Chase Sapphire Preferred benefits guide

On top of its reward rates, this card also has great benefits for cardholders

Summary

The Chase Sapphire Preferred is one of the best rewards credit cards out there. With an excellent welcome offer, valuable Ultimate Rewards points and outstanding benefits, it’s a card almost everyone should consider.

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The Chase Sapphire Preferred Card is one of the best rewards cards out there. With an outstanding welcome offer, the ability to earn valuable Chase Ultimate Rewards points and stellar benefits, it is a card that nearly everyone interested in rewards credit cards should consider. In this article, we’ll take a look at some of the benefits that come with the Chase Sapphire Preferred card.

The power of Chase Ultimate Rewards

Chase has a wide variety of credit cards with travel perks and other benefits. Some of Chase’s credit cards are co-branded with airline and hotel partners (United, Hyatt and Southwest, to name a few). These cards earn airline miles or hotel points depending on the partner. Other Chase credit cards earn Chase Ultimate Rewards points.

You can use Chase Ultimate Rewards points in many different ways. You can either redeem Ultimate Rewards for a fixed value through the Ultimate Rewards travel site, use them through the Ultimate Rewards shopping portal or transfer them to one of Chase’s hotel or airline travel partners.

Why is the Chase Sapphire Preferred so good?

This flexibility is one of the reasons that the Chase Sapphire Preferred is such a great first travel card. You obtain access to Ultimate Rewards points and outstanding travel benefits for an annual fee of only $95. The 60,000 Ultimate Rewards points that you can currently earn from the welcome offer (after spending $4,000 in the first three months) can be worth $750 when redeemed through the Ultimate Rewards travel portal since each point is worth 1.25 cents if redeemed that way.

You can also transfer your Ultimate Rewards points to Chase’s hotel and airline travel partners. Most of Chase’s partners transfer at a 1:1 ratio, so your 60,000 Ultimate Rewards could turn into 60,000 World of Hyatt points. Additionally, if you have more than one Chase Ultimate Rewards card, like the Chase Freedom Flex℠ or Ink Business Cash® Credit Card, you can combine your points and redeem them for the highest possible value.

Chase Sapphire Preferred® Card
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Benefits and rewards include:

  • 5X points on all travel purchased through Chase Ultimate Rewards
  • 3X points on dining, including eligible delivery services, takeout and dining out (previously 2X points)
  • 3X points on eligible streaming services
  • 3X points on online grocery purchases (excluding Target, Walmart and wholesale clubs)
  • $50 annual credit on hotel stays purchased through Ultimate Rewards, which new cardmembers earn immediately (existing cardmembers will earn after their next account anniversary)
  • 10% anniversary point bonus – each account anniversary, cardmembers will receive bonus points equal to 10% of total purchases made the previous year ($25,000 in spending will earn an additional 2,500 bonus points)

Chase Sapphire Preferred travel benefits

In addition to the welcome offer and the ability to earn Ultimate Rewards points, the Chase Sapphire Preferred comes with a wide variety of useful travel benefits. This has made it a keeper for many people even as the pandemic largely curtailed travel.

Annual hotel credit

If you book hotel stays through the Chase Ultimate Rewards portal, you receive $50 in hotel credit annually. New cardholders can take advantage of this benefit immediately, while existing customers can start using this credit after their next account anniversary.

No foreign transaction fees

The Chase Sapphire Preferred card has no foreign transaction fees, so it’s a great card to use when traveling abroad. You can request to be charged in the currency of the country where you’re traveling and not get hit with any additional fees.

Trip cancellation/interruption insurance

If a trip that you paid for with your Sapphire Preferred card is canceled or cut short due to sickness, severe weather or other covered situations, take advantage of the Sapphire Preferred’s trip cancellation insurance. You can get up to $10,000 per person and $20,000 per trip to reimburse you for costs like prepaid hotels, fares or activities.

Auto rental collision damage waiver

One of the best travel benefits of the Chase Sapphire Preferred is its car rental insurance. You can decline the insurance offered by your rental company, and the Sapphire Preferred will provide a collision damage waiver. This covers the cost of repairs to your rental if it is damaged or stolen but does not cover liability or personal injury. The best part is that unlike the car rental insurance with many credit cards, it is primary car insurance, which means you do not need to file a claim with your auto insurance provider first.

Baggage delay insurance

If your bags are lost or delayed for more than six hours when traveling on a trip paid for with your Sapphire Preferred, you can be reimbursed up to $100 a day for five days. This can cover travel necessities like toiletries and clothing.

Chase Sapphire Preferred shopping protection

The card also offers benefits for the following non-travel purchases:

Purchase protection

If you pay for a purchase with your Chase Sapphire Preferred card, you are also covered for damage or theft for up to 120 days. You can be reimbursed up to $500 per claim and $50,000 on your account.

Extended warranty protection

Paying with your Chase Sapphire Preferred card can also give you an additional year of extended warranty protection. This is on top of any warranty offered by the manufacturer and on eligible warranties of three years or less.

Other benefits

Besides travel and purchase protections, the Chase Sapphire Preferred offers a few other noteworthy benefits:

DashPass subscription

Sapphire Preferred cardholders get a complimentary one-year subscription to DoorDash DashPass. This includes a $0 delivery fee and reduced service fees on orders over $12 for unlimited orders using the DoorDash or Caviar apps. New cardholders have until December 31, 2024, to activate the subscription and take advantage of this offer.

Chase Dining

Chase has partnered with global dining reservation platform Tock to offer Chase Dining, a hub for Sapphire Preferred cardholders. Through your Ultimate Rewards account, you can book reservations and unique dining experiences at more than 4,000 restaurants across 200 cities and 30 countries worldwide.

Maximizing your Chase Sapphire Preferred’s benefits

There are a few things you’ll want to do to get the most from your Chase Sapphire Preferred card. First, activate your DoorDash DashPass benefit right away. While it comes free with your Sapphire Preferred card, you’ll need to activate it before March 31, 2022.

Use the card for large purchases to take advantage of the purchase protection benefit and additional extended warranty. And of course, using the card for travel purchases allows you to take advantage of trip cancellation, baggage delay and car rental insurance coverage.

Additionally, be sure to track your spending in the first few months so you can earn the sign-up bonus, and don’t forget to check your redemption offers in the Chase Ultimate Rewards portal to redeem your points for the best available value.

Bottom line

The Chase Sapphire Preferred is an outstanding credit card and is worth it for just about anyone interested in travel rewards. The 60,000 Ultimate Rewards points from its welcome offer (after spending $4,000 in the first three months) are worth $750 when redeemed for travel through Chase Ultimate Rewards. Between its rewards earning potential and the array of travel benefits, it’s easy to see why the Sapphire Preferred is one of the most popular rewards travel cards on the market.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

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