Do Chase Sapphire Credit Cards Cover Turo Car Rentals? [2022]
Turo is turning out to be one of the most convenient and (sometimes) cost efficient ways to go about renting a car when traveling.
For those of us who often rely on rental coverage from a Chase Sapphire credit card, a big question looms of whether or not you can get coverage with a Turo rental.
In this article, I’ll take a look at whether or not you can get rental car coverage with a Chase Sapphire Preferred or Chase Sapphire Reserve. I’ll also present you with some alternative options including pricing options that you might have to go with when booking with Turo.
Do Chase Sapphire Credit Cards cover Turo rentals?
No, you most likely will NOT get rental car coverage with Chase Sapphire credit cards because Turo is not considered (by Chase) to be a rental agency and instead is viewed as a peer to peer car service.
Tip: Use the free app WalletFlo to help you travel the world for free by finding the best travel credit cards and promotions!
Chase Sapphire Preferred
First, let’s take a look at the Chase Sapphire Preferred benefits.
The Auto Rental Collision Damage Waiver benefit provides reimbursement for damages caused by theft or collision up to the Actual Cash Value of most rented cars.
It’s one of the most significant credit card benefits because it offers primary coverage which can allow you to bypass involving your car insurance and save you money when renting cars.
The Sapphire Preferred has quite a few exclusions where you can’t get coverage. It includes instances like damage caused by going off road and renting high-end luxury vehicles (Bentley, Corvette, Ferrari, Jaguar, Lamborghini, etc.).
(Some people use Turo to rent these fancy cars so it’s something to be aware of.)
But one of the exclusions explicitly mentioned is “Vehicles that are not rented from a Rental Agency.”
The terms go on to define a rental agency as:
a commercial rental company licensed under the laws of the applicable jurisdiction and whose primary business is renting automobiles.
Turo is usually/always not considered a rental agency so this means that your coverage would not apply when using the Chase Sapphire Preferred to book with Turo. (This was also confirmed by a representative that I later spoke with.) So things are pretty clear cut with the Chase Sapphire Preferred but what about the Reserve?
Now, let’s take a look at the Chase Sapphire Reserve benefits.
A lot of people don’t know this but the terms for primary rental car coverage for the Chase Sapphire Reserve are a little bit different from the Sapphire Preferred. And this makes sense because it’s a more premium card.
Unlike the Sapphire Preferred which refers to the actual cash value of vehicles and excludes high-end vehicles, the Reserve states that it will reimburse you for up to $75,000 for most vehicles but does have exclusions for vehicles like:
antique automobiles; cargo vans; vehicles that have an open cargo bed; trucks; motorcycles, mopeds, and motorbikes; limousines; and recreational vehicles.
Although the terms did not always have this language, they now show exclusions for “Vehicles that are not rented from a Rental Agency.”
The terms also exclude “Leases and mini leases” and so it makes me wonder if a Turo agreement could be considered a “mini lease” although that does not seem likely.
And just to make sure, I called the benefit services administrator to get clarification and they made it very clear to me that Turo rentals would not be covered by the Chase Sapphire Reserve or Preferred.
They stated that in order to get coverage you would have to rent from a commercially licensed rental car agency. They also mentioned that any peer-to-peer rentals (which is exactly what Turo reportedly is) would not allow for coverage.
While all of that makes sense, I find it really curious that the Sapphire Reserve terms do not make more of an effort to specifically talk about peer to peer rentals but oh well.
In finding that Turo is a rental car company, the court noted the similarities with Turo’s model compared to incumbent car rental companies: Turo’s internet-based platform allows customers to rent specific passenger vehicles; Turo receives a percentage of the proceeds from each rental transaction; Turo sells insurance
Such findings could have consequences for rental car coverage in the future but for now it doesn’t seem to be enough to get you coverage with your Sapphire cards.
Alternatives
Just because you can’t get coverage with a Chase card, that does not mean that you cannot get coverage for your Turo rental.
First, you should consider contacting your car insurance provider and inquire with him about your policy and how it applies to peer to peer rentals.
In our case, we had USAA and they verified with us that we would have coverage in the event of some sort of incident.
You can also look into buying coverage via Turo which can increase your rental cost anywhere from $20+ a day to $70.
They offer three different plans (Minimum, Standard or Premier) and you can see the pricing details below. (note that these are subject to change).
