Back at the start of 2023, Chase Aeroplan cardholders received the ability to use the Pay Yourself Back feature for travel expenditure. For anything that coded as an eligible travel expense on the card, you could redeem Aeroplan points for 1.25cpp (cents per point). That meant, for example, that $500 of travel spend could be redeemed for $625 by using 50,000 Aeroplan points.
That benefit was originally scheduled to end on December 31, 2023, then it got extended to December 31, 2024. It’s now been extended again, but with a new limit in place.
The travel category for Pay Yourself Back was previously unlimited, but starting today (January 1, 2025) there’ll be an annual limit of 200,000 Aeroplan points in that category. Chase has stated that “This new limit was designed to accommodate nearly all Cardmembers currently using this benefit.” That sounds about right as it means that you can still earn up to $2,500 each year by utilizing this feature on travel spend, but it does mean that heavy hitters of this benefit will now become lighter hitters.
Aeroplan cardholders can also use Pay Yourself Back towards the annual fee at a rate of 1.25cpp, without that interfering with your travel spending cap. You can also use Pay Yourself Back for dining and grocery spend on an unlimited basis, but with a 0.8cpp redemption rate that’s not worth doing as it represents poor value for your points.
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