficient.
cowdogman wrote: Sun Aug 09, 2020 12:17 pm
I don't play the points game like I used to several years ago, but I still find The Points Guy daily newsletter very helpful in finding points deals.
I prefer DoC because the authors aren’t constantly trying to push credit cards or other affiliate deals.
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Re: Chase Sapphire Pay Yourself Back

Post by MA405 »

lakpr wrote: Sun Aug 09, 2020 8:10 am For what it is worth, I found that purchases at Walmart are closed as groceries and you can redeem UR points against the purchase. Essentially a 25% discount, the way I view it, on items like Bluetooth earbuds, clothes, gardening supplies etc. I purchased last week.
Could you explain how you arrived to 25% discount number? I am seeing 1.5% discount for a regular purchase charged to CSR, or at the most 7.5% if you used Instacart?
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Re: Chase Sapphire Pay Yourself Back

Post by Mudpuppy »

Superleaf444 wrote: Sun Aug 09, 2020 9:58 am
02nz wrote: Sun Aug 09, 2020 9:51 am There have been quite a few threads, including this one: viewtopic.php?f=2&t=300020&start=300#p5279543
:oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops:

How did I miss this!?!??! bah
There's also this one, talking about it specifically in the context of the CSR card: viewtopic.php?f=11&t=321815
lakpr
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Re: Chase Sapphire Pay Yourself Back

Post by lakpr »

MA405 wrote: Sun Aug 09, 2020 1:41 pm
lakpr wrote: Sun Aug 09, 2020 8:10 am For what it is worth, I found that purchases at Walmart are closed as groceries and you can redeem UR points against the purchase. Essentially a 25% discount, the way I view it, on items like Bluetooth earbuds, clothes, gardening supplies etc. I purchased last week.
Could you explain how you arrived to 25% discount number? I am seeing 1.5% discount for a regular purchase charged to CSR, or at the most 7.5% if you used Instacart?
It's based on "I am not going to travel in the near future" viewpoint. With my office closed and I am working remotely, there aren't even train expenses or parking expenses to redeem the accumulated UR points. If redeemed for cash, the 100k UR points I have are worth only $1000. Instead, I am able to redeem them for groceries and other items that I am going to spend money ANYWAY, with a 25% discount in terms of "cash" equivalent.

Emphasis on "the way I view it" ....
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Re: Chase Sapphire Pay Yourself Back

Post by Mudpuppy »

lakpr wrote: Sun Aug 09, 2020 8:10 am For what it is worth, I found that purchases at Walmart are closed as groceries and you can redeem UR points against the purchase. Essentially a 25% discount, the way I view it, on items like Bluetooth earbuds, clothes, gardening supplies etc. I purchased last week.
If only you had posted this 8 hours earlier, when I submitted a Walmart Grocery curbside pickup order last night. I hadn't even thought about that being a possibility, even though you have to go specifically into Walmart Grocery to place curbside pickup orders. It's not big on my list of places to shop though. I primarily go to Walmart for unscented Febreze, which has a horrible mark-up on Amazon.
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Re: Chase Sapphire Pay Yourself Back

Post by cowdogman »

Superleaf444 wrote: Sun Aug 09, 2020 9:58 am
:oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops:

How did I miss this!?!??! bah
I just posted about a new Chase Amazon Prime Card bonus. Don't miss it!
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anon_investor
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Re: Chase Sapphire Pay Yourself Back

Post by anon_investor »

cowdogman wrote: Tue Aug 11, 2020 10:32 am
Superleaf444 wrote: Sun Aug 09, 2020 9:58 am
:oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops: :oops:

How did I miss this!?!??! bah
I just posted about a new Chase Amazon Prime Card bonus. Don't miss it!
Details please???
lakpr
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Re: Chase Sapphire Pay Yourself Back

Post by lakpr »

anon_investor wrote: Tue Aug 11, 2020 11:15 am Details please???
viewtopic.php?f=2&t=322589

Right now at the top of the forum on Page-1.
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anon_investor
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Re: Chase Sapphire Pay Yourself Back

Post by anon_investor »

lakpr wrote: Tue Aug 11, 2020 11:54 am
anon_investor wrote: Tue Aug 11, 2020 11:15 am Details please???
viewtopic.php?f=2&t=322589