You can also choose to decline the insurance all together.
Premier plan
Cost is 65% to 100% of the trip price; minimum charge of $14/day.
Standard plan
Cost is 40% of the trip price; minimum charge of $12/day.
Minimum plan
Cost is 18% of the trip price when the trip price is more than $250; minimum charge of $10/day.
Cost is 25% of the trip price when the trip price is less than $250; minimum charge of $10/day.
Final word
While the Sapphire Reserve and the Sapphire Preferred provide great rental car coverage; unfortunately, you cannot get coverage for a rental with Turo.
That is because Turo would not be considered a commercially licensed rental car agency and instead it would be classified under a peer to peer car service.
It’s possible that something might change down the line but for now you’ll need to consider the alternative options for coverage.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Chase Reconsideration Line: Tips If Denied (Phone Number) [2022]
If you’re denied or not automatically approved for a Chase credit card, you are probably thinking about calling the Chase reconsideration line.
But before you ever give them a call, read this article!
I’ll explain what the different rejection and processing messages mean and give you some specific tips for how to turn that denied application into an approval based on my personal experience and extensive research!
The Chase reconsideration line is a special phone line you call that offers you a chance to persuade a Chase representative to overturn a rejection or denied credit card application. The phone number is 1 (800) 453-9719 and the hours of operation are usually:
7am to 10pm EST Monday through Friday
8am to 1pm EST Saturday
9am to 9pm EST on Sunday
You should call this line for all personal credit cards like the Chase Sapphire Reserve, Chase Sapphire Preferred, Chase Freedom, Chase Southwest Premier Card, etc.
But if you’re calling reconsideration for a business credit card like the Chase Ink Preferred or Chase Ink Unlimited then you’ll want to call in to the business reconsideration line.
The Chase business reconsideration line phone number is 1-800-453-9719 and it is usually open 1pm to 10pm Monday through Friday.
See my special tips for business calls further below.
Do I always need to call reconsideration?
You don’t always need to call reconsideration. Depending on the message that you receive after submitting your application, you may or may not need to call reconsideration.
I’ll walk you through some of the messages that you might receive whenever your credit card application is not automatically approved and give you some guidance on what route you should take based on the message you receive.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Chase application messages
Here are the different types of application status messages that you might get from Chase if you’re not instantly approved for a credit card application.
We’ll notify you “within the next 30 days” message
If your Chase credit card application is not auto approved, you will almost certainly get a message via email stating that you will be notified “within the next 30 days” about the decision of your application. It should look something like this.
The Chase 30 day message — not necessarily a bad thing.
This message just means that your credit card application is being processed — it does not mean you will be rejected or even that you have to call in to reconsideration. Basically, your credit card application is still in limbo.
Chase automated status line
If you receive this 30 day message, you should try calling in to the automated status line at: 800-432-3117.
Note that some times when you call to check on your status they might transfer you to a live human being who will review your application. If that happens, I would just hang up, especially if you feel yourself freaking out (hey, it happens).
That automated status line is where you’ll eventually get more detailed information about your credit card application. Your status could be updated in a matter of hours or it could take a couple of weeks, so try not to drive yourself insane with checking it every minute of every hour.
There are a few different messages you might receive regarding your application status and they can signal that very different outcomes are on their way.
Another 30 day message
If you call in to the automatic status checker and hear that you’ll be notified within 30 days, that just means that your application is still in limbo. I would recommend you keep checking every day or every other day. At this point, you still don’t have to call Chase reconsideration.
Two week message
If the automatic status checker changes and tells you that you’ll be notified in two weeks, this almost always means that you will be approved!
Getting the two week message usually leads to this!
7 to 10 day message
If the automatic status checker changes and tells you that you’ll be notified in 7 to 10 days, this almost always means that you will be denied. At this point, you may want to go ahead and call into Chase reconsideration line at: 1 (800) 453-9719.
You don’t have to call recon at that point, though. Some people still get approved even after receiving the 7 to 10 day message (usually by verifying their ID), so you could wait until you’re officially denied before calling in.
Calling into the Chase reconsideration line
There are a few things you can do to prepare for a Chase reconsideration line call.
If you’re just applying for a personal credit card, this will be easier than if you were calling about a business credit card, but you should still be prepared.
This is something you might do before you even apply for a Chase credit card in order to avoid reconsideration. It’s generally recommended for people who have a lot of inquiries because those people will probably not be auto-approved.
