14 Benefits and Perks of The Chase Sapphire Preferred® Card [$1,775+ in Value]

Airport Terminal Chase Sapphire Preferred Benefits

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The Chase Sapphire Preferred® card is one of the most popular cards in the travel rewards space, and it’s the card we recommend that most points and miles beginners start out with. This is largely because the card has a sizable list of benefits, lets you earn points quickly on everyday purchases, and has an incredible welcome bonus that makes your first year of being a cardholder extremely lucrative.

But there are a number of these benefits that aren’t often talked about — mostly because they’re hidden deep within the card’s list of benefits. In this article, we’ll take a deep dive into the card’s benefits and assign a value to each of them, giving you a full look at how much the card’s benefits are worth in comparison to its modest $95 annual fee.

Let’s get started.

Chase Sapphire Preferred Benefits

Chase Sapphire Preferred
The Chase Sapphire Preferred includes over $1000 worth of benefits. Image Credit: Chase

Below you’ll find a list of all of the Chase Sapphire Preferred’s benefits. Note that the valuations we’ve given to each of these benefits are based on moderate usage, so make sure to look at your own travel patterns and asses the value for your own usage, too.

We’ll start out by looking at the card’s points and travel benefits, and then move onto purchase protection and other similar benefits.

Earn 2x Points on All Travel and Dining Purchases [$300]

To us, the Chase Sapphire Preferred’s biggest benefit is that the card earns 2 points per dollar spent on all travel and dining purchases. Both of these categories are broad, too, so you’ll earn 2x points on purchases at coffee shops, fast food stores, Ubers, Airbnbs, and virtually anything else that fits into these 2 categories.

Depending on how much you spend in these 2 categories, you can rack up some serious value with this benefit. For example, if you spend $5,000 on dining and $6,000 on travel annually, you’ll earn a whopping 22,000 Ultimate Rewards points for your purchases.

We value Chase Ultimate Rewards points at 1.95 cents apiece, meaning that you’re effectively earning 3.9% back on all travel and dining purchases. Further, this makes our example above worth a whopping $429 — not a bad return if you’d already be making these purchases!

So with that in mind, we value the Chase Sapphire Preferred’s 2x points earning at $300 for moderate use. Your personal value may be more or less than this — for example, if you charge in reimbursable travel and dining purchases for work, you will likely assign this benefit a much higher value.

Transfer Points to Travel Partners [$300]

ANA Business Class
Book ANA Business Class by transferring your Ultimate Rewards points to Virgin Atlantic. Image Credit: All Nippon Airways

You can transfer Chase Ultimate Rewards points earned with your Sapphire Preferred to any of Chase’s airline and hotel transfer partners. This includes partners that span all of the 3 major airline alliances, most major hotel chains, and even some interesting non-alliance airlines like Southwest, Emirates, and Virgin Atlantic.

Chase Airline Transfer Partners

Chase Airline Transfer PartnerMin TransferTransfer Ratio
(Chase > Airline)
Transfer Time
Aer Lingus AerClub1,0001:1Almost Instant
British Airways Executive Club1,0001:1Almost Instant
Flying Blue AIR FRANCE KLM
1,0001:11 hour
Emirates Skywards1,0001:1New, pending reports
Iberia Plus1,0001:1Almost Instant
JetBlue1,0001:1Almost Instant
Singapore Airlines KrisFlyer
1,0001:11-2 days
Southwest Airlines Rapid Rewards1,0001:1Almost Instant
United Airlines MileagePlus1,0001:1Almost Instant
Virgin Atlantic Flying Club1,0001:1Almost Instant

Chase Hotel Transfer Partners

Chase Hotel Transfer PartnerMin TransferTransfer RatioTransfer Time
World of Hyatt
1,0001:1Almost Instant
IHG Rewards Club1,0001:11 day
Marriott Rewards1,0001:12 days

Having the ability to transfer your points to airlines makes your Ultimate Rewards points extremely valuable. This is because you can take advantage of all of these respective partner’s award chart sweet spots.

For example, you can transfer 72,000 Ultimate Rewards points to Singapore Airlines and fly the famous Singapore Suites first-class one-way from New York (JFK) to Frankfurt (FRA). These tickets typically cost more than $8,000 cash, so you’re getting an excellent value by transferring your miles.