Right now at the top of the forum on Page-1.
Thanks. So sad, getting excited about the potential of getting a couple of % extra cash back...
BlackcatCA
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Re: Chase Sapphire Pay Yourself Back

Post by BlackcatCA »

Has anyone successfully used points for charitable donations? I made a donation to a charity which is on the approved list on the Chase site, but when i go to the Pay Yourself Back page, the donation not listed on the reimbursable list. Payment has been processed so should show on the list. Any ideas how to get this?
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Re: Chase Sapphire Pay Yourself Back

Post by cheesepep »

As I just got this credit card a month ago and have yet to make my first payment (just got back another $50 so total back is $250), I really hope that it gets extended beyond this official September 30, 2020 deadline as I need some time to accrue points. Yes, Chase has said in a blog that it will be extended but no word as to the date or to the point value. And I missed the 5x groceries category that Chase had a while back. I really wish that was extended. My new favorite credit card. A close 2nd is my CapitalOne Venture and my least favorite is my American Express Platinum.
e5116
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Re: Chase Sapphire Pay Yourself Back

Post by e5116 »

This program has been extended to April 30, 2021!

https://onemileatatime.com/chase-extend ... k-feature/

I'm still debating on if it makes sense to cash out as much as I can at 1.5 cents or keeping some points for transfering to travel partners. I've been able to get north of 2 cents in some redemptions (and, no, it's not business/first class flights either).
TravelGeek
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Re: Chase Sapphire Pay Yourself Back

Post by TravelGeek »

e5116 wrote: Mon Sep 28, 2020 9:20 am
I'm still debating on if it makes sense to cash out as much as I can at 1.5 cents or keeping some points for transfering to travel partners. I've been able to get north of 2 cents in some redemptions (and, no, it's not business/first class flights either).
Glad they extended it as is. I expected that it would get extended, but without the 1.5 redemption factor.

I cashed out about 75,000 points so far and still have around 175k left. I, too, get good value from business class awards and redeemed about 230k points for that through transfers to United over the course of the last year alone.

But I also have a ton of AA, AS, and BA miles and Amex MR points to use when travel picks up again, so I think I will keep enough URs for two TATL UA business class rewards and will redeem the rest via PYB.

Hyatt transfers are another option I have used in the past, but I have free credit card nights with nearly every program and lots of points with Hilton, IHG and Radisson to use up.
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Re: Chase Sapphire Pay Yourself Back

Post by rich126 »

TravelGeek wrote: Mon Sep 28, 2020 11:29 am
e5116 wrote: Mon Sep 28, 2020 9:20 am
I'm still debating on if it makes sense to cash out as much as I can at 1.5 cents or keeping some points for transfering to travel partners. I've been able to get north of 2 cents in some redemptions (and, no, it's not business/first class flights either).
Glad they extended it as is. I expected that it would get extended, but without the 1.5 redemption factor.

I cashed out about 75,000 points so far and still have around 175k left. I, too, get good value from business class awards and redeemed about 230k points for that through transfers to United over the course of the last year alone.

But I also have a ton of AA, AS, and BA miles and Amex MR points to use when travel picks up again, so I think I will keep enough URs for two TATL UA business class rewards and will redeem the rest via PYB.

Hyatt transfers are another option I have used in the past, but I have free credit card nights with nearly every program and lots of points with Hilton, IHG and Radisson to use up.
I like my chase points but if I could get money for AA and BA points I would get rid of those quickly.
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Re: Chase Sapphire Pay Yourself Back

Post by MikeG62 »

I've redeemed 102,000 points using the PYB option since it was announced for ~$1,500 in cash back. I still have 250,000 points remaining, which I am inclined to hold onto since I expect there will be a time when we resume travel and I believe I'll be able to harvest them for more than 1.5 cents per point. FWIW, I've had success (on multiple occasions) with transfers to hotel partners (Hyatt primarily, but also Marriott) for ~3.0 cents per point. So I am planning to hold out for that - at least that is my current thinking.
Last edited by MikeG62 on Wed Sep 30, 2020 2:59 pm, edited 2 times in total.
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epicahab
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Re: Chase Sapphire Pay Yourself Back

Post by epicahab »

rich126 wrote: Mon Sep 28, 2020 11:06 pm
I like my chase points but if I could get money for AA and BA points I would get rid of those quickly.
I hear you on that one...when everything started changing in March and April, all the airlines including the Delta SkyMall suddenly shut down the ability to buy gift cards and everything else other the flights. I would have cashed them all in as the redemption values for airline points are pretty bad when buying travel.

