5 things you can do with the Chase Sapphire Preferred® card

So you’ve got Chase Sapphire Preferred®, one of the best travel cards. Well done!

The envelope with your sleek metal card was also full of documents and pamphlets—your guide to benefits, terms and conditions, and the like.

This is useful stuff, but wouldn’t it be easier if someone combined all this information into “do these five things to maximize your scores?”

Speaking as a credit card professional and Sapphire Preferred card holder, here are five things you should be doing with your shiny new Chase Sapphire Preferred® card right now.

1. Set it as the default payment method in many places.

Have you ever had a moment where you accidentally used the wrong card, wasting 3x points or cashback for nothing?

For a split second, you think about asking the merchant to cancel the transaction so you can use the “correct” card, but stop yourself because you realize you shouldn’t burden others with your first world problems.

Well, let’s avoid all that awkwardness – and make sure you get your nice, sweet points – by setting your shiny new Chase Sapphire Preferred® card as your default payment method in a few key places, like:

Car rental

If you have an account with Hertz, Enterprise, or any other major car rental network, be sure to set the Chase Sapphire Preferred® card as your default payment method. For two reasons:

• You will get 2 times more points.
• You’ll get free collision damage relief through Chase, which covers theft and damage to your rental and can save you about $20 a day compared to getting it from a car rental company.

Unfortunately, none of the bonuses apply to cars rented through Turo.

Airlines and hotels

Similarly, you can set Chase Sapphire Preferred® as your default payment method on websites such as Delta.com, Southwest.com, Marriott.com, and more.

Again, for two very important reasons:

• You will earn 2x the points (assuming you book directly with the airline or hotel).
• You will receive many free insurances automatically applied to your trip, including:
  • Travel cancellation/cancellation insurance.
  • Travel delay compensation.
  • Travel accident insurance.
  • Lost baggage reimbursement.
  • Baggage delay insurance.
  • Travel and emergency assistance.

This travel insurance is like a fire extinguisher – when you need it, you’ll be very glad you have it.

Read more: Chase Sapphire Preferred® Card Review: The Game-Changing Travel Credit Card

Applications for restaurants and restaurants

If you’re like me, you have apps for every major restaurant chain in your area. Chili’s, Popeyes, the whole gamut of high-calorie temptations.

It’s going to be tedious now, but changing the default payment method in every restaurant app to the new Chase Sapphire Preferred® will save you 3x on everything as long as you have the card. As a foodie, let me tell you – those 3x points add up quickly.

Streaming Services

Your Chase Sapphire Preferred® will earn you 3x more points on your next subscriptions (the list changes frequently, so keep an eye on the latest list here).

• Apple Music.
• Apple TV.
• Disney+.
• ESPN+.
• Fubo TV.
• HBO Max.
• Hulu.
• Netflix.
• Pandora.
• Paramount+.
• Peacock.
• Show time.
• SiriusXM.
• Sling.
• Spotify.
• Youtube Premium.
• Youtube TV.
• Voodoo.

And given that Gen Z spends an average of $377 per month on streaming services, a 3x increase per year is $135.72, or $169.65 for travel. This is a free flight only for changing the default payment method.

Online delivery of groceries and food packages

If you enjoy ordering online, your Chase Sapphire Preferred® will earn you 3x more points on those purchases, so change your default payment method accordingly.

Unfortunately, Target, Walmart, and Costco/BJ don’t fit, but they often show up at Chase Freedom Flex.^CM5x rotating reward categories, so stay tuned if you have any.

Now, what’s interesting is that the 3x online grocery category also includes delivery of grocery kits, but doesn’t specify which ones. So I called and they said hellofresh, blue apronand RealEats must qualify.

Read more: Meal Kit Delivery Comparison: The Best Meal Kits Right Now

peloton

Finally, your Chase Sapphire Preferred® comes with a $60 Peloton Subscription Refund and 5x Hardware Purchase Refunds through June 2022.