Alternatively, you can transfer 95,000 Ultimate Rewards points to Virgin Atlantic and book a round-trip business class ticket to Tokyo on partner ANA from the Midwestern and East Coast U.S. With this award, you’ll find excellent service in the sky and pay little taxes and fees. To us, this is by far the best way to get to Japan on Ultimate Rewards points, so don’t miss out!

We value the ability to transfer points to partners at $300, but you’ll get more value if you transfer your points frequently to book high-end award tickets. Check out our article on the best Ultimate Rewards redemptions for inspiration on using your Chase points.

Redeem Points Through the Chase Travel Portal at 1.25 Cents per Point [$100]

Likewise, Sapphire Preferred cardholders can redeem their points through the Chase Travel Portal at a rate of 1.25 cents per point. This is 0.25 cents per point higher than the Chase Freedom® card and Chase Freedom Unlimited® card, so you’ll be able to redeem fewer points for more travel with the Chase Sapphire Preferred.

Hot Tip: All tickets booked through the Chase Travel Portal are eligible to earn airline miles as they’re considered paid tickets by the airline. So with that in mind, make sure to add your frequent flyer number to all tickets you book on the Chase Travel Portal.

For example, if you book a $100 one-way flight from Chicago (ORD) to New York (LGA), you’d pay just 8,000 Ultimate Rewards points. This is 1,000 miles cheaper than redeeming British Airways Avios on the same route on American Airlines, so make sure to always compare the Chase Travel Portal with transfer partners before booking a ticket.

We value this benefit conservatively at $100 as we generally recommend redeeming through transfer partners. However, it can sometimes make sense to use the Chase Travel Portal with this elevated redemption rate, so the value will be higher the more often you use it.

Combine Points With Freedom Cards [$100]

You can turn your Freedom’s cash-back into Ultimate Rewards points with your Chase Sapphire Preferred. Image Credit: Chase

If you have a Freedom or Freedom Unlimited card, you can turn cash-back earned with those cards into Ultimate Rewards points by combining your cash-back with your Chase Sapphire Preferred. Cash-back is transferred at a rate of $0.01 to 1 Ultimate Reward point.

This benefit is great because you can transfer points earned with your Freedom to travel partners and take advantage of a higher redemption rate through the Chase Travel Portal. Plus, you can use your Freedom in-tandem with your Sapphire Preferred to earn extra Ultimate Rewards points on the Freedom’s rotating 5% cash-back categories.

We value this benefit at $100, but it’s only applicable if you hold a Freedom or Freedom Unlimited card. You can disregard this valuation if you do not hold one of these cards.

No Foreign Transaction Fees [$100]

Purchases made with a Sapphire Preferred card are not subject to foreign transaction fees. Many credit cards charge a 1-3% fee on purchases made in a foreign currency, meaning that a $100 purchase could end up costing you $103 if you’re charged in Euros, British Pounds, or another currency. Thankfully, that’s not the case with the Sapphire Preferred.

We value this benefit at $100 as many travelers already have a foreign transaction fee-free credit card. However, if you don’t, this benefit alone can save you hundreds of dollars a year depending on how often you travel.

Primary Rental Car Insurance [$200]

Another super valuable Sapphire Preferred benefit is its included primary rental car insurance. All rental cars charged to your Sapphire Preferred will receive primary collision insurance, meaning that you don’t need to file a claim with your personal auto insurance if you incur damages to the car.

However, note that this insurance only covers damages to your rental car but does not include liability insurance. Because of this, you’ll either need to file a claim with your own car insurance or insurance you’ve purchased from the rental company if you’re involved in a wreck with another vehicle.

We value this benefit at $200 per year, but it can easily be worth more if you frequently rent cars. Purchasing the damage waiver can add up on long-term rentals, so having it included with your all rentals through the Sapphire Preferred can save lots of money if you rent multiple times per year.

Complimentary Travel Delay Insurance [$200]

Flight Board With Canceled And Delayed Flights
Your Chase Sapphire Preferred will cover hotel and dining expenses when delayed. Image Credit: Eviart/Shutterstock

Likewise, the Sapphire Preferred includes complimentary travel delay insurance. So long as you book airfare with your Sapphire Preferred, you’re eligible for expense reimbursement of up to $500 per ticket if your flight is delayed 12 hours or requires an overnight stay. You can be reimbursed for expenses like meals and lodging during your delay — just make sure that you charge your ticket and all expenses to your Chase Sapphire Preferred.

Hot Tip: Traveling on an award ticket? Charge the taxes and fees to your Sapphire Preferred and you’ll be covered when your flight is delayed 12+ hours.