What you do is lower your credit limit on a given Chase credit card or even on multiple Chase cards so that you free up some credit line for a new card. This will typically be around $5,000 to $10,000 but could vary depending on your credit limits.
Freeing up credit lines might increase the odds that Chase will auto-approve you since they already approved you in the past for that same amount of credit. This doesn’t always work so you need to consider how lowering your credit lines will affect your utilization.
Check on the Chase credit card application rules
This is yet another thing you absolutely should do before you apply for a Chase credit card. You need to know about all of the different Chase credit card application rules like 5/24, 2/30, 24 month rule, etc. But even if you’ve already applied, it’s a good idea to review them to see where you may have gone wrong. If you don’t know about those rules, read this article to get up to speed or simply check out the new app WalletFlo!
If you discover that you were violating any of those rules like the 2/30 rule, it’s best to wait until you’re no longer violating them to call back in to reconsideration if that’s possible.
Put spend on your other credit cards
Before you go into a reconsideration phone call (with any bank) you should try to put spend on your other credit cards issued by them. It looks really bad in recon when you have a hand full of dormant cards from an issuer.
What to say in a Chase reconsideration phone call
During the call you want to remain calm and think clearly about what you’re saying.
At the end of the day, you’re just talking to a credit analyst in private phone conversation so there’s really no need to be nervous. Many of these analysts can be quite friendly (though they sometimes play hardball in business reconsideration calls).
Verify your details
You’ll likely be asked to verify your identity and other details like your income, so make sure you’re ready to answer anything that came up on your credit card application (don’t give contradictory details).
They might also ask you about how much you plan on spending each month/year on the card and what kind of credit line you want. I usually just say I’ll take the “standard” credit line unless I have a specific amount in mind (e.g., $5,000).
Give a legit reason for wanting the product
You want to express your interest in getting the new card or cards for a legitimate reason.
Generally, this does not mean that you’re “just interested in getting the great sign-up bonus.” Try to dig a little deeper in your interests/motivations.
Here are some examples of legitimate reasons for getting new credit cards:
You need the credit card(s) to help segregate your expenses for some reason (e.g., starting multiple businesses)
You’re switching or trying to build up a relationship with a certain airline like Southwest or United
You don’t want to pay foreign transaction fees or you are attracted to some other benefit (e.g., primary rental car insurance)
You prefer one interest rate (APR) over another (especially when dealing with balance transfers)
I think it’s even okay to tell them that you’re trying to build up a more robust credit profile and earn some decent rewards while in the process.
Typically, a recon call will involve a bit of back and forth.
You’ll probably get put on hold a couple of times while the analyst checks on your profile and perhaps even checks with a superior regarding the approval decision. Sometimes those superiors will override the decision of the analyst, so wait until the end of the call to get excited about anything.
If you have opened a lot of new accounts in the past few months, you should be ready to try to explain yourself (and hopefully you’re not at “lol/24” and can do that with a straight face).
Shifting credit
One of the most common ways to get approved in a Chase recon call is to shift credit from one credit card to your new account. You can proactively suggest this as a solution or you can wait until the analyst suggests it (though they may not always offer that option to you).
This is the one drawback to lowering your credit limits before you apply. If you lower them too much, you may not have any credit to shift around for your approval.
Note: Chase no longer allows you to shift credit between business and personal credit cards.
What if Chase recon denies me?
If your conversation with the Chase reconsideration line does not go your way then you should try to call back later that day or another day to see if you have any luck with another analyst.
Sometimes another credit analyst will view your application more favorably. But note that these agents can usually see the last time you called in and the notes on that conversation.
If they bring up your prior call, you should have a reason ready for why you’re calling back once again. Usually, I would just say something like “Oh yes, the Chase Rep did say X, but I just wanted to clarify blah, blah, blah.”
At a certain point, you’ll just have to accept defeat if multiple calls don’t work, though.
How long can you wait to call reconsideration?
You can usually wait up to 30 days to call into reconsideration about your application but I do not recommend waiting that long. There are plenty of reports of Chase pulling your credit report again if you wait near that long.
So I would call in as soon as I got a rejection or the 7 to 10 day message.
Other reconsideration lines
You might be wondering about the reconsideration lines for other banks and you can find their information below.
