Good afternoon everyone, I hope your Friday is going well.  4 months ago, I wrote How to Redeem Chase Ultimate Rewards Points via Pay Yourself Back (1.5 Cents Per Point for Restaurants, Grocery Stores & Home Improvement).  In that post, I showed how to redeem Chase Ultimate Rewards Points for 1.5 cents per point (CPP) on your Chase Sapphire Reserve Credit Card toward qualifying purchases.  Over the last few months, Chase recently added support for other Chase Ultimate Rewards earning credit cards like the Chase Freedom Flex Credit Card and Chase Ink Plus Credit Card.

The Chase Ink Plus is no longer available for new applications, but for existing cardholders, Chase targeted some cardholders with the ability to earn 5x points on qualifying shipping and advertising purchases from August 1 through October 31, up to $10,000 in qualifying purchases.  You can see if you are targeted by navigating to the Featured Benefits section of the Chase Ultimate Rewards Portal.  In today’s post, I will show you how to redeem eligible shipping purchases made on your Chase Ink Plus for 1.25 CPP with the Pay Yourself Back feature.

To get started, sign into you Chase online account, go to the Chase Ultimate Rewards Portal, select your Chase Ink Plus, and then click the Pay Yourself Back link.

As you can see, the Chase Ink Plus is offering 1.25 CPP value when redeemed for cash back to offset qualifying shipping, advertising, and charity purchases.  At the start of this process, I had 42,912 Chase Ultimate Rewards Points (I redeemed a huge stash on my Chase Sapphire Reserve for qualifying restaurant and grocery store purchases).

For this demo, I selected the 3 shipping purchases I made in August.  The Pay Yourself Back feature can be used for purchases made in the last 90 days.  I selected a Pirate Ship purchase (cheapest shipping option for USPS postage), a UPS purchase and a USPS purchase.  I checked the boxes for those 3 purchases and then clicked the Continue button.

On the second screen, you can select how many Chase Ultimate Rewards Points you want to redeem toward each purchase.

To use the maximum number of Chase Ultimate Rewards Points per purchase, check the box that says “Apply Full Amt.”  Then click the Confirm & Submit button.

Congratulations, you just redeemed your Chase Ultimate Rewards Points for 1.25 CPP toward shipping purchases.  The Chase Ultimate Rewards Points will be deducted right away, but the statement credit for each transactions will take up to 3 business days to post to your card.  At the end of this process, I had 39,555 Chase Ultimate Rewards Points.  It is great to be able to earn 5x points on shipping purchases and have the ability to redeem those points at 1.25 CPP toward the same transaction.  It is basically like getting 5 x 1.25 = 6.25% cash back / discount on shipping purchases.  I wish the Chase Ink Plus made these 5x categories a permanent feature of the card.

You will also receive a confirmation email with the details of your Pay Yourself Back order.

It’s only been a few hours since I submitted my Pay Yourself Back order, so the statement credit has not posted yet.  I will update this post in the next 2-3 days as soon as the statement credit posts to my Chase Ink Plus.  The 3 statement credits posted to my Chase Ink Plus account within 24 hours of submitting my order.

If you have any questions about using Chase Ultimate Rewards Points with the Pay Yourself Back feature, please leave a comment below.  Have a great weekend everyone!