We value this benefit at $200, too, but if you have the chance to use it, it can easily be worth thousands of dollars depending on how often you fly (and are delayed). Now when you travel, you don’t have to worry about spending hundreds of dollars on a last-minute hotel when your flight is delayed.

Trip Cancellation And Interruption Insurance [$100]

Further, the card also covers you if you need to cancel a trip due to illness, insolvency of a travel carrier, severe weather, or a number of other eligible circumstances. With the Sapphire Preferred’s trip cancellation and interruption insurance, you’re eligible for reimbursement of up to $10,000 in non-refundable travel expenses if you need to cancel before the end of your itinerary due to these circumstances.

For example, if you spend $1,500 on a prepaid airline ticket and the airline goes out of business before you travel, Chase will reimburse you for the cost of the ticket. Likewise, if you or an immediate family member gets sick the day before departure, you’re eligible for reimbursement for all non-refundable expenses.

This benefit can offer great peace of mind when booking traveling, especially when you consider how many airlines have gone defunct this year. We value this benefit at $100 as you’re unlikely to have to use it, but it can be worth a lot more if you do.

Baggage Delay Insurance [$100]

The Sapphire Preferred also covers your checked baggage if it’s delayed more than 6 hours. You’ll receive $100 in reimbursements for essential items per day for up to 5 days. Like trip delay insurance, though, your plane ticket must be paid for with your Sapphire Preferred to take advantage of the benefit.

Additionally, make sure to get proof of baggage delay from your airline and keep all receipts for the things you’ve purchased during your baggage delay. Then, file a claim by calling the number on the back of your card within 20 days of the incident.

Chase says that things like clothing, toiletries, and a cell phone charging cable are eligible for reimbursement, but that’s not an exhaustive list. Call the number on the back of your card if you’re curious about a charge being eligible for reimbursement. Do note that contact lenses, eyeglasses, hearing aids, and money are explicitly not eligible for reimbursement, so make sure to keep these in your hand baggage.

We value this benefit modestly at $100. But again, if you can use it more than once, it will quickly become much more valuable. Note that even using this benefit once will more than cover the card’s $95 annual fee.

Roadside Dispatch and Travel and Emergency Assistance [$25]

Chase will help you find a doctor, lawyer, emergency transportation, or even someone to help you change a flat tire when traveling around the world, driving to work, or wherever else you may need help.

Just note that while Chase will help you find help in these situations, you’re liable for all charges incurred. So with that in mind, we value this simple benefit at $25. Check out our full guide to Chase travel benefits for a more exhaustive list of ways Chase can help.

Travel Accident Insurance [$50]

The final travel insurance benefit included with your Sapphire Preferred is travel accident insurance. This protects you and immediate family members in the case of accidental death or loss of speech, sight or hearing during your travels. The benefit amount is $500,000 when the incident happens on a common carrier (think airline, cruise ship, etc.) and $100,000 at all other times during your trip. However, the latter is only paid out if you’re traveling on a round-trip ticket charged to your Chase Sapphire Preferred.

There are some specifics on how this insurance can be used, so make sure to check out our guide to Chase’s travel benefits for more info. We value this benefit at $50 as you’re unlikely to ever have to use it, but it can provide peace of mind when on long trips and adventure travel where you’re more likely to be injured.

Purchase Protection on All Purchases [$100]

All purchases you make with your Sapphire Preferred are protected from damage and loss for 120 days from purchase. If something you charge to the card is stolen or damaged within this window, you can file a claim for reimbursement with your credit card. You can claim up to $500 in reimbursement per claim, and claim up to $50,000 per year. This can be useful when purchasing a new smartphone, headphones, or another small device that’s easily damaged. You can submit a claim up to 90 days from when you lose or damage a purchase.

Nearly all purchases are covered by Chase’s purchase protection, but there are some exclusions. Some of these included pre-owned items, antiques, collectibles, software, motorized vehicles, and things purchased for commercial use or resale. Further, things that “mysteriously disappear with no evidence of a wrongful act” aren’t covered either.

We value this benefit at $100, but again, it can easily be worth more depending on how often you use it. This is especially true if you travel with expensive technology that has a high risk of being broken or stolen.

Extended Warranty on All Purchases [$100]

Even cooler, everything you purchase with your Sapphire Preferred will automatically have its warranty extended by 1 year from when the included warranty expires. You can claim up to $10,000 per warranty claim, and make up to $50,000 in claims per account. All purchases — except motorized vehicles, software, pre-owned items, and items purchased for resale — are eligible for extended warranty so long as it has a standard warranty of 3 years or less.

