Benefits of the Chase Sapphire Preferred Card
The Chase Sapphire Preferred Card is one of the most popular travel credit cards on the market, and it’s easy to see why. With a manageable $95 annual fee, an insanely good welcome bonus, and earning potential in various categories, this card is perfect for frequent travelers and everyday spenders alike.
This card is chock-full of high-value benefits, especially considering its affordability. Cardholders can benefit from an annual $50 hotel credit, multiple partner benefits, spectacular travel insurance protections, an anniversary points boost, and more.
Without further ado, let’s delve into 23 key benefits of the Chase Sapphire Preferred Card.
Earning Chase Sapphire Preferred rewards
1. Welcome bonus
Kick off your Sapphire Preferred card ownership with a bang—new cardholders can earn a generous welcome bonus of 60,000 points after they spend $4,000 in the first three months of account opening. This bonus is worth $750 when redeemed for travel through Chase Travel℠ or $600 for statement credits, gift cards, etc.
▶︎ See our picks: Best credit card welcome offers
2. Earning rewards
It’s easy to earn points on the Chase Sapphire Preferred Card, with earning categories ranging from travel to online grocery purchases.
Here’s how you can make the most of your dollar:
- 5X points per dollar on travel purchased through Chase Travel℠.
- 5X points per dollar on Lyft rides through March 31, 2025.
- 3X points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs).
- 2X points per dollar on all other travel purchases.
- 1X point per dollar on other purchases.
3. 10% anniversary points
Celebrate your Chase Sapphire Preferred card anniversary with a 10% points bonus on all you’ve spent throughout the year. So if you spend $50,000, that’s an extra 5,000 points to boost your rewards balance.
4. Redeeming rewards
One of the most valuable benefits of the Chase Sapphire Preferred Card is its redemption rate on travel purchases through Chase Travel. If you use your points through the travel portal, they’ll be worth 25% more than other redemption methods. That means every point is worth 1.25 cents apiece compared to the standard 1 cent apiece.
Chase Sapphire Preferred travel benefits
5. $50 annual hotel credit
Upon being approved for the Sapphire Preferred Card, you’ll get a $50 hotel credit for reservations booked through Chase Travel. After that, you’ll get this credit every year after your account anniversary. All you have to do is make your hotel booking through the travel portal and you’ll automatically get a $50 statement credit applied to your account within a couple of billing cycles.
▶︎ See our picks: Best hotel credit cards
6. Transfer partners
Chase has a solid list of airline and hotel transfer partners, and the points you earn on the Chase Sapphire Preferred Card can be transferred at a 1:1 ratio.
Chase transfer partners include:
Airlines:
- Aer Lingus
- Air France/KLM
- Air Canada
- British Airways
- Emirates
- Iberia
- JetBlue
- Singapore Airlines
- Southwest
- United
- Virgin Atlantic
Hotels:
- Hyatt
- IHG
- Marriott Bonvoy
7. High acceptance rate worldwide
While some cards, like American Express or Discover, have lower acceptance rates outside of the United States, the Chase Sapphire Preferred is a Visa credit card so it’s widely accepted abroad.
▶︎ See our picks: Best credit cards for international travel
8. No foreign transaction fees
As a card with no foreign transaction fees, you can swipe your Chase Sapphire Preferred freely overseas without worrying about incurring additional charges. Although this is usually standard for travel credit cards, it’s important to double-check the fine print if you’re spending some time outside of the United States.
Chase Sapphire Preferred travel protections
▶︎ Learn more: Chase Sapphire travel insurance
9. Trip delay reimbursement
Delayed more than 12 hours or need an unexpected overnight stay? You can get reimbursed up to $500 per ticket for expenses like meals and hotels.
10. Trip cancellation and interruption insurance
Life happens. If your trip is canceled for reasons beyond your control, such as illness or severe weather, the Chase Sapphire Preferred Card may reimburse you for up to $10,000 per person and $20,000 per trip for prepaid, nonrefundable travel expenses.
Trip interruption insurance would kick in if your trip was cut short due to events like a terrorist threat at your destination or an injury that requires you to go home. This coverage is also for up to $10,000 per person and $20,000 per trip.
