21 Benefits of the Chase Sapphire Preferred + Review

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The Chase Sapphire Preferred credit card offers excellent earning potential for travel and dining expenses plus extensive travel insurance coverage, making it one of the most recommended travel cards for beginners.  

It’s easy to rack up points by spending on common everyday purchases. Cardholders earn 5 points on travel booked through the Chase Ultimate Rewards portal and 3 points on dining, online groceries, and streaming services. 

The Chase Sapphire Preferred Card also features flexible redemption options, allowing you to transfer your points to leading airline and hotel programs like World of Hyatt and United MileagePlus.

You could also earn a $50 hotel statement credit, a 10% anniversary points bonus, and referral bonus points to recoup the $95 annual fee.

There’s a lot to cover with this card so let’s dive right in! 

Deals Points Card Rating:
4.5/5

Great Starter Travel Card
Chase Sapphire Preferred®
  • Earn 60,000 Ultimate Rewards Bonus Points for Spending $4,000 in the First 3 Months
  • 5x Points on Travel Booked Via Chase
  • 3x Points on Dining and Eligible Delivery Services
  • 3x Points on Select Streaming and Online Grocery (excluding Walmart, Target, and Wholesale Clubs)
  • 2x Points on Travel
  • 10% Anniversary Points Boost
  • Trip Delay and Trip Cancellation Insurance
  • Primary Rental Car Insurance
  • $95 Annual Fee

Click Here to Learn How to Apply

1. Welcome Bonus of 60,000 Chase Points

Chase welcomes you with 60,000 points when you spend $4,000 on qualifying purchases in your first three months of holding the Chase Sapphire Preferred Card.

The welcome offer is worth at least $750 if you redeem toward travel via Chase Ultimate Rewards, or even more if you transfer to airline and hotel points partners.

Pro Tip: Chase Application Rules

Chase's application rules will automatically deny if you:

(1)  Opened 5 or more personal credit cards in the past 24 months (Chase 5/24 Rule);

(2)  Currently hold a Sapphire Preferred or Sapphire Reserve (Sapphire Rule);

(3)  Received a welcome bonus on the Preferred or Reserve in the last 48 months;

(4)  Applied for more than 2 Chase cards in the last 30 days (2/30 Rule).

If you were not auto-approved, check out our Guide to Chase Application Status.

2. 5X Points on Travel Booked Through Chase Ultimate Rewards

Chase offers premium rewards for travel purchases. Cardholders earn 5 points per dollar spent on travel booked through the Chase Ultimate Rewards portal. 

Qualifying purchases include airline tickets, hotels, cruises, vacation rentals, and car rentals. 

The only downside is that hotel accommodations booked through Chase Ultimate Rewards won’t qualify for elite benefits at hotel chains like Hilton, Marriott, IHG, and Hyatt. 

3. 3X Points on Dining, Delivery, Takeouts, and Select Streaming Services

You’ll earn 3 points per dollar spent in the following categories:

  • Restaurants, including fast-food, restaurants, and cafes
  • Eligible food delivery services
  • Online groceries except for Target, Walmart, and wholesale clubs
  • Select streaming services, including Netflix, Disney+, Spotify, Youtube TV, Pandora, Apple Music, SiriusXM, Sling, Vudu, Fubo TV, Hulu, and ESPN+

4. 2X Points on Other Travel Purchases

Other travel-related expenses earn you 2 points per dollar spent.

5. 1X Point Everywhere Else

All other eligible purchases earn 1 point per dollar spent with your Chase Sapphire Preferred rewards card.

6. 10% Anniversary Points Bonus

You’ll earn bonus points equivalent to 10% of your total spending in points earned with your Chase Sapphire Preferred Card during the past account anniversary year. This 10% points bonus applies to base spending every account anniversary year. Welcome bonuses don’t count. 

For example, you earned 60,000 points through spending (excluding the welcome bonus), you would receive an additional 6,000 bonus points.

7. $95 Annual Fee

The Chase Sapphire Preferred has a $95 annual fee.

The cost is perfectly reasonable considering the card’s great earning potential and perks like a 10% points bonus and $50 yearly hotel credits that could offset its annual cost.

8. Redeem Points at 1.25 Cents Per Point

You can redeem your Ultimate Rewards points directly toward travel or transfer to airline or hotel programs at 1.25 cents each.

9. Transfer to Airline and Hotel Programs

You can transfer Chase Ultimate Rewards points to eleven airlines and three hotel points programs in the table below to earn more value than redeeming points directly for travel. 

Some of our favorite uses of Chase Ultimate Rewards are:

Iberia Avios: One of the sweet spots of redeeming Iberia Avios is flying business class from the U.S. to Madrid starting at only 34,000 Avios one-way. 

Virgin Atlantic: The best ways to use Virgin Atlantic points is for business class on Delta Air Lines, or first-class or business class to/from Japan on ANA. For example, you could 60,000 points to Virgin Atlantic for a one-way All Nippon Airways first-class ticket from New York to Tokyo rather than pay $10,000 in cash. 