We value this benefit at $100 as you’re not likely to use this benefit often. However, those that can take advantage of the benefit can receive massive value from the benefit. Just remember that your card must be open and in good standing in order to file an extended warranty claim.

Welcome Bonus [$500+]

Row of Seats on An Airplane
You can use the Chase Sapphire Preferred’s welcome bonus for thousands of dollars in free travel. Image Credit: Omar Prestwich/Unsplash

New Sapphire Preferred cardholders are eligible for a welcome bonus that is earned within the first few months of opening the card. In short, this welcome bonus is a lump sum of points that you’ll earn after meeting a certain spend threshold. We’ve seen the welcome bonus vary over the years, with the highest being 60,000 Ultimate Rewards points — here’s a look at the card’s current welcome bonus:

Since the welcome bonus changes frequently, we won’t give it a valuation here. However, we value Ultimate Rewards points at 1.95 cents per point, so you’re likely to get well over $500 in value from the card’s welcome bonus during your first year of card membership.

Final Thoughts

All in all, the Chase Sapphire Preferred is a solid card, even with its annual fee — especially for points and miles beginners and those new to travel.

In the end, we value all of these benefits at a combined $1,775 without the welcome bonus, and over $2,000 with the welcome bonus. Just remember though: in order to take advantage of the travel and purchase protection benefits, you must charge your itinerary or purchase to the Sapphire Preferred, so make sure to add the card to all of your airline accounts.

Have you had to use any of the Sapphire Preferred’s travel or purchase protections? Let us know your experiences in the comments.


FAQ

Where can I transfer my Ultimate Rewards points?

You can transfer your Ultimate Rewards points to the following travel partners:

Airline partners:

  • Aer Lingus AerClub.
  • British Airways Executive Club.
  • Emirates Skywards®.
  • Flying Blue AIR FRANCE KLM.
  • Iberia Plus.
  • JetBlue TrueBlue.
  • Singapore Airlines KrisFlyer.
  • Southwest Airlines Rapid Rewards®.
  • United MileagePlus®.
  • Virgin Atlantic Flying Club.

Hotel partners:

  • IHG® Rewards Club.
  • Marriott Bonvoy.
  • World of Hyatt®.

Does the Chase Sapphire Preferred have lounge access?

At this time, the Chase Sapphire Preferred does not have lounge access. If this is important to you, consider applying for the Chase Sapphire Reserve® instead.

Does the Chase Sapphire Preferred cover Global Entry application fees?

No, at this time the Chase Sapphire Preferred does not reimburse cardholders for the Global Entry application (or renewal) fee.

Is the Chase Sapphire Preferred worth the $95 annual fee?

Yes, we believe that the Chase Sapphire Preferred is well-worth the $95 annual fee. As outlined in this article, the benefits are worth over $1,775, not including the welcome bonus, giving you plenty of extra value on top of the fee. However, you should do your own research and see if you’ll use these benefits before applying.

Andrew Kunesh

About Andrew Kunesh

Andrew was born and raised in the Chicago suburbs and now splits his time between Chicago and New York City. He’s a lifelong traveler and took his first solo trip to San Francisco at the age of 16. Fast forward a few years, and Andrew now travels just over 100,000 miles a year, with over 25 countries, 10 business class products, and 2 airline statuses (United and Alaska) under his belt.

Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.

7 comments

  1. Very upset with the poor service from Chase Travel.

    • Christine Krzyszton · December 14, 2018 · Reply

      Sorry for your experience, Deborah. I’ve always had great service from them and use their travel site often.

  2. Theresa Cafiero · January 22, 2019 · Reply

    What does travel and emergency assistance services cover?

    • Christine Krzyszton · January 23, 2019 · Reply

      Hi Theresa and thanks for your question. Travel and emergency assistance services provide help when things go wrong while traveling. These services can include help finding an English speaking doctor in a foreign country, finding an English speaking attorney, or help arranging emergency transportation. The cardholder is responsible for paying for the actual services provided but the assistance and referral services are free for cardholders. The card’s Guide to Benefits will have complete details but you can access a summary here: https://www.chase.com/card-benefits/sapphirepreferred/travel

  3. Do you earn points for “all other” purchases…not just travel and dining?

  4. Thank you Brandon, very well written article, I own chase preferred CC and plan to use it to the fullest.

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