If you are like millions of other people, you may be wondering how to chase pay yourself back from credit card debt. Chasing back your credit card debt can seem like a hopeless effort at times but with some smart shopping and commitment to eliminate credit card debt, you can accomplish this goal. To pay yourself back, you need to have control over your finances so that you do not end up in the deep end financially. One of the best ways to take control of your finances is through a process called debt settlement.
Chase Pays You Back, also known as Chase Ultimate Rewards, is a new credit card program offered by Chase that rewards cardholders with a special redemption rate through the pay yourself back program, including car rentals, vacations, and hotels. Rather than earning points or miles for purchases, Ultimate Rewards is earned based on purchase decisions made via the Chase Ultimate Rewards program and credit card statements. The point system is designed to reward consumers for their purchases with the use of Chase Ultimate Rewards and other offers from Chase. As part of the pay yourself back program, each time you make a purchase at any of the participating stores including; Walmart, Target, Best Buy, and Macy's, you will be given 1 point.
This benefit can help you earn 10x points whenever you make dining out or hotel stays through the pay yourself back program. These points can be redeemed online for gift cards, gift certificates, travel tickets, and even money. The more you use the program, the more points you can earn. The better terms and conditions of the Chase pay yourself back program vary by bank, so look for the best terms and conditions for the particular bank you are working with when it comes to the Chase pay yourself back feature.
With the Chase pay yourself back program, consumers have the ability to earn cash-back rewards when making purchases at participating retailers. The cash-back rate offered through the program is 1.25 percent, which means that you would be able to earn fifty percent (1.25 x 100) percent in cash back. Most merchants are happy to offer this cash-back rate, which gives you the ability to earn rewards for making purchases. The more you use the credit card, the more points you can rack up, and the greater your chances in being able to receive cash back rewards when using the card.
In order to redeem rewards that you earn from Chase, you must make your purchases using the debit card associated with the account. You are then eligible to receive a statement credit with the amount of your reward plus the regular interest rate. This is done automatically when you use pay off programs and you will find that statements issued from Chase often come with free plane tickets or a discount on car rentals.
There are also several other ways to receive statement credits as well as discounts on purchases. When you sign up for the program, you will be given an electronic coupon book that you can print at home. Each time you make a purchase, you are required to enter your information so the merchant can give you a statement credit. You can also receive one or more of the rewards associated with the program once you have reached a specific number of statement credits.
With the Chase pay yourself back program, you earn points and you can redeem these points to receive a cash-back bonus. These bonuses are worth a great deal of money, especially if you can turn around and use part of your bonus to pay off some of your debt or purchase a particular item that is worth a return trip to the store. Some of the cash-back bonuses are worth five percent, but you do stand a good chance of attaining even greater points for some items such as home improvement products.
What's more, this is not just a program designed to help consumers control their spending, but it also helps to benefit Chase itself by making its own credit cards and obtaining statement credits. The sapphire preferred card is worth more than one hundred dollars, yet there are no annual fees and there is no charge to speak of. This allows people who would not ordinarily qualify to obtain a card to do so, which means more people may receive statement credits as a result. It can take some time to work your way up to earning enough points and statement credits to make a significant dent in your debt. However, once you get those numbers working in your favor, you'll find that your life will be much happier because you will have more purchasing power.
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