Redeem Points for Dining Purchases

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  • The Chase Freedom cards have a new Pay Yourself Back redemption option starting July 2, 2021.
  • Cardholders can redeem points with a 10% bonus toward dining purchases through September 30, 2021.
  • You can use Pay Yourself Back to offset up to $250 in dining purchases during the promotion period.
  • Read Insider’s guide to the best rewards credit cards.

If you have any of the Chase Freedom cards — Chase Freedom Flex℠, Chase Freedom Unlimited®, Chase Freedom® Student credit card, or legacy Chase Freedom®
(no longer available to new applicants) — you’ll soon have a new way to use your Ultimate Rewards points.

From July 2 to September 30, 2021, Chase Freedom cardholders can redeem points at a higher rate toward up to $250 in dining purchases through the Pay Yourself Back program. You’ll receive a 10% bonus (or 1.1 cents per point) when you use your points this way.

Normally, Chase Ultimate Rewards points in your Freedom account are worth 1 cent apiece when you redeem them for cash back, travel, and gift cards — so this represents a slight improvement in value. That said, if you’re looking for a way to cash in your Chase points, this is a nice little bonus if you eat out a lot and want to offset some of your restaurant spending this summer.

Read more: Why I don’t regret redeeming Chase points this year to save over $3,500 on my bills, even though I usually keep them for travel

Chase Freedom Pay Yourself Back on dining

Regular APR

14.99% – 23.74%

Credit Score

Good to Excellent

Featured Reward

$200 Bonus after you spend $500 on purchases in your first 3 months from account opening

Intro APR

0% for the first 15 billing cycles

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details

  • Pros
    • No annual fee
    • Generous bonus cash-back categories
    • Great welcome bonus
    Cons
    • Booking through Ultimate Rewards portal can restrict outside earning potential
    • Varying percentages and rotating calendar categories require extra attention
    • 3% foreign transaction fees

    • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
    • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
    • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1% on all other purchases.
    • No annual fee.
    • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%.
    • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.

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    Pay Yourself Back allows certain Chase cardholders to redeem rewards at a higher rate than the 1 cent per point normally offered for cash-back redemptions. The eligible categories and bonus value vary depending on the card, and there’s no activation required to redeem points this way.

    Read more: Chase Pay Yourself Back gives you up to 50% more value when you redeem points for groceries, dining, home improvement, and more — here’s how it works

    Once you’ve made a qualifying purchase — in this case, by using your Freedom card at a restaurant or for takeout or eligible delivery services between July 2 and September 30 — you can log into your Chase account and choose to redeem points to cover all or some of the transaction.

    The Chase Freedom Flex℠ and Chase Freedom Unlimited® already earn 3% cash back (3x Ultimate Rewards points) on dining (including takeout and eligible delivery services), so using these cards for restaurant purchases is a great way to boost your points balances. And you’ll still earn rewards on any purchases you erase with Pay Yourself Back.

    Read more: How to earn, redeem, and maximize Chase Ultimate Rewards points

    Dining isn’t the only eligible Pay Yourself Back category on the Chase Freedom cards. Through December 31, 2021, Freedom cardholders can redeem points at a rate of 1.25 cents apiece toward eligible donations to these participating charities:

    • American Red Cross
    • Equal Justice Initiative
    • Feeding America
    • Habitat for Humanity
    • International Medical Corporation
    • Leadership Conference Education Fund
    • NAACP Legal Defense and Education Fund
    • National Urban League
    • Thurgood Marshall College Fund
    • United Negro College Fund
    • United Way
    • World Central Kitchen

    In addition, Freedom cardholders get the same 1.25 cents per point rate through September 30, 2021, when they use their card to help pay for vaccine rides through the Lyft Fund-a-Ride program.

    Regular APR

    14.99%–23.74% variable APR

    Credit Score

    Good to Excellent

    Featured Reward

    $200 after spending $500 in the first three months from account opening

    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details

  • Pros
    • Solid flat cash-back rate
    • You can combine cash-back rewards with Ultimate Rewards points if you have an eligible card
    • No annual fee
    Cons
    • Some other cards offer a higher rate of cash back on certain types of purchases
    • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
    • Earn unlimited 1.5% cash back on all other purchases.
    • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
    • No annual fee
    • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%.
    • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open

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    Other Chase cards have different Pay Yourself Back categories

    The Chase Freedom cards aren’t the only Chase cards that offer the Pay Yourself Back redemption option, but the eligible categories and bonus value varies depending on the card.

    If you have a Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you also have the option to redeem points at an improved rate through the Chase Ultimate Rewards travel portal — or even transfer points to Chase’s airline and hotel partners.

    Read more: The best Chase credit cards in 2021

    Pairing a Freedom card with one of these cards is a terrific way to squeeze even more value from your points because of the additional redemption options available — and it’s easy to combine your Chase points between accounts.

    Read more: The best way to use Chase points is usually to transfer them to airlines, but there are 2 scenarios where you’re better off redeeming directly with Chase

    There’s no right or wrong way to redeem your Chase points, but if you have travel plans coming up, you may be better off hanging on to your rewards for an airline or hotel redemption instead of cashing them in through Pay Yourself Back.

    Regular APR

    15.99%-22.99% Variable

    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details

  • Pros
    • High sign-up bonus starts you off with lots of points
    • Strong travel coverage
    Cons
    • Doesn’t offer a Global Entry/TSA PreCheck application fee credit
    • Best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,250 when you redeem through Chase Ultimate Rewards®.
    • Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
    • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.
    • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
    • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
    • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
    • Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.

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    Jasmin Baron is an associate editor at Personal Finance Insider, where she helps readers maximize rewards and find the best credit cards to fit their lifestyles. She has covered credit cards, points and miles, and loyalty programs for over seven years, and she’s a Certified Educator in Personal Finance (CEPF).

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    Featured Reward

    100,000 points

    Credit Needed

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    Featured Reward

    100,000 Bonus Points after spending $3,000 on purchases in your first 3 months from account opening

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    $200 after spending $500 in the first three months from account opening

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