Chase has added the “Pay Yourself Back” feature for Southwest cardholders. Now Southwest Rapid Rewards credit cards join Sapphire, Ink, Freedom cards, and most recently, Aeroplan with this benefit.
Update 4/13/23: From now until June 30th, 2023, you can take advantage of a statement credit offer of up to $300 for eligible dining expenses, which includes restaurant purchases, takeout orders, and eligible delivery services.
Offer Details
Chase has recently added a new feature called ‘Pay Yourself Back’ to its Southwest credit cards. While this feature has been available on other Chase credit cards such as Sapphire, Ink and Freedom for some time, it hasn’t been available to Southwest cardholders until now.
Chase Southwest cardholders can now redeem their Rapid Rewards points for two transactions: the annual fee, which has a value of 1 cent per point and has no expiration date, and dining purchases, which have a value of 0.8 cents per point and are available until March 31, 2023 June 30, 2023, with a maximum limit of $200 $300.
While the redemption values are not particularly great for either option, as Southwest award fares can typically offer better value, this new feature could still be useful for some cardholders. Those interested in using the ‘Pay Yourself Back’ feature on their Southwest card can follow these steps:
- Log in to your Chase Southwest card account online.
- Click on ‘More’ and then select ‘Rewards dashboard’.
- In the ‘Earn/Use’ section, choose “Use Rapid Rewards points with Pay Yourself Back”.
It’s worth noting that the dining redemption option is only available for a limited time, and it’s possible that a new category could be introduced after March 31, 2023 June 30, 2023. However, the annual fee redemption option is likely to be an ongoing benefit for Southwest cardholders.
Bottom Line
Overall, while this new feature may not be a game-changer for everyone, it does provide another option for cardholders looking to redeem their rewards points.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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