Gonna keep my hotel and UR points, though. I value those at 2 cents or more.

Here's The Points Guy's take: https://thepointsguy.com/guide/monthly-valuations/
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Re: Chase Sapphire Pay Yourself Back

Post by e5116 »

MikeG62 wrote: Tue Sep 29, 2020 8:23 am I've redeemed 102,000 points using the PYB option since it was announced for ~$1,500 in cash back. I still have 250,000 points remaining, which I am inclined to hold onto since I expect there will be a time when we resume travel and I believe I'll be able to harvest them for more than 1.5 cents per point. FWIW, I've had success (on multiple occasions) with transfers to hotel partners (Hyatt primarily, but also Marriott) for 3.0 cents per point. So I am planning to hold out for that - at least that is my current thinking.
How in the world have you gotten Marriott redemptions for 3.0 cents/point? Are those very high end places? I typically see them around 0.7 cents.....Hyatt I can see.
epicahab wrote: Tue Sep 29, 2020 9:27 am
rich126 wrote: Mon Sep 28, 2020 11:06 pm
I like my chase points but if I could get money for AA and BA points I would get rid of those quickly.
I hear you on that one...when everything started changing in March and April, all the airlines including the Delta SkyMall suddenly shut down the ability to buy gift cards and everything else other the flights. I would have cashed them all in as the redemption values for airline points are pretty bad when buying travel.

Gonna keep my hotel and UR points, though. I value those at 2 cents or more.

Here's The Points Guy's take: https://thepointsguy.com/guide/monthly-valuations/
The question is is having the cash in hand with ultimately flexibility worth the perhaps slightly reduced redemption. I admit I like to "play the game" to find killer redemptions. I have about 500,000 UR points right now. I think I'm going to cash a lot out at 1.5 cents through next April but still hold on to a good sized chunk and continue to accumluate more although my travel is down precipitously.
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Re: Chase Sapphire Pay Yourself Back

Post by MikeG62 »

e5116 wrote: Wed Sep 30, 2020 11:10 am
MikeG62 wrote: Tue Sep 29, 2020 8:23 am I've redeemed 102,000 points using the PYB option since it was announced for ~$1,500 in cash back. I still have 250,000 points remaining, which I am inclined to hold onto since I expect there will be a time when we resume travel and I believe I'll be able to harvest them for more than 1.5 cents per point. FWIW, I've had success (on multiple occasions) with transfers to hotel partners (Hyatt primarily, but also Marriott) for 3.0 cents per point. So I am planning to hold out for that - at least that is my current thinking.
How in the world have you gotten Marriott redemptions for 3.0 cents/point? Are those very high end places? I typically see them around 0.7 cents.....Hyatt I can see.
It was a one-off at the Marriott in Park City Utah (surprisingly during the heart of ski season in 2019, but booked like 7-9 months in advance). The value obtained was actually 2.74 cents per point. Still way better than the PYB option at 1.5 cents per point. Having said that, I should not have so liberally rounded that up to 3.0 cents (I've edited that earlier post to be a bit more clear).

Hyatt has been my best value on point usage in the past (multiple times). In my experience, attractive deals at Marriott properties have been few and very far in between.
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HopeToGolf
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Re: Chase Sapphire Pay Yourself Back

Post by HopeToGolf »

MikeG62 wrote: Tue Sep 29, 2020 8:23 am I've redeemed 102,000 points using the PYB option since it was announced for ~$1,500 in cash back. I still have 250,000 points remaining, which I am inclined to hold onto since I expect there will be a time when we resume travel and I believe I'll be able to harvest them for more than 1.5 cents per point. FWIW, I've had success (on multiple occasions) with transfers to hotel partners (Hyatt primarily, but also Marriott) for ~3.0 cents per point. So I am planning to hold out for that - at least that is my current thinking.
You folks have me second guessing myself. I had a couple of hundred thousand points and I used them all to PYB at 1.5 cents per point. Given there is no travel for a while, it just seemed to be the best approach. I figured I can work on the actual miles I have with airlines and cash to travel when the time comes.
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Re: Chase Sapphire Pay Yourself Back

