Update 10/3/24: Now showing an end date of 12/31/25. Hat tip to Dugroz Reports
Update 7/1/24: Dining & Grocery have been added (0.8¢ Per Point). Valid until 12/31/24
Update 4/1/24: This has been extended until 12/31/24.
Update 1/13/23: Now live, in addition works for all Aeroplan points not just those earned on this card (although apparently it’s only supposed to be points earned on this card and transferred from Chase UR).
Starting January 13, 2023 Chase Aeroplan cardholders will be able to ‘pay yourself back’ using miles towards travel purchases at a rate of 1.25¢ per point. There is no cap on redemptions for this calendar year but for future years there is a cap of 50,000 points. Chase defines travel as:
Merchants in this category include airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages. Some merchants that provide transportation and travel-related services are not included in this category; for example, real estate agents, educational merchants arranging travel, in-flight goods and services, on-board cruise line goods and services, sightseeing activities, excursions, tourist attractions, RV and boat rentals, merchants within hotels and airports, public campgrounds and merchants that rent vehicles for the purpose of hauling. Purchases from gift card merchants or merchants that sell points or miles will not qualify in the travel category.
Interesting to see Chase rolling out pay yourself back on non branded cards. 1.25¢ per point is actually better than I expected. Current offer of 70,000 points is worth $875 towards travel (although there is a $95 annual fee).
Hat tip to harry_hotspur
View Comments (86)
PYB is different. You cant cancel the card until you use up the signup bonus. The bonus resides in both the card and the frequent flyer account.
It's a head scratcher why they would ever offer <1:1 when I can just cash on any PYB categories when I can just "pay myself back" with cash option.
This is the Aeroplan card, not Sapphire, there's no cashout option.
In my Aeroplan card on my Chase app, PYB is now showing as extended through 12/31/2025. No comment on a cap. Same categories, same rate (still 1.25 cpp for travel).
Hat tip -- me :) - https://youtube.com/live/LIPFSTVPTv0?feature=share
Would also love any update on cap here. If you can use all 100k SUB on pay yourself back through '25 that would be intriguing!
If this stays uncapped wouldn't that make the chase Aeroplan the best card in the whole damn game right now?
its the gift that keeps on giving.
With transfer bonus and 10% card bonus, it’s 1.625cpp for all travel - obv you can beat that cpp on international F but that’s an amazing return given total flexibility. We would have gone well over max this year and last if the 50k limit were in place.
You can't transfer points, so you can't get outsized values from your points ever. But otherwise for most folks that don't care for transfer partners, this is the single best card out there.
if they keep it uncapped, that would be amazing
you can pay the annual fee at 1.25 cpp. dont see that mentioned.
im hoping the travel 1.25 redemption is extended past dec.31
as long as i can keep feeding in UR points this seems like a keeper card for me. I can just load it up prior to vacations and dine at my hotel with it using PYB.
i went ahead and got one. Was surprised how high the credit limit was: $35000
The ability to transfer from Chase Ultimate Rewards to Aeroplan with the current 20% bonus means you have an unlimited supply of 1.5 cents/dollar (1.25 cents/point + 20% bonus) on all travel purchases AND you earn the miles for the spend on the Aeroplan card. Add the Chase Aeroplan/Ultimate Rewards 10% bonus (capped at 25k bonus miles/calendar year) and it gets you up to 1.62 cents/point of value. I've "spent" more than a million Chase points this year using this benefit. Pretty tremendous value if you are getting a good cash travel deal to begin with.
I completely agree - though we’re far from using 1M points. Paying for much of Europe trip this way, since hotels for a family are hard there.
It’s also a way to cover hefty BA taxes and fees - probably not what they intended…
@2 I'm showing new PYB categories of Dining and Grocery Stores valid through 12/31/24. I am able to redeem purchases made in June, which is nice since these are 3x Aeroplan categories.
The fact the redemption cap is extended until the end of the year makes it really tempting to cash out a good number of Aeroplan and MR points, especially with the 20% transfer bonus from MR and the 10% bonus for holding the Chase Aeroplan card.
where do you see dining and grocery for PYB? I still show TRAVEL on the terms.
Well...have fun with your ban if you do that. This is a well known reason for Chase bans.
@2 Looks like they have now extended the "unlimited" points redemption allowance until 12/31/24 too. A 50,000 annual redemption cap was due to take effect on 6/30/24.
https://www.chase.com/personal/credit-cards/aeroplan-pay-yourself-back
this is a great deal for miscellaneous tavel expenses like extended parking at hotels and hotel restaurants, both of which i do frequently. I used usbank atitude reserve in the past but thats only $325 towards travel.
Where did you see this extension? When I go on the Chase Aeroplan website it still says it expires June 30,2024.
ive seen it mentioned on other websites, but i havent found it on a chase website.
https://www.chase.com/personal/credit-cards/aeroplan-pay-yourself-back