Pairing The Chase Sapphire Preferred Card With Other Cards
Consumers with other Chase Ultimate Rewards® cards, like the Chase Freedom Flex, will find that the Chase Sapphire Preferred® Card can make their existing cards more valuable. Here’s why: The rewards earned are in the form of Chase Ultimate Rewards® points that you can convert into cash back as well as transfer to other Ultimate Rewards cards, including the Chase Sapphire Preferred® Card. This can give you a 25% to 100% bump in the value of your points, depending on how you use them. See our guide to the Chase Trifecta to learn more about pairing Chase cards.
Learn more about Chase Ultimate Rewards®
Chase Sapphire Preferred Earning Rate
The Sapphire Preferred is a rewarding card for everyday spending thanks to generous category bonuses. Cardmembers earn 5 points per dollar on travel purchased through Chase Ultimate Rewards®, 3 points per dollar on dining, select streaming services, and online grocery purchases , 2 points per dollar on all other travel purchases and 1 point per dollar on all other purchases. Plus, the card earns 5 points per dollar on Lyft rides through Mar. 31, 2025. While these rates are competitive, it gets better: Youll get a 10% point bonus every account anniversary. So if you charge $20,000 in purchases to your Sapphire Preferred Card in 12 months, youd receive 2,000 bonus points. Its a nice way to get rewarded for purchases that dont earn a category bonus. Youll essentially earn a minimum of 1.1 points per dollar spent.
Chase Sapphire Travel Insurance: What It Covers And How To Use It
Last updated Oct. 18, 2022| By Christy Rakoczy
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Whether you’re traveling domestically or abroad, going on a trip is an exciting way to see the world. But it can also be expensive, and the last thing you want is to end up losing your money if something goes wrong with your planned vacation.
The good news is, if you pay for your trip with your Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you should have coverage if your trip is cancelled or delayed or if you experience certain other losses along the way.
There are details you need to be aware of to take advantage of Chase Sapphire travel insurance, though, so it’s important to read the fine print to make certain you’re able to use this important cardholder benefit if something goes wrong. This complete guide to Chase Sapphire insurance will help you understand what you need to know.
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Is The Chase Sapphire Preferred Credit Card For You
Theres a reason the Sapphire Preferred earned a spot on the Forbes Advisor list of best travel cards: The Chase Sapphire Preferred® Card comes stuffed with enough features for a relatively low price that nearly anyone looking to use a credit card to earn travel rewards can see its appeal. If youre looking for ultra-swanky high-end perks, look at a different card and be prepared to pay the price. But for anyone seeking a comfortable way to accrue earnings they can use towards future trips, look no further than the Sapphire Preferred.
To view rates and fees for the American Express® Gold Card please visit this page.
Earn 3x On Restaurants And Up To 5x Travel
The Chase Sapphire Preferred® Card is designed for consumers interested in earning flexible travel rewards. Its tailored to the travel sector, with earning bonuses on travel and dining, along with other travel-related card benefits.
The Chase Sapphire Preferred® Card earns 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases.
Here at ValuePenguin we value Ultimate Rewards points at 2.0 cents each this means that the 2X earning on dining and travel is effectively a 4.0% return on your spending.
While the average rewards earned per $1 spent on your Chase Sapphire Preferred® Card aren’t the highest you can find among similar travel rewards credit card programs, you still enjoy a 2.5% overall return based on typical spending patterns. The transferability of Chase Points to high-value airline and hotel loyalty program partners provides them this added value.
Average rewards earned per $1 spent
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What Happens To My Chase Ultimate Rewards When I Cancel A Trip
When you book travel through the Chase Ultimate Rewards portal, it’s just like booking through a travel agent. Your ability to cancel and get your travel rewards refunded depends on the policies of the hotel or airline you book with. But if you cancel for a reason covered by Chase, then your trip cancellation insurance will kick in and your Ultimate Rewards points will be refunded.
When Would It Make Sense To Pay For A More Expensive Card
For frequent travelers interested in the Chase Ultimate Rewards program, the Chase Sapphire Reserve® may be a better option. Although it has a hefty $550 annual fee, its loaded with perks that help offset that price, including the following:
- $300 annual travel credit ,
- complimentary access to Priority Pass airport lounges and restaurants,
- One-year Lyft Pink membership ,
- $100 Global Entry credit or $85 TSA PreCheck credit
- enhanced travel protections.
Youll also earn 5x Ultimate Rewards points on flights purchased through the Chase travel portal after the $300 annual travel credit is applied. Youll also earn 3X points on all other travel worldwide after the annual travel credit, 3X points on dining at restaurants, including eligible delivery services, takeout and dining out, and 10x points on Chase Dining purchases. Your points are worth 1.5 cents each when redeeming for travel through the Chase travel portal.
