Chase announced today that Chase Sapphire Reserve members will earn 3X on grocery store spending from November 1 through April 30, 2021. However, the benefit is capped at $1,000 per month in eligible grocery spend.
The Chase Sapphire Preferred, meanwhile, will net 2X on grocery store spending. The same date and spending cap parameters apply.
Pay Yourself Back — and Make Points Worth Even More
Where this gets particularly intriguing, though, is Chase’s Pay Yourself Back feature.
Through April 30, 2021, Chase is offering bonus redemption values for Ultimate Rewards points accrued at grocery stores and dining merchants.
For example, a Chase Sapphire Preferred cardholder spending $1000 in groceries on their card during a month of the promotional period would earn 2,000 Ultimate Rewards points. When they use the Pay Yourself Back feature, those points are worth 25% more (or 2,500 points), which converts to a $25 statement credit. (If you haven’t yet taken advantage of the card’s big 80,000 points welcome offer yet, now might be a good time to consider it — especially because we now know it expires on November 8.)
Chase Sapphire Reserve cardholders are the winner in this respect; they can ultimately (no Chase-pun intended) earn 4.5 cents back per dollar spent at grocery stores and restaurants/dining services. That same $1000 would yield a $45 statement credit.
$300 Annual Credit: Now More Than Just Travel
Plus, the Chase Sapphire Reserve‘s annual $300 travel credit covers grocery store and gas station purchases (through June 30, 2021). And according to Chase, grocery store and gas station purchases will earn points on top of the statement credit.
We saw much better grocery store promos from Chase earlier this year. If Chase really wants to go for their competitors’ respective jugulars, they’d make the grocery earnings and Pay Yourself Back benefits permanent.
Still, it’s always nice to see banks throw us a bone and give our cards more value.
A great credit card for points and miles beginners
- Enjoy 60,000 bonus points after spending $4,000 in purchases within three months of being approved! Because Chase Sapphire Preferred card members can redeem points for a 25% bonus when booking travel through Chase, that’s potentially worth $750 in travel.
- Earn 5X points on Lyft through March 2022.
- Earn 2X points per dollar spent at grocery stores from November 1, 2020 – April 30, 2021.
- Earn 2X points per dollar spent on travel and dining purchases.
- Receive unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass (DoorDash’s subscription service).
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.