We are an independent publisher. Our reporters create honest, accurate, and objective content to help you make decisions. To support our work, we are paid for providing advertising services. Many, but not all, of the offers and clickable hyperlinks (such as a “Next” button) that appear on this site are from companies that compensate us. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, our site does not include information about every product or service that may be available to you. We strive to keep our information accurate and up-to-date, but some information may not be current. So, your actual offer terms from an advertiser may be different than the offer terms on this site. And the advertised offers may be subject to additional terms and conditions of the advertiser. All information is presented without any warranty or guarantee to you.

This page may include: credit card ads that we may be paid for (“advertiser listing”); and general information about credit card products (“editorial content”). Many, but not all, of the offers and clickable hyperlinks (such as a “Apply Now” button or “Learn More” button) that appear on this site are from companies that compensate us. When you click on that hyperlink or button, you may be directed to the credit card issuer’s website where you can review the terms and conditions for your selected offer. Each advertiser is responsible for the accuracy and availability of its ad offer details, but we attempt to verify those offer details. We have partnerships with advertisers such as Brex, Capital One, Chase, Citi, Wells Fargo and Discover. We also include editorial content to educate consumers about financial products and services. Some of that content may also contain ads, including links to advertisers’ sites, and we may be paid on those ads or links.

For more information, please see How we make money.

8 great benefits Chase added to the Sapphire cards due to COVID

  • Joseph Hostetler

    • Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full advertising policy: How we make money.

    Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.

    Credit card issuers like Chase and Amex have added enhancements to their credit cards during this period of uncertainty surrounding the economy and travel.

    Cue the Chase Sapphire benefits boosts! Those holding the Chase Sapphire Reserve® and the Chase Sapphire Preferred® Card (the best credit card for beginners) are getting some big breaks. I’ll tell you all about it!

    Chase points have never been this valuable for statement credits. (Photo by Africa Studio/Shutterstock)

    New Bonus categories

    Chase Sapphire Preferred

    Chase Sapphire Reserve

    Peloton Credits

    If you’re a fan of Peloton, the Chase Sapphire Preferred and Sapphire Reserve cards have the credits for you. Through December 31, 2021, the Preferred card will get you $60 in statement credits for eligible Digital and All-Access Peloton memberships while the Reserve card gives back $120 in statement credits. 

    More flexibility with the travel credit (only for the Sapphire Reserve)

    If you’re a Chase Sapphire Reserve cardholder and haven’t exhausted your annual $300 travel credit, Chase is making it even easier to use.

    Previously, this credit would kick in and automatically reimburse you for the first $300 of purchases that code as travel each cardmember year (airfare, hotels, Airbnb, rideshares, cruises, etc.). But now through the end of 2021, this credit will also reimburse you for purchases at gas stations and grocery stores.

    With these new credits, it really shouldn’t be too hard to take full advantage of the expanded $300 credit.

    Chase Pay Yourself Back 

    Both the Chase Sapphire Reserve and the Chase Sapphire Preferred have a super nifty new benefit called Pay Yourself Back. With it, you can use your Chase points to give yourself a statement credit to offset purchases at dining establishments, grocery stores and home improvement stores. Chase has extended the offer through Sept. 30, 2021, and you can redeem your points at the following rates:

    This is the same rate at which you can redeem your points for travel through the Chase Travel Portal. Since travel is sparse right now, this is a great option if you find that you redeem your points through the Chase Portal. Normally you can redeem Chase points at 1 cent each for cashback to cover non-travel charges — and this new benefit effectively increases the cash value of points by 25-50%.

    However, if you know the best ways to use Chase points, you know that transferring them to valuable Chase airline and hotel transfer partners can net you a value of 2 cents or more per point. You can read more about this in our post covering Chase points value.

    Discounted annual fee (only for the Sapphire Reserve)

    Earlier this year, Chase increased the annual fee for the Sapphire Reserve from $450 to $550, adding some new benefits along with the heftier price tag.  For those renewing their annual fee on the Chase Sapphire Reserve by December 31, 2020, Chase is currently offering a $100 statement credit to help reduce the price tag during the coronavirus ordeal. That effectively lowers the annual fee to $450.

    Lyft Pink membership (only for the Sapphire Reserve)

    Also included in the list of Chase Sapphire Reserve card benefits is a complimentary Lyft Pink membership for a full year if activated by Mar. 31, 2022. Considering this membership would set you back $199 ordinarily, this could account for nearly half of the discounted annual fee. 

    Doordash statement 

    As we enter the winter months and it’s less enticing to venture outside to retrieve your dinner, DoorDash is your buddy. With the Chase Sapphire Reserve card, you’ll get two $60 statement credits for use through 2021. The first $60 credit will be applied if used by Dec. 31, 2020, and the second $60 credit can be used through Dec. 31, 2021. 

    Doordash subscription

    Don’t worry if you only have the Chase Sapphire Preferred card and are a DoorDash fanatic, there are still DoorDash benefits for you. With your card, you’ll receive a complimentary year DashPass that can be used on both the DoorDash and Caviar apps. You’ll just need to activate the subscription by Dec. 31, 2021. 

    The Chase Sapphire Reserve card receives the same exact offer to use along with the statement credit!

    Other regular benefits

    There’s no shortage of benefits with the Chase Sapphire Preferred card. You’ll still have the standard benefits like trip cancellation insurance, rental car insurance, delayed baggage insurance, and credit if your trip is delayed. It’s an all around solid card for beginners.   

    The Chase Sapphire Reserve card pays for itself with a $300 annual travel credit and complimentary Priority Pass membership among other benefits. If you’re due to join or renew your Global Entry or TSA Pre membership, you’ll also get a $100 statement credit for the application fee if you use the card. Read our full review of the card here. 

    Bottom line

    Chase has deployed a suite of benefits to its Chase Sapphire cards in a coronavirus relief effort of sorts. These cards are more valuable than ever — even with the temporary halt in travel. Read our Chase Sapphire Preferred review and Chase Sapphire Reserve review for more details about these cards. Five minutes of reading will give you an unequivocal answer as to whether either of these cards deserve a spot in your wallet based on your spending and travel style.

    Be sure to subscribe to our newsletter for more miles and points news like this delivered to your inbox.

    Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)