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How Does LendingTree Get Paid?
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How Does LendingTree Get Paid?

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Chase Sapphire Preferred: Full Benefits Guide

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

The Chase Sapphire Preferred® Card easily remains one of the best travel credit cards currently on the market — thanks to its cardholder benefits, lucrative rewards program and reasonable annual fee. Along with an annual hotel credit, trip cancellation insurance, auto rental collision damage waiver, trip delay reimbursement, the card offers a 25% increase in value when you redeem your points for travel through Chase Ultimate rewards.

We compiled a comprehensive list of Chase Sapphire Preferred® Card benefits — including travel benefits, dining benefits, protections and insurance coverages and more, as well as looked at the card’s rewards structure and redemption options — to help you squeeze the most value from your Chase Sapphire Preferred® Card.

| Disclosures
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card
on Chase's secure site
N/A
19.74% - 26.74% Variable
$95
5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and

 

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
  • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
720 850
Excellent

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Chase Sapphire Preferred® Card travel benefits

The Chase Sapphire Preferred® Card offers several benefits that can help offset the cost of your travel, including the following:

$50 annual hotel credit

Receive up to $50 in statement credits each account anniversary for hotel stays booked through Chase Ultimate Rewards. Note, you will not earn rewards on the first $50 in Ultimate Rewards hotel purchases.

$0 foreign transaction fees

The Chase Sapphire Preferred® Card comes with $0 in foreign transaction fees — meaning, you won’t be charged additional fees if you use the card to make purchases outside of the U.S.
By contrast, some credit cards charge foreign transaction fees ranging from 3% to 5% of the amount of each transaction for purchases made outside the U.S.

5x points on Lyft purchases

Chase Sapphire Preferred® Card holders can earn 5X points on Lyft rides through March 31, 2025. Eligible purchases include rides taken in Classic, Share, Lux or XL modes, bike and scooter riders, as well as subscription and membership products.

Chase Sapphire Preferred® Card dining benefits

The Chase Sapphire Preferred® Card offers the following dining benefits geared towards restaurant and grocery delivery services.

DoorDash and Caviar benefits

Receive at least 12 months of complimentary membership to DashPass which means no delivery fee and lower service fees on eligible items from DoorDash and Caviar. Activation is required to receive this limited time offer and the promotion runs through Dec. 31, 2024.

$10 monthly statement credit or Gopuff

Get $10 in statement credit each month you make a qualifying Gopuff purchase — which includes home delivery of drinks, snacks and household products — through Dec. 31, 2023.

Complimentary Instacart+ Membership

Chase Sapphire Preferred® Card cardholders are eligible to receive a complimentary Instacart+ membership for six months upon activation between June 15, 2022 and July 31, 2024.

$15 quarterly Instacart credit

After activating your complimentary Instacart+ membership, you can get a $15 statement credit after making a qualifying purchase. Credits are issued based on the quarterly calendar Chase uses, and runs through July 2024.

Chase Sapphire Preferred® Card entertainment benefits

Chase Sapphire Preferred® Card holders who enjoy entertainment perks, such as special event seating, concierge service, can take advantage of the following benefits:

Early-access tickets

Secure tickets to the biggest games and concerts without battling the crowds.

Seaport District NYC

Get exclusive offers in New York City’s Seaport District by using your card at participating merchants.

Priority seating

Enjoy the best seats in the house with access to priority seating at concerts, shows and sporting events.

Visa Infinite Concierge Service

The Visa Signature Concierge team can assist with dinner reservations, as well as tickets to concerts, Broadway shows, sporting events and more.

Chase Sapphire Preferred® Card protections

The Chase Sapphire Preferred® Card offers a wide range of travel and purchase protections to cover you in the event of an emergency or other unexpected events.

Travel protections

Trip cancellation/interruption insurance

Get reimbursed up to $10,000 per person and $20,000 per trip if sickness, weather or other covered incidents cause your trip to be canceled or interrupted. Prepaid, nonrefundable expenses, including passenger fares, tours and hotels, are covered.

Auto rental collision damage waiver

There’s no need to use your auto insurance or buy coverage from the rental agency when you book your vehicle with your Chase Sapphire Preferred® Card. The card offers primary coverage that provides reimbursement up to the actual cash value of the vehicle in the event of theft and collision damage for most rental cars in the U.S. and abroad.

Travel and emergency assistance

If a problem arises while you’re away from home, call on the Benefit Administrator for assistance with medical or legal help. Note, you will be responsible for any costs associated with this service.

Trip delay reimbursement

Receive up to $500 per ticket in meal and lodging reimbursement for you and your family if your common carrier travel has a delay of more than 12 hours or an overnight stay.

