For those new to earning points and miles, the Chase Sapphire Preferred card is a well-liked travel-related rewards card with a variety of perks. In addition to a welcome bonus, it provides rapid points on regular transactions, making the first year of card membership profitable. However, such benefits are rarely mentioned, making it challenging to judge their worth in relation to the reasonable annual charge.
This article seeks to offer a thorough evaluation of the advantages of the Chase Sapphire Preferred card and its possible worth in relation to the low yearly fees.
How to Earn Chase Ultimate Rewards Points?
- Welcome Bonus [$1,200-$1,600] – The welcome bonus for new Chase Sapphire Preferred cards must be earned within the first few months of receiving the card. Simply put, this welcome bonus is a one-time reward of roughly 60,000 bonus points if you spend $4,000 on purchases within the first three months of activating your account.
- Earn 3x Points for Online Grocery Purchases [$300] – With Chase, consumers may earn three times as many points for their purchases when they shop for groceries online. This category comprises online grocery purchases from supermarkets, speciality food retailers and delivery service vendors, covering delivery and pickup providers. Customers could earn 28,800 Ultimate Rewards points yearly by spending an average of $800 monthly.
- Earn 3x Points on Streaming Services [$25] – By joining these products and services, you may receive rewards on streaming subscriptions like Disney+, Hulu, ESPN+, Netflix, Sling, Vudu, Fubo TV, Apple Music, SiriusXM, Pandora, Spotify, and YouTube TV. A $100 yearly membership will net you 3,600 Ultimate Rewards points, which are worth $25.
- Earn 3x Points on Dining [$150] – Ultimate Rewards offer 3x points for every dollar spent on takeaway, delivery, or dining out, allowing for $150 worth of rewards if spent $4,000 annually.
- Earn 5x Points on Travel via Ultimate Rewards Portal [$125] – The Chase Ultimate Rewards portal allows holders of the Chase Sapphire Preferred card to make travel arrangements while earning 5x the points on each dollar spent. They can earn 10,000 Ultimate Rewards points each year by booking a few trips, accommodations, and activities.
- Earn 2x Points on All Other Travel [$125] – For expenditures made in the travel category, such as those for Uber, Airbnb, and train tickets, the Chase Sapphire Preferred card awards two points for every dollar spent. Spending $5,000 on vacation each year can earn 10,000 Ultimate Rewards points, which are worth $125 in travel. For cardholders, this card provides an extensive travel experience.
- Earn 2x Points on All Other Travel [$125] – For expenditures made in the travel category, such as those for Uber, Airbnb, and train tickets, the Chase Sapphire Preferred card awards two points for every dollar spent. Like, spending $5,000 on vacation each year can earn 10,000 Ultimate Rewards points, which are worth $125 in travel. For cardholders, this card provides an extensive travel experience.
- 10% Anniversary Earning Bonus [$30] – Surprise reward: 10% bonus on yearly anniversary points depending on purchases from the prior year.
- Earn 5x Points on Lyft [Value Varies] – Based on how frequently you use the Chase Sapphire Preferred card, you can earn 5x points for every dollar you spend on Lyft. The value of the points varies. In the Lyft app, set the card as the default means of payment to earn points.
- Transfer Points to Travel Partners [$300] – Chase transfer partners, which include major airline alliances, hotel chains, and non-alliance airlines including Southwest, Emirates, and Virgin Atlantic, accept Chase Ultimate Rewards points acquired with Chase Sapphire Preferred. Customers can take advantage of the golden offers on their respective partners’ award charts with the help of this useful option. Although numerous transfers can improve the value by reserving expensive award tickets, the transfer value is $300.
- Redeem points at 1.25 cents/ point [$100] through the Chase Travel Portal – Chase Sapphire Preferred cardholders can redeem points at a rate of 1.25 cents per point, which is greater than the rates offered by Chase Freedom Flex and Chase Freedom Unlimited. With the Chase Sapphire Preferred card, this means fewer points for more trips. The value is approximately $100, but using the Chase travel site with this elevated redemption rate at times makes sense, boosting its worth gradually.
- 25% More Value in Statement Credit Redemptions [$100] – Through December 31st, 2023, Chase Ultimate Reward points provide 1 cent statement credit for petrol stations and shops for groceries and 1.25 cents for donations to charities.