Hyatt: World of Hyatt points have the highest value of all hotel points currencies allowing you to book a night starting at 5,000 points, or book a luxurious villa at the Park Hyatt Maldives for 30,000 points.

United Airlines: United miles have some nice sweet spots and tricks if you follow our guide to redeeming United Airlines miles, including business class to Europe from North America starting at 60,000 miles, or Japan or South Korea for 88,000 miles in business class one-way. 

Air Canada Aeroplan: Aeroplan is an often overlooked points program, but it can offer some nice value including 85,000 points for one-way business class from North America to Australia or New Zealand, or 60,000 points for one-way business class from North America to Europe.

Air France/KLM Flying Blue: Each month Flying Blue offers special promo awards to save you 20 to 50% on awards from North America to Europe. 

Here’s a list of all airline and hotel programs where you can transfer your Ultimate Rewards points:

Chase Ultimate Rewards Transfer Partners [1 to 1]
Aer Lingus Aer Lingus Air Canada Air Canada Aeroplan
British Airways British Airways Emirates logo Emirates
Air France Air France/KLM World of Hyatt Hyatt Hotels
Iberia logo Iberia IHG Hotels IHG Hotels
JetBlue JetBlue Marriott Hotels Marriott
Singapore Airlines Singapore Southwest Airlines Southwest
United Airlines logo United Virgin Atlantic logo Virgin Atlantic

10. DoorDash’s DashPass

Holding the Chase Sapphire Preferred card gives you a complimentary 12-month DashPass subscription. 

You’ll get free delivery and discounted service fees via DoorDash when you place any of these orders: 

  • A minimum of $12 order from a qualifying restaurant
  • At least $25 worth of purchases from an eligible grocery store

The DoorDash DashPass membership costs $9.99, making it a money-saving perk if you like to get food delivered. 

11. Trip Delay Reimbursement

You’ll receive reimbursement of up to $500 per ticket for expenses like meals and stays if your trip gets delayed for more than 12 hours or requires an overnight stay.

This is a great benefit as it covers weather delays, which are not covered by airlines. So while people are sleeping at the airport, you can enjoy a nice hotel and a four-course meal.

Trip Delay - Airport Snow

12. Trip Cancellation/Interruption Insurance

When you’re planning a trip, the last thing you want to worry about is whether or not your travel plans will be covered if something goes wrong. That’s where credit card trip cancellation and interruption insurance comes in.

Trip cancellation and interruption insurance reimburse you for non-refundable expenses if your trip is interrupted or canceled for a covered reason such as illness, severe weather, or an accidental injury. 

To be eligible for trip cancellation and interruption insurance, you’ll need to pay for your travel expenses using this card.

Travel is crazy enough without having to worry about being out of pocket if something goes wrong, so I always suggest booking all travel with a card that offers travel protections.

The Chase Sapphire Preferred’s coverage is for up to $10,000 per person and $20,000 per trip.

13. Primary Rental Car Insurance

Chase Sapphire Preferred comes with primary rental car insurance, which applies with the following conditions: 

  • You must decline the rental company’s collision insurance.
  • You must pay the entire rental cost with your card. 
  • You could receive a refund equal to the vehicle’s cash value for collision damage or theft for most rental cars in the U.S. and abroad.
Rental Car Insurance
Photo: Hertz

14. Baggage Delay Insurance

Baggage delay insurance can reimburse you for the cost of necessary personal and business items if (1) you purchased your trip with this card and (2) your bag is delayed by a common carrier like an airline, train, ferry, or cruise ship, etc.

Common reimbursable items include clothing, toiletries, and phone chargers, which can be a life-saver when you are without your bag.

The Chase Sapphire Preferred covers you and your immediate family up to $100 per day for up to five days when your bag is delayed by more than six hours.

15. $50 Hotel Statement Credits Every Anniversary Year

You can earn up to $50 in statement credits every account anniversary year if you book your hotel stays through Chase Ultimate Rewards.

16. Travel and Emergency Assistance Services

If you are ever in trouble internationally, this benefit provides legal and medical referrals and emergency assistance when you’re traveling miles away from home.

You will have to pay for any third-party costs, but it can be a major time-saver if you need help.

17. Purchase Protection

Purchase protection can save you a lot of money if you bought an eligible item that is damaged or stolen within 120-days.

For example, if accidentally dropped your new phone or laptop and broke the screen, you could file a claim to get it replaced if it was purchased within the last 120 days.

Coverage for this benefit is limited to $500 per claim and up to $50,000 per cardholder.

Credit Card Purchase Protection Broken Phone

18. Extended Warranty Protection

Credit card extended warranty protection adds up to an additional year of coverage for eligible purchases on manufacturer’s warranties up to 3 years.

Coverage matches the protection provided by the original warranty so that damage or defect would have to be covered by the original warranty for extended warranty coverage.

