Most rewards travel junkies hold the Chase Sapphire Preferred® Card, so it’s important that you know about all of its benefits. Here’s a break down of the Chase Sapphire Preferred Benefits:
A plethora of rewards credit cards are available to consumers today, each with incentives fit best for different individuals and their specific purchasing habits. The Chase Sapphire Preferred® Card falls under the category of a travel rewards card, but the points program and rewards potential for cardholders does not stop with flights or hotel bookings alone. Chase Sapphire Preferred account holders have a variety of benefits to choose from when utilizing the card, making it one of the most popular rewards cards on the market today.
Travel Benefits & Purchase Protection
One benefit I’ve used is the Sapphire Preferred’s “24 hour road side assistance” when I had a flat tire and dead battery on separate occasions both happened to be on HWY 35. Those in Dallas and Austin know the pain in dealing with HWY 35. For $59.95 someone came out in the less than an hour and fixed both issues.
The Chase Sapphire Preferred also has trip cancellation and trip interruption service, up to $10,000 per trip.
The Sapphire Preferred also has “primary” collision damage coverage on car rentals. This is a much better option than relying on the car rental company’s coverage and can be used internationally.
I hope you won’t have to use it, but the CSP also offers travel accident insurance. The Chase website states: “When you pay for your air, bus, train or cruise transportation with your card, you are eligible to receive accidental death or dismemberment coverage of up to $500,000.”
There’s also a lost luggage reimbursement of up to $3,000 per passenger. We all know how annoying and frustrating it can be when your luggage is missing.
You can get up to $500 in eligible expenses reimbursed for delays. And if your bags are delayed for ove 6 hours, you can get $100 a day, up to 5 days, for essentials like toiletries and clothing.
The Sapphire Preferred also protects your purchases made with the card. You will get “purchase protection” on new purchases for 120 days against damage or theft, up to $500 per claim and $50,000 per account.
You will also get an “extended warranty” of one year of eligible purchases, and a “price protection” rebate of up to $500 if a CSP purchases you made in the U.S. is advertised for less in print or online within 90 days. You can also be reimbursed for eligible items that the store won’t take back within 90 days of purchase, up to $500 per item, $1,000 per year.
The Ultimate Rewards Program
Of course, the Chase Sapphire Preferred credit card has one of the strongest travel rewards point programs out there. You will earn two rewards points for each dollar spent on travel and restaurant dining purchases, and one rewards point on every other purchase made with the Chase Sapphire Preferred card.
For redemptions through the Ultimate Rewards portal, each reward point is worth the equivalent of $0.01, meaning 1,000 earned points, either from travel purchases or everyday purchases, results in a rewards balance equal to $10. For individuals who spend heavily on flights, hotels, rental cards or other travel-related expenses, it is hard to beat the double points earned through this card.
Rewards points can be redeemed for a variety of items, including cash back, statement credits, and gift cards through the Chase Ultimate Rewards site. However, cardholders get the most bang for their rewards bucks when they utilize the travel option made available directly through Chase. Why? Rewards points earned on Chase Sapphire Preferred can be used to book flights, hotel stays, rental cars or other travel-related purchases through Chase Travel at a 20% discount. For example, 10,000 rewards points typically equates to $100 for the cardholder, but booking your next trip through Chase Travel allows you to only tap into 8,000 of your rewards points, leaving 2,000 for your next purchase.
In addition to the 20% discount offered on travel bookings, Chase Sapphire Preferred credit cardholders also have the ability to transfer points to preferred travel partners’ frequent flyer or frequent visitor programs. Chase Ultimate rewards earned by using the Chase Sapphire Preferred credit card can be transferred to the following partner rewards programs at a 1:1 ratio:
- British Airways Executive Club
- Korean Air Skypass
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- Hyatt Gold Passport
- IHG Rewards Club
- Marriott Rewards
- Ritz-Carlton Rewards
Transferring Ultimate Rewards points out to a travel partner in most situations is the most valuable way to redeem your points.
Chase Sapphire Preferred credit cardholders also have the ability to combine points from other Chase credit cards, such as the Chase Freedom, Chase Freedom Unlimited, and Ink Plus® Business Card. Finally, online shopping through the Chase Ultimate Rewards bonus mall offers additional rewards to cardholders. Purchases made through the online mall include a variety of partner retailers, including Apple, Nordstrom and Starbucks.
Initial Bonus Rewards
Another impressive benefit that comes with the Chase Sapphire Preferred® Card is the initial sign-up bonus available to qualified cardholders. Currently, Chase is offering an additional 50,000 rewards points to new cardholders when $4,000 or more in purchases are made with the credit card within the first three months after the account has been opened. If that rewards bonus isn’t enticing enough, account holders also have the opportunity to earn 5,000 bonus rewards points when an authorized user is added to the account within the first three months after the account is opened. For the authorized user rewards points bonus, a purchase must be made within that same three-month time period. The promotion is only available to new cardholders – those who have not received a new card member bonus within the previous 24 months on the Sapphire Preferred. Plus, you will not be approved if you have applied for more than 5 credit cards in the last 24 months.
Additional Cardholder Chase Sapphire Preferred Benefits
As a popular travel rewards card, the Chase Sapphire Preferred credit card comes with a number of additional benefits above and beyond its solid rewards points program. First, account holders do not pay foreign transaction fees for purchases made outside the United States. Card members who travel frequently out of the country can save a substantial amount by utilizing the Chase Sapphire Preferred credit card. In addition to the benefit of no foreign transaction fees, Chase Sapphire Preferred account holders also have no annual fee assessed on the card for the first year. However, after the first anniversary, an annual fee of $95 applies.
The Chase Sapphire Preferred is a Visa Signature which comes with added benefits like free movie tickets, wine tastings, and discounts on hotel bookings.
One of the great frustrations with travel rewards credit cards is the inability to book travel when it suits the card member the best. Blackout dates and travel restrictions make it difficult to utilize rewards points for some travel rewards cards, but Chase Sapphire Preferred cardholders are in luck. Card members do not have to worry about limited seating options or unavailable travel dates. If there are seats (or rooms) available for the desired destination, card members can book travel through the Chase Ultimate Rewards site without any restrictions.
For card members on the go, one of the ancillary benefits of the Chase Sapphire Preferred card makes it an attractive choice. Chase Sapphire Preferred members have direct access to customer service specialists anytime, anywhere, to assist with card issues or concerns. Instead of being directly to a frustrating circle of automated prompts, Chase customers’ calls are answered by customer service representatives.
The Fine Print for the Chase Sapphire Preferred Benefits
The Chase Sapphire Preferred® Card is a strong travel rewards card for individuals who spend frequently or heavily on flights, hotel stays, rental cars, or dining out at restaurants.
For those many people who have the card it’s important that you know about all of the Chase Sapphire Preferred benefits, so you’re able to take of advantage of them in a time of need.
Apply Now: Chase Sapphire Preferred® Card
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.