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The coronavirus travel restrictions may have you wondering if it’s still worth having a travel credit card. The new Chase Sapphire coronavirus benefits can help you enjoy to the outsized value of travel rewards while at home. These limited-time perks can be exciting if you have the Chase Sapphire Reserve® or Chase Sapphire Preferred®.
Chase Sapphire Reserve Coronavirus Benefits
Before novel coronavirus became an everyday phrase, the Chase Sapphire Reserve introduced several new benefits for Lyft and DoorDash plus an annual fee hike. Existing cardholders get a $100 renewal credit in 2020 that makes the effective annual fee $450 this year.
In addition to the coronavirus perks, the Reserve continues to offer these benefits:
- Earn 3x Ultimate Rewards on dining
- 3x Ultimate Rewards on travel (immediately after earning your $300 annual travel credit)
- Redeem points for 50% more when booking award travel on Chase travel portal
- 1:1 airline and hotel point transfers
- $300 annual travel credit
- Priority Pass Select lounge access
- Annual $60 DoorDash credit in 2020 and 2021
- One free year of DoorDash DashPass
- Travel protection benefits
New cardmembers have the opportunity to earn a one-time signup bonus of 50,000 bonus Ultimate Rewards after spending $4,000 in the first 3 months. This bonus is worth up to $750 in award travel.
Here are the limited-time benefits that make the Chase Sapphire Reserve® one of the best premium credit cards.
50% Point Redemption Bonus
Your Ultimate Rewards points are worth 50% more as statement credits for these purchases:
- Grocery stores
- Dining (includes restaurants, takeout, and food delivery services)
- Home improvement stores
This redemption bonus lasts from May 31, 2020, through September 30, 2020. You can access it by using the Pay Yourself Back tool to cover all or part of the eligible purchase. Normally, points are only worth 1 cent each for cash statement credits.
You can continue redeeming your points for 1.5 cents each when booking award travel on the Chase Ultimate Rewards travel portal.
5x Ultimate Rewards at Grocery Stores
In addition to the Chase Sapphire Reserve® 50% point redemption bonus, grocery store purchases earn 5 Ultimate Rewards per $1. The 5x bonus is currently from May 1, 2020, to June 30, 2020, for the first $1,500 in combined monthly spending. That means $1,500 in May and $1,500 in June (then 1 point per $1).
You earn the bonus points for in-store purchases, online orders with store pickup or home delivery, and grocery delivery services (like Instacart).
All grocery store purchases only earn 1 Ultimate Reward per $1 outside of the bonus period.
More Ways to Redeem the $300 Sapphire Travel Credit
From June 1, 2020, through December 31, 2020, your $300 travel credit is redeemable at grocery stores and gas stations. Chase will automatically apply this credit for travel, grocery, and gas purchases.
You may need to tactically time your bonus category purchases if you still have a travel credit. The purchases your travel credit covers won’t earn bonus points.
Normally, this means you don’t earn triple Ultimate Rewards on the first $300 in annual travel purchases. For the month of June, it can potentially mean missing the 5x bonus on groceries. That’s a potential missed opportunity to earn 1,500 Ultimate Rewards.
If your Chase Sapphire Reserve® card anniversary falls in the last half of 2020, Chase will use this credit for your first purchases in the three bonus categories before you ring in 2021.
Watch Sapphire Nights In
Are you looking for some inspiration or fresh ideas for cooking at home? Sapphire Nights In is a 30-minute live stream in partnership with Eater. You can cook alongside these chefs and celebs:
- Brooke Williamson
- Victor Cruz
- Jet Tila
- Giada de Laurentiis
- Lindsey Vonn
This perk is available to the general public on Instagram. These episodes can be entertaining and give you ideas to earn the 5x grocery store bonus.
Chase Sapphire Preferred Coronavirus Benefits
The Chase Sapphire Preferred® has a few more ways to earn and redeem points this summer.
Ongoing card benefits include:
- Earn 2x points on travel and dining
- Points are worth 25% more when booking award travel on Chase travel portal
- 1:1 airline and hotel point transfers
- Complimentary travel protection and rental car insurance
- No foreign transaction fee
The annual fee remains steady at $95. For new cardholders, the signup bonus remains 60,000 bonus Ultimate Rewards after spending $4,000 in the first 3 months.
Related: Chase Sapphire Preferred Review
25% Ultimate Rewards Redemption Bonus
Your Ultimate Rewards points are worth 1.25 cents each as statement credits for these purchases:
- Grocery stores
- Home improvement
- Dining and dining delivery services
You can claim these credits from May 31, 2020, until September 31, 2020, using the Pay Yourself Back tool.
Each Ultimate Reward continues to be worth 1.25 cents each when booking award travel on Chase. Your Chase Sapphire Preferred® points are only worth 1 cent each of non-bonus cash redemptions.
Earn 3x Ultimate Rewards at Grocery Stores
You will earn 3 Ultimate Rewards per $1 at grocery stores from May 1 to June 30, 2020. This 3x bonus applies to the first $1,500 in monthly purchases you make in May and June. All Chase Sapphire Preferred® grocery spending above $1,500 for the month earns the standard 1 point per $1.
J.P. Morgan Reserve
If you happen to own the elite J.P. Morgan Reserve Card, your limited time benefits match the Sapphire Reserve.
- 50% point redemption bonus for grocery stores, dining, and home improvement (5/31/2020 to 6/30/2020)
- Earn 5x Ultimate Rewards at grocery stores on the first $1,500 in May and June (then 1 point per $1)
- $300 annual travel credit is redeemable for travel, gas stations, and grocery stores from June 1, 2020, to December 31, 2020
Are These Benefits Worth It?
The limited-time benefits are an easy way to earn bonus Chase Ultimate Rewards while you stay at home. It’s not often that you can earn bonus points on lifestyle purchases with a travel credit card. In both cases, the grocery store bonus nets more points than the standard bonus rewards rate.
Your points can still be more valuable by transferring them to airline and hotel partners. But if you normally redeem each point for the travel redemption bonus, the 25% (Chase Sapphire Preferred®) and 50% (Chase Sapphire Reserve®) redemption bonus is a good option. It’s better than the standard one cent per point redemption rate you only get for cash rewards.
Using your $300 travel credit for travel, gas stations, and grocery stores can offset your essential spending if you won’t be paying cash for travel in 2020.
These Chase Sapphire coronavirus perks help you maximize one of the most valuable credit card points on these metal credit cards. These bonuses make it easier to bank up Ultimate Rewards for when you travel regularly again. The redemption bonus can also bring short-term financial relief as well.
Link to learn more: Chase Sapphire Preferred®
Link to learn more: Chase Sapphire Reserve®
- How Should You Use Your Travel Credit Cards As Stay-At-Home Orders Are Lifted?
- Chase Sapphire Preferred Credit Score
- 5 Things I Got Thanks To Chase Sapphire Reserve’s $300 Travel Credit
Chase Sapphire Preferred® Card
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 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, 80,000 points are worth $1,000 toward travel.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
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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.