Chase announced today on the Freedom cards (all variations) a 10% Ultimate Rewards redemption bonus when redeeming Pay Yourself Back against Dining purchases. This bonus will begin July 2nd and end September 30th. There’s a maximum of $250 in redemptions which gets the bonus.
Hopefully you have the Sapphire Reserve card which has categories that earn a 50% bonus or a Sapphire Preferred card which has categories that earn a 25% bonus. If not, this 10% bonus will be useful for those who like cash redemptions.
Starting July 2nd, Chase Freedom, Freedom Flex, Freedom Unlimited, and Freedom Student cardmembers will have the option to apply Ultimate Rewards points to pay for all or a portion of their dining purchases up to a total of $250 and get paid back with statement credit through the Pay Yourself Back tool in the Chase Mobile App and online. Specifically, Ultimate Reward points will be worth 10% more when redeemed for up to $250 in dining purchases through September 30, 2021.
Expecting some sort of this in my Amex gold.
Nice.
This is decent to get some Freedom only cardholders in on the PYB action.
I guess my Amex cards and CSR will just stay home and look pretty >_<
This is great for those trying to back door redeem for travel.
Between the Q3 5x and the ramped up dining, this is shots fired at Amex Gold.
The $250 limit makes this shooting with blanks.
Hmm, wonder if they’ll keep this going post Sept 30th then for the other cards after the pandemic subsides….lets hope so!
CFF/CFU -> Spend $100 at restaurant -> $3 in UR -> $3.30 with 10% PYB
CSP -> Spend $100 at restaurant -> $2 in UR -> $2.50 with 25% PYB
CSR -> Spend $100 at restaurant -> $3 in UR -> $4.50 with 50% PYB
Barring some FTF at a restaurant, this beats what the CSP is getting you, assuming your end goal is cashing out. Please tell me if I calculated this incorrectly.
Thank you! Even without the extra 10%, it’s still better to use the CFF/CFU for dining. I keep seeing people hype PYB on the CSP and I thought my math was off. (Might still be, but at least we’re wrong together lol)
CSP is really only good for the bonus. After that it’s pretty meh. Only useful for getting the points bonus on points earned with Freedom cards.
What you have is correct if only using 1 card. However, you could spend $100 on CFF/CFU, transfer the 300 points to CSP, then spend another $3.75 and redeem on the CSP to get the additional value.
@Kurt, your example is super helpful. Thank you!