On the heels of adding the Pay Yourself Back cashout feature to the Aeroplan card, Chase has now added the feature to Southwest credit cards as well. Pay yourself back at the following rates:
- 1 cent per point toward cover the annual fee.
- .8 cents per points to cover dining. This option is limited to $200 in statement credits. For now it shows an end-date of 3/31/23.
Most people will get more value from their Southwest points when redeeming for flights, but I still love when they make a cashout option for someone who has too many miles or whose travel situation changes.
There’s a similar feature on the Chase United cards whereby you can pay yourself back for the annual fee using your United miles at 1.5 cents per point.
Hat tip to reader Jon and to FM
Chuck
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