Since its inception in 2009, the Chase Sapphire Preferred Card has been among the most sought-after reward cards. The bulky blue metal card has appeared on Anthony Bourdain's No Reservations and is now standard equipment for group eating outings.
Chase redesigned the card in 2021 to make it more appealing to customers and to keep up with the competition after it had lost some of its shine.
It's a great choice for anyone wishing to diversify their point holdings, as the $95 yearly cost is manageable, and the welcome bonus is substantial. However, the card's benefits extend far beyond the first bonus offer. Consider the following list of Sapphire Preferred perks:
Benefits of Joining Chase Sapphire Preferred
For a limited time, new Chase Sapphire Preferred cardholders may earn 60,000 extra points after making $4,000 in purchases during the first three months of account setup. You may spend Chase Ultimate Rewards on various Chase products and services.
When redeemed for travel through Ultimate Rewards, the extra points are worth 1.25 cents each but can be worth more than 2 cents each when transferred to one of 14 airline or hotel transfer partners.
Interest Rate for Chase Sapphire Preferred
Sapphire Preferred is a great daily card because of its high rewards and several bonus categories. Chase Ultimate Rewards® cardholders receive 5 points per dollar spent on travel, 3 points per dollar spent at restaurants, some streaming services, and online grocery shopping, and 1 point per dollar spent anywhere else.
In addition, until March 31, 2025, cardholders will receive five points for every dollar spent on Lyft trips. Not only do we provide excellent interest rates, but we also reward our customers with a 10% point bonus on the account anniversary each year.
Airport Lounge Access with Your Chase Sapphire Card
Access to airport lounges is separate from the Chase Sapphire Preferred card. You should go with the Chase Sapphire Reserve® if this perk is a priority.
Through Priority Pass Select, you may get entry to more than 1,300 airport lounges throughout the globe. An additional service offered at some airports is a meal credit redeemable at participating eateries.
Value-Added Perks of the Chase Sapphire Preferred
While the Sapphire Preferred Card doesn't provide access to elite tiers or lounges, it provides several other valuable travel advantages. The cardholder receives a $50 yearly credit on Ultimate Rewards Travel hotel bookings.
Even though you won't be able to gain 5 points per dollar on these reservations, the $50 discount will go a long way toward offsetting your stay's expense or upgrading to superior accommodation. In addition to several travel safeguards, cardholders also incur no fees for transactions in a foreign currency.
Accident Insurance For Rental Vehicles
In the event of a minor accident while driving a rented vehicle, having rental collision coverage can save you thousands of dollars. Simply use your Sapphire Preferred for the rental and refuse the crash insurance the automobile rental agency offers. If you total a Chase-owned vehicle, Chase will pay for repairs up to the car's actual cash value, and your auto insurance will not be billed.
Safeguards For Vacationers
If your Sapphire Preferred vacation gets canceled or cut short, you're covered for up to $10,000 per person and $20,000 total. Illness and bad weather are examples of acceptable excuses. There is a growing trend in the modern world for flights to be delayed or canceled for only those two reasons.
If you use your Sapphire Preferred to pay for your trip, you can relax and enjoy your time away without worrying about spending all your savings. When a flight is delayed for more than 12 hours or if an overnight stay is necessary, you will get up to $500 per ticket to go against any unreimbursed costs.
Typical Benefits
Benefiting from Sapphire Preferred's everyday privileges is a no-brainer if you frequently order food or other items online for delivery. Until December 31, 2024, Sapphire Preferred cards can take advantage of complimentary membership to DoorDash's DashPass service.
The $96 yearly cost of this membership more than cancels out the card's $95 annual charge if you use it. In addition, from January 1, 2019, through December 31, 2023, cardholders will get a monthly statement credit of $10 to use against GoPuff purchases.
Conclusion
Chase Sapphire Preferred offers a high return on investment for its yearly premium. If you use the Chase Sapphire Preferred as your primary credit card, you may expect to save money thanks to the card's welcome bonus, boosted rewards categories, and yearly rebate.
