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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, including the 100,000 bonus (after spending $4,000 in the first 3 months), worth $1,250 in award travel!
100,000 Bonus Points: Chase Sapphire Preferred® Card
1. $1,250 Signup Bonus
One of the best reasons to get the Chase Sapphire Preferred Card right now is for its best and highest-ever signup bonus. Qualifying applicants can earn 100,000 bonus Chase Ultimate Rewards points, worth as much as $1,250 in award travel. You can earn the bonus after spending $4,000 in the first 3 months.
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
- 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
Aeroplan Air Canada is also expected to become a Chase travel partner later this year. 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
One benefit of the 2020 pandemic is that more purchases qualify for the 25% redemption bonus that was once exclusive to travel bookings. The Chase Pay Yourself Back feature lets Sapphire Preferred cardholders redeem points on select purchases for a 25% bonus statement credit.
Through September 30, 2021, the 25% bonus categories are:
- Home improvement stores
Eligible delivery apps qualify for the redemption bonus too. Chase Dining purchases qualify for the 25% redemption bonus when you pay with Ultimate Rewards too.
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.
Regarding DoorDash, unlimited deliveries with no delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with a DashPass subscription from DoorDash. This is worth over $100 value. But, you must activate your card by December 31, 2021.
Through March 2022, Lyft rides can earn 5x Ultimate Rewards instead of the usual 2 points per $1.
Additionally, cardholders can earn up to $60 in statement credits on Peloton Digital and All-Access Memberships through December 31, 2021. Cardholders don’t need a Peloton bike or treadmill to take advantage of the digital membership that includes 1,000s of on-demand or live fitness classes. Also to note, new Peloton Digital Members are entitled to a 30-day free trial, by visiting Onepeloton.com/ChaseSapphire and enrolling using your Sapphire Preferred card.
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.
Dining and travel purchases earn unlimited 2x Ultimate Rewards. All remaining purchases earn 1x 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.
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.
Ultimate Rewards don’t expire as long as your Sapphire Preferred account remains open and in good standing. 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.
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. As you can see, there are several reasons why this card is a popular wallet fixture when you travel or stay at home.
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Chase Sapphire Preferred® Card
- Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 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 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
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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.