Travel accident insurance

You are eligible for up to $500,000 to cover accidental death or dismemberment when you use your card to pay for air, bus, train or cruise transportation.

Baggage delay insurance

For baggage delays of over six hours, you can be reimbursed for essential purchases, such as toiletries and clothing. You can receive up to $100 a day for five days.

Lost luggage reimbursement

Get coverage of up to $3,000 per passenger if you or an immediate family member checks or carries on luggage that is damaged or lost by the carrier.

Roadside dispatch

If you need a tow, jumpstart, tire change, lockout service, winching, gas delivery or other roadside assistance, roadside dispatch can help you. Note, roadside service fees will be provided when you call and will be billed to your card.

Purchase protections

Damage and theft protection

New purchases are covered for 120 days against theft or damage. There’s a limit of $500 per claim and $50,000 per account.

Extended warranty protection

Eligible warranties of three years or less get an extra year of coverage added to the U.S. manufacturer’s warranty.

Chip-enabled for enhanced security and wider acceptance

Use your card with confidence knowing the chip provides an additional layer of security. Cards are compatible with chip-enabled card readers in both the U.S. and abroad.

Account security protections

Zero Liability Protection

You are not responsible for unauthorized charges on your account. Contact Chase to report any charges that you didn’t make or authorize.

Fraud protection

Chase accounts are monitored in real-time to better protect you from fraud.

Fraud alerts

Get a text, an email or a call if there’s any unusual activity on your account, thanks to Chase’s 24/7 fraud monitoring.

Chase Sapphire Preferred® Card rewards

In addition to an abundance of useful benefits, the Chase Sapphire Preferred® Card offers rewards for every dollar you spend, as well as an elevated rewards rate on travel, dining and more.

Rewards on everyday purchases

Cardholders earn 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases.

Sign-up bonus

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.

25% more rewards value

When you redeem your points for travel through Chase Ultimate Rewards, you’ll get 25% more value from those rewards. So instead of being worth 1 cent each, points will be worth 1.25 cents each.

Additionally, the Chase Sapphire Preferred® Card comes with Pay Yourself BackSM, which makes points worth 25% more when you redeem them for statement credits on existing purchases in select categories that rotate throughout the year.

10% anniversary boost

Cardholders receive bonus points equal to 10% of their total purchases made the previous year each account anniversary. For example, if you spend $20,000 in purchases in a year, you receive a bonus of 2,000 points.

1-to-1 points transfer

You can transfer points at a rate of 1-to-1 to 11 airline partners and three hotel partners. Travel transfer partners include Aer Lingus AerClub, Air Canada Aeroplan, British Airways Executive Club, Emirates Skywards®, Flying Blue 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® and World of Hyatt®.

Additional rewards redemptions options

Reward points can also be redeemed for cash, gift cards, travel and pay with points per program guidelines. Redemption rates may vary by reward type.

Pros and cons of the Chase Sapphire Preferred® Card

ProsCons

  Generous sign-up bonus

  $0 foreign transaction fees

  25% value increase on travel booked through Chase Ultimate Rewards®

  $95 annual fee

  No intro APR on purchases or balance transfers

  No credit for TSA PreCheck or Global Entry

 

Is the Chase Sapphire Preferred® Card worth it?

Cardholders who travel frequently and use the card as their primary method of payment can squeeze a lot of value out of the Chase Sapphire Preferred® Card. The value you can get from the sign-up bonus alone makes up for the annual fee many times over during the first year of card membership.

But if you desire more robust travel benefits, like complimentary lounge access, annual travel credit and Global Entry/TSA PreCheck credit, you should take a look at the Chase Sapphire Reserve®. Just know, this card comes with a hefty annual fee of Chase Sapphire Reserve®.

| Disclosures
Chase Sapphire Reserve®
Chase Sapphire Reserve®
on Chase's secure site
N/A
20.74% - 27.74% Variable
$550
5x points on flights and 10x points on hotels and car rentals
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $900 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority PassTM Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
720 850
Excellent

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Frequently asked questions

There’s an annual fee of $95 for the Chase Sapphire Preferred® Card.

Unfortunately, the Chase Sapphire Preferred® Card does not offer complimentary airport lounge access.

Chase Sapphire Preferred® Card points don’t expire as long as your account remains open. That said, if your account status changes or your account is closed, you will immediately lose all of your points.

The Chase Sapphire Preferred® Card charges $0 in foreign transaction fees for purchases made outside the U.S.

Cardholders who use the Chase Sapphire Preferred® Card as a primary card and utilize the benefits should find the benefits quickly recoup the annual fee.

The Chase Sapphire Preferred® Card does not include credit for Global Entry, but the Chase Sapphire Reserve® has this benefit.

 

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