11. Travel accident insurance
Should the unthinkable happen, the Sapphire Preferred card offers up to $500,000 in coverage for loss of life when traveling on a common carrier, and up to $100,000 for 24-hour coverage.
If you lose a limb, your hearing, your speech, your sight or another qualifying loss, you can qualify for coverage depending on the severity of the incident. For example, if you lose a foot, you can qualify for 50% of the maximum benefit amount but if you lose a thumb and finger on the same hand, you only qualify for 25% of the maximum benefit.
12. Travel and emergency assistance
If you face an emergency while traveling, you can access legal referrals, medical referrals, or other help as needed. This benefit doesn’t cover any fees incurred from goods or services, but having assistance only a call away gives peace of mind.
13. Baggage delay insurance
If your bags don’t show up at your destination with you, you qualify for up to $100 per day in baggage delay reimbursement for up to five days to help cover purchases like new clothing and toiletries. Your baggage must be delayed for at least six hours before this coverage kicks in.
14. Lost luggage reimbursement
Lost, stolen, or damaged luggage? You can qualify for reimbursement of up to $3,000 per person. There’s a limit of $500 for jewelry and watches and $500 for electronics, including cameras. The coverage amount is determined by the cash value of your belongings and luggage.
15. Auto rental collision damage waiver
Pay for a rental car with your Chase Sapphire Preferred Card and decline rental car coverage through the car rental company. With the Sapphire Preferred, you’ll qualify for auto rental coverage typically up to the cash value of the car. Most, but not all, cars qualify so check with your program administrator to verify coverage.
16. Roadside dispatch
On a cross-country road trip when suddenly you get a flat tire or run out of gasoline? Simply call the 24-hour roadside dispatch hotline and they’ll help you out. Though the call is free, services must be paid for by the cardholder.
Chase Sapphire Preferred other benefits
17. DoorDash membership
Enjoy free deliveries and lower service fees on eligible orders with DashPass. When you activate your membership by the end of 2024 (Dec. 31, 2024), you can access complimentary DoorDash DashPass for a minimum of one year.
18. Instacart+ membership
You can access six months of complimentary Instacart+ with your Chase Sapphire Preferred Card when activated by July 31, 2024. You can also receive up to $15 in statement credits each month, through July 2024.
19. Purchase protections
Maybe your package got stolen from your front porch or something got broken in transit. Never fear, eligible items purchased with the Sapphire Preferred card are covered against damage or theft for 120 days from the date of purchase; up to $500 per claim and $50,000 per account.
20. Extended warranty coverage
Extend the original manufacturer’s warranty by an additional year on eligible items with warranties of three years or less. This benefit covers up to $10,000 per claim, with a maximum of $50,000 per account.
22. Add authorized users
It’s free to add authorized users on the Sapphire Preferred Card and they can earn rewards at the same rate as you, helping you rack up points faster.
23. 24/7 customer service
Chase’s round-the-clock customer service ensures that help is always available for card-related questions or issues.
How to maximize Sapphire Preferred benefits
- Use the Chase Travel portal for all of your travel bookings. Through Chase Travel, you can book hotels, flights, rental cars, and more. You’ll earn 5X points when booking this way, and you can redeem those points through the portal for 25% more value.
- Utilize partner benefits & credits. The Sapphire Preferred card has valuable partner benefits like Instacart+ and DashPass memberships. It also has a $50 yearly hotel credit that can offset over half of the annual fee.
- Transfer your points. Some of Chase’s travel partners have points worth more than 1.25 cents apiece, so transferring your points to their programs can help give you even more value.
- Check out Chase Offers. Through Chase Offers, you can activate and enjoy special deals at select merchants.
- Pool rewards with another card. If you have another Chase credit card that earns Ultimate Rewards points, you can pool your points together. For example, the no-annual-fee Chase Freedom Unlimited® earns points on drugstore purchases and has a higher fallback reward rate than the Sapphire Preferred. If you have both cards, these points can be pooled and redeemed at the Sapphire Preferred’s 1.25-cent rate through Chase Travel.
▶︎ Read more: Chase Sapphire Preferred review
