Chase Aeroplan: Pay Yourself Back On Travel Purchases (1.25¢ Per Point), Dining & Grocery Added (0.8¢ Per Point)

Update 12/18/24: Interestingly this is now showing 12/31/24 instead of 12/31/25

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