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Heads up, Chase Sapphire Reserve cardholders! The "Pay Yourself Back" (PYB) categories have been updated for Q4 2025 (October, November, December). The big news is that Department Stores are now included at the 1.25 cents per point redemption rate, while Home Improvement has been removed. You can still redeem points at 1.25 cents per point for Grocery Stores (excluding Walmart & Target), Gas Stations, and your annual fee. Select charities remain the most valuable option at 1.5 cents per point.
Why does this matter? "Pay Yourself Back" lets you use your Chase Ultimate Rewards points to essentially "erase" purchases in eligible categories from your statement. This means you can get more value from your points, especially on everyday spending. If you were planning some fall shopping at a department store, now you can redeem points to offset that spending!
Keep in mind that the Chase Sapphire Reserve for Business card only offers PYB for select charities, but at a slightly lower 1.25 cents per point. Also, these changes only affect the Sapphire Reserve.
Why This Matters for Your Strategy
News in the points-and-miles world moves fast, and promotional changes often have a short window. If this announcement affects a card or program you hold, log into your awardtrail dashboard to check your current benefit usage, bonus progress, and whether a transfer or redemption makes sense right now — before terms change.
As a general rule: transfer points only when you have a specific redemption in mind — transfers are almost always one-way and non-reversible. If you're unsure of the value, check our redemption guides before acting.
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October 8, 2026, 9:16 PM
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