American Express Reconsideration Line
American Express doesn’t have a true reconsideration line but you can still call them up and speak to a credit analyst if your application is not approved or is still pending.
There are multiple numbers you can call for Barclays reconsideration. In my experience, they are pretty accommodating but can be inquiry sensitive and they like to see that you’re actually using their credit cards.
Capital One is another issuers that doesn’t have a true reconsideration line but you can still contact their customer service line and inquire about your application status.
Sometimes Capital One will tell you that they won’t review your application until you’ve received a response (email or mailer) from them which can be highly annoying.
General Customer Service: 1-800-951-6951
If you want to check on your application status, you can call in to the number below (there’s not currently a way to check it online).
Application Status Checker: 800-933-5182
Citibank Reconsideration Line
I’ve had some interesting experiences over years with Citi reconsideration but they have been mostly positive. Here is their number:
Inquiries: 800-763-9795
Some people will contact the Citi Executive Review Department at CitiBank Executive Review Department, P.O. Box 6000, Sioux Falls, SD, 57117. I’ve never done this but apparently others have had success.
You can check your Citi credit card application status by checking it online or calling the number below:
Citi Application Status Number: 1-800-695-5171
Discover Reconsideration Line
Discover reconsideration is notoriously difficult since they don’t often overturn decisions but you can give it a got at the following numbers:
Overall, the Chase reconsideration line can help you get approved for cards that you were originally rejected for but you don’t always have to resort to calling.
It’s good to know about when you should call versus when you should just wait it out. You never know what Chase is going to do with your credit card application but it surely helps to know how to navigate through the post-application process.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Chase Sapphire Preferred $50 Hotel Credit Guide [2021]
The Chase Sapphire Preferred is once again one of the hottest travel rewards credit cards. This is due in large part to the industry-leading welcome bonus that was recently increased to 100,000 points but it also is due to the additional enhancements to the card. One of these enhancements was a new $50 hotel credit.
But how exactly do you use this credit and is it actually a good deal?
In this article, I will break down how you can use this credit and some pros and cons that might make you think twice about the value of the credit.
What is the $50 annual Ultimate Rewards hotel credit?
The $50 hotel credit is a credit issued every year that can go towards a hotel booking made via the Chase Travel Portal.
If you were approved for the Chase Sapphire Preferred on or after August 16, 2021 you will instantly be able to use the credit once your account is open. However, if you had the card opened before that date you will have to wait until your account anniversary to use the credit. After that, you will receive the $50 credit every account anniversary.
Tip: You can easily keep track of your credit card perks like the $50 hotel credit with the free app WalletFlo. It will also keep you up-to-date on all of the latest promos and credit card offers. So be sure to check it out!
Use WalletFlo to keep track of all your credit card perks and credits.
How to use the $50 hotel credit
To use the credit, you need to log into the Chase Travel Portal at ultimaterewards.com.
If you have multiple Chase cards you will be asked to select your card and make sure that you select your Chase Sapphire Preferred card.
Once you are logged in, navigate to the travel screen. On desktop, you simply click on the three bars in the left hand corner and then scroll down to “Travel” and click on that.
Next, navigate to “Hotels” and then simply go through your search and booking process as you normally would. You should be able to use your credit on any of the hotels you find in the search results so feel free to book any property you’d like.
After you make your hotel booking, the statement credit should automatically post to your account within two days of your purchase posting to your account. It should then appear on your monthly billing statement within 1 to 2 billing cycles.
In my experience, Chase has been pretty solid with posting credits quickly. But in the event you do not see your credit after a week or two, you can always call the number on the back of your card and inquire about it.
Is it worth it?
So now that you know how the credit works, a big question is whether or not the credit is worth it?
In other words, in light of the $95 annual fee that the Chase Sapphire Preferred has, does this credit provide sufficient value to make the card a keeper?
The answer to that question is that it depends.
The biggest knock against the $50 hotel credit is that you have to use it on a hotel booked through the Chase Travel Portal, which is powered by none other than Expedia.
This means that you will miss out on hotel elite perks for your stay. For example, you will almost assuredly not get any type of elite night credits for your stay or earn loyalty points for the respective elite program.
There is still hope for your elite status benefits such as upgrades, free breakfast, late check-out, etc. In order to maximize your odds of receiving those benefits, you should call or email the hotel ahead of time and ask them to add your loyalty number to your reservation.