Also worth considering is the American Express® Gold Card. With an annual fee of $250 , youll get the following:
- Up to $100 annual credits for airline incidental fees
- Up to $10 monthly credits for select restaurants and food delivery services.
- 4x Membership Rewards points on restaurants, including takeout and delivery
- 4x Membership Rewards points on U.S. grocery store purchases
- 3x Membership Rewards points on air travel booked directly with airlines or through Amex Travel
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Rental Car Collision Damage Waiver
What youll get: If you decline the car rental companys collision insurance coverage and charge the entire rental cost to your card, youll get collision damage waiver for the rental car. This coverage will reimburse you up to the cash value of the car for theft and collision damage for most rental cars in the U.S. and abroad.
Our take: If you can decline the rental car companys insurance coverage and still be covered for up to the cash value of the car, this is a good benefit. Its a bonus that the card offers primary insurance coverage other cards may only offer secondary car rental insurance for use after youve exhausted your personal auto insurance policy.
The Chase Sapphire Preferred Card Is Consistently Ranked As One Of Our Top Credit Cards Due To Its Generous Sign
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In This Article
The Chase Sapphire Preferred® Card is consistently ranked as one of our top credit cards due to its generous sign-up bonus for new cardholders, its reasonable annual fee, and the valuable benefits associated with the card.
But, is the Chase Sapphire Preferred worth it? When would a different card make more sense?
Lets take a look at the benefits of the Chase Sapphire Preferred to see if its worth it.
after you spend $4,000 on purchases in the first 3 months of account opening.
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How Do You Choose The Best Travel Credit Card
The points and travel benefits that you accrue through a travel rewards program are often redeemed through your credit card issuer’s website , or they appear as a statement credit reimbursing you for past purchases you made with your credit card. Points or miles can also be transferred to travel partners — mostly hotels and airlines — at a fluctuating conversion rate, where they can then be used to book a flight or hotel room.
In choosing the best travel credit card, there are a few key factors to consider:
- Annual fees: Most travel rewards programs have annual fees, with some climbing as high as $695, but those fees are usually mitigated by monthly or annual credits.
- Exclusive perks: Some travel rewards card options also grant access to exclusive travel perks, like airline lounges, priority boarding or VIP welcomes at hotels. The value of those perks is subjective and something you’ll have to evaluate based on your needs and wants.
- Foreign transaction fees: The best travel cards don’t make users pay a foreign transaction fee, so that’s not something you have to worry about.
Heres How To Submit A Chase Sapphire Preferred Travel Insurance Claim:
Notify Chase of Your Claim Within 20 Days. Call within 20 days of a covered event.
Fill Out Your Claim Form. Chase is required to send you paperwork to file a claim within 15 days of notification, if you mail your notice. Alternately, you can fill out your claim online at eclaimsline.com.
Submit Your Completed Form Within 90 Days of the Incident. You must include proof of the incident, which could include your travel itinerary, police reports, along with any other requested documents.
Wait up to 60 Days for a Decision. Chase will need to evaluate the validity of your claim. If everything checks out, youll be compensated within 60 days of Chase receiving your claim and supporting documentation.
Exclusions and coverage limits apply to many of these benefits, so make sure to check your Chase Sapphire Preferreds guide to benefits for more details on each type of insurance.
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Delayed Baggage Insurance Coverage
What youll get: If your checked bag is delayed by more than six hours, you can be reimbursed up to $100 per day for essential purchases like toiletries and clothing.
Our take: Depending on whether you check bags or prefer to travel only with carry-ons, this benefit may or may not be valuable to you. But if you do check a bag and its delayed, its good to know that you can pick up some new underwear and a toothbrush and be reimbursed for those expenses.
Trip Delay Insurance Coverage
What youll get: If your eligible travel is delayed by 12 hours or more or requires an overnight stay, you and your family members are covered for additional, unreimbursed expenses of up to $500 per ticket.
Our take: While you may not ever need your trip cancellation and interruption insurance coverage, youll probably appreciate the peace of mind if you travel frequently. If youre ever stuck with an overnight delay, its nice to know that Chase could foot at least some of the bill for a hotel and other necessary expenses.
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Same Access To Ultimate Rewards Transfer Partners
Even though it doesnt offer all the same premium benefits, the Sapphire Preferred offers identical transfer benefits to the Sapphire Reserve card.
