Selecting a new credit card is a big decision, and everyone wants to find the best credit card for their situation.
This can be a complicated process, as there are many different card issuers that each offer their own rewards programs, benefits, and credit card perks. Not only that, but each individual card issuer often has lots of different cards to pick between, all of which have differing fees, ways to earn points, and cardholder benefits.
If you’re considering the Chase Sapphire Preferred, it’s important you have a complete understanding of the card’s benefits so you can decide if it’s a good deal for you. This guide will help you to understand what Chase Sapphire Preferred benefits are offered so you can make the right choice.
Chase Sapphire Preferred at a glance
The Chase Sapphire Preferred card is a rewards credit card focused on dining and travel. It has a $95 annual fee, but allows you to earn 5X on Lyft rides, 2X points on eligible dining and travel, and 1X points per $1 on all other eligible purchases.
Points can be redeemed for gift cards, merchandise, or travel purchases, including travel with partner hotels or airlines, which you can transfer points to without the points losing any value. Redeeming points through Chase Ultimate Rewards is often the best deal, though, since you get 25% more value for your points that are redeemed this way.
You can cover many different kinds of travel expenses by shopping through Chase Ultimate Rewards, including airfare, car rentals, hotels, and cruises.
The rewards program isn’t the only benefit the Chase Sapphire Preferred card offers, either. There are ample additional benefits to consider as well.
12 enticing Chase Sapphire Preferred benefits
Some of the many other Chase Sapphire Preferred perks include:
1. A 60,000 point sign-up bonus
If you spend $4,000 on purchases in the first three months after you’ve opened your account, you’ll earn this bonus worth $750 in travel when redeemed through Chase Ultimate Rewards. Redeeming these points through one of Chase’s travel transfer partners could score you a luxurious vacation.
2. No foreign transaction fees
If you use your card to make purchases outside the U.S., no fee will be charged. Some card issuers charge as much as 3% of each purchase you make abroad, which can really add up.
3. DoorDash perks
Beginning in 2020, Chase Sapphire Preferred cardholders can activate at least 12 months worth of complimentary membership to DoorDash's DashPass program. The service offers reduced fees on eligible food delivery orders of $12 or more. With membership normally valued at $9.99 a month, you could save some serious money if you frequently order in.
4. Chase trip cancellation insurance
Chase Sapphire Preferred travel protection is one of the best features of the card. Your trip cancellation or interruption insurance will cover you in case sickness, bad weather, or other calamities cut your trip short.
You could be reimbursed a maximum of $10,000 per person and $20,000 per trip for eligible non-refundable travel expenses you prepaid. This includes fees for tours, passenger travel, and hotel stays. There’s a maximum $40,000 claim limit within each 12 month period, but for most people, that means losses are fully covered.
Trip cancellation insurance providers coverage not just for the cardholder, but also for immediate family members — even when those loved ones are on a trip without the Chase cardholder. However, this insurance won’t cover you if travel arrangements are cancelled by common carriers, tour operators, or travel agencies unless the cancellation is prompted by severe weather or organized strikes. Pre-existing conditions, travel against a doctor’s advice, war, and trips that exceed 60 days also aren’t covered.
5. Trip delay reimbursement
If your airplane, bus, or other travel transportation provider is delayed for at least 12 hours or long enough to require an overnight stay, you’ll receive up to $500 per ticket for unreimbursed expenses. You can pay for meals, lodging, and other costs incurred by you and your family members with this coverage.
6. Baggage delay insurance and lost luggage benefits
If your baggage is delayed for more than six hours, you can be reimbursed for up to $100 in daily costs incurred for a maximum of five days. This coverage allows you to make essential purchases, such as buying new clothing or toiletries.
If your luggage is permanently lost or damaged, your Chase card also has you covered. Lost luggage benefits provide reimbursement for costs incurred to repair or replace carry-on or checked baggage that’s lost, stolen, or damaged.
The luggage issue must have arisen during a covered trip with a common carrier, and both the cardholder and immediate family members are covered. You can recover compensation up to the actual cash value of the items that were in the luggage — up to the benefit maximum of $3,000 per insured person. You’re also capped at $500 in coverage for certain items, including watches, electronic equipment, jewelry, and cameras.
Lost or damaged luggage must be reported as soon as you exit the common carrier, and you’ll need to provide a copy of your report to Chase to be eligible for protection.
7. Travel and emergency assistance services
When you’re away from home and need help, it can give you peace of mind to know you can easily be connected to a network of trusted experts to assist you if something goes wrong.
The Benefit Administrator for your Chase card can help you find legal help, medical assistance, or other emergency services while you’re traveling — but you have to pay for the costs of any services you obtain.
8. Rental car insurance
When you charge your rental car to your Chase card, you get primary rental collision coverage. This coverage reimburses up to the actual cash value of most rental cars in the U.S. and abroad in case of collision damage or theft.
Rental car insurance costs vary by company but typically run about $10 to $30 for each day you have the vehicle. By declining their coverage, you could save as much as $210 on a week-long trip.
