Update (12.01.2020)
Pay yourself back has been extended until April 30, 2021.
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I have a lot of Chase UR points saved up,
- I can't even switch to Korean Air,
- I can't travel, so I can't convert to hotel points,
- But with 1 point = 1 cent, it's a bit of a waste to cash out, right?
For those people, Chase introduced a new way to redeem points late last month.
Pay Yourself Back, whereby Sari cardholders will receive 1 point = 1.5 cents and Sharp cardholders will receive 1 point = 1.25 cents back for every dollar spent on certain items through the end of September.is.
In today's post, we're going to explain this in more detail.
1. Pay Yourself Back
The concept behind Pay Yourself Back is simple.
The idea is that you use your card first at a store for a specific item, and then redeem points to pay back the amount you spent.
If so, that particular item would be the most important. We may expand it in the future, but for now, we're sticking with the
- Grocery (grocery stores)
- dining, including restaurants, takeout, and eligible delivery services
- And home improvement stores like Lowe's and Home Depot
We say this is true for three things
Chase has always advertised travel benefits as a major perk, but now that travel is no longer an option, it seems like they've come up with something.
2. How to use
To redeem points through Pay Yourself Back, you must first make a purchase using your Sarina Sharp card at these participating merchants.
Then you'll need to log in to the Chase site, redeem your points, and pay like cash.
The method is simple.
1) First, create a Pay Yourself Back pageIf you're not already logged in to the Chase site, you'll be prompted to log in.
2) After that, if you have multiple UR earning cards, you will need to select the Sharp or Sari card.
3) In my case, I have a Sari card, and when I pressed it, it said that the amount of $8.18 spent at Lowe's can be settled by deducting 545 UR points.
4) The fun part is that you can decide how much you want to deduct - you can deduct the entirety of $8.18 with points, or you can deduct only a portion of your spend with points.
3. 1.5 cents is best?
As we explained back in March When cashing out Chase UR points, you basically have a ratio of 1 point = 1 cent.
Existing options for cashing out at or above this percentage include Using the UR site, Chase's travel product booking siteIn this case, you can book airline tickets or hotel reservations at a rate of 1.5 cents for the Sari card and 1.25 cents for the Sharp card, so we're showing the same cashout rate as the new option.
It is of course possible to extract more than this point value.
I can transfer them to United and other airlines and get 3-4 cents per point, if not more, for business or higher level tickets.
If you turn it over to Hyatt and redeem it for something like the Park Hyatt Vendôme in Paris, you can squeeze out more than 3 cents of value per point.
However, these options are a bit of a crapshoot for a while because you don't know when you'll be able to travel again.
So I think this is a good option for those of you who feel like you should take advantage of the opportunity to earn interest-free points while you can.
4. opportunities to earn additional UR points
If your Chase card spending has increased since the pandemic Nearly 401 TP3T year-over-year decreasehad some news.
To help combat this, the card will be available at grocery stores in May and June,
- Sari Card earns 5 points per $1 spent (up to $1,500 in spending per month)
- The Sharp Card earns 3 points per dollar spent (up to $1,500 in spending per month).
The Amex Gold card used to be the best deal with 4 points per dollar spent on groceries, but I think you should stick with the Sapphire or Sharp card for at least the rest of June.
There was a related discussion on the message board, Contributed by turtlesays that if you buy a $1,000 H-mart gift card with your Sari card, you can get the value of the $1,000 gift card out of your existing UR points, which is roughly 60,000 points.
Let's wrap up today's post.
Given the current state of the coronavirus, traveling is probably not going to happen until next summer.
For those of you who are tired of having a growing points balance that you have no immediate use for, this is a great opportunity to get more value out of your 1 point = 1 cent.
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29 Comments. Leave new
Overseas restaurants, online food/ingredients, delivery apps (Instacart, Postmate), and more. You can also buy kikas from VONS, SAFEWAY, etc.
Great, thanks for the info.
That's great to know there's a gift card option! Thank you!