Post by MBB_Boy »

e5116 wrote: Wed Sep 30, 2020 11:10 am
MikeG62 wrote: Tue Sep 29, 2020 8:23 am I've redeemed 102,000 points using the PYB option since it was announced for ~$1,500 in cash back. I still have 250,000 points remaining, which I am inclined to hold onto since I expect there will be a time when we resume travel and I believe I'll be able to harvest them for more than 1.5 cents per point. FWIW, I've had success (on multiple occasions) with transfers to hotel partners (Hyatt primarily, but also Marriott) for 3.0 cents per point. So I am planning to hold out for that - at least that is my current thinking.
How in the world have you gotten Marriott redemptions for 3.0 cents/point? Are those very high end places? I typically see them around 0.7 cents.....Hyatt I can see.
epicahab wrote: Tue Sep 29, 2020 9:27 am
rich126 wrote: Mon Sep 28, 2020 11:06 pm
I like my chase points but if I could get money for AA and BA points I would get rid of those quickly.
I hear you on that one...when everything started changing in March and April, all the airlines including the Delta SkyMall suddenly shut down the ability to buy gift cards and everything else other the flights. I would have cashed them all in as the redemption values for airline points are pretty bad when buying travel.

Gonna keep my hotel and UR points, though. I value those at 2 cents or more.

Here's The Points Guy's take: https://thepointsguy.com/guide/monthly-valuations/
The question is is having the cash in hand with ultimately flexibility worth the perhaps slightly reduced redemption. I admit I like to "play the game" to find killer redemptions. I have about 500,000 UR points right now. I think I'm going to cash a lot out at 1.5 cents through next April but still hold on to a good sized chunk and continue to accumluate more although my travel is down precipitously.
High end redemptions are frequently higher value. I thin k my personal best was close to 5.0 at the St.Regis in Kauai. Also did did pretty well at a few properties in Indonesia. Vacations in 5 night multiples really help (5th night free).

But where they get you is whether you would have taken a similar vacation without points. We are young (DW turned 30 this year), and these were a few years back. We definitely spent more than we would have, and used these points to access luxury we wouldn't have paid for on our own. Lots of rationalization occurs
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Re: Chase Sapphire Pay Yourself Back

Post by Da5id »

HopeToGolf wrote: Fri Oct 02, 2020 8:56 pm You folks have me second guessing myself. I had a couple of hundred thousand points and I used them all to PYB at 1.5 cents per point. Given there is no travel for a while, it just seemed to be the best approach. I figured I can work on the actual miles I have with airlines and cash to travel when the time comes.
I used all mine as well. I'm uncertain about my travel plans, and took the bird in the hand. I don't use points for higher end travel where people seem to get the high multiples. I sometimes get 2 cents a point. It is also possible I'll drop CSR, so...
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anon_investor
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Re: Chase Sapphire Pay Yourself Back

Post by anon_investor »

I am pretty happy Chase extended the PYB feature. I had over 470k pts at the start of the pandemic. I have been using the PYB feature as much as possible. Recently had another kid, so literally 0 travel expected through 2021. I also have the Freedom (original) and Freedom Unlimited, so I will still be adding to my UR pt stock pile even while using PYB. Debating whether to apply for a new Freedom Flex to get the sign up bonus.
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epicahab
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Re: Chase Sapphire Pay Yourself Back

Post by epicahab »

So from a business perspective, why is Chase doing this? Are they trying to clear points off the board so that they don't have to be responsible for paying them back in an even tougher economic time? Wouldn't they want the points to stay unredeemed?
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Re: Chase Sapphire Pay Yourself Back

Post by mpsz »

epicahab wrote: Sat Oct 03, 2020 10:14 am So from a business perspective, why is Chase doing this? Are they trying to clear points off the board so that they don't have to be responsible for paying them back in an even tougher economic time? Wouldn't they want the points to stay unredeemed?
It's most likely a combination of this plus wanting people to keep their Sapphire cards active (and paying the annual fee) while not traveling.
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Re: Chase Sapphire Pay Yourself Back

