The Chase Sapphire Reserve® and Chase Sapphire Preferred® Card are two of the best travel credit cards available. But what if you, like so many of us, are not traveling right now? Does it make sense to have a travel card in the middle of a worldwide pandemic?
If you’re feeling like your travel cards aren’t holding their value, you might change your mind after taking a look at the latest benefits Chase just announced for their Sapphire cards. These new perks are designed with the challenges facing consumers right now in mind, and to help us while we aren’t traveling.
Note: These limited-time benefits are in addition to the Chase and Amex COVID-19 perks that have already been released. They are also in addition to the previously announced Chase Sapphire Reserve changes, including the new Chase DoorDash benefits.
Chase Sapphire Reserve® limited-time benefits
For a limited time (between July 1 and September 30, 2020), you can enjoy these new Chase Sapphire Reserve benefits:
- Instacart rewards: Earn 5X Chase Ultimate Rewards points on all Instacart deliveries and pick-ups, on up to $3,000 of spending. Plus, earn up to $50 in statement credits toward a yearly or monthly Instacart Express membership.
- Gas station rewards: Earn 5X Chase Ultimate Rewards points on gas station purchases, on up to $1,500 of spending.
- Streaming services rewards: Earn 10X Chase Ultimate Rewards points with select streaming services (like Netflix and Spotify), on up to $1,500 of spending.
And here are other previously announced limited-time benefits for the Chase Sapphire Reserve:
Pay Yourself Back: Redeem Chase Ultimate Rewards points for 1.5 cents each toward a statement credit used to offset purchases within the previous 90 days at grocery stores, home improvement stores, and dining establishments. This is available from May 31 to September 30.
$300 annual travel credit applies to more than just travel: The $300 annual travel credit will automatically apply to purchases at grocery stores and gas stations (in addition to travel purchases) from June 1 until December 31.
$550 annual fee decreased: The $550 annual fee will be lowered to $450 for any renewals occurring between July 1 and December 31.
Chase Sapphire Preferred® Card limited-time benefits
There are new limited-time (between July 1 and September 30, 2020) Chase Sapphire Preferred benefits that can provide cardholders with a lot of value:
- Instacart rewards: Earn 3X Chase Ultimate Rewards points on all Instacart deliveries and pick-ups, on up to $3,000 of spending. Plus, earn up to $50 in statement credits toward a yearly or monthly Instacart Express membership.
- Gas station rewards: Earn 3X Chase Ultimate Rewards points on gas station purchases, on up to $1,500 of spending.
Streaming services rewards:Earn 5X Chase Ultimate Rewards points with select streaming services (like Netflix and Spotify), on up to $1,500 of spending.
If you aren’t traveling right now, travel credit cards may not seem the most relevant to your finances. However, as card issuers continue to release new benefits, we can see cards like the Chase Sapphire Reserve and Chase Sapphire Preferred increase in value.
Since you can now use your Chase Ultimate Rewards at their maximum redemption value for additional options beyond travel, Sapphire cards just became a lot more useful. In addition to fantastic travel cards, you can now consider them excellent choices for dining, groceries, and making purchases at home improvement stores — at least for the time being.
If you were pondering the value of your Sapphire card, you might want to hang on and take advantage of these new perks.
Great for Flexible Travel Rewards
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
5X points on travel purchased through Chase Ultimate Rewards®; 3X points on dining, select streaming services, and eligible online grocery purchases; 2X points on all other travel purchases, and 1X points per $1 on all other eligible purchases