NEW YORK—JPMorgan Chase said it is adjusting to how consumer spending is changing during the pandemic with a new feature.
Chase Sapphire cardholders will be able to use their rewards points to cover purchases like groceries and takeout food thanks to a temporary new feature.
Called “Pay Yourself Back” the new system will allow cardholders to use their rewards points to cover a portion or all of existing purchases at grocery stores, home improvement stores and dining, including restaurants, takeout and eligible delivery services, reported MarketWatch.
The new points program went into effect May 31 for the Chase Sapphire Preferred and Reserve cards, and the bank plans to extend the feature to other cards in the future. The new system is currently set to be available through September 30, MarketWatch said.