9. Purchase protection
If you buy personal items with your Chase card and the items are stolen or damaged, you have coverage for the loss for up to 120 days after the time of purchase. You can recover a maximum of $500 per claim for stolen or damaged items, and there’s a maximum limit of $50,000 in coverage per account.
Purchase protection is available for most items you buy, but there are restrictions. For example, while personal care items, electronics, and clothes are usually covered, purchase protection probably wouldn’t apply when you buy used items, antiques or collectibles, motorized vehicles, computer software, or any items purchased for resale.
It’s also important to know this coverage is secondary coverage — you have to make a claim with other insurers that could cover your losses, such as your homeowner’s or renter’s insurance, before Chase will pay out when something goes wrong with a purchase.
10. Extended warranty protection
When you buy an item with a U.S. manufacturer’s warranty that is three years or less, your Chase card can extend the warranty period for an additional year. The Benefits Administrator has discretion regarding whether to repair or replace your warrantied item when you make a claim under this coverage.
There are also limits on the protection available. Your repair or replacement can’t cost more than the original purchase price of the covered item minus any shipping and handling costs. And you’re limited to $50,000 in total claims per account and $10,000 per covered item.
11. Roadside dispatch and emergency assistance while traveling
Chase cardholders are entitled to use roadside dispatch services through Chase to get help when something goes wrong on the road.
Roadside dispatch allows you to pay a standard per-use price for towing, tire changes, jump starting your car, fuel delivery, assistance getting into a locked vehicle, and more. The specific fee you’ll owe will be provided when you call for help. When you have roadside dispatch service, you’ll always know you have a trusted place to call to get connected with emergency services if you have a problem while driving.
12. Access to Chase Sapphire exclusive events
Both Chase Sapphire cards provide access to Chase Sapphire exclusive events, which you can pay for on your card or by using your accrued points.
These events include a variety of unforgettable experiences open only to VIPs, such as access to private dinners in your city. Other recent events have also included a package for two to attend batting practice and meet the Arizona Diamondbacks, grounds access at the PGA (Professional Golfers’ Association of America) Championship, and VIP game tickets to sporting events.
Commonly asked questions
Does Chase Sapphire Preferred get you into airport lounges?
The Chase Sapphire Preferred card doesn’t come with complimentary airport lounge access. However, it’s possible to purchase a Priority Pass membership that offers access to airport lounges, starting at $99 per year. For complimentary access to lounges with a Priority Pass Select membership, you need to get the Chase Sapphire Reserve card.
Does Chase Sapphire Preferred reimburse for Global Entry?
The Chase Sapphire Preferred card doesn’t offer to pay for TSA PreCheck or Global Entry. There are other cards with a similar annual fee, like the Bank of America Premium Rewards credit card and the Capital One® Venture® Rewards Credit Card that do offer to pay for this benefit. Additionally, there are American Express cards that offer this benefit, including the Amex Platinum Card and the Marriott Bonvoy Brilliant Card.
Do you get Priority Pass with Chase Sapphire Preferred?
No. It’s possible to purchase a Priority Pass membership separately, but there is no complimentary access with the Chase Sapphire Preferred. However, for those who get the Chase Sapphire Reserve, it’s possible to get a complimentary Priority Pass Select membership, which comes with access to more than 1,300 airport lounges.
How do I book travel with Chase Sapphire Preferred?
One of the best ways to book travel with the Chase Sapphire Preferred card is to use the Chase Ultimate Rewards portal. One of the benefits of booking travel through the portal, especially if you use it to redeem points, is that you get access to 25% more value. For example, if you get a 60,000-point signing bonus, those points might only be worth $600 when redeemed as cash. But if you use those same points to book travel through the Chase Ultimate Rewards portal, those points will become worth $750.
Is Chase Sapphire Preferred worth it?
Whether the Chase Sapphire Preferred card is worth the annual fee depends on your spending and how you use rewards. If you use Lyft, travel, or dine out frequently, the bonus points received on those purchases can quickly add up and make up for the $95 annual fee. Additionally, if you redeem points by booking travel through Chase Ultimate Rewards, you’ll get 25% more value, which can also more than offset the annual fee. Consider how you’re likely to use earn and use the rewards before you apply.
What credit score do I need for Chase Sapphire Preferred?
In general, you’re more likely to be approved for the Chase Sapphire Preferred card if you have excellent credit. There are some reports that indicate having at least a 700 FICO score is going to give you the best chances for approval, although there is some research that indicates you might be able to get a Chase Sapphire Preferred card with a FICO Score as low as 670.
Take advantage of Chase Sapphire Preferred benefits
#1 Travel Rewards Card
- 60,000 point sign-up bonus
- 5X points on select streaming services (up to $1,500) from July 1, 2020 to September 30, 2020
- 3X points with Instacart (up to $3,000), and at gas stations (up to $1,500) from July 1, 2020 to September 30, 2020
- 2X points on eligible dining and travel purchases
- 25% more value when redeeming rewards for travel through Chase Ultimate Rewards
- Premium travel protection benefits