Credit Cards

Chase Adds Generous Redemptions, Perks to the Sapphire Cards

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Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


Chase announced some great, temporary, money-saving statement redemptions and credits yesterday for both the Chase Sapphire Reserve and Chase Sapphire Preferred cards.

It sounds like Chase plans to extend some of the benefits to other cards in the future, too!

Let’s take a quick look.

“Pay Yourself Back”

A standing benefit of the Chase Sapphire Reserve and Chase Sapphire Preferred cards is the option for cardholders to redeem points at 1.5 cents and 1.25 cents each (respectively) for travel booked through the Ultimate Rewards travel site.

But starting May 31 through September 30, 2020, those same, elevated redemptions ratios are extended to statement credits when redeemed toward purchases made in select categories such as:

This is part of Chase’s new “Pay Yourself Back” program.

Earn 4X at US supermarkets with the Amex Gold Card.

For example, 10,000 Ultimate Rewards points accrued across the eligible categories would be worth a $150 statement credit for Chase Sapphire Reserve cardholders and $125 for Chase Sapphire Preferred members.

What about other Chase products?

Chase said they “will introduce other cards that earn Ultimate Rewards points to the Pay Yourself Back feature over time.”

Extended Travel and Annual Fee Statement Credits for CSR Holders

Chase is sure eager to retain Sapphire Reserve cardholders.

The Chase Sapphire Reserve card.
Learn more now about the Chase Sapphire Reserve

From June 1 through December 31, 2020, the card’s annual $300 travel credit extends to purchases made at gas stations and grocery stores.

Plus, the $550 annual is reduced to $450 as follows:

  • Through July 1, Chase is giving a $100 statement credit for renewals
  • The annual fee drops to $450 for renewals falling between July 1 and December 31, 2020

Delta Fans: Don’t Overlook Chase

Many readers of this blog are big American Express fans. (I myself have professed my Amex fanboy tendencies.) But Chase products shouldn’t be dismissed. Remember that Chase Ultimate Rewards points can be used to purchase Delta airfare through the UR travel site. Or, purchase partner trips — such as MQD runs — with URs and reap MQD, MQM, and SkyMiles.

Chase Ultimate Rewards credit cards

Or simply take advantage of statement credit opportunities — which are generally better than Amex’s.

Plus, the Chase Sapphire Reserve‘s Priority Pass Select membership still includes select airport restaurants — unlike the PP perk included with The Platinum Card from American Express and The Business Platinum Card from American Express.

Remember, too, that all Chase Ultimate Rewards card — including the no annual fee products — earn bonus points on Lyft purchases through March 2022.

Final Approach

Money is a concern for many of us right now — and every bit helps. Some people will poo-poo and downplay the redemptions (“1000 points saves me only $15?! Lame!”). But I frequently say, everyone’s budgeting, spending, and redeeming habits vary. Those who wish to take advantage, though, will enjoy the opportunity.

— Chris

 

Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

3 Comments

  1. Thank you Chris. I also believe that ultimate rewards is currently running a promotion if you use points to purchase apple products. I believe it’s a 20% bump.

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