The Chase Sapphire Preferred Card offers a variety of rewards and points options, and the benefits are worth the annual fee.
The card offers a few useful benefits at an annual fee that is more reasonable than the Chase Sapphire Reserve (r) or other premium cards.
Does the annual fee for the Chase Sapphire Preferred Card (r) Card make sense?
The Chase Sapphire Preferred Card (r) doesn’t offer the same benefits as more expensive cards such as the Chase Sapphire Reserve(r).
It’s not difficult to justify a $95 annual card fee.
The Chase Sapphire Preferred Card offers several bonus categories for spending and a variety of redemption options via the Chase Ultimate Reward portal, such as point transfers to hotel and airline partners. You can get a lot of value out of the card if you redeem your points to travel and work hard to find the best offers.
Depending on your spending habits, the benefits of this membership can even cover its $95 cost. Even before redeeming your points, you can get a lot of value from the $50 annual hotel credit as well as other spending credits and memberships.
Top benefits of the Chase Sapphire Preferred Card
$50 Annual Hotel Credit
In one hit, the card’s premium benefit can cover more than half of the annual fee. Every year, you’ll receive a statement credit of $50 for the first $50 spent on hotel accommodations through the Chase Ultimate Rewards Portal.
You can’t get this credit if you don’t use the Chase portal. Also, you won’t receive rewards points for that $50 hotel spend. If you book at least one stay in a hotel through Chase each year, this benefit is available to you without much effort.
Get more value for your points
Chase Sapphire Preferred (r) has a lot of earning potential, but it’s not the best way to maximize your points.
When you redeem your points for travel via the Chase Ultimate Reward portal, they are worth 25% more. This means that 10,000 points is worth $125 when redeeming through the Chase Ultimate Rewards portal. Transferring your points to Chase’s many airline and hotel partners will not give you the 25% bonus, but your redemption value could still be higher.
Memberships and spending credits
You can also get great value in other areas. The Chase Sapphire Preferred Card offers the following memberships and credits for spending:
- Instacart+ subscription – Cardholders get six months free Instacart+ with no delivery charges on eligible orders. Instacart+ subscribers can also earn $15 each quarter in statement credits through July 2024.
- DoorDash DashPass Subscription —Cardholders are entitled to a DashPass for a minimum period of one year, with no delivery charges and reduced service fees.
- Gopuff Monthly Statement Credits — Cardholders will receive a $10 credit on their monthly statement for all Gopuff orders until the end of 2023.
Remember that these offers will not cover your entire delivery cost. You can think of these credits as discounts for services that you already use. They are not freebies.
– Travel Insurance and Coverage for Peace of Mind
Chase Sapphire Preferred Card offers a variety of insurances for travel and purchases that you will not find on other premium credit cards.
The card offers a variety of benefits, including trip interruption and cancellation insurance, luggage delay insurance, and purchase protection. These benefits are not used by everyone, but they can be very useful in an emergency.