No matter which card you choose, youll be able to move your Ultimate Rewards points to the programs 11 airline and three hotel partners at a 1:1 ratio. This includes programs like United MileagePlus, World of Hyatt, Southwest Rapid Rewards and British Airways Executive Club. Chases airline partners give you access to all three of the top alliances , so youll have a strong variety of options for putting your points to use. And youll occasionally see transfer bonuses and like the partners, these are identical across the two cards.
The two cards do, however, differ when it comes to redeeming points through the Chase Ultimate Rewards travel portal, as previously mentioned. With the Sapphire Preferred, youll get 1.25 cents in value per point, while with the Reserve youll get a higher value of 1.5 cents per point.
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What If The Card Benefits Are Insufficient
If you consider the benefits offered by the Chase Sapphire Preferred® Card to be inadequate or you dont have a premium travel credit card that provides travel insurance, consider getting a comprehensive travel insurance policy to protect your trip.
To find a policy in your state, you can either check with an insurance provider that youre already familiar with or check out an insurance comparison site, like SquareMouth.
Insurance comparison sites provide numerous policies to choose from, including travel medical insurance, long-term travel insurance, Cancel For Any Reason coverage and more. Choosing the right plan for you depends on your trip goals and the benefits youd like to have on your vacation.
Despite being an entry level travel rewards card, the Chase Sapphire Preferred® Card offers a solid package of free travel insurance benefits. The card includes trip cancellation, trip interruption, trip delay, baggage delay, lost luggage, auto rental collision coverage and travel accident insurance.
Yes, the Chase Sapphire Preferred® Card offers trip cancellation coverage of $5,000 per trip and $10,000 per each 12-month period. The cardholder and immediate family members are covered by the benefit even if they arent traveling with him/her. If more than one individual is insured under the same card and sustains a loss on the trip, the benefit limit is $10,000 per trip and $20,000 per each 12-month period.
Despite being an entry level travel rewards card, the
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Lost Or Delayed Baggage
Lost LuggageWhen your checked or carry-on luggage is lost or damaged by the common carrier, Chase Sapphire benefits will reimburse you.
Both the Preferred and Reserve cover up to $3,000 per passenger .
Baggage DelayIf your baggage is delayed for over 6 hours after you arrive, you can be reimbursed for essentials, such as toiletries and clothes. Both cards cover up to $100/day for 5 days.
Emergency Evacuation And Transportation
This is one of those benefits that you hope you never have to use, but makes a huge difference if you need it. If you, your spouse/partner, and/or your dependent children experience an injury or illness away from home thats so severe it requires medical transportation or evacuation, Chase will cover up to $100,000 in expenses if you paid for the trip with your Sapphire Reserve card.
The Sapphire Preferred card does not offer this benefit.
Pro tip: If emergency evacuation coverage is important to you, the American Express Platinum Card offers unbeatable coverage: theres no cap on the amount theyll pay, and youre covered just for being a Platinum cardmember regardless of whether you used the card to pay for the trip.
Winner: Sapphire Reserve
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Types Of Chase Sapphire Preferred Travel Insurance
- Rental car insurance: This benefit covers the cardholder for damage to the rental vehicle that results from collision or theft.
- Trip cancellation/interruption insurance: This benefit covers your trip for unforeseen cancellations or for interruptions that cut your trip short. It only applies to pre-paid, non-refundable travel expenses.
- Trip delay insurance: This benefit reimburses you for necessary expenses such as a hotel room, for example if your trip is delayed for 12 hours or more.
- Baggage delay insurance: If your baggage arrives over 6 hours late to the destination, youre covered for essentials that you purchase due to the delay.
- Lost/damaged baggage insurance: If your luggage is lost or stolen, you can get reimbursed for the contents of the luggage up to $3,000.
- Travel accident insurance: This insurance covers cardholders in the event of death or dismemberment during the trip or during transit.
The Key Differentiator Is The Medical Benefits
While there are a few differences when looking at specific coverage value or terms, the key differentiator is the medical benefits. If you are banking on being protected while abroad, it is critical to understand your protections. The Chase Sapphire Preferred does not offer the emergency medical and dental nor the medical evacuation and accident insurance.
The emergency medical and dental benefit is something that you dont find on many credit cards, other than the Chase Sapphire Reserve. While more comprehensive coverages exist that you can purchase through a third party insurance company, Chase includes up to $2,500 for emergency medical or dental services during a covered trip, and up to $75 per day, for up to five days at a hotel if required. This comes with a $50 deductible and includes emergency medical and dental services, hospital room, ambulance, medicines, and supplies. Specifically, this coverage only applies to trips 100+ miles away from your home billing address, which will easily apply to most travel. However, the only caveat here is the emphasis on emergency. Your medical issue must be deemed an emergency by licensed medical personnel, and state that you are unable to wait until you arrive home to address the issue.
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