I don’t think any incentive should sway you into buying a $1,200 stationary bike with a $39 monthly subscription, but if you already have a Peloton and like it, save yourself $60 by swapping the payment for your CSP.

2. Add authorized user

You can then add an authorized user to your Chase Sapphire Preferred® account.

Someone you travel with frequently, such as a spouse or partner, would be a great choice. If they book a trip with your CSP, you will earn points while they build up their credit score.

Keep in mind, however, that you are solely responsible for all charges they charge the card.

Read more: Authorized Cardholders: Pros and Cons

3. Browse and experiment with Chase Ultimate Rewards® Travel

What could be better than 2x when traveling?

How about 5x?

That’s why all new Chase Sapphire Preferred® cardholders should check out the Chase Ultimate Rewards® travel portal, which is similar to Chase’s own Kayak.com.

There are two ways to subsidize your bookings through Chase Ultimate Rewards®:

• Pay with Chase Ultimate Rewards® to get a 1.25x multiplier (so your $80,000 signup bonus is worth $1,000 in travel).
• Or book using Chase Sapphire Preferred® and get 5x more points.

So while we updated your Delta.com payment method earlier to ensure you get at least a 2x increase in bookings, you will definitely want to try finding a flight through Chase Ultimate Rewards® first to get 5x increase.

Read more: How to fly free (and faster) with Chase Ultimate Rewards®

four. Set a (reasonable) spending plan to get an $800 bonus.

If you’re like me, a big motivation for getting Chase Sapphire Preferred® was the amazing $800 cash sign up bonus of 80k points.

This is simply unheard of for a card that only costs $95 a year. By comparison, American Express’s Platinum Card has “only” a $750 signup bonus with a $695 annual fee.

Read more: Should I buy Amex cards?

Either way, let’s talk about how to spend $4,000 responsibly over the next 90 days.

• How much of your monthly budget can you spend on Chase Sapphire Preferred® over the next three months? If you’re not yet tracking your monthly expenses, go to the most recent account statement for your existing primary card. How much of these costs can you charge your CSP, at least temporarily, to activate the bonus?
• If you don’t have $1,333 of monthly expenses to transfer to your CSP, ask yourself: how much money will I miss? What planned annual or one-time expenses can I put on the card?

Here are some expenses that can help you “cross the line” so to speak:

If all else fails and you’re missing $128 for the $4,000 spent on Day 85, consider stocking up on non-perishables through online grocery shopping.

Now it is important to remember not to overspend just to activate the bonus. Chase Sapphire Preferred® has 16.74% – 23.74% Variable An APR that fires the second you miss a payment, so you need to tread carefully.

That being said, if you were hoping to fund a large purchase to get a bonus, one option is to use the My Chase Plan, which allows you to break down card purchases of $100 or more into fixed monthly payments at a rate of 0% per annum.

5. Set a calendar reminder for next year before the annual fee reaches

After receiving Chase Sapphire Preferred®, you should consider setting a calendar reminder just before the $95 annual fee is credited to your account.

Thus, after 51 weeks, you will be able to analyze your account statements and points balance (minus the signup bonus) and determine whether it is worth keeping the card for another year.

Since you might consider switching to another card with another signup bonus.

But before canceling/switching, remember that:

• Canceling the card will void your points, so you need to cash them out first.
• Cancellation of a line of credit can hurt your credit score, but converting your Chase Sapphire Preferred® card to another Chase card can help prevent this.
• Applying for a new card (no conversion) will always involve a hard withdrawal of your credit – and due to the infamous Chase 5/24 rule, you cannot apply for a new Chase card if you’ve already applied for five cards within 24 .months.

bottom line

The Chase Sapphire Preferred® card can be of great benefit if used correctly.

By completing your CSP as a default payment with eligible merchants, checking out the Chase Ultimate Rewards® Travel Portal, and setting up a secure spending plan to receive your $800 Sign Up Bonus, you will use your Chase Sapphire Preferred® to its full potential.

Featured Image: Jerami Lande/Shutterstock.com

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