You can also do this when you arrive at the property but I find it better to do it ahead of time before you actually arrive at the property/check-in desk.
I have booked a number of hotel stays through online travel agencies over the past few years and have had a tremendous amount of success with receiving elite status benefits with Hilton, Marriott, and Hyatt.
Because you can still receive some of your elite status perks (albeit with a little bit of extra work and luck), I think the $50 hotel credit still holds a lot of value for many travelers.
Tip: Because you lose out on other elite benefits, credits like this are often good for non-chain hotel bookings. So if you can find a cozy cabin located off the grid in the Chase Travel Portal, you might get more value on a stay like that.
It’s worth pointing out that the Chase Sapphire Preferred offers some other solid perks.
There is the $60 Peloton credit that is good for digital memberships and all access memberships. Together with the $50 hotel credit, you could actually turn a small profit with this card!
Other major benefits include:
25% bonus when using points in the Chase Travel Portal
And then you have the solid bonus categories like 3X on dining, streaming, and online groceries. So just make sure you’re aware that there are major value opportunities beyond the $50 hotel credit, since some of these perks could offset the $95 annual fee by themselves.
FAQ
Does the $50 hotel credit rollover?
No, if you do not use the $50 credit, you will not be able to utilize it in the next year.
How do you get the $50 hotel credit?
The credit is automatically applied to your card when you make a hotel booking through the Chase Travel Portal. It does not require activation.
Is the credit issued every calendar year or anniversary year?
The $50 hotel credit is issued every anniversary year.
Do you earn bonus points on the $50 purchase?
No, you do not earn additional bonus points on the $50 portion of your hotel purchase.
Final word
The Chase Sapphire Preferred is no doubt one of the most popular credit cards for travelers right now. The $50 hotel credit makes it a lot easier to offset the already relatively low annual fee of $95. However, you do lose out on some potentially valuable perks when utilizing this credit and that is something that everyone should be aware of.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
More and more credit cards are now offering special credits. The trick with these credits is knowing how to use them and ensuring that you don’t forget to use them or forget when to cancel them.
In this article, I’ll break down the Chase Peloton credits and explain to you how they work and how you might be able to optimize them even if you don’t own a Peloton bike.
What is Peloton?
Peloton is a brand that sells exercise equipment, including exercise bikes and treadmills, and also provides an array of different fitness related classes via its app.
The exercise equipment comes with HD touchscreen monitors and speakers that allow you to get immersed in classes, including live classes with world-class instructors.
You can track your performance metrics and also monitor your position on the leaderboard as you compete with others.
The exercise bikes are known for being high-quality but they are also pretty pricey ranging from around $1,900 to $2,500. You can apply for financing though which can result in payments of around $50 to $65 a month.
As explained in more detail below, you do not have to purchase a Peloton exercise bike in order to use the app or the Sapphire credit.
What is the Chase Peloton credit?
The Chase Peloton credit offers you a statement credit for Peloton Digital Memberships and All-Access Memberships.
So the credits do not go towards the price of the hardware but instead are used for the monthly memberships.
There are two different types of monthly memberships you can sign up for.
The Peloton Digital Membership costs 12.99 per month while the All-Access Memberships cost $39 per month.
The more expensive All-Access Membership is designed for those who purchase the hardware equipment.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
What cards get the Chase Peloton credit?
The following cards will receive the Chase Peloton credit:
The Chase Sapphirre Preferred will offer you a $60 statement credit through December 31, 2021.
Meanwhile, the Chase Sapphire Reserve and the JP Morgan Reserve will offer you $120 in statement credits through December 31 of 2021.
If you are going with the basic $12.99 Digital Membership Monthly Subscription, another way to look at this is that you can get up to 4.6 months free with the Chase Sapphirre Preferred and 9.2 months free with the Chase Sapphire Reserve.
If you are going with the $39 All-Access Membership, another way to look at this is that you can get up to 1.5 months free with the Chase Sapphirre Preferred and 3 months free with the Chase Sapphire Reserve.
How to use these credits
The first thing to be aware of is that these credits are only good through December 31 of 2021.
So if you have the Chase Sapphirre Preferred, you want to be sure to start triggering your credit about six months from the end of the year.
If you have the Chase Sapphire Reserve you want to start triggering your credit about 10 months from the end of the year.
Tip: If you are a new member, you should be able to receive a free 30 day trial for the digital membership monthly subscription. So remember to factor that in when beginning a membership.
