10 Valuable Benefits of the Chase Sapphire Preferred® Card

Airport Terminal Chase Sapphire Preferred Benefits

The Chase Sapphire Preferred® Card continues to be one of the most popular travel reward credit cards out there. With an easy to use rewards program through Chase Ultimate Rewards and worldwide acceptance with Visa, it’s common to see this metal card in every frequent traveler’s wallet.

While this card offers some excellent opportunities to earn a ton of Chase Ultimate Reward points if you like to travel, there are 10 useful benefits that you may not be aware of which add extra protection for your purchases, as well as additional insurance for your trips and everyday purchases.

This card offers an easy way to earn points while traveling by giving you 2X points on all travel related purchases including airfare, hotels, taxis, Uber and more without any limitations like some of the other travel rewards cards out there.

It also provides the opportunity to earn 2X points on restaurants and dining wherever you are in the world, and again without any limitations. It also offers zero foreign transaction fees and an embedded chip for enhanced security and acceptance worldwide.

Another highlight is the ability to earn Chase Ultimate Reward points, which are one of the most valuable and flexible travel reward programs available, giving you the opportunity to transfer to select air and hotel loyalty programs at a rate of 1 to 1.

Chase Ultimate Reward points can also be used for statement credits, gifts cards, and a wide variety of other products through the Chase shopping portal, but that only offers a value of 1 cent per point, which is definitely not the best use of this valuable point currency.

Instead, you have the ability to book travel through the Chase travel center which will increase the value of your points by 25%, giving you 1.25 cents per point, providing unlimited flexibility in your travel planning with no blackout dates or space restrictions.

Bottom Line: We value Chase Ultimate Reward points at 1.9 cents per point, where the most value comes from the option to transfer your points directly to the select air and hotel loyalty programs 1 to 1, but you also have the options of booking travel directly through the Chase travel center at a value of 1.25 cents per point or redeem for credits or other products at a value of 1 cent per point.

While the Chase Sapphire Preferred® Card has been hailed as one of the best travel point earning credit cards for all frequent travelers, there are also 10 significant benefits that offer additional protections for your travels and purchases that you need to know about. All of the benefits of this card can be found in the Guide to Benefits.

Trip Protection

When making travel reservations, a lot of the time those purchases like airfare and hotels come with a lot of restrictions, and often times come with nonrefundable payments in order to secure your reservation. However, nonrefundable travel purchases made with the Chase Sapphire Preferred® card limit some of your risks when making those purchases by offering lots of extra travel protection.

Trip Cancellation / Trip Interruption Insurance

When booking airfare, hotels, vacation packages and other travel related activities, this card offers insurance of up to $10,000 if your trip is canceled or interrupted due to severe weather, the health of you or an immediate family and other covered situations. This benefit can offer a lot of reassurance since you know your trip is protected if your trip is interrupted or has to be canceled.

If for example, you had a vacation planned for the whole family to visit the grandparents, but the kids came down with the flu the day before you are set to take off, then the entire families travel arrangements would be protected under this benefit. You would just need to provide enough documentation, like a doctor’s note, to take advantage of this additional insurance.

Now there is little to worry about when making those nonrefundable travel plans with this great benefit since you know your travel related purchases are insured if certain unforeseen situations occur that prevent you from taking that trip.

Cancelled Delayed Flight Board
If your flight is canceled or significantly delayed, but sure to take advantage of the Trip Cancellation / Trip Interruption coverage. Photo Courtsey of Shutterstock.

Trip Delay Reimbursement

Your trip is also protected if it is delayed for up to 12 hours or requires an overnight stay for reasonable expenses of up to $500 made using your card. These expenses would include lodging, meals and other personal items needed during your delay.

This means if you had the last flight out for the evening and you were rebooked for the first flight the next morning, you would be reimbursed if you had to pay for certain expenses out of pocket, like a hotel and dinner near the airport, while using your Chase Sapphire Preferred® card.

Lost Luggage Reimbursement

Luggage is also protected when you travel. If your luggage is lost by the airline you are entitled to up to $3,000 per passenger to cover the cost of what was lost. This benefit requires a good amount of documentation of what was in your luggage in order for you to be compensated the full amount of the reimbursement benefit, so it is always wise to keep receipts of that expensive new piece of luggage and all the valuables inside.

Baggage Claim Area Lost Delayed Luggage
Is your luggage lost or delayed? Be sure to take advantage of the coverage this card offers! Photo Courtesy of Shutterstock

Baggage Delay Insurance

If your luggage is delayed for 6 hours or more, you can be reimbursed for reasonable expenses like clothes and other personal items of up to $100 a day for up to 5 days. This means if you just arrived at your beach vacation destination and your luggage was delayed and won’t arrive until the next day, you can spend up to $100 for a new swimsuit and other clothing to get you by.

Bottom Line: Your travel is protected for up to: $10,000 if canceled or interrupted under certain circumstances, $500 for delays of 12+ hours or overnight, and $3,000 for lost luggage or $100 a day for up to 5 days for delayed luggage.

