Update 1/3/23: The lower value is now confirmed
I don’t have the Chase Sapphire Reserve card at the moment, but multiple Reddit reports say that the Chase Sapphire Reserve Pay Yourself Back (PYB) page is now starting to show just 25% bonus on select categories.
- Chase just added Grocery as a new category which to use PYB on the Sapphire Reserve card, but its showing just a 25% bonus value (1.25 cents per point) instead of the prior 50% bonus value (1.5 cents per point). This is already showing as available for prior Grocery purchases, though it’s not yet officially showing in the list of PYB option. This is probably a new category through 3/31/23, if I had to guess.
- They’ve also extended the Annual Fee category through 3/31/23, but again, they lowered it from 50% bonus to 25% bonus.
- The Charity category has been extended through 12/31/23 and has retained its 50% bonus value.
- Airbnb and Dining categories are still available with the 50% bonus through 12/31/22.
- Chase INK Cash and Unlimited cards are showing updated expirations of 3/31/2023 for the same old Shipping, Internet, Cable, Phone, Charity categories, with the same 10% value-add.
While Chase has added the handy Grocery category, it appears they are slated to downgrade the PYB benefit from a 50% value-add to a 25% value-add. I suppose they are leaving in Charity at the 50% value-add as a token gesture to be able to say that there’s a potential 50% bonus on the Sapphire Reserve card.
For me, personally, this entirely changes the value proposition on all Chase cards since I’ve always been banking on there being somewhat usable 1.5 categories and thus mentally pegging the value of Ultimate Rewards at a reliable 1.5 cents value. Assuming this develops as it appears now, I’ll no longer give the same value to Chase signup bonuses or Freedom categories or general spend on the Freedom Unlimited card or Chase shopping portal use, etc, etc.
For now, I’ll try cashing out whatever feasible at the 1.5 cents Dining rate, through 12/31/22.
Note: You can still get 1.5 cents value by booking travel through the Chase portal. And of course a lot of people get even better value when transferring the points to travel partners.
Source: doctorofcredit.com