How to optimize these credits
If you already are using or already were thinking about subscribing to a Digital Membership Monthly Subscription or the All-Access Membership, then you will save with these credits and your savings are pretty straightforward (but see the below FAQ).
If you currently do not use Peloton there still may be some value to be had with these credits.
That’s because you don’t have to have a Peloton bike or treadmill in order to sign up for and use the Peloton Digital Membership classes.
You can simply obtain a membership and participate in these classes via the app even if you do not own a Peloton exercise equipment.
You can access these classes on the peloton app using your phone, iPad, android device, Fire TV, or even on the web.
They have many courses that you might be interested in well.
For example, there are classes for things like strength, yoga, cardio, meditation, running, stretching and even walking.
There are thousands of classes and some are live while others are on demand.
My advice would be to download the app from the App Store and browse through the different classes to see if anything interests you.
Increased bonus categories
Chase recently announced that Sapphire Preferred cardholders can earn 5x on Peloton purchases and Sapphire Reserve cardholders can earn 10x through March 2022. There is a limit to the total number of points you can earn and it is limited at 25,000 for the Sapphire Preferred and 50,000 points for the Sapphire Reserve.
Also, there is a minimum purchase amount of of $1,800 that applies to your purchase of Bike, Tread, and accessory purchases.
In order to trigger your credit, be sure that your payment method is one of the eligible Chase cards.
Note: If you purchase your membership through the Apple App Store or Google Play App Store you will not qualify for the offer.
What if I am already a Peloton member?
If you are already a member, go here to read about instructions on what to do.
Basically, you might have to switch who manages your membership from something like the App Store to Peloton but this is pretty easy to do.
Do I have to use the credit in consecutive months?
No, the great thing about this credit is that you do not have to use it in consecutive months and can pause your membership if you would like.
Just keep in mind the deadlines mentioned above because if you wait too long to use your credits you will run out of time and not be able to optimize them.
Will I be billed after I use the credits?
After you have used all of your credits, you will continue to be charged for your membership so if you want to avoid getting charged you will need to cancel the membership.
When will the statement credit show up?
You should see the statement credit post to your account the same day you make your qualifying Peloton transaction.
It may take one or two billing cycles for it to show up on your credit card billing statement.
Do authorized users get the credit?
Authorized users do not get an additional $60 or $120 credit.
However, if an authorized user card is used on a membership they can trigger the credit attached to the primary cardmember.
Final word
This is a fantastic way to save money if you are already a Peloton customer.
If you are not a Peloton customer but are interested in fitness, this could still be a very worthwhile credit to use because you can get access to thousands of classes, including live classes.
If you are more of a couch potato then this credit does not do you much good but perhaps you could use it on somebody else?
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Chase Sapphire 48 Month Rule Explained [2021]
Knowing how to navigate credit card application rules is extremely important for optimizing your credit card rewards. If you don’t know what you’re doing or you simply are not aware of the rules, you could be costing yourself thousands of dollars in value.
One of the most important rules to be aware of is the Chase Sapphire 48 month rule. The Chase Sapphire 48 month rule was a pretty big blow when it was unveiled a couple of years ago because it cut down on the bonuses available to people. But if you’re patient enough, this rule doesn’t have to limit you so much.
What is the Chase Sapphire 48 month rule?
The Sapphire 48 month rule means that you cannot receive a bonus or even get approved for a Sapphire card within 48 months of receiving a bonus from another Sapphire card.
Below, I will go into detail about the Sapphire 48 month rule.
But I would strongly recommend that you look into downloading the free app WalletFlo that calculates your eligibility for cards like this. Not only does it calculate the Sapphire 48 month rule but it also calculates eligibility for other major banks like American Express, Citibank, Discover, etc. You won’t have to worry about calculating these things yourself and can simply automate your credit card strategy.
The actual text of the rule
You can find the text of this rule by clicking on “offer details” on the main application page for the credit card.
The actual text of the full Sapphire eligibility rule states the following:
The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months.
So there are basically two parts to this rule.
The first is that you cannot be a current card member of any Sapphire credit card.
So let’s say that you have the Chase Sapphire Reserve and you are trying to apply for the Sapphire Preferred. Even if you received your bonus for the Sapphire Reserve five years ago, you would still not be eligible for the Sapphire Preferred until you close or product change your card.
