The 20 best Chase Sapphire Preferred Card benefits
You can earn 60,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
Here's the full Sapphire Preferred rewards rate:
5x points on travel purchased through Chase Travel℠
3x points on dining, select streaming services, and online groceries
2x points on all other travel purchases
1x points on all other purchases
General travel expenses, including flights and hotel stays, provide 2x points. That's useful when planning upcoming trips, but the true hero may be the 3x dining, select streaming services, and online grocery categories. With these categories, you can earn rewards for a future vacation when you grab a bite to eat or pay for your monthly entertainment subscription, such as Disney+ or Netflix.
One of our favorite Sapphire Preferred features is that you don't have to pay an excessive annual fee. For $95 per year, you can access one of the top travel credit cards available and earn flexible Chase points. Considering this card's many benefits, it's more than a reasonable fee.
The Sapphire Preferred doesn't charge foreign transaction fees. This means you don't have to pay an extra 3% when purchasing from a foreign merchant or retailer. Credit cards with no foreign transaction fees are essential if you travel internationally.
The Sapphire Preferred works on the Visa card network to process transactions. It typically doesn't matter which major card network — including American Express, Discover, Visa, and Mastercard — you use in the U.S. because they're all widely accepted.
However, international travelers prefer Visa and Mastercard because they're more accepted worldwide than Amex and Discover. Visa credit cards are accepted in more than 200 countries and territories globally.
You can earn up to $50 in statement credits each anniversary year for hotel stays you purchase through Chase Travel. Taking advantage of this benefit each year can immediately offset over half of the $95 annual fee.
As a Chase Sapphire Preferred cardholder, you get a 25% bonus on points you redeem for travel through Chase Travel. That's a quick and easy way to increase the value of your points if you prefer using Chase Travel to make your travel bookings.
With this 25% bonus on award travel redemptions through Chase Travel, 60,000 points would be worth $750.
Chase transfer partners are one of the reasons we think Chase points are so valuable. As a redemption option, you can transfer points to one of over a dozen travel partners, including Southwest Airlines, United, and World of Hyatt.
You can often get more value from your rewards by transferring them to travel partners than redeeming them through Chase Travel. However, it depends on the specific redemption, and Chase Travel is typically easier to navigate.
Here's the complete list of Chase transfer partners:
Aer Lingus, AerClub
Air Canada Aeroplan
British Airways Executive Club
Emirates Skywards
Air France-KLM Flying Blue
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
Part of the appeal of the Chase Ultimate Rewards program is being able to combine points between eligible Chase credit cards that earn Ultimate Rewards. Depending on the situation, this provides opportunities to get more value from your points.
For example, you might use the Chase Freedom Unlimited® card to make certain everyday purchases. You can move points from the Freedom Unlimited to your Sapphire Preferred, and they're immediately worth 25% more if you plan to redeem them for travel through Chase Travel.
Using the same strategy, you can move points from another eligible card to your Sapphire Preferred and then transfer them to an available travel partner.
Depending on your needs, you can redeem points for these redemption options:
Transfers to airline and hotel partners
Chase Travel redemptions, including flights, cruises, rental cars, and hotel stays
Combine points between eligible Chase cards
Cash back (statement credit or electronic deposit into an eligible U.S. bank account)
Gift cards
Chase Dining program
Experiences
Pay Yourself Back program
Pay with Points program (Amazon.com and PayPal)
Each account anniversary, you earn a bonus of 10% of your previous year's total purchases. This likely won't be a huge bonus for most people, as 10% of a whopping $25,000 is only 2,500 total points, but it's an extra perk that doesn't require additional thinking.
The Chase Sapphire Preferred provides various types of travel coverage:
Auto rental collision damage waiver: Provides primary coverage for damages caused by theft or collision on eligible car rentals.
Baggage delay insurance: Reimburses for essential purchases on eligible delays of over six hours.
Lost luggage reimbursement: Reimburses for replacing or repairing eligible baggage due to loss, damage, or theft during a covered trip.
Travel accident insurance: Covers the cardholder and eligible family members on eligible trips against different types of accidents.
Trip cancellation and interruption insurance: Covers you against cancellations or interruptions on eligible trips due to covered situations, such as sickness or severe weather.
Trip delay reimbursement: Covers unreimbursed expenses, such as meals and lodging, for eligible delays of 12 hours or more or delays requiring an overnight stay.
Travel and emergency assistance services: Provides access to travel and emergency assistance services for various situations, including medical referrals, emergency transportation, and more. Note that benefits administrators can help you locate the services you need, but the costs of any services you decide to use are your responsibility.
Any eligible new purchases you make with your card can receive these benefits:
Purchase protection: Covers against damage or theft of eligible new purchases.
Extended warranty protection: Extends eligible warranties on covered purchases by one additional year.As a Sapphire Preferred cardmember, you can receive early access to tickets and priority seating. The events and experiences vary but could include festivals, concerts, dining experiences, and more.
You can get a complimentary one-year DashPass membership for $0 delivery fees and lower service fees on eligible orders. After you activate this offer by Dec. 31, 2027, you can receive a $10 discount each calendar month on one qualifying non-restaurant DoorDash order. This offer continues as long as you're enrolled in the Chase Sapphire Preferred DashPass membership.
You can contact the Visa Signature Concierge (1-800-953-7392) for help with restaurant reservations, tickets to various events, and more.
Eligible Chase customers can break up purchases into multiple ways using the Chase Pay Over Time feature. If eligible and available, you can use Chase Pay Over Time after your purchase or during the checkout process with participating online retailers.
Your rewards don't expire as long as your account is active.
Chase Sapphire Preferred cardholders can refer friends and family to one of the Chase Sapphire products, including the Chase Sapphire Reserve® or Sapphire Preferred. You can earn bonus points for each approved person, up to a yearly limit.
You can call the number on the back of your card for 2/47 customer service assistance.
The Chase Sapphire Preferred is a great rewards credit card for people who want to travel more for less. Its low $95 annual fee is easily offset by its generous welcome bonus, high rewards rate, and additional perks, including extensive travel and purchase coverage.
The Chase Sapphire Preferred is an excellent travel rewards card, but a no-annual-fee card may make more sense depending on your preferences. Consider these Sapphire Preferred disadvantages:
$95 annual fee
No airport lounge access
No TSA PreCheck or Global Entry fee credit
No introductory APR offer
Typically requires a good or excellent credit score
No, the Chase Sapphire Preferred doesn't provide an application fee credit for TSA PreCheck or Global Entry. For a travel credit card with a similar annual fee that does have this credit, consider the Capital One Venture Rewards Credit Card.
You must make applicable purchases with your Chase Sapphire Preferred card to be eligible for travel insurance coverage. For example, you can receive auto rental coverage if you decline the rental company's collision insurance and charge the entire rental car cost to your card.
The Chase Sapphire Preferred doesn't provide a free Lyft Pink membership.
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
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