How the Chase Sapphire Preferred Card Can Pay for Its Annual Fee 10 Times Over
KEY POINTS
- The $95 annual fee might be a chunk of change, but utilizing the benefits pays for it in spades.
- The welcome bonus alone is worth over $900.
- Take advantage of partnerships with Instacart, Lyft, DoorDash, and Peloton and you'll score $150 in credit statements.
The Chase Sapphire Preferred® Card stands out in the crowded field of rewards credit cards, not just for its sleek design but for its ability to transform its $95 annual fee into an investment that pays dividends. This isn't just a card; it's a passport to a realm where spending smartly doesn't just save money -- it earns it. From an impressive welcome bonus to exclusive partnership benefits, let's dive into how this card can indeed pay for its annual fee 10 times over, making it a financial powerhouse nestled in your wallet.
Chase Sapphire Preferred® Card
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On Chase's Secure Website.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= Poor
On Chase's Secure Website.
Good/Excellent (670-850)
Intro APR N/A
Purchases: N/A
Balance Transfers: N/A
Regular APR
21.49%-28.49% Variable
Rewards Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases
Annual Fee N/A
$95
Welcome Offer Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.
75,000 bonus points
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The enormous welcome bonus (worth over $900), bonus points for travel and dining, and $50 annual hotel credit alone make this card well worth the $95 annual fee. What really stands out are the rare travel protections such as trip delay reimbursement, lost luggage reimbursement, and trip cancellation/interruption insurance. It’s one of the only low annual fee cards we’ve seen offer those protections. Read Full Review
-
- Big sign-up bonus
- Travel rewards
- Dining rewards
- Flexible travel points
- Consumer and travel protections
- Annual fee
- Limited-time perks
-
- Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 75,000 points are worth $937.50 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
- Member FDIC
The welcome bonus ($750)
Right from the start, the Chase Sapphire Preferred® Card sets itself apart with an enticing welcome offer. Imagine this: you sign up, and after spending $4,000 in the first 3 months, you're rewarded with 75,000 bonus points (in the form of Chase Ultimate Rewards points). In the Chase universe, this translates to over $900 toward travel when redeemed through the Chase Ultimate Rewards Travel Portal. It's not just a bonus; it's a ticket to explore, unwind, or adventure. This initial boost not only makes the card's $95 annual fee seem negligible, but also puts you significantly ahead in the game of rewards.
Hotel reimbursement ($50)
On each account anniversary, the card sweetens the deal by offering up to $50 in statement credits for hotel stays purchased through Chase Travel. This benefit directly reduces your travel costs, further diminishing the impact of the annual fee and enhancing your travel experiences without extra out-of-pocket expenses.
Partner spending ($150)
The Chase Sapphire Preferred® Card doesn't stop at travel. It extends its reach into your daily life with over $150 in additional partnership benefit value. Here's how:
- DoorDash DashPass subscription: Complimentary DashPass membership (worth $96/year) grants you $0 delivery fees and lower service fees on eligible orders. Activate it by Dec. 31, 2024, to enjoy a year of savings on your favorite foods.
- Instacart+ membership: Receive six months of complimentary Instacart+ membership (a $60 value) when activated by July 31, 2024. It brings groceries to your doorstep for free, and the membership auto-renews at its regular price if you'd like to keep using it for ongoing savings.
- Quarterly Instacart credit: As an Instacart+ member, you're eligible for up to $15 in statement credits each quarter through July 2024, adding to your savings pile.
- 5X points on Peloton purchases: Earn 5X total points on Peloton equipment and accessory purchases over $150 through March 31, 2025, turning your fitness goals into rewards.
- 5X total points on Lyft: Score 5X total points on all Lyft rides through March 31, 2025, boosting your points balance with every trip.
When you break down the benefits, it's clear that the Chase Sapphire Preferred® Card is not just another piece of plastic, but a financial powerhouse aimed at maximizing your rewards and savings. Think about it: that $95 annual fee? It practically vanishes when you tally up all the high-value perks you get.
On Chase's Secure Website.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= Poor
On Chase's Secure Website.
Good/Excellent (670-850)
Intro APR N/A
Purchases: N/A
Balance Transfers: N/A
Regular APR
21.49%-28.49% Variable
Rewards Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases
Annual Fee N/A
$95
Welcome Offer Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.
75,000 bonus points
-
The enormous welcome bonus (worth over $900), bonus points for travel and dining, and $50 annual hotel credit alone make this card well worth the $95 annual fee. What really stands out are the rare travel protections such as trip delay reimbursement, lost luggage reimbursement, and trip cancellation/interruption insurance. It’s one of the only low annual fee cards we’ve seen offer those protections. Read Full Review
-
- Big sign-up bonus
- Travel rewards
- Dining rewards
- Flexible travel points
- Consumer and travel protections
- Annual fee
- Limited-time perks
-
- Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 75,000 points are worth $937.50 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
- Member FDIC
From snagging that juicy sign-up bonus and cashing in on the travel credits each year to taking full advantage of all those partner perks with DashPass, Instacart, Peloton, and Lyft -- this card is on a mission to turn what you spend every day into a treasure trove of savings and rewards. It's pretty much proof that if you're savvy with how you spend, your financial tools can seriously work wonders for you.
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