Many people choose to downgrade their Sapphire cards to one of the Chase Freedom cards so that they can retain some decent rewards while also avoiding an annual fee. Typically, I would advise to wait at least 30 days after closing or product changing a card to re-apply. Others may only wait one week but I like to play things safe.
The second part of the rule is the actual 48 month rule. This simply means that you have to wait 48 months (or four years) from receiving a bonus to be eligible for the card/bonus again. (Again, notice that the rule applies to any Sapphire credit card.)
The big question is when do they consider your bonus received?
How the 48 months is calculated
I think one of the most common questions I see is how is the 48 months calculated?
Does it start from the date that you meet your minimum spend, received your bonus, or when your statement closes? Does it occur on an exact date or is it rounded to the end or beginning of a month?
It’s hard to get a straight answer on questions like this but the general consensus seems to be that the 48 month clock starts to run from the statement close date of the statement that contains the arrival of your bonus points.
So let’s say that you received your bonus points on March 23, 2020.
Now let’s assume that your statement ran from the period of March 12 through April 11. Many people would state that your 48 month clock would reset on April 12, 2024. I would agree with this.
It can sometimes be difficult to track down when exactly you received your points or what statement they came in. And that is why WalletFlo can be so helpful.
The app conservatively estimates when you would receive your bonus so that you can guarantee you’ll be eligible whenever you receive your notification.
I prefer to go with a very conservative method when calculating eligibility because of a few reasons.
First, we don’t always know exactly how these rules are calculated.
For example, I have seen data points where the 5/24 rule is calculated in different ways based on the type of credit reports that were pulled. So there is not always an exact science to how these eligibility rules are done. But if you go conservative then you can almost guarantee that you won’t be surprised by anything.
The other thing to consider is that these type of things can change. So just because something was calculated one way three years ago, that does not mean it will be the same this year.
Authorized users
It’s important to remember that an authorized user is not affected by this rule because they do not receive a bonus. Chase also does not consider you to be a current cardmember if you are only an authorized user.
Final word
The Sapphire 48 month rule requires you to be pretty patient when applying for a new Sapphire card. You typically would calculate your 48 month period by finding the statement close date of the statement in which your points arrived. Then just count four years from that date. But one very easy way to keep tabs on your eligibility for this card and for many others is to simply use WalletFlo.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Amex Gold vs Chase Sapphire Preferred [2020]
Offers contained within this article maybe expired.
The new Amex Gold Card and the Chase Sapphire Preferred are two of the most highly sought after travel rewards credit cards. For a while, the Sapphire Preferred had a leg up on the Gold Card but now that the Gold Card comes with a lot of additional perks, the comparison between these two credit cards is much different. Here’s a look at the Amex Gold Card vs the Chase Sapphire Preferred.
Eligibility
The Chase Sapphire Preferred is subject to the Chase 5/24 rule which means that you cannot get approved for it if you have opened up five or more accounts in the past 24 months. This means that you should normally pursue the Chase Sapphire Preferred first before going after the Gold Card.
There are additional application rules to consider like the 2/30 rule, 24 month rule, and current card holder rule. Meanwhile the Gold Card is only subject to the Amex once per lifetime rule.
Tip: Use the free app WalletFlo to help you travel the world for free by finding the best travel credit cards and promotions!
Welcome bonus
Chase Sapphire Preferred
The Chase Sapphire Preferred comes with a 60,000 point sign-up bonus after you spend $4,000 in the first three months after account opening. This is a fantastic offer. 60,000 Ultimate Rewards can take you pretty far and you can transfer these points out to the following partners.
Chase Ultimate Rewards Airlines
Aer Lingus
British Airways Executive Club
Flying Blue (Air France/KLM)
Iberia Airways
JetBlue
Singapore Airlines KrisFlyer
Southwest Airlines Rapid Rewards
United MileagePlus
Virgin Atlantic Flying Club
Chase Ultimate Rewards Hotels
World of Hyatt
IHG Rewards Club
Marriott Rewards
The Ritz-Carlton Rewards
If you don’t want to transfer your Ultimate Rewards to these travel partners, you might want to utilize the Chase Travel Portal to book your travel. Unlike Amex, the Chase Travel Portal offers better redemption rates for your points as you’ll get 1.25 cents per point with your Chase Sapphire Preferred (and 1.5 cents per point with the Chase Sapphire Reserve).
