The Chase Sapphire Preferred® Card is easily one of the top travel credit cards on the market today, and it’s one of the best rewards credit cards for beginners.
This card comes with a generous sign up bonus of 80,000 points (worth $1,000 in travel) when you spend $4,000 within three months of account opening. On top of that, cardholders will earn 2X points on dining and travel, as well as 1X points on all other purchases.
The annual fee is only $95, which is a steal when you consider the initial bonus offer you can earn. However, this card’s exceptional travel redemption options are the real reason it stands out.
Once you have the Chase Sapphire Preferred, you can redeem your rewards for cash back, statement credits, merchandise and gift cards. You can also redeem rewards for travel through the Chase Ultimate Rewards portal, where you’ll get 25 percent more value from your points. Further, this card lets you transfer points to popular airline and hotel partners like United MileagePlus, Southwest Rapid Rewards and Marriott Bonvoy at a 1:1 ratio.
Read Bankrate’s Guide to Chase Ultimate Rewards for more information about rewards redemptions.
Popular Chase Sapphire Preferred benefits you probably already know about
In addition to its generous rewards scheme, there are plenty of Chase Sapphire benefits that make this card even more valuable. Some of the perks this card offers are ones you may be familiar with already, including:
- No foreign transaction fees on purchases made outside the United States
- Primary rental car insurance coverage good for up to the actual cash value of a vehicle for most rental cars within the United States and abroad
- 5X points on Lyft purchases covered with your credit card (through March 2022)
- Qualify for a DashPass membership, which includes no delivery fees for DoorDash orders of $12 or more
- Point transfers to popular airline and hotel partners including British Airways, World of Hyatt, Emirates, IHG Rewards and JetBlue
To learn more about how to maximize this credit card, check out Bankrate’s Chase Sapphire Preferred review.
Lesser-known Chase Sapphire Preferred benefits
Beyond the standout benefits this card offers, there are plenty of lesser-known perks you’ll qualify for just by having the Sapphire Preferred in your wallet. Here are a few to look out for:
Trip cancellation and interruption insurance
If your trip is cancelled or interrupted for covered reasons beyond your control, trip cancellation and interruption insurance can reimburse you in amounts up to $10,000 per person and up to $20,000 per trip.
The cardholder and immediate family members are covered by this perk, and the cardholder doesn’t even have to be traveling in order to use this coverage. However, you do have to pay for prepaid travel expenses with your credit card to qualify.
You can read through your credit card’s full terms to see what is and isn’t covered, but Chase notes that the following situations tend to be included in this benefit: Accidental bodily injury; the loss of a life; sickness experienced by the cardholder, a traveling companion or an immediate family member of the cardholder or a traveling companion; severe weather that prevents the start or continuation a covered trip; terrorist activity or hijacking and jury duty or a court subpoena that cannot be avoided.
This coverage comes with plenty of exclusions too, such as pre-existing conditions, a change in plans or any trip that is longer than 60 days.
Baggage delay insurance
It’s never fun to arrive at a destination where your bags do not, leaving you with no choice but to purchase clothing, toiletries and other essential supplies. The baggage delay insurance this card offers would reimburse you for up to $100 per day for up to five days when a baggage delay of at least six hours occurs.
You must pay for your travel expenses with a common carrier with your credit card for this coverage to apply.
Trip delay reimbursement
If your trip is delayed for a covered reason that’s beyond your control, such as your flight being delayed once you’re already at the airport, you can qualify for coverage for unreimbursed expenses in amounts up to $500 per ticket. The delay must be for more than 12 hours and require an overnight stay, and this reimbursement is mostly intended for meals and lodging.
Like other Chase Sapphire benefits, you have to pay for travel expenses with a common carrier with your card for this coverage to apply.
This card comes with purchase protection against damage or theft that can reimburse you when a covered item you purchased needs repair or replacement within the defined coverage timeline of 120 days. This coverage caps out at $500 per claim and $50,000 per account.
Note that this protection is good for items purchased by the cardholder, but also for items purchased by the cardholder that have been given as a gift to someone else.
Finally, don’t forget about this card’s extended warranty protection, which adds another year onto the U.S. manufacturer’s warranty on eligible warranties of three years or less. This coverage is good for items that come with a standard manufacturer’s warranty to begin with, and you must pay for the item for your credit card for the extended warranty to apply.
The warranty amount is good for up to $10,000 in coverage per claim and up to $50,000 per account.
If you’re interested in a new rewards credit card that offers plenty of valuable benefits, make sure to compare this card to other Chase credit cards. Many Chase cards offer similar cardholder perks and benefits, including some you may not even know about.
Also keep in mind that the Chase Sapphire Reserve® offers even more types of insurance coverage and perks you could benefit from.
While rewards enthusiasts tend to focus on points and miles, Chase Sapphire’s added benefits give this card and others from the issuer even more of a value boost. Make sure to compare all the pros and cons of each card — and the perks you may qualify for — before you decide.