‘Pay Yourself Back’ Feature for Chase Southwest Credit Cards

'Pay Yourself Back' Feature for Chase Southwest Credit Cards

Chase Adds 'Pay Yourself Back' to Southwest Credit Cards

Chase Adds ‘Pay Yourself Back’ to Southwest Credit Cards

Update: This feature has been extended through the second quarter.

“With Pay Yourself Back®, you can turn your recent qualifying transaction that posted to your account within the last 90 days into a statement credit. Currently, purchases at restaurants, including takeout and eligible delivery services, are eligible for you to redeem up to $300 through 6/30/2023”

Redemption values ​​do not change for the second quarter, but the redemption cap has been increased from $200 to $300.

Chase has quietly added a ‘Pay Yourself Back’ feature to Southwest credit cards. This has long been an option for Sapphire, Ink and Freedom cards, but it was recently devalued. On the other hand it was added to the Aeroplan Card.

Chase Southwest cardholders now have the option to redeem Rapid Rewards points for the following transactions:

  • Annual fee: at a value of 1 cent per point
  • Dining purchases: at a value of 0.8 cents per point, until 3/31.23. Max $200.

The annual fee option has no expiration date, which probably means that this will be an ongoing option for Southwest cardholders. Dining is only available through the end of March as a redemption option, and limited to $200. After that we will probably see a new category.

Redemption values ​​are not great for either option. You can always do a little better than 1 cent per point when redeeming for Southwest award fares. But if you really want to use the ‘Pay Yourself Back’ option on your Southwest card, here’s how to find it:

  1. Log in online and go to Chase Southwest card account.
  2. Click ‘More’ and then choose ‘Rewards dashboard’.
  3. In the ‘Earn / Use’ section, choose “Use Rapid Rewards points with Pay Yourself Back’.

excl. tax: FM

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