CNN Underscored reviews financial products such as credit cards and bank accounts based on their overall value. We may receive a commission through the LendingTree affiliate network if you apply and are approved for a card, but our reporting is always independent and objective.
The Chase Sapphire Preferred® Card is frequently considered the best first travel credit card, thanks to its generous rewards and reasonable $95 annual fee. It all starts with a sign-up bonus offer you’ve probably heard about: 60,000 bonus points when you spend $4,000 within three months of opening the account. Those bonus points are worth at least $750 in travel when you redeem them through Chase, and potentially even more when you transfer them to Chase’s 14 airline and hotel partners.
But beyond the rewards, there are quite a few other perks on the card that make the Chase Sapphire Preferred a stellar deal. Let’s take a look at seven of our favorite lesser-known benefits, all of which are complimentary for Sapphire Preferred card holders.
1. Trip cancellation and interruption insurance Imagine you’re on a trip that’s cancelled or cut short by sickness or severe weather, and you’re suddenly out the cash you spent. If you paid with your Chase Sapphire Preferred, you’d be eligible to claim a reimbursement for your losses, thanks to the card’s trip cancellation and interruption coverage.
This Chase Sapphire Preferred coverage is good for nonrefundable travel expenses like airfare, tours and hotels, if your trip is halted or canceled for a covered reason. You have to pay for the trip with the card in order to be covered, but you can claim up to $10,000 in losses per person and up to $20,000 per trip.
Note that when it comes to coronavirus, you can use this coverage if you get sick from the virus or are required to quarantine as a result of a government order. But it won’t cover you if you’re just hoping to cancel your trip as a precautionary measure.
Apply for the Chase Sapphire Preferred and get its complimentary travel insurance coverage.
Chase Sapphire Preferred card holders also qualify for primary auto rental coverage, which is a standout benefit considering most travel credit cards offer secondary auto rental coverage at best.
What’s the difference? Secondary coverage means that if you have an accident with your rental vehicle, you’ll first need to submit a claim to your personal auto insurance carrier for the damage, with your credit card only coming in to cover any remaining costs afterward, such as a deductible. But primary coverage means you can submit the entire claim directly to your credit card company, and avoid involving your personal auto insurance policy entirely.
This primary auto coverage on the Chase Sapphire Preferred is good for reimbursement of collision damage or theft up to the cash value of the vehicle, and it’s applicable to eligible rental cars and within eligible countries when you pay the rental fee with your card. You then just need to decline the collision damage waiver offered by the car rental company when you rent the vehicle.
3. Baggage delay and lost luggage coverage Baggage delay coverage is another standard benefit of the Chase Sapphire Preferred, and it’s one that can come in handy if your luggage is temporarily lost by your airline and you have to buy toiletries or clothing. This coverage is good for up to $100 per day for up to five days, and it applies when your luggage is delayed for six hours or longer.
But what if your lost luggage never reappears? You also get separate coverage for that. With lost luggage reimbursement on the Chase Sapphire Preferred, you get up to $3,000 in coverage per passenger if your luggage is damaged or lost by your airline or another common carrier.
Protect yourself against checked baggage problems with the Chase Sapphire Preferred.
Travel can be unpredictable, and there are instances where a trip delay can lead to unanticipated travel costs. For example, a flight delay could mean you have to pay for extra airport meals or even an overnight hotel stay if you’re stuck in a connecting city.
Fortunately, the Chase Sapphire Preferred has you covered. If your trip is delayed by more than 12 hours and you incur additional expenses as a result, the card will reimburse you for your unanticipated expenses, up to $500 per ticket when you pay the common carrier fare with your credit card.
Now, if you’re looking for even better protection, the Sapphire Preferred’s “big brother” card, the Chase Sapphire Reserve®, comes with trip delay coverage that kicks in starting at a six-hour delay instead of 12 hours. But the Sapphire Reserve has a much higher $550 annual fee, so you’d only want to consider it if the card’s other perks, in addition to its travel protections, are worth the cost.
Even when you’re not traveling, the Chase Sapphire Preferred comes with benefits that you can take advantage of while you’re at home. This includes purchase prot
7 lesser-known benefits you should be using on the Chase Sapphire Preferred credit card
Go To The SourceRead More