Chase Sapphire Preferred Benefits Guide

The Chase Sapphire priority card is one of the best bonus cards. With an outstanding welcome offer, the ability to earn valuable Chase Ultimate Rewards points, and stellar benefits, this is a card that just about anyone interested in rewards credit cards should consider. In this article, we’ll take a look at some of the benefits of this popular mid-tier travel card.

Benefits of Chase Sapphire Preferred

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  • 5X Chase Ultimate Rewards Points
  • 3x Points on Meals, Select Streaming Services, and Online Grocery Purchases (Excludes Target, Walmart, and Wholesale Clubs)
  • 2x points for all other travel purchases
  • 1X points for regular purchases
  • $50 Annual Credit On Hotel Stays Purchased Through Ultimate Rewards
  • 10% anniversary bonus

Benefits of Chase Sapphire Preferred

The $95/year Chase Sapphire Preferred offers many benefits for travel, shopping, and more. Any trip you book through the Chase Ultimate Rewards portal will earn you 5x more points, while any trip booked through other third party websites will still earn you 2x more points. The strength of the card also lies in providing rewards in non-travel fixed categories such as restaurants, some streaming services and online grocery purchases, earning 3X points.

You can also receive a welcome offer of 60,000 points by spending $4,000 within the first three months. The bonus can be worth up to $750 when redeemed through the Ultimate Rewards travel portal as each point is worth 1.25 cents when redeemed this way.

However, Sapphire Preferred doesn’t stop there, as it also offers a variety of travel, shopping, and dining perks.

Travel Benefits

Annual hotel credit

You receive a credit of $50 per year when you open an account. When you book a hotel stay through the Chase Portal, a credit of up to $50 is automatically provided. You should be aware that the 5x Chase Ultimate Rewards Travel Points will not apply to any hotel purchases until you use up the $50 Hotel Credit (which should be fairly easy to do).

New cardholders can take advantage of this immediately, while existing customers can start using this credit after their next account anniversary.

No fees for foreign transactions

The Chase Sapphire Preferred card is not subject to transaction fees abroad, so it is convenient to use when traveling abroad. You can request payment in the currency of the country you are traveling in and not pay any additional fees.

Trip cancellation/cancellation insurance

If a trip you paid for with your Sapphire Preferred Card is canceled or interrupted due to illness, inclement weather, quarantine or other covered circumstances, you can take advantage of Sapphire Preferred travel cancellation or interruption insurance. You can get up to $10,000 per person and $20,000 per trip to reimburse you for expenses such as prepaid hotel stays, travel, or activities.

This type of travel insurance is usually reserved for luxury travel cards, which tend to charge higher annual fees. This is a great perk to have up your sleeve, especially as plans can still change as the COVID-19 pandemic continues.

Car Rental Damage Disclaimer

One of the best benefits of Chase Sapphire Preferred travel is car rental insurance. You can opt out of the insurance offered by the rental company and Sapphire Preferred will provide a collision damage waiver. This covers the cost of repairing the rental car if it is damaged or stolen, but does not cover liability or personal injury. The best part is that unlike car rental insurance with many credit cards, this is primary car insurance, which means you don’t have to file a claim with your insurance company first.

Baggage delay insurance

If your bags are lost or delayed more than six hours during a Sapphire Preferred trip, you may be eligible for compensation up to $100 per day for five days. This can cover essentials such as toiletries and clothing. You, the primary cardholder, and all immediate family members traveling with you are insured.

To be eligible, you must report lost or delayed baggage to your travel service provider, such as the airline you were flying with. Certain items are not covered by insurance, such as hearing aids, jewelry, cameras, and more.

Lost baggage reimbursement

Was your luggage lost, stolen or damaged during your trip? Once you have reported the loss or theft to your airline (or other carrier) and the airline has reimbursed you for less than the monetary value of your items, you can file a claim using the Chase Sapphire Preferred card.

Of course, if you accidentally forget some things, they will not be considered lost or stolen. This particular benefit can be quite rewarding – covering a maximum of $3,000 per person per trip. There is also a sublimit of $500 for jewelry and watches and $500 for cameras and other electronic equipment per person per trip.

While Sapphire Preferred does not offer bonus rewards in any of the purchase categories, you can still use the card for non-travel purchases thanks to the following benefits.

Purchase Protection

If you pay with your Chase Sapphire Preferred card, you are also insured against damage or theft of any recently purchased items for 120 days from the date of purchase. You may be reimbursed up to $500 for each claim and $50,000 to your account.

Extended Protection Warranty

Paying with a Chase Sapphire Preferred card can also give you an extra year of extended warranty. This is in addition to any warranty offered by the manufacturer and related warranties of up to three years.

Other perks

In addition to travel and purchase protection, Chase Sapphire Preferred offers several other noteworthy benefits.

DashPass Subscription

Sapphire Preferred cardholders receive a free annual subscription to DoorDash DashPass. This includes a $0 shipping fee and a reduced service fee for orders over $12 for unlimited orders using the DoorDash or Caviar apps. New cardholders have until December 31, 2024 to activate their subscription and take advantage of this offer.

Chase Dining

Chase has partnered with global restaurant booking platform Tock to offer Chase Dining, a hub for Sapphire Preferred cardholders. With your Ultimate Rewards account, you can book tables and receive unique dining experiences at over 4,000 restaurants in 200 cities and 30 countries around the world.

Repayment Options

Perhaps one of the main strengths of the card is that it provides Chase Ultimate Rewards points, which can be used in many different ways. As previously mentioned, when you redeem points for travel through the Ultimate Rewards portal using Sapphire Preferred, your points are worth 1.25 cents each, rather than the standard 1 cent.

Other redemption methods available to you are credit statement, gift cards, Apple products through the Apple Ultimate Rewards Store, Pay Yourself Back, and cash back.

One of the best ways to increase the value of your Ultimate Rewards points is to transfer them to a Chase hotel or partner airline. Most Chase Partners transfer at a 1:1 ratio, so your 60,000 Ultimate Rewards can turn into 60,000 World of Hyatt Points (as of August 2022, The Points Guy values ​​them at 1.7 cents each).

Also, if you have more than one Chase Ultimate Rewards card, such as a Chase Freedom Flex℠ or Ink Business Cash® credit card, you can combine your points and redeem them for the maximum amount possible.

Maximizing the Benefits of the Chase Sapphire Preferred Program

There are a few things you’ll want to do to get the most out of your Chase Sapphire Preferred card. First, activate the DoorDash DashPass benefit right away. Although it is free with the Sapphire Preferred Card, it must be activated by December 31, 2022.

Use a large purchase card to take advantage of purchase protection and an additional extended warranty. And of course, using the card for travel purchases allows you to take advantage of trip cancellations/cancellations, luggage delays, and car rental insurance coverage.

Also, be sure to track your spending in the first few months to receive your signup bonus, and be sure to check your redemption offers on the Chase Ultimate Rewards portal to redeem your points for the best value available.

bottom line

Chase Sapphire Preferred is an outstanding credit card that is well worth buying for just about anyone interested in travel rewards. The 60,000 Ultimate Rewards points from the welcome offer are worth up to $750 when used to travel through Chase Ultimate Rewards and earn high rewards in some everyday categories. Reward potential and many travel benefits, it’s easy to see why the Sapphire Preferred Card is one of the most popular travel cards on the market.

Editorial disclaimer

The editorial content on this page is based solely on the objective judgment of our contributors and is not based on advertising. It was not provided or ordered by credit card issuers. However, we may receive compensation when you click on links to our partners’ products.

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