This is a key difference for people who don’t like to bother with things like black out dates or with transferring points out to travel programs. If you don’t like to mess around with point transfers, the Sapphire Preferred offers more value when using your points for airfare and hotels.
Amex Gold Card
The standard Gold Card welcome bonus open to the public is for 60,000 Membership Rewards after you spend $4,000 in the first six months after account opening.
Amex has arguably better transfer partners than Chase and you can move your Membership Rewards over to the following partners.
Airline Program
Ratio (MR to airline)
Transfer wait time
Aer Lingus
1:1
Instant
AeroMexico
1:1.6
24 Hours
Air Canada
1:1
Instant
Alitalia
1:1
Instant
ANA
1:1
48 Hours
Avianca
1:1
Instant
British Airways
1:1
Instant
Cathay Pacific
1:1
48 Hours
Delta
1:1
Instant
El Al
1000:20
Instant
Emirates
1:1
Instant
Etihad
1:1
Instant
Flying Blue
1:1
Instant
Hawaiian Airlines
1:1
Instant
Iberia
1:1
24 to 72 hours
JetBlue
250:200
Instant
Qantas
1:1
Instant
Singapore Airlines
1:1
24 to 72 hours
Virgin Atlantic
1:1
Instant
Airline Program
Ratio (MR to airline)
Airline mile value (est.)
Expected Transfer Time
Aer Lingus
January 1, 1970
1.3
Instant
AeroMexico
January 1, 1970
1.2
24 Hours
Air Canada
January 1, 1970
1.4
Instant
Alitalia
January 1, 1970
1.4
Instant
ANA
January 1, 1970
1.4
48 Hours
Avianca
January 1, 1970
1.7
Instant
British Airways
January 1, 1970
1.3
Instant
Cathay Pacific
January 1, 1970
1.2
48 Hours
Delta
January 1, 1970
1.2
Instant
El Al
February 9, 1900
Instant
Emirates
January 1, 1970
1.2
Instant
Etihad
January 1, 1970
1.4
Instant
Flying Blue
January 1, 1970
1.25
Instant
Hawaiian Airlines
January 1, 1970
1
Instant
Iberia
January 1, 1970
1.3
24 to 72 hours
JetBlue
250:200
1.3
Instant
Qantas
January 1, 1970
1
Instant
Singapore Airlines
January 1, 1970
1.3
24 to 48 hours
Virgin Atlantic
January 1, 1970
1.3
Instant
Emirates is a transfer partner of Amex.
Bonus categories
Chase Sapphire Preferred
2X on dining
2X on travel
The Sapphire Preferred earns 2X on dining and travel which is pretty basic but still not bad, especially for travel. Keep in mind that the Chase Sapphire Reserve earns 3X on dining and travel, so if you’re looking to maximize those bonus categories you might want to look to that card.
Amex Gold Card
3X on airfare
4X points at restaurants
4X points at U.S. supermarkets (up to $25,000 in spend per calendar year)
The Amex Gold Card is now a points-earning beast with 4X on restaurants and U.S. supermarkets. Earning 4X on these categories is going to allow a lot of people to rack up Membership Rewards much quicker than they would with the Chase Sapphire Preferred. If you value American Express points at 1.75 cents per point, that 4X rate comes out to 7% back on these purchases which is fantastic.
Earning 4X at U.S. supermarkets is huge.
Annual Fee
Chase Sapphire Preferred
The Chase Sapphire Preferred comes with a $95 annual fee that is not waived the first year.
Amex Gold Card
The annual fee for the Amex Gold card is $250, which is pretty high and places the Amex Gold card between the $500+ premium cards and premier travel cards that come with $95 annual fees.
$10 monthly credit that can be used at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, and Shake Shack.
By maximizing those credits, you can get the annual fee down to an effective $30 which is fantastic. However, you need to remember that the dining credit is only $10 per month, so it might not be easy to use for everyone, especially if you don’t dine out at the select restaurants.
Tip: Use the free app WalletFlo to help you travel the world for free by finding the best travel credit cards and promotions!
Primary rental car coverage
The Sapphire Preferred comes with primary rental car coverage which means that you’ll usually be able to avoid filing a claim with your insurance company if you get into an accident.
The Amex Gold Card only offers secondary coverage for car rentals and so you’ll have to purchase coverage as part of a separate plan if you want primary rental car coverