Chase Sapphire Preferred: Full Benefits Guide
Here is a comprehensive list of benefits — large and small — associated with the Chase Sapphire Preferred credit card. No need to wade through pages of photos of beaches and pools in their brochures to get the details. They are subject to change — and please call Chase for the latest details before making decisions based on the coverage. We assume no liability for decisions made based upon information on this site.
The card currently offers a 50,000 point bonus (limited time offer) when you spend $3,000 within 3 months of activating the card. We currently rate it the best credit card for airline miles because of its point transfer feature.
Point earning
2 points per dollar spent on dining. From fast food to fine dining and caterers – all are eligible for 2 points per dollar spent.
2 points per dollar spent on travel. Eligible merchant categories include airlines, airports, car rental agencies (including truck, trailer, and RV), cruise ships, hotels and motels, timeshares, local and commuter transportation (including trains, buses, taxis/limos, ferries, bridges, tolls, and parking), and travel agencies.
1 point per dollar spent on all other purchases.
One additional point per every dollar spent when you book airfare and hotel accommodations online via UltimateRewards.com. Offering the same flight prices you would see at sites like Expedia, Orbitz, Kayak, or the airline websites.
Even more points by using links to online shopping. Log into UltimateRewards.com and use their links to popular online shopping sites like Macy’s, Dell, Lands End, and Travelocity. Note that this is on top of the other point bonuses, so if for example you booked using the link to Travelocity.com, you earn 2x points for a travel purchase plus the current 2x points for using the UltimateRewards link to Travelocity.com.
7% annual point bonus. Received each year on all the points you earn. So if you earned 100,000 points during the year, you will receive a 7,000 point bonus. Points you earn via the introductory bonus count toward this as well.
Reward options
Transfer points to partners. Ultimate Rewards points held by Chase Sapphire Preferred cardmembers can be transferred 1:1 to mileage accounts of the following travel partners: United Airlines, Continental Airlines, Southwest Airlines (as of 1/5/12), British Airways, Amtrak, Korean Airlines, Hyatt, Marriott, and Priority Club. Transfers are generally instant, and can be made to anyone’s account.
Buy merchandise with points. Thousands of popular items available at UltimateRewards.com.
Use points for statement credit. Purchases made within the last 60 days are eligible for statement credit using points. Each 2,000 points is worth $20 in credit.
Use mix of points and cash for travel purchases. When you book travel at www.ultimaterewards.com you can use as many or as few points as you wish toward the cost of the travel. Points are worth $0.0125 each — or 20,000 points for a $250 travel credit. Choose any flight, at any time with no restrictions.
Cash back. Convert points to cash at a rate of $10 for every 1,000 points, with a 2,000 point minimum.
Gift cards. Most available at a rate of $1 per 100 points — with minimums of 500 – 10,000 points to redeem. Retailers include Amazon, American Eagle, Applebees, Avis, Banana Republic, Barnes and Noble, Bath and Body Works, Bed Bath and Beyond, Best Buy, Best Western, Bloomingdales, BP, Brooks Brothers, Budget, Cabela’s, California Pizza Kitchen, Carnival, Continental Airlines, CVS, Dave and Busters, Dunkin Donuts, Exxon, Fairmont, Foot Locker, Gap, Hammaker Schlemmer, Hertz, Hyatt, iTunes, JCPenney, Kmart, Kohl’s, Lands End, Lowes, Marriott, Mortons, Nordstrom, Office Depot, Old Navy, Outback, PF Chang’s, Panera, Pier 1, Pottery Barn, Regal, Roy’s, Royal Caribbean, Ruth’s Chris, Saks Fifth Avenue, Sears, SeaWorld, Sephora, Shell, SpaFinder, Starbucks, Sunglass Hut, TGI Fridays, TJ Maxx, Talbots, Target, The Home Depot, The Ritz Carlton, Tourneau, Toys R Us, Universal Orlando, Walmart, Williams Sonoma.
Discounted Continental Presidents Club day passes. Available for 2,500 points — or the equivalent of $25. These usually sell for $50.
Combine points. You can combine points earned on your Chase Sapphire Preferred with those in any other Chase account that uses Chase-branded points such as Ultimate Rewards. This includes accounts in your name as well as those in the name of a spouse or domestic partner. There is no fee for the transfer.
Points do not expire. As long as your account is not delinquent and is active.
Travel benefits
Foreign transaction fees. No transaction fees will be assessed on purchases made outside the United States.
Travel Delay insurance. If your trip is delayed by 18 hours or more, you are eligible for reimbursement of up to $300 per purchased ticket for things like lodging and meals. You must purchase the ticket using your card for the benefit.
Lost baggage insurance. If your checked or carry on baggage is lost permanently or damaged you are eligible for up to $3,000 in reimbursement. You must file a claim within 45 days and must use the card to pay for the travel. This benefit extends to air, rail, and bus travel.
Trip cancellation insurance. If you must cancel travel via a common carrier due to serious illness or injury to you, spouse, or dependent child (under 19 years old if living at home, under 25 if a full time student), you can be reimbursed up to $5,000 for tickets that are non refundable, and that were purchased in full with the card. This includes tickets purchased using reward points with the card. Deaths of family members (your children, parents / in laws, grandparents / in laws, aunts/uncles/nieces/nephews, guardians) also qualify. Please check with Chase for the latest terms and conditions.
Car rental collision insurance. This coverage is secondary to any insurance you currently carry, but offers insurance against damage up to the cost of most rental car vehicles. Include economy through luxury class vehicles, vans that carry less than 7 passengers, and SUVs.
Roadside assistance. 24 hour roadside assistance including limited towing, lost key, and gas replacement is available, generally up to $50 in service value.
Lost luggage reimbursement. You will be eligible to receive reimbursement for your checked luggage, carry-on luggage, and its contents for the difference between the “value of the amount claimed” and the Common Carrier’s payment, up to $3,000 per trip (in New York, coverage is limited to $2,000 per bag for New York residents), provided the luggage was lost due to theft or misdirection by the Common Carrier.
Hotel upgrades, free breakfast, and $25 credit. The Visa Signature Hotel Collection includes hundreds of upscale hotels offering room upgrades, free continental breakfast, $25 credit, and 3pm late check-out when you use the card. Details at www.visasignaturehotels.com
Other benefits
Purchase protection. Within the first ninety (90) days of the date of purchase Purchase Security will, at the Benefit Administrator’s discretion, replace, repair, or reimburse you for eligible items of personal property purchased entirely with your eligible Visa Signature card up to a maximum of $500 per claim and $50,000 per cardholder in the event of theft, damage due to fire, vandalism, accidentally discharged water, or certain weather conditions.
Warranty extension. As part of Visa Signature benefits, the warranty on items you purchase will be doubled up to one additional year. Register at Visa Signature Warranty Manager.
Free wine tasting. Over 60 wineries in Napa and Sonoma County offer 2 complimentary tastings per card holder and discounts on wine purchased in person at the winery.
Discounts and free shipping. Many online merchants offer special discounts and shipping offers for Visa Signature card holders, see this link for details.
I see there are no foreign transaction fees. Are there any other fees charged such as a currency conversion fee for non USA purchases (I.e. Europe)?
H
Also, what rate do they use for currency conversions.
Finally, could I also get and use the mileage plus explorer card (for car rentals)?
@Mac – Yes, you can get both the Sapphire Preferred and Mileage Plus Explorer cards. As for the foreign transaction fee, there is a floating rate for currency conversions, it’s not specified, but when others have surveyed it’s been minimal versus the prevailing exchange rate. In other words, they didn’t jack up the currency exchange rate to offset the ellimination of the foreign transaction fees.
Do you know when we would receive the 7% dividend bonus? I’ve been a Preferred member since August and I just received my first statement of 2012. No dividend yet.
According to Chase, the dividend is paid out the first or second statement of the calendar year. Since my statement cycle ends in the first half of January, looks like I won’t be paid out until my February statement.
@Freddy- Thanks for checking with them, that makes sense.
Skyler, great question, I was just about to ask that, and regarding France, as well.
