December 9, 2023

Chase Sapphire Preferred Benefits and Perks [2021 Update]

If you’re in the market for a travel rewards credit card, the Chase Sapphire Preferred®…

Chase Sapphire Preferred Benefits and Perks [2021 Update]

If you’re in the market for a travel rewards credit card, the Chase Sapphire Preferred® Card should be on your list. The plentiful Chase Sapphire Preferred benefits have made it a traveler favorite.

Many people wonder if they should apply for a Chase Sapphire Reserve® vs. Chase Sapphire Preferred® Card. One thing to watch out for is the higher annual fee on the Chase Sapphire Reserve®, which makes the Chase Sapphire Preferred® Card a much more affordable option. Only you can decide whether the Chase Sapphire Preferred cardholder perks make the $95 annual fee worth paying.

To help you see it’s among the best credit cards for you, here are some of the top Chase Sapphire Preferred benefits.

Chase Sapphire Preferred benefits

This card is branded as a travel credit card, but it’s also useful when you’re close to home. That’s because this card is packed with perks you can use in your daily life. Here are some of our favorites:

An impressive sign-up bonus offer

The Chase Sapphire Preferred® Card offers a generous 60,000-point welcome bonus. You’ll need to spend $4,000 within the first three months of card ownership to qualify. If you redeem those bonus points through the Chase Ultimate Rewards portal, they’re worth $750 in travel rewards. If you’re looking for cards with a big sign-up bonus, this is one of the biggest sign-up offers out there.

Excellent earning potential

Cardmembers earn 2 points per $1 on dining. This includes dining and takeout purchases. All other spending earns 1 point per $1. That means no matter what you’re buying with this credit card, there are ways to earn points.

Through April 30, 2021, this card also offers 2 points per $1 on grocery purchases, on up to $1,000 in spending per month. This perk is also valid for grocery pick-up and delivery services.

$50 statement credit for groceries

Another limited-time offer is Chase’s grocery bonus. New cardholders can get a $50 statement credit towards eligible grocery store spending in the first year of account opening.

Added purchase protections

This Chase card also comes with purchase protection. If something you buy with the card is damaged or stolen, you can get up to $500 per claim and up to $50,000 per account. Eligible purchases are covered for up to 120 days.

This Chase Sapphire card also has extended warranty protection. This coverage extends U.S. manufacturers’ warranties by a year. This perk is available for eligible warranties of three years or less.

Benefits for people who like takeout

If you order delivery a lot, you’ll like that this card comes with a complimentary DoorDash DashPass subscription. You’ll get reduced service fees and $0 delivery fees on orders over $12. This perk is valid for one year and cardmembers must activate this membership by Dec. 31, 2021.

Earn more points for rideshare spending

Another of Chase’s limited-time bonus categories is extra rewards on Lyft rideshares. Lyft is a useful service even if you aren’t making a major trip. The Chase Sapphire Preferred earns 5 points per $1 spent on Lyft purchases through March 2022.

Benefits for fitness fanatics

This card offers up to $60 in cash back for Peloton Digital or Peloton All-Access memberships through Dec. 31, 2021.

Chase Sapphire Preferred travel benefits

The Chase Sapphire Preferred® Card is one of the best travel credit cards on the market. As such, it’s not surprising to find some great travel-focused benefits. Whether you travel a couple of times a year or more regularly, some of these perks may offer a lot of value.

Earn big on travel purchases

Preferred cardholders will earn 2 points per $1 on eligible travel purchases with this travel card. If you’re someone who loves travel, these Chase Ultimate Rewards points can add up.

Points are worth more when redeemed for travel

Another of the top Chase Sapphire Preferred benefits is that points have more value when redeemed for travel. You’ll get 25{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} more value when you redeem points for travel purchases in the Chase Ultimate Rewards portal. One reason Chase points are popular is the number of travel partners it has. There’s a lot of flexibility to use your points for the perfect trip experience.

No foreign transaction fees

The Chase Sapphire Preferred benefits don’t stop there. Like all the top travel cards, this card won’t charge a foreign transaction fee, making it a great card for international travel. Cards that do charge for foreign purchases typically add around 3{d54a1665abf9e9c0a672e4d38f9dfbddcef0b06673b320158dd31c640423e2e5} per transaction, which can really add up. It’ll be much easier to shop abroad if you don’t have to worry about extra fees.

Protection for your next trip

The Chase Sapphire Preferred® Card also comes with trip cancellation and trip interruption insurance. Let’s say a trip you paid for with your card is canceled or cut short by illness, poor weather, or another covered situation. Cardmembers can get up to $10,000 per person and $20,000 per trip reimbursed for prepaid, non-refundable travel expenses. This includes travel expenses like passenger fares, tours, and hotels.

The Chase Sapphire Preferred benefits also include trip delay insurance. If travel is delayed by more than 12 hours or requires an overnight stay, you and your family can claim up to $500 per ticket in expenses. This includes expenses such as meals and lodging.

Another of the Chase credit card benefits included with this card is baggage delay insurance. You’ll be eligible for reimbursement for purchases like toiletries and clothing when your baggage is delayed for more than six hours. You can get up to $100 per day back for up to five days.

Auto rental collision damage waiver

Chase Sapphire Preferred benefits also include auto rental collision damage waiver. To use this perk, you’ll need to decline the rental car company’s collision insurance. Then, charge the entire rental cost to your Chase Sapphire Preferred® Card. You’ll be covered up to the vehicle’s actual cash value for theft and collision damage. This is available for most rental cars within the U.S. and abroad.

The Chase Sapphire Preferred is a winner

As you compare credit cards with travel rewards, do consider the Chase Sapphire Preferred® Card. Like many Chase credit cards, this is an excellent card with many benefits and perks. You’ll normally need a good credit score to get approved for this card. If you’re ready to apply, first check to see if you prequalify for a Chase credit card.