Post by anon_investor »

mpsz wrote: Sat Oct 03, 2020 10:23 am
epicahab wrote: Sat Oct 03, 2020 10:14 am So from a business perspective, why is Chase doing this? Are they trying to clear points off the board so that they don't have to be responsible for paying them back in an even tougher economic time? Wouldn't they want the points to stay unredeemed?
It's most likely a combination of this plus wanting people to keep their Sapphire cards active (and paying the annual fee) while not traveling.
I bet there was a rash of cancelations early on during the pandemic.
BlackcatCA
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Re: Chase Sapphire Pay Yourself Back

Post by BlackcatCA »

I used PYB to clear most of my points, then downgraded to one of the Freedom cards before the renewal charge.
I assume I can apply a CSP/R again when international travel is allowed again. Does anyone know how long is the wait period before I can apply again?
the way
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Re: Chase Sapphire Pay Yourself Back

Post by the way »

btw they have a 20% bonus for transferring points to Southwest right now (until the end of Oct).
ZinCO
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Re: Chase Sapphire Pay Yourself Back

Post by ZinCO »

BlackcatCA wrote: Sat Oct 03, 2020 10:39 am I used PYB to clear most of my points, then downgraded to one of the Freedom cards before the renewal charge.
I assume I can apply a CSP/R again when international travel is allowed again. Does anyone know how long is the wait period before I can apply again?
Four years since the bonus posted.
Mudpuppy
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Re: Chase Sapphire Pay Yourself Back

Post by Mudpuppy »

anon_investor wrote: Sat Oct 03, 2020 10:26 am
mpsz wrote: Sat Oct 03, 2020 10:23 am
epicahab wrote: Sat Oct 03, 2020 10:14 am So from a business perspective, why is Chase doing this? Are they trying to clear points off the board so that they don't have to be responsible for paying them back in an even tougher economic time? Wouldn't they want the points to stay unredeemed?
It's most likely a combination of this plus wanting people to keep their Sapphire cards active (and paying the annual fee) while not traveling.
I bet there was a rash of cancelations early on during the pandemic.
And those people likely cashed out their UR points before cancelling, creating a large short-term obligation on the product line. PYB encourages more of a slow-burn of points, instead of dumping them all to cash at once.
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anon_investor
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Re: Chase Sapphire Pay Yourself Back

Post by anon_investor »

Mudpuppy wrote: Sat Oct 03, 2020 10:31 pm
anon_investor wrote: Sat Oct 03, 2020 10:26 am
mpsz wrote: Sat Oct 03, 2020 10:23 am
epicahab wrote: Sat Oct 03, 2020 10:14 am So from a business perspective, why is Chase doing this? Are they trying to clear points off the board so that they don't have to be responsible for paying them back in an even tougher economic time? Wouldn't they want the points to stay unredeemed?
It's most likely a combination of this plus wanting people to keep their Sapphire cards active (and paying the annual fee) while not traveling.
I bet there was a rash of cancelations early on during the pandemic.
And those people likely cashed out their UR points before cancelling, creating a large short-term obligation on the product line. PYB encourages more of a slow-burn of points, instead of dumping them all to cash at once.
I wonder how many of them cashed out in March then put it 100% into VTSAX? :twisted: :twisted: :twisted:
MikeG62
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Re: Chase Sapphire Pay Yourself Back

Post by MikeG62 »

DW just applied and was approved for Chase Sapphire Preferred card. 80,000 UR points after spending $4,000 in the first 90-days.

Once earned, these UR points will be transferred to (pooled with) my account where I can use them to harvest $1,200 in Pay Yourself cash back (actually $1,260 assuming the entire $4,000 is spent only at 1 point per dollar). Of course, there is a $95 annual fee (not waived) and the lost incremental cash back had the $4,000 been put in my BofA Premium Rewards CC (at 2.625%). However, even after taking those two things into consideration, the net cash back upside is >$1,000. Easy way to pick up $1,000.
Real Knowledge Comes Only From Experience
ZinCO
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Joined: Thu Nov 05, 2015 9:42 pm

Re: Chase Sapphire Pay Yourself Back

Post by ZinCO »

MikeG62 wrote: Mon Oct 05, 2020 8:26 am DW just applied and was approved for Chase Sapphire Preferred card. 80,000 UR points after spending $4,000 in the first 90-days.