The maximum coverage is $10,000 per item and $50,000 per cardholder.

For example, if you bought a TV with a manufacturer’s warranty of three years, then this card would extend the warranty for free to the fourth year.

But if the TV comes with a four or five-year warranty, you should consider using an American Express or Citi credit card, which covers warranties up to 5 years.

19. No Foreign Transaction Fees

You can use your Chase Sapphire Preferred Card globally without paying any foreign transaction fees, saving you around 3% on international purchases.

This makes spending on the card more rewarding as you can still earn dining points abroad without worrying about foreign transaction fees.

Santorini Europe

20. 20,000 Bonus Points Per Referral

One way to earn extra bonus points by holding the Chase Sapphire Preferred is to refer a friend and get 20,000 bonus points if they’re approved.

Chase will reward you up to 100,000 bonus points per year through referrals.

21. Ability to Upgrade to Chase Sapphire Reserve

You can upgrade your Chase Sapphire Preferred to a Chase Sapphire Reserve after one year to unlock additional benefits such as a $300 travel credit, airport lounge access, and a better value when redeeming points for travel (1.5 cents per point vs 1.25 cents per point with Chase Sapphire Preferred). 

This is the best way to get the Chase Sapphire Reserve since the Sapphire Preferred typically has a higher bonus and it is an easier approval process.

Chase Sapphire Reserve®
  • Earn 60,000 Ultimate Rewards Points for Spending $4,000 in the First 3 Months
  • $300 Annual Travel Credit
  • 10x Points on Hotels and Rental Cars and 5x Points on Flights Booked Through Chase Ultimate Rewards
  • 3x Points on Dining, Takeout, & Eligible Food Delivery
  • 50% More Redemption Value
  • Priority Pass Airport Lounge Access
  • Trip Delay and Trip Cancellation Insurance
  • Primary Rental Car Insurance
  • $550 Annual Fee

Click Here to Learn How to Apply

The Verdict

Offering outstanding earnings in popular spending categories, the Chase Sapphire Preferred Card is perfect if you like to spend on travel, dining, online groceries, and streaming services.

Chase gives you a variety of attractive redemption options. You can easily transfer your points to any airline or hotel loyalty program and redeem them toward a luxurious flight or stay. Or you can opt for cash-back.            

This card also offers extensive coverage, including trip delay, baggage delay, primary rental car, and purchase protection.

Overall, the Chase Sapphire Preferred Card is a highly rewarding industry-leading card for those who want to get the most out of their travel and everyday spending. It’s an excellent starter card for those who want a low-annual fee option with solid benefits.

Great Starter Travel Card
Chase Sapphire Preferred®
  • Earn 60,000 Ultimate Rewards Bonus Points for Spending $4,000 in the First 3 Months
  • 5x Points on Travel Booked Via Chase
  • 3x Points on Dining and Eligible Delivery Services
  • 3x Points on Select Streaming and Online Grocery (excluding Walmart, Target, and Wholesale Clubs)
  • 2x Points on Travel
  • 10% Anniversary Points Boost
  • Trip Delay and Trip Cancellation Insurance
  • Primary Rental Car Insurance
  • $95 Annual Fee

Click Here to Learn How to Apply

Frequently Asked Questions

The Sapphire Preferred has several great benefits including trip delay insurance, primary rental car insurance, DoorDash's DashPass, trip cancellation insurance, baggage insurance, and you can transfer points to airline and hotel partners. 

The purchases that Chase counts as travel include

  • Airlines
  • Hotels
  • Motels
  • Timeshares
  • Campgrounds
  • Car rental agencies
  • Cruise lines
  • Travel agencies
  • Discount travel sites
  • Passenger trains
  • Buses
  • Taxis
  • Limousines
  • Ferries
  • Toll bridges and highways
  • Parking lots and garages

The purchases that Chase does not count as travel:

  • Real estate agents
  • Websites or owners that rent vacation properties
  • In-flight goods and services
  • On-board cruise line goods and services
  • Sightseeing activities
  • Tourist attractions
  • Merchants within airports
  • Merchants that rent vehicles for the purpose of hauling
  • The purchasing of points or miles

If you are not approved instantly, it can take a few days to get approved. You can check your application status by calling 1-888-270-2127.

 

The 7-10 day status message typically means you have been denied, but a 2 week status message means you will likely be approved. 

You can downgrade your Chase Sapphire Preferred to a Freedom or Freedom Unlimited by calling customer service at 1 (800) 432-3117. or sending a secure message from your Chase online account and request a product change.

You can upgrade to the Reserve card after you have had the Sapphire Preferred for at least a year by:

  1. Calling the number on the back of your card.
  2. Requesting an upgrade.
  3. Potentially move your credit limits from other cards to the Sapphire Reserve. 

All of your spending earns Ultimate Rewards points, which can be transferred to airline and hotel programs, or you can redeem points for travel with the Sapphire Preferred at 1.25 cents per point.