Last Updated on January 31, 2021 by Elizabeth
Looking for a great starter credit card that will deliver a nice array of travel benefits? Few credit cards garner as much enthusiasm as the Chase Sapphire Preferred Card. Here’s why many experts say it is the one they’d recommend to friends and family.
Chase Sapphire Preferred Card Benefits
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Primary coverage for rental cars.
If you’re renting a car, the most valuable credit card benefit is primary coverage for car rental insurance. That lets you decline the CDW at the rental car counter every time. Most credit cards offer secondary coverage. This kicks in only after you’ve depleted your personal auto insurance coverage. The beauty of primary coverage is that if you damage your rental car, you won’t have to file a claim with your auto insurance. That means your auto insurance company never finds out. The upshot is there’s zero chance that your premium will go up.
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Chase Sapphire Preferred offers primary coverage for damages on “most rental vehicles” under contracts that do not exceed 31 days.
To take advantage of this benefit, you must:
- Decline the rental company’s collision damage waiver (CDW/LDW).
- Be the primary renter of the car.
- Pay for the car in full with your Chase Sapphire Preferred card.
Free coverage extension for other drivers.
When you use the Chase Sapphire Preferred to pay for your rental car, coverage extends to any additional driver listed on the rental agreement. It also extends to other authorized users on your Chase Sapphire Preferred card, and additional drivers listed on the authorized user rental agreement.
Lots of ways to earn points fast.
With the Chase Sapphire Preferred Card, you earn two points for every dollar you spend on travel and dining and one point per dollar on everything else. The signup bonus is 60,000 points when you spend $4,000 on purchases in the first three months. That’s worth up to $750 toward travel when you redeem through Chase Ultimate Rewards.
Lots of travel insurance benefits.
Pay for travel with this card and trip cancellation/trip interruption insurance is included. The limit is $10,000 on prepaid, nonrefundable travel expenses for covered situations. There’s also baggage delay insurance when airline luggage is delayed over six hours, up to $100 a day for five days. You also get trip delay reimbursement. That means if a trip is delayed by more than 12 hours or requires an overnight stay, you are covered for unreimbursed expenses like meals and lodging, up to $500 per ticket.
No foreign transaction fee.
When you use this card outside the country, spending is calculated in U.S. dollars without a fee. This benefit can really add up over the course of a week-long trip.
Learn How to Apply for a Chase Sapphire Preferred Card
The Chase Sapphire Preferred Card is a premium card with an annual fee is $95. The APR is 18.24 to 25.24 percent, depending on your credit history.
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You can learn how to apply for the Chase Sapphire Preferred Card here.
File a Rental Car Claim with Chase Sapphire Preferred
If your rental car is damaged or stolen, it is pretty straightforward to file a claim. It’s key to keep in mind a few deadlines. To start the process, call the number on the back of your card.
- Within 60 days: Chase suggests notifying the benefit administrator immediately about any incidents. You should do this no more than 60 days after the issue arises.
- Within 100 days: Chase will then send a claim form. You must return it within 100 days of the accident or theft.
- Inside a year: Any additional documentation must be sent to Chase within 365 days.