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INSIDER SECRET: The Chase Sapphire Preferred Card comes with a higher-than-usual sign-up bonus (worth AT LEAST $750 in travel when redeemed through Chase Ultimate Rewards).
It’s been 6 years since I opened my first miles and points credit card, the Chase Sapphire Preferred Card.
The Chase Sapphire Preferred is a no-brainer for the first year. You’ll earn 60,000 Chase Ultimate Rewards points after you spend $4,000 on purchases in the first 3 months from account opening. That’s worth at least $750 in travel (though it can be worth a lot more).
The card also comes with a $95 annual fee, so you’ll have to decide if it’s a card you want to keep. Most folks do because of the Chase Sapphire Preferred benefits and perks!
Chase Sapphire Preferred Card Benefits and Perks
Apply Here: Chase Sapphire Preferred Card
If you’re in the market for a travel credit card, you probably spend a lot on travel. And you almost certainly eat at restaurants often.
Fortunately for you, the Chase Sapphire Preferred gives you bonus points for these purchases. You’ll earn 2 Chase Ultimate Rewards points per dollar on travel and dining, and one point per dollar for everything else. Travel purchases include things like airfare, hotels, car rentals, Airbnb, Uber, etc.
Plus, the Chase Sapphire Preferred comes with a welcome bonus of 60,000 amazing Chase Ultimate Rewards points when you spend $4,000 on purchases within the first 3 months of opening the account.
Primary Car Rental Insurance
I use this perk far more often than any other.
When you pay for your rental car with the Chase Sapphire Preferred, you’ll automatically receive coverage for damage due to theft or collision to your rental car (you must waive the rental car agency’s CDW). So you don’t have to pay the $10+ per day for the in-house insurance provided by the rental company. This could save you a LOT of money, especially if you’re renting for weeks at a time!
In the event that you actually DO damage your rental car, filing a claim is easy.
During a trip to Ireland, I scraped my rental car against a cement pole. The rental agency charged my card $2,300 for the damage. I submitted a claim to Chase, and within weeks I received a check for $2,300! It was almost too good to be true.
The point is, the card will save you money when you decline the rental car insurance. And it will save you money when you actually wreck.
Trip Delay Reimbursement
This is another benefit I (unfortunately) have used frequently.
When you pay for at least a portion of your travel with your Chase Sapphire Preferred, you can receive up to $500 back per ticket when your trip is delayed more than 12 hours or requires an overnight stay. You’ll be reimbursed for things like:
- Ground transportation
Over Thanksgiving week, my flight was delayed and I missed my connection. I booked a room at the Grand Hyatt, ate breakfast in their fabulous restaurant, and received a check for $275 from Chase which covered every penny.
Baggage Delay Insurance
If your checked bags are delayed for 6+ hours, you’ll receive up to $100 per day (for up to 5 days), so long as you’ve paid for at least part of your fare with your Chase Sapphire Preferred.
If you don’t travel often and an airline has never lost your bag, you might not appreciate the value of this benefit. The situation probably seems highly unlikely.
IT’S COMING FOR YOU. Everyone loses a bag. And if you’re me, you lose baggage on the reg.
During a trip to Europe, my bag was delayed (lost) for FORTY days. That’s an extreme case, and probably won’t happen to you. But Chase cut me a check for $500 to reimburse me for the clothes, toiletries, etc. that I had to buy for my trip.
Huge pain. But hey, free clothes!
No Foreign Transaction Fees
If you’re traveling abroad, you’re throwing money away if you don’t use a card that waives foreign transaction fees.
Some cards will charge you a 3% fee for making purchases outside the country (that sometimes even includes reserving foreign hotels on the internet while inside the US!). The Chase Sapphire Preferred does NOT charge foreign transaction fees, so you can contract tennis elbow from furiously swiping and you won’t be charged a penny of dumb fees.
Stool happens. If your vacation is interrupted by things like inclement weather, sickness, death, a call to jury duty, etc., you may be eligible for reimbursement up to $10,000 per trip for things like airfare and hotels. You and your immediate family traveling with you are covered.
There are plenty of conditions that aren’t covered, such as injury due to negligence, sickness due to a preexisting condition, and a declared or undeclared war. You can check out the full terms and conditions here.
Extended Warranty Protection
I’ve personally never used this benefit, but it’s a cool one to have. When you buy certain products with a US manufacturer’s warranty, you’ll get an additional year of warranty (only eligible for warranties of 3 years or less).
If something you buy with your Chase Sapphire Preferred is ever victim of theft or damage within 120 days of purchase, you can have it repaired or replaced (up to $500).
That’s a pretty great benefit, though there are quite a few exclusions for which Chase won’t reimburse, such as motorized vehicles, pets, and used items.
This is a nifty feature that gives the cardholder various services when their vehicle breaks down. Simply call 800-847-2869, and you’ll get the following services for a flat fee:
- Towing – Up to 5 miles included
- Tire Changing – must have good, inflated spare
- Jump Starting – battery boost
- Lockout Service (no key replacement)
- Fuel Delivery – up to 5 gallons (cost of fuel not included)
- Winching (within 100 feet of paved or county maintained road only)
It’s not AAA, but it’s excellent when you’re in a pinch.
The Chase Sapphire Preferred is our favorite card for beginners. But it’s by no means a “beginner” card. I’m no beginner, and the Chase Sapphire Preferred still gets PLENTY of use from me. Its benefits alone (NOT points) have saved me thousands over the years. I have no intention of canceling, because it comes with benefits like:
- Trip delay insurance
- Rental car insurance
- Baggage delay insurance
- No foreign transaction fees
- Extended warranty protection
All photos by the author unless noted otherwise.