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The card_name is one of the best travel rewards cards in its class. While it has an annual fee of annual_fees, it’s easy to see how it will more than pay for itself when you add up the value of the rewards and benefits you’ll earn when using the card for your daily purchases and tap into the card’s robust benefits. Here’s a close look at card_name benefits so you can better choose whether the card makes sense for your spending habits.
Earning Chase Ultimate Rewards points
The main value of the card_name is its travel rewards points. Chase points make this one of the best rewards credit cards around, and one of the best travel cards with an annual fee around $100 or less. Here’s what you’ll earn when using the card for standard purchases:
- 3x points per dollar on dining, restaurant delivery, online grocery purchases (doesn’t include Target, Walmart, or wholesale clubs), and select streaming services.
- 5x on travel purchases through Chase Ultimate Rewards.
- 2x on all other travel purchases.
- 1x on everything else.
Chase Ultimate Rewards points are worth 1.25 cents each when redeemed for travel through Chase. When transferring to Chase’s impressive list of airline and hotel partners, you might get even more value. Partners include United Airlines, Southwest Airlines, JetBlue, Air Canada, Marriott, Hyatt, IHG, and others.
As of this writing, new card_name cardholders can bonus_miles_full. When redeemed through Chase, that’s worth $750 in travel.
Chase Sapphire Preferred annual benefits
Every year on your account anniversary, you’ll earn a statement credit worth up to $50 in hotels booked through Chase Ultimate Rewards. For example, if you book a room that costs $150 a night, Chase will credit you back $50. That makes the cost of your hotel for the night effectively $100.
If you use the full value of this credit annually, this adds up to about half of your annual fee.
Also, you’ll earn bonus points worth 10% of your prior year purchases. For every $10,000 per year you spend on the card, you would get 1,000 bonus points. For example, spending $50,000 a year with the card would earn 5,000 bonus points on your account anniversary.
Chase Sapphire Preferred travel benefits
Booking travel through Chase Ultimate Rewards with points is a primary travel benefit, as is the option to transfer points to travel partners. Chase Ultimate Rewards points make this one of the best cards for everyday spending.
In addition to Ultimate Rewards points, Chase offers several valuable travel benefits to Sapphire Preferred cardholders. If you regularly travel internationally or buy from international merchants, you’ll save with the card’s no foreign transaction fee benefit. It also includes travel insurance benefits, explained in more detail below.
Chase Sapphire Preferred partner benefits
Partner deals come and go for this card. Current perks include these partner benefits.
- DoorDash Dashpass subscription: The DoorDash Dashpass gives users $0 delivery fees and lower service fees on eligible orders. Chase Sapphire Preferred members get a complimentary one-year membership, worth $96 per year, when you activate by December 41, 2024.
- Instacart: If you sign up by July 31, 2024, you can get six months free of Instacart+, a $60 value. You’ll also get $15 in statement credits per quarter for Instacart purchases, which ends in July 2024.
- 5x points partners: Purchases at Lyft and purchases over $150 from Peloton get you 5x points per dollar.
- Ennismore Hotels: At Ennismore Hotel properties, which include SLS, Mondrian, Delano, House of Originals and Hyde hotels, Chase Sapphire Preferred cardholders get a 4th night free after three paid nights, as well as receive room upgrades, late checkouts, daily complimentary breakfast, a $30 food and beverage credit.
Flexible redemption options
While the best way to redeem rewards if you want maximum value is generally for travel, you have several other options to redeem. You can also take advantage of these redemption options:
- Statement credit: Ultimate Rewards points are worth one cent each when redeemed as a statement credit. Statement credits lower your current credit card balance.
- Pay Yourself Back: Similar to statement credits, you can wipe the value of a past purchase from your account using rewards points worth one cent each.
- Redeem for gift cards: For one cent per point, you can redeem points for gift cards to many popular merchants. Chase sometimes offers promotions where you can redeem for gift cards at a discount, giving you a higher value per point.
- Buy merchandise: Often earning a lower value than other redemptions, you can turn points into merchandise through partners, including Apple or Amazon.
Exclusive to Chase, points are also redeemable for Chase Experiences and Chase Dining. Experiences include tickets to concerts or sporting events and unique dining experiences. Events may get you a seat at an exclusive Michelin-starred restaurant with chef meet-and-greet opportunities and a custom menu, among others.
Travel benefits and protections
Chase includes an appealing set of travel insurance and protections that can reimburse you when a planned trip doesn’t go as expected.
A benefit that’s easy to use is the Auto Rental Collision Damage Waiver. If you charge a car rental to your Chase Sapphire Preferred card and waive the rental company’s expensive daily insurance, your credit card provides auto insurance for your rental car for theft and collision damage. Some restrictions apply.
Other travel insurance includes trip cancellation and interruption insurance, baggage delay insurance, trip delay reimbursement, and travel emergency assistance. Depending on the scenario, any of these benefits could be extremely useful. For example, if you’re stuck at an airport overnight due to a canceled flight or delay, trip delay reimbursement coverage could get the cost of a hotel back for you.
Shopping benefits and protections
At the checkout counter or when buying online, Chase Sapphire Preferred includes two valuable benefits if your item is damaged, stolen, or doesn’t last as long as expected.
Purchase protection covers new items for 120 days against damage or theft, up to $500 per incident and up to $50,000 per account.
Extended warranty protection grants an additional year of coverage under the original manufacturer’s warranty terms on eligible items with warranties of three years or less.
Additional Chase Sapphire Preferred perks
The card includes a few additional perks that are worth noting. New cards are available to use instantly, even before the physical card arrives in the mail. Using Chase's online tools, the Spend Instantly feature enables you to add your card to a digital wallet like Apple Pay, Google Pay, or Samsung Pay.
Customer service is available 24/7, so you can reach someone for help no matter where you are in the world.
For purchases of $100 or more, you can use My Chase Plan to pick your monthly payment plan interest-free. My Chase Plan terms last from three months to 24 months.
For additional details, check out our Chase Sapphire Preferred full review.
TIME Stamp: A value winner for frequent travelers
If you use the card_name for your everyday spending needs, it’s easy to see how you can get hundreds of dollars in value from the points, insurance coverage, and other benefits. When you factor in the signup bonus and annual 10% points bonus, you’ll likely earn back the annual fee several times over. That makes this card a winner for any frequent traveler looking for a ton of value without paying more than $100 for an annual fee.
If you think the card isn’t right for you, check out our list of the best credit cards for alternatives.
Frequently asked questions (FAQs)
Which rental car company honors Chase Sapphire Preferred benefits?
With a few restrictions, the card’s benefit works at most rental companies for auto rentals. Antique vehicles, vans designed to carry more than nine passengers, large trucks, motorcycles, mopeds, limousines, and recreational vehicles are among the list of vehicles not covered by the benefit.
Does Citibank offer similar benefits to Chase Sapphire Preferred?
Citibank removed most travel and purchase protection benefits from its cards a few years ago. Check with the specific Citi credit card’s benefits details to find what’s covered by each card.
Does the Chase Sapphire Preferred card cover Global Entry application fees?
card_name doesn’t include a credit for Global Entry or TSA PreCheck. If you want that benefit from a Chase card, consider the premium card_name.
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