I just signed up for a Sharp card last month and they immediately took $95 out of my account for the first year.
That's right, we've fixed it right away, thanks for the confirmation.
hello. I received the Saf signup bonus in the second half of 2015 and the Sari signup bonus in the second half of 2016, both cards are now closed. Can I apply for the Sari or Saf now and get the signup bonus? Thanks for the great information as always.
No. You have 48 months from the time you receive the sign-up bonus, whichever is later, to open the card and earn the sign-up bonus. You must open it before the end of the year.
Okay, thank you!
I keep getting an error after I submit at the end of Pay Yourself Back, is anyone else like me?
I did that for 2 days, and today it worked!
I only succeeded once last month and have been trying almost every day for 2 weeks now and still get the error
Sharp, which used to be my #1 must-have card during the Danfoss transition, has fallen by the wayside.
I'm not going to be able to use the points for a while, so I'm going to scratch around and see if I can find a restaurant.
Go out with the family, get a bite to eat...
Sari & Pay Yourself Back also has a little trick up its sleeve.
From June 1 through December 31, you can get a $300 travel credit to spend at grocery stores and gas stations, and you're supposed to earn points on those purchases, but a known trick is that you can stack the $300 credit with Pay Yourself Back.
This means that if you still have the $300 credit, you can buy $300 worth of groceries (or a gift certificate to a grocery store), redeem the $300 credit, and then Pay yourself back "again" for 20,000 points for the $300 of groceries. You'll also get an additional 1500 points, meaning you'll spend a total of 18500 points to "cash out" the $300 credit.
I don't have a sari, so I don't know exactly what it's like, but if this works, it'll be fine for those who need cash.
Ahhh, I love your hair, everyone.
I'm not sure if I'm not understanding this well enough....
If you buy a Grasserie gift certificate with $300 in travel credit, Steadman will charge you $300 in travel credit,
And you're saying that you're going to pay yourself back with that purchase history...
Wouldn't that be a double pay???
Is this really possible?
This is a really nice option to use UR when traveling is difficult.
Kikasa discount at Grocery (x5 UR points, until end of June) based on CSR card,
-Visa gift card ($500+$5.95 fee)
[$505.95/1.5=337.30 (33.730K)] -[x5 earning UR point (2.530K)]=31.200K (total UR point cost)
Register your Kika and pay for electricity, phone, and other bills in advance
-Amazon or eBay Kika ($500)
[$500/1.5=$333.33 (33.333 K)] -[x5 earning UR point (2.5K)]=30.833K (total UR point cost)
I love the 5x grocery earnings feature, thanks for the example.
hello,
Do the points on the Sari Card ever expire, how many can I keep, and what happens if I cancel the Sari Card?
Will my UR points live on for a while after I cancel?
They don't expire while you have the Sari card, but it's my understanding that if you cancel the card, the points are forfeited immediately.
You can transfer your Chase UR points to any other UR points-earning card account you own, so if you're canceling the Sari card because of the annual fee, you may want to consider downgrading to a card with a lower or no annual fee.
Thanks to you, I bought a $2000 refrigerator and got half of it credited as points. Now UR = 0
Milemoa asked a question.
I have about 70,000 miles on it, and I have a $15,000 spend at the grocery store this month alone.
Is there a monthly limit or something?
As far as I know, there's no specific limit on how much you can spend as long as it's within the card limit. If it's over your card limit, you can ask your card company to temporarily increase your limit.
Has anyone checked to see if costco gift card purchases also qualify for grocery pay yourself back?
Costco is credited at 1% (based on sari). costco is a warehouse, so it doesn't go into the grocery category.
The text says until September, is this still possible?
It's been extended until the end of April next year.
Is it okay to transfer urpoints from unlimited freedom to sharpcard and use it? It's been a month since I got the sharpcard, so it won't affect my 80,000 offer that I need to fill 4000 dollars?
Yes. I'm fine with you moving it, but what impact are you referring to when you say it will impact the Sharp card?