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The Chase Sapphire Preferred® Card is the go-to travel credit card for many travelers. Its flexible redemption options and reasonable $95 annual fee make it easy for occasional and frequent travelers to get maximum value from this card. To help better understand why this is a top credit card, here is a breakdown of the seven best perks of the Chase Sapphire Preferred.
60,000 Bonus Points: Chase Sapphire Preferred® Card
1. Signup Bonus
The Chase Sapphire Preferred® Card currently has an offer of 60,000 Ultimate Rewards points after spending $4,000 in the first 3 months from account opening, worth $750 when you redeem through Chase Ultimate Rewards®.
This bonus has is most valuable when you redeem the points for award travel by booking upcoming travel using the Chase Ultimate Rewards travel portal.
If you’re a returning Sapphire cardmember, you can qualify for this bonus if you haven’t received a Sapphire signup bonus in the past 48 months and you currently don’t have a Sapphire product.
This is one of the best credit card signup bonuses available today. It’s worth more than most premium travel credit cards currently offer (including the pricier Chase Sapphire Reserve®).
2. 25% Travel Redemption Bonus
It’s possible to get a 25% travel redemption bonus on any upcoming travel you book through your Ultimate Rewards account. With most travel credit cards, each point is worth 1 cent each for travel redemptions but you get 1.25 cents for each point with the Sapphire Preferred.
For example, every 10,000 Ultimate Rewards are worth $125 for award travel bookings but only $100 for cash redemptions.
The redemption bonus applies to these award travel bookings:
- Hotel rooms
- Rental cars
- Experiences and tours
You can also pay for your travel booking with cash and points if you want to conserve some of your Ultimate Rewards for a future trip.
This redemption bonus doesn’t apply to requesting a statement credit to cover recent travel purchases.
If you currently have one of the Chase Freedom family cards, you earn Ultimate Rewards but don’t get the 25% redemption bonus or the 1:1 point transfers. You can combine your point accounts and redeem the balance using your Sapphire Preferred to get the enhanced travel redemptions.
Given all of the best perks that come with the Sapphire Preferred, it may come as no surprise that it is one of the best Chase credit cards.
3. 1:1 Point Transfers
Chase has an awesome lineup of 1:1 transfer partners for airlines and hotels. You can transfer Ultimate Rewards in 1,000-point increments to the following loyalty programs:
- Aer Lingus AerClub
- Aeroplan Air Canada
- British Airways Executive Club
- Emirates Skywards
- FlyingBlue Air France KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- IHG Rewards Club
- Marriott Bonvoy
- World of Hyatt
Most point transfers complete within several minutes. Transferring your points can be a better option when you can get a better redemption value than the 25% redemption bonus.
You might also prefer booking directly from the travel brand if you have an existing loyalty points balance you want to redeem but need some credit card points to have the necessary balance.
Another benefit of the point transfers is booking Southwest Airlines award flights. This discount carrier doesn’t list their flights on third-party booking sites, including the Ultimate Rewards portal.
4. Travel Protection Benefits
The Sapphire Preferred offers some of the best credit card trip protection benefits that can offer financial relief if your travel plans go awry.
These perks can supplement your travel insurance policy or let you no longer purchase trip insurance for most trips.
Here are some of the perks you can receive:
- Trip cancellation and trip interruption insurance: Up to $10,000 per person and $20,000 per trip for covered reasons including sickness and severe weather.
- Trip delay reimbursement: Up to $500 per ticket when common carrier travel is delayed at least 12 hours or requires an overnight stay
- Baggage delay insurance: Up to $100 a day for 5 days for baggage delays over 6 hours
- Auto rental collision damage waiver: Primary coverage on most US rentals that replaces up to the actual cash value of the car for theft and collision damage
The primary rental car insurance is one of the best benefits as most cards only offer secondary coverage. With primary coverage, you submit a claim through Chase first before your car insurance provider.
In addition to the built-in travel insurance, you also get purchase protection (up to $500 per claim) and extended warranty protection.
5. Pay Yourself Back Redemption Bonus
The Chase Pay Yourself Back feature lets Sapphire Preferred cardholders redeem points on select purchases for a 25% bonus statement credit.
Each point can be worth up to 25% more for award travel and Pay Yourself Back redemptions.
You also have the flexibility of redeeming your points for cash statement credits, bank account deposits, and gift cards. The redemption value is 1 cent per point, which is impressive for non-travel redemptions with a travel credit card.
6. Partner Benefits
One of the best perks of the Sapphire Preferred is the partner benefits. Cardmembers can also scoop up limited-time partner benefits with select brands that essentially provide free memberships and statement credits.
Additional Chase Sapphire Preferred benefits include unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 03/31/22.
Through March 2022, Lyft rides can earn 5x Ultimate Rewards.
New offers launch periodically giving you additional opportunities to get more value from being a Sapphire member and potentially explore new brands.
7. Earn Chase Ultimate Rewards on Purchases
All Chase Sapphire Preferred Card purchases earn Chase Ultimate Rewards, which are some of the most valuable credit card points currently available.
There are several Chase Sapphire reward categories. The Chase Sapphire Preferred earns unlimited:
- 5x points on travel purchased through Chase Ultimate Rewards® (excluding hotel purchases that qualify for the $50 Anniversary Hotel Credit)
- 5x points on Lyft rides (through March 2022)
- 3x points on dining (including eligible delivery services, takeout, and dining out)
- 3x points on online grocery purchases (excluding Target®, Walmart®, and wholesale clubs)
- Also 3x points on select streaming services
- 2x points on all other travel purchases
- 1x point per $1 spent on all non-bonus purchases
There is a $50 annual Ultimate Rewards Hotel Credit. It comes in the form of a statement credit that will automatically be applied to your account when your card is used for hotel accommodation purchases made through the Ultimate Rewards program, up to an annual maximum accumulation of $50.
Plus, on each account anniversary, you’ll earn bonus points equal to 10% of your total purchases made the previous year. So, if you spend $25,000 on purchases, you’ll get 2,500 bonus points.
The qualifying travel purchases include booking travel directly from the carrier or with a third-party platform. For dining, you earn bonus points on in-restaurant, carryout, and qualifying delivery apps.
In conclusion, the best perks of the Sapphire Preferred work for both travel and everyday purchases. The Chase Sapphire Preferred strives to make it easy to earn Ultimate Rewards and redeem them for multiple rewards at peak value. Plus, there are several reasons why this card is a popular wallet fixture when you travel or stay at home.
Ultimate Rewards don’t expire as long as your Sapphire Preferred account remains open and in good standing. However, there is a $95 annual fee but no foreign transaction fee.
Check out our in-depth Chase Sapphire Preferred review if you want to learn more about all of the benefits of this top Chase credit card.
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Chase Sapphire Preferred® Card
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
- Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 03/31/22.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
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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.