“Car rental collision insurance. This coverage is secondary to any insurance you currently carry, but offers insurance against damage up to the cost of most rental car vehicles.”
If I use the Chase card to pay for the rental in France, do I need to purchase they car rental company’s CDW and/or LDW insurance, as well? What about Theft Waiver insurance?
@Skyler, @John – Yes, France is covered for collision / loss damage and theft of the vehicle, so you can decline that coverage from the rental car company. Just note the coverage is after any claims you may be able to file with your own insurance policy. Personal liability is not covered by the credit card, so you would need to check whether your personal policy covers that, or purchase it from the rental agency. Full details on the Visa Signature car rental insurance benefits are here
http://usa.visa.com/personal/visa-signature/benefits/auto-rental-damage-waiver.jsp
Hi, I would like to know if I have this card, does that mean I don’t need to buy the insurance during car rental? Would it be covered by this card automatically if I pay with the card and does it cover globally (particularly in France)? Thanks in advance
Chase Sapphire℠ Preferred Card
1. if I have 50000 points, do I get 500.00 cash or 625.00 airline credit? or both?
2. Is the point is equal to mile? If I have 50,000 points , would I be able to get 2 domestic tickets(50000 miles) ?
3. If the point doesn’t equal to mile, then what is the conversion of points to mileage? How many points to get a domestic ticket?
4. What is the 7% annual points dividend means? does it mean more cash back to me every year?
Thanks!
Winny
@Winny…some answers for you..
1. It’s your choice. You can apply them as up to $500 in credits against items on your statement, or use it to purchase up to $625 in travel using their online travel booking site.
2. Yes, the points are also equal to miles. You can transfer them directly to United / Continental airlines miles, which offer domestic tickets for 25,000 miles roundtrip.
3. The conversion of points to miles is 1:1 for United / Continental, British Airways, Korean Airlines, Amtrak, Hyatt, Marriott, and Priority Club
4. The 7% annual points dividend simply gives you 7% more points at the end of each year. So if you earned 100,000 points during the year, they will add 7,000 points to the total each year. You can use that as cash statement credit, travel, or conversion to miles. And the dividend still comes even if you’ve already spent points you earned during the year.
Does this card have free companion flights???
@Paul – No, it doesn’t offer free companion flights. Some of the Delta American Express cards offer it, though only on some of the higher fares http://www.delta.com/planning_reservations/plan_flight/online_reservations/companion_certificates/index.jsp
Do you have a purchase protection, similar to visa platinum?
@resur – Yes, this is a Visa Signature card and has a purchase protection benefit. Details are at this link:
http://usa.visa.com/personal/visa-signature/benefits/purchase-security.jsp
Just called Chase Sapphire preferred and they told me they don’t have the 10,000 point annual bonus. Each year you spend $50,000 or more on the card
@George — Thanks for pointing that out. They had replaced the 10,000 point annual bonus with the 7% annual point dividend, but we had both listed. It’s updated now.
Hello,
I live in Minneapolis which is a big hub for Delta, so I almost exclusively fly on Delta.
With this card’s 1:1 point transfer to partners, is the Delta SkyMiles program one of these that are eligible for the 1:1 transfer? Are there fees to transfer points?
When I spend 3K during the first 3 months and get the 50K point bonus, could I hypothetically immediately transfer those points to Delta?
Thanks!
@DeltaFlyer – Delta mile credit cards are exclusively with American Express.
So if you want 1:1 transfer to your Delta account you need one of the cards with Membership Rewards (Green, Gold, or Platinum cards) or the Starwood Preferred Guest credit card.
http://milecards.com/1448/credit-cards-with-airline-mile-transfer-feature/
There is a 50000 point intro bonus for the Gold American Express though right now it’s for the business version of the card.
http://milecards.com/wordpress/securelinks/amexbusinessgold/
I wanted to know what kind of trip cancellation insurance and travel emergency services you offer. Is it only in effect when you have charged the trip to the Sapphire credit card or is it universal when you hold the card no matter how/where you have done the bookings? Thank you.
Nina-
You need to pay for the purchase with the card to receive the protection.