8 Best Benefits of the Chase Sapphire Preferred Card [2024]

For anyone venturing into the world of points and miles, the Chase Sapphire Preferred card is often my go-to recommendation—and for good reason.

It offers a fantastic combination of flexibility, earning potential, and valuable perks that make it one of the best options for both beginners and seasoned travelers alike.

Let’s break down the standout benefits of this powerhouse card.

1. Great Welcome Bonus

One of the most attractive perks of the Chase Sapphire Preferred is its welcome bonus, which currently is: Earn 60,000 bonus points and a $300 Chase Travel credit after spending $4,000 on purchases in the first 3 months from account opening. Whether you’re eyeing a luxury hotel stay or a round-trip flight, these points can give your travel plans a serious boost.

2. 25% Bonus on Chase Travel Redemptions

When redeeming your points for travel via the Chase Travel portal, you’ll get 25% more value. In practical terms, this means those 60,000 bonus points would be worth $750 toward flights, hotels, rental cars, or experiences booked directly through Chase. That said, while those booking option provides tons of flexibility, its is usually not the way to get the most value out of your points.

3. Flexible Point Transfers to Chase Travel Partners

For those who like to squeeze the most value out of their points, the Chase Sapphire Preferred’s ability to transfer points at a 1:1 ratio to a list of well-known airline and hotel loyalty programs is a game-changer. Some of the most valuable transfer partners include:

• Air Canada Aeroplan
• Air France-KLM Flying Blue
• Virgin Atlantic Flying Club
• World of Hyatt

Using the Chase transfer partners can often net you far better redemptions at far fewer points than booking through the Chase Travel portal. For instance, you can book business class flights to Europe through the Air France-KLM Flying Blue program for as low as 50,000 points! 

4. Earn 2x to 5x Points on Great Bonus Categories

With your Chase Sapphire Preferred card, you’ll earn points at the following rates:

• 5x points on travel purchased through Chase Travel
• 3x points on online grocery purchases, select streaming services, and dining
• 2x points on all other travel purchases
• 1x points on all other eligible purchases

This offers you multiple ways to earn bonus points on daily purchases to help you get closer to your next award booking.

5. $50 Annual Chase Travel Hotel Credit

Each year, on your account anniversary, you’ll receive a $50 statement credit after booking a hotel stay Chase Travel. Assuming you’d book at least 1 hotel stay each year, this effectively drops the annual fee of the card down to $45.

6. Travel and Purchase Protections

Here is how you Chase Sapphire Preferred Card helps keep you covered.

• Lost Luggage Insurance — Your checked and/or carry-on baggage, and its contents, are covered due to physical loss, theft, or damage up to a maximum of $3,000 per person.
• Baggage Delay Insurance — If your checked baggage is delayed more than 6 hours, you’ll receive $100 in reimbursements for essential items per day for up to 5 days.
• Trip Delay Insurance — If your flight is delayed by 12 hours or more, you can receive reimbursements of up to $500 per toward items like lodging, food, etc.
• Trip Cancellation and Interruption Insurance — If you need to cancel a trip due to illness, severe weather, or any other covered circumstance, you’ll receive a reimbursement of up to $10,000 per person and $20,000 per trip in non-refundable travel expenses if you need to cancel your trip or end it early.
• Travel Accident Insurance — In the case of accidental death or loss of speech, sight, or hearing during your travels, you can receive up to $500,000 when the incident happens on a common carrier (airline, cruise ship, etc.) or $100,000 at any other part of your trip.
• Purchase Protection — If an item you purchased with your card is stolen or accidentally damaged within 120 days from the date of purchase, you can receive a replacement, repair, or reimbursement for your item at $500 per claim and $50,000 per year.
• Extend Warranty Protection — Items purchased with your card with extended warranties of 3 years or less are extended by 1 additional year.
• No Foreign Transaction Fees — Use your card overseas to keep earning points on all of your transactions without paying any foreign transaction fees.

7. 10% Anniversary Earning Bonus

Each year, you will earn a 10% anniversary point bonus based on total dollar amount of purchases you made in the previous year. For instance, if you spend $30,000 on your Chase Sapphire Preffered card in the previous cardmember year, Chase will deposit 3,000 bonus points into your account.

8. Complimentary DoorDash DashPass Subscription

Linking your card to your DashPass account gets you a complimentary DashPass subscription, which offers free food delivery and discounted service fees on orders of $12 or more. Usually, DoorDash charges $9.99 a month for this subscription, so it is great to get it complimentary with your Chase Sapphire Preferred card.

Final Thoughts

For a modest $95 annual fee, the Chase Sapphire Preferred card packs in a ton of value. Between the welcome bonus, great bonus categories, flexible point transfer options, and numerous benefits and travel protections, this card is a must-have for anyone serious about traveling with points and miles.

If you’d like to add the Chase Sapphire Preferred card to your wallet, and you want to support my work, you can apply for the card through the links on my best travel credit cards page.

If you’re not sure which travel rewards credit card is right for you, fill out my credit card consultation form. The service is free and designed to pair you with the card that is best suited for you.