Once earned, these UR points will be transferred to (pooled with) my account where I can use them to harvest $1,200 in Pay Yourself cash back (actually $1,260 assuming the entire $4,000 is spent only at 1 point per dollar). Of course, there is a $95 annual fee (not waived) and the lost incremental cash back had the $4,000 been put in my BofA Premium Rewards CC (at 2.625%). However, even after taking those two things into consideration, the net cash back upside is >$1,000. Easy way to pick up $1,000.
That's assuming of course that you have $1200 in PYB-allowed categories in the last 90 days (or near future). I have a large stockpile of UR that I can't use via PYB because I've already zeroed out all my grocery store and dining charges, what are other people using PYB against?
larrydmsn
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Re: Chase Sapphire Pay Yourself Back

Post by larrydmsn »

ZinCO wrote: Mon Oct 05, 2020 9:42 am
MikeG62 wrote: Mon Oct 05, 2020 8:26 am DW just applied and was approved for Chase Sapphire Preferred card. 80,000 UR points after spending $4,000 in the first 90-days.

Once earned, these UR points will be transferred to (pooled with) my account where I can use them to harvest $1,200 in Pay Yourself cash back (actually $1,260 assuming the entire $4,000 is spent only at 1 point per dollar). Of course, there is a $95 annual fee (not waived) and the lost incremental cash back had the $4,000 been put in my BofA Premium Rewards CC (at 2.625%). However, even after taking those two things into consideration, the net cash back upside is >$1,000. Easy way to pick up $1,000.
That's assuming of course that you have $1200 in PYB-allowed categories in the last 90 days (or near future). I have a large stockpile of UR that I can't use via PYB because I've already zeroed out all my grocery store and dining charges, what are other people using PYB against?
Buy more gift cards from a grocery store? You can try a small amount first to be sure the purchase is counted in PYB
ZinCO
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Re: Chase Sapphire Pay Yourself Back

Post by ZinCO »

larrydmsn wrote: Mon Oct 05, 2020 10:23 am
ZinCO wrote: Mon Oct 05, 2020 9:42 am
MikeG62 wrote: Mon Oct 05, 2020 8:26 am DW just applied and was approved for Chase Sapphire Preferred card. 80,000 UR points after spending $4,000 in the first 90-days.

Once earned, these UR points will be transferred to (pooled with) my account where I can use them to harvest $1,200 in Pay Yourself cash back (actually $1,260 assuming the entire $4,000 is spent only at 1 point per dollar). Of course, there is a $95 annual fee (not waived) and the lost incremental cash back had the $4,000 been put in my BofA Premium Rewards CC (at 2.625%). However, even after taking those two things into consideration, the net cash back upside is >$1,000. Easy way to pick up $1,000.
That's assuming of course that you have $1200 in PYB-allowed categories in the last 90 days (or near future). I have a large stockpile of UR that I can't use via PYB because I've already zeroed out all my grocery store and dining charges, what are other people using PYB against?
Buy more gift cards from a grocery store? You can try a small amount first to be sure the purchase is counted in PYB
Yeah, that's how I maximized the grocery category over the summer, but was trying to avoid that now. And store gift cards don't really do me any good as I already have multiple Ink cards to buy cards at 5x from Staples.
MikeG62
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Re: Chase Sapphire Pay Yourself Back

Post by MikeG62 »

ZinCO wrote: Mon Oct 05, 2020 9:42 am
MikeG62 wrote: Mon Oct 05, 2020 8:26 am DW just applied and was approved for Chase Sapphire Preferred card. 80,000 UR points after spending $4,000 in the first 90-days.

Once earned, these UR points will be transferred to (pooled with) my account where I can use them to harvest $1,200 in Pay Yourself cash back (actually $1,260 assuming the entire $4,000 is spent only at 1 point per dollar). Of course, there is a $95 annual fee (not waived) and the lost incremental cash back had the $4,000 been put in my BofA Premium Rewards CC (at 2.625%). However, even after taking those two things into consideration, the net cash back upside is >$1,000. Easy way to pick up $1,000.
That's assuming of course that you have $1200 in PYB-allowed categories in the last 90 days (or near future). I have a large stockpile of UR that I can't use via PYB because I've already zeroed out all my grocery store and dining charges, what are other people using PYB against?
True.

We will easily surpass $1,200 from restaurant charges over the next few months.
Real Knowledge Comes Only From Experience
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