Sometimes transferring to partners and finding award availability can be a huge pain. I also probably don’t even have to mention the fact that hotel prices these days are high, and hotel award availability can be very challenging.
You have heard us discuss the Chase Sapphire Preferred Card and the extreme value one can get from collecting the Chase Currency Ultimate Rewards Points. But, one benefit that is not discussed as often is the “Pay Yourself Back” feature that sometimes has promotions for specific categories.
Considering that most of the universe has the low-fee Chase Sapphire Preferred Card, this is a great benefit to remember when you have exhausted other potential miles&points hotel booking options.
“Pay Yourself Back” on Airbnb Until December 31, 2022
That’s right, through 12/31/22, you can choose to use your Ultimate Rewards Points to “Pay Yourself Back” with 25% more point value. This would be a value that is equivalent to booking travel via the Chase Travel Portal.
Chase has extended the bonus and the ability to use your Ultimate Rewards Points for Airbnb from the original expiry date of September 30, 2022.
For the Chase Sapphire Preferred, you would get 1.25 cents per point, while the Chase Sapphire Reserve would allow you to pay yourself back at a rate of 1.50 cents per point.
The easy math is that a $1000 Airbnb purchase would cost a Chase Sapphire Preferred Cardholder 80,000 Points and a Reserve Cardholder 66,666 points.
Why Is This A Better Option Than A Hotel Points Redemption?
Setting aside the fact that you would need to find the availability for the exact room category on the exact dates, multiple rooms can be a drag when you are redeeming for a group or family.
Redeeming a room at a hotel or resort is no big deal when you only have one or two people staying in the accommodation, but the moment you have more people, that often means having to redeem multiple rooms.
Airbnb now offers a huge variety of accommodations, including luxe, castles, historical homes, beachfront, and ski-in/out multi-bedroom options. These options solve the multi-room family or group trip.
Boat Rentals and Experiences
How about staying on a boat? While the boat will remain docked, you can often rent one that is moments from the action. One example might be renting a boat close to the action in Miami South Beach. Sure, the yacht stays docked, but it’s a pretty great idea when multiple rooms in South Beach are super expensive. You can also pay an additional fee for a ride with a licensed captain.
Another thing to not overlook are Airbnb Experiences. Even if you do not need to rent an Airbnb, you might be interested in purchasing experiences during your holiday. This is a great way to get a discount on some neat vacay experiences.
How Do I Pay Myself Back?
The beauty and simplicity of Chase “Pay Yourself Back” is that you only have to make the Airbnb purchase using your Chase Sapphire Preferred or Reserve Card. Once the charge settles (posts) to your account, you can choose the “Pay Yourself Back” option on the Chase Ultimate Rewards Page.
The only warning is that you need the charge to post by December 31, 2022. Of course, you could be booking something on Airbnb well into 2023. It might be a good idea to try to complete any transactions a few days prior to the end of 2022 since you would not want a charge to post after December 31st.
Even if your hotel rewards loyalty program “hunt’ has been unsuccessful, there are still a number of great opportunities on Airbnb using your Ultimate Rewards Points.