Protection on the road:

Car rental expenses can add up quickly before you even step foot in the actual car. When making your reservation, you are usually offered a wide variety of options that can significantly increase the cost of what you thought would be a relatively affordable car rental.

Car rental companies are quick to encourage you to add extra insurance protection, roadside assistance, and even flat gas rates, but did you know that sometimes your credit card offers some of those as benefits just by being a cardmember and using your card to pay for your rental?

Primary Collision Damage Waiver

One of the most common insurance offerings, which is also sometimes a requirement, is the Auto Collision Damage Waiver or CDW, which is an extra daily fee which can really increase the cost of your car rental. However, car rentals made entirely with the Chase Sapphire Preferred® card are covered for the CDW when you decline to purchase that option from the car rental company.

The CDW benefit provides reimbursement for damage or theft of the vehicle for up to the actual cash value of most rental vehicles. The major perk of the card is that it offers this benefit as primary coverage, which means you do not need to make a claim with your personal insurance first, while other credit cards mostly offer secondary coverage, which only covers anything above what your personal insurance will cover first.

Car Protections with Chase Sapphire Preferred
Relax when you’re on the road knowing this card offers primary CDW coverage and Roadside Dispatch to keep you moving safely. Photo Courtesy of Shutterstock.

Roadside Dispatch

Cardmembers also have access to a Roadside Dispatch program, which requires no membership and you only pay for the service when you need it. Services range from towing your vehicle up to 5 miles, changing a tire, lockout assistance, and other things for just $59.95 per service call.

Bottom Line: Decline the CDW option from car rental companies and use your card for the entire reservation for primary coverage of damage or theft of certain car rentals and don’t worry about roadside assistance memberships since you can use the Roadside Dispatch program when you run out of gas for just $59.95 per service call.

Shop with Confidence:

Shopping can be stressful. You are confronted with choices like if you need to buy the extra extended warranty for a new iPad, or questions like if you are getting the best price. You can rest assured that your important purchases are protected when using the Chase Sapphire Preferred® card.

Extended Warranty

Purchases made with this card that comes with a manufacturer’s warranty of 3 years or less will have an additional one year of protection with the same terms as the original warranty to cover up to $10,000 of your purchase, but not more than the original purchase price.

This means that if you purchased a brand new flat screen TV with your card that came with a 1 year warranty, when suddenly after right after you start the second football season with that same TV you bought a year a half ago goes out, your purchase is still protected thanks to the Extended Warranty Protection benefit offered on this card.

Broken Television Insured Chase Sapphire Preferred
Shop with confidence knowing your purchases are protected and get a 1 year extended warranty on purchases made with your card. Photo Courtesy of Shutterstock.

Price Protection

You can always shop with the confidence that you are always getting the best price when using the Chase Sapphire Preferred® card because it comes with Price Protection, which will reimburse you the difference if you find a cheaper advertised price, in print or online, within 90 days of your original purchase up to $500.

While you do have to keep an eye out for a cheaper advertised price, this benefit could come in handy when finding out that your favorite travel accessories, like that digital camera you just bought for your upcoming trip, goes on sale and you get an unexpected boost to your travel fund.

Purchase Protection

Purchase Protection insures your purchases made with this card for 120 days from accidental damage, theft or unintended separation from the item for a value up to $500. This benefit is great for mid-level priced electronics, like a new iPad or set of headphones, that could be easily misplaced or damaged since you are constantly bringing them everywhere.

An example would be if you recently purchased a new set of wireless headphones and accidently left them on a plane, or you accidently dropped them in the pool on your last trip, you could get reimbursed for your purchase up to $500 with proper documentation.

Return Protection

This card also comes with Return Protection, where if the original store will not accept a return on eligible items purchased with your card within 90 days, then you will be reimbursed for the item for up to $500.

Bottom Line: This card extends the life of your manufacturer’s warranty for one year, it will match the best price of your purchase for 90 days, and it will protect it from accidental damage or theft for 120 days and guarantee your satisfaction with return protection for 90 days for up to $500 per item.

Overall

The Chase Sapphire Preferred® card is most known for its great point earning potential on travel related purchases. It is good to know that your travel purchases made with this popular travel rewards card are also coming with some of the best travel-related protections credit cards offer.

Another good thing to know is that the terms and conditions of all of these benefits also specifically state that if you used points from your rewards account and put a portion of the charges to your card, your trips and purchases will come with the same protections as if you paid the full amount on your card.

Hot Tip: Use your card to pay for any additional charges on your award bookings to make sure they come with all the benefits and protections the Chase Sapphire Preferred® offers.

This card is the go-to travel rewards card not only for the flexible reward options through Chase Ultimate Rewards but also because of the travel related protections that come with using the card. All of your purchases, including your latest travel gadgets, will also come with lots of extra protection to ensure your utmost satisfaction and keep your valuables safe and in working order.

 

Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card