Chase Sapphire Preferred Benefits You Can Use

The Chase Sapphire Preferred® Card*’s welcome offer is currently 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. Chase Ultimate Rewards® are one of the most versatile currencies out there. You can use that bonus toward travel at a value of 1.25 cents per point when booked through Chase Travel℠ or potentially get over 2 cents per point by redeeming them through one of over a dozen airline or hotel transfer partners.

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The Chase Sapphire Preferred® Card* is a rewarding card for everyday spending thanks to generous category bonuses. Cardmembers earn 5 points per dollar on travel purchased through Chase Travel℠, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on other purchases. Plus, the card earns 5 points per dollar on Lyft rides through March 31, 2025.

While these rates are competitive, it gets better: You’ll get a 10% point bonus every account anniversary. So if you charge $20,000 in purchases to your Sapphire Preferred Card in 12 months, you’d receive 2,000 bonus points. It’s a nice way to get rewarded for purchases that don’t earn a category bonus. You’ll essentially earn a minimum of 1.1 points per dollar spent.

When you’re ready to redeem your Chase Ultimate Rewards points, you have several options. The best way to maximize value from your points is by transferring them to one of over a dozen airline and hotel partners. In fact, if you redeem your points for premium travel (think first and business class seats or luxury hotels), you can potentially get over 2 cents in value per point.

Chase transfer partners are:

• Aer Lingus AerClub
• Air Canada Aeroplan
• Air France/KLM Flying Blue
• British Airways Executive Club
• Emirates Skywards
• Iberia Plus
• IHG Rewards Club
• JetBlue TrueBlue
• Marriott Bonvoy
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards
• United MileagePlus
• Virgin Atlantic Flying Club
• World of Hyatt

The easiest way to redeem points for travel bookings is through the Chase Travel portal. Your points will be worth 1.25 cents each this way, and sometimes this option is actually the best use of points.

For example, high-end Marriott and IHG hotels routinely charge 40,000 to 50,000 points or more per night for a free night. However, if the room rates are below $400 per night, you’re better off redeeming points through Chase Travel. That’s because, at 1.25 cents each, you’ll redeem less than 50,000 points per night. Just keep in mind that you will likely not receive any elite benefits if you book through Chase Travel as opposed to booking directly.

Chase Sapphire Preferred Travel Benefits

While the Chase Sapphire Preferred® Card* lacks elite benefits found on premium cards, it offers plenty of other useful travel perks.

1. No foreign transaction fees. Cardmembers pay no foreign transaction fees on purchases made abroad.

2. Trip cancellation/interruption insurance. The Sapphire Preferred’s trip cancellation/interruption insurance covers up to $10,000 per person and $20,000 per trip if your trip is canceled or cut short. Covered reasons include illness and weather. In today’s world, those two reasons alone are becoming common for flight delays and trip cancellations. When you charge those costs to your Sapphire Preferred, you won’t have to worry about losing your hard-earned vacation funds.

3. Trip delay reimbursement. If your trip is delayed more than 12 hours or requires an overnight stay, you’ll receive up to $500 per ticket toward unreimbursed expenses. Qualifying expenses include meals, lodging and other incidental costs incurred because of the delay.

4. Baggage delay insurance. If an airline can’t account for your luggage over six hours after landing, you’ll get up to $100 per day, up to five days, to cover toiletries and clothes.

5. Travel and emergency assistance services. You can receive emergency assistance when traveling, including legal and medical referrals. Note this benefit doesn’t cover any fees incurred from goods or services you receive.

Chase Sapphire Preferred Lounge Benefits

The Chase Sapphire Preferred® Card* does not offer airport lounge access. If that benefit is important to you, then you should opt for the Chase Sapphire Reserve®*. That card has a higher annual fee of $550, but offers Priority Pass Select membership which is valued at $469 per year.

Priority Pass Select gets you access to over 1,300 airport lounges worldwide. At some airports, you can even opt for a dining credit at select restaurants.

Chase Sapphire Preferred Hotel Benefits

The Chase Sapphire Preferred® Card* comes with a hotel credit of up to $50 annually every account anniversary on qualifying hotel bookings. The hotel credit is only good for hotel accommodations booked through Chase Travel and paid with your card. Chase automatically applies a statement credit to your account on eligible hotel purchases. Remember that the first $50 applied to this credit won’t earn rewards points.

Chase Sapphire Preferred Car Rental Benefits

Chase Sapphire Preferred® Card* comes with primary rental car insurance. That means it kicks in immediately, not after relying on your personal insurance coverage first. The rental collision coverage is especially valuable because it can save you thousands of dollars if you get into a fender-bender in a rental car. Simply charge the rental to your Sapphire Preferred and decline the rental car company’s collision insurance at the rental counter. Chase will cover the damage cost up to the car’s cash value without the need to file a claim through your personal insurance provider.

Chase Sapphire Preferred Authorized User Benefits

Authorized users on the Chase Sapphire Preferred® Card* receive the same charging privileges as the primary cardholder. Authorized user card purchases earn the same rewards rates, so adding other qualifying family members can help bolster your points balance.

Authorized users are eligible for other select card benefits. The Chase Sapphire Preferred® Card* comes with a six-month complimentary Instacart membership, which can be activated by either the primary cardholder or an authorized user. Both primary cardholders and authorized users qualify for the complimentary DashPass membership available through a partnership with DoorDash. The pass is good for at least 12 months of membership based on when you sign up and must be activated by December 31, 2024. DashPass comes with $0 delivery fees and lower service fees on eligible orders.

Other Chase Sapphire Preferred Benefits

In addition to the card’s travel benefits, you also receive purchase protection on eligible purchases with your Chase Sapphire Preferred card.

• Purchase protection. Your card comes with purchase protection of up to $500 per claim on new card purchases. Eligible purchases are covered for up to 120 days against theft and damages. Protection is capped at $50,000 per card account.
• Extended warranty protection. Card purchases with an eligible U.S. manufacturer’s warranty of three years or less receive an additional year of coverage with Chase Sapphire Preferred.

The Chase Sapphire Preferred® Card* can easily recoup its annual fee in benefit value. Between the welcome bonus, elevated rewards categories and annual rebate, you can expect to come out ahead if you use the Chase Sapphire Preferred® Card* for your daily spending.