What happened
Chase has implemented a devaluation to the Pay Yourself Back redemption program for Chase Sapphire Reserve cardholders. The bank removed grocery stores and pet stores/vet bills from the 1.25 cents per point redemption tier. Additionally, public transit and gas stations have been added to the program but capped at a lower value of 1.2 cents per point, down from the previous standard 1.25 cents (a 20% bonus rather than 25%). Select charities remain at 50% value and membership fees at 25% value. The new Q3 categories retroactively apply to Q2 purchases