- Combine Points With Freedom Cards [$100] – The Freedom Flex and Freedom Unlimited cards allow you to transfer Ultimate Rewards points to the Chase Sapphire Preferred card, giving you more value. Through the Chase travel portal, this transfer enables travel partners or better redemption rewards. The advantage is worth $100, however, it can be ignored if you don’t have one of these cards.
- $50 Hotel Credit [$50] – When you book a hotel through the Ultimate Rewards portal, you’ll get a $50 annual statement credit.
- Primary Rental Car Insurance [$200] – The Chase Sapphire Preferred card includes basic rental car insurance, which covers repairs for your rental car without requiring you to file a claim with your personal vehicle insurance. This insurance covers damage to your rental car but fails to cover liabilities. The perk is about $200 per year, but it might be worth more if you hire cars regularly. Including a damage waiver in all rentals made with the Chase Sapphire Preferred card will help you save money on long-term rentals.
- Complimentary Travel Delay Insurance [$200] – The Chase Sapphire Preferred card comes with free travel delay insurance, which covers up to $500 per ticket for missed flights or overnight stays. This advantage, which eliminates the requirement for last-minute hotel bookings, can be worth thousands of dollars depending on the frequency of travel and delays.
- Trip Cancellation and Interruption Insurance [$100] – The Chase Sapphire Preferred card reimburses up to $10,000 in non-refundable travel expenses for cancellations caused by illness, inclement weather, or other qualifying conditions. This advantage provides peace of mind while arranging travel, especially with the recent spate of airline defects. This advantage is worth $100, but it might be valued more if utilised.
- Baggage Delay Insurance [$100] – When checked baggage delays exceed six hours, the Chase Sapphire Preferred card pays $100 in refunds for necessary items every day for up to five days. Pay for your plane ticket with the card and present documentation of the delay to be eligible for this perk. Outfits, toiletries, and mobile charging cables are all covered by reimbursement; however, contact lenses, eyeglasses, hearing aids, and cash are not. The benefit has a small $100 value, but utilising it multiple times can greatly enhance its worth.
- Roadside Dispatch and Travel and Emergency Assistance [$25] – Chase provides help with flat tyres, emergency conveyance and work-related support, but customers are still responsible for any fees spent. This inexpensive benefit is $25.
- Travel Accident Insurance [$50] – Travel accident insurance is available with the Chase Sapphire Preferred card, offering coverage for unintentional morbidity or loss of speech, sight, or hearing while travelling. For common carriers, the reward is worth $500,000, and for round-trip tickets, it is worth $100,000. It gives travellers confidence throughout long journeys and adventurous travel, even though it is unlikely to be required.
- DoorDash DashPass Complimentary Subscription[$120] – With a complimentary subscription to DoorDash DashPass that the Chase Sapphire Preferred cards provide, select orders in major American cities can receive free meal delivery and have their service fees reduced. Yearly rewards are $120 if activated by December 31, 2024.
- Instacart+ Free Subscription and Statement Credit [$110] – Sapphire by Chase Preferred card members get a complimentary 6-month Instacart+ subscription, which lowers the service cost on all purchases from 5% to 1.9%. Get complimentary shipping, 5% credit back, and a $15 statement credit every three months to go towards purchases.
- No Foreign Transaction Fees [$100] – Unlike many credit cards that impose 1% to 3% fees, the Chase Sapphire Preferred card offers foreign transaction fees-free transactions in foreign currencies. This feature can help travellers save hundreds of dollars every year, particularly if they are already using a credit card that doesn’t charge international transaction fees.
- Purchase Protection on Eligible Purchases [$100] & extended warranty – The Chase Sapphire Preferred card offers 120-day purchase safeguards for qualified purchases, including reimbursement for stolen or destroyed items up to $500 per claim and $50,000 per year. This coverage excludes second-hand goods, antiques, collectables, software, motorised vehicles, and inexplicable disappearances. The card also offers an extended warranty on qualifying items with a claim limit of 10,000 per account. Eligible purchases have a normal guarantee of three years or less, except motorised vehicles, software, pre-owned items, and resale items