Update 3/9/23: The points adjustment is now showing in the Ultimate Rewards summary. It shows up as “Courtesy adjustments: 7333″.
Original Post 12/30/23:
Chase is changing the Pay Yourself Back rate when redeeming against the annual fee from 1.5 cents per point to just 1.25 cents per point. (They seem to be changing over most other PYB redemptions to 1.25% too, as discussed in this post.) The system was showing the 1.5% rate as valid through 12/31/22, yet Chase changed over the rate a couple of weeks ago already to the lower 1.25% rate.
Chase is now saying that they will honor the 1.5 rate through 12/31/22 (that’s tomorrow, Saturday), as confirmed by Dansdeals and as was heard by reader Chris from a Chase rep as well.
This means that you’ll redeem the annual fee today or tomorrow at 1.25% and the system will eventually make you whole and credit you the correct 1.5%. The same thing would be for anyone who has already redeemed against the annual fee at 1.25% over the past couple of weeks; you should eventually be made whole on that.
(Tangentially, in my experience, when product changing to the Sapphire Reserve, the PYB feature becomes instantly available, so if you have lots of Dining or Airbnb purchases on another card and product change to the Sapphire Reserve, you’ll be able to instantly get the 1.5% redemptions. However, the annual fee will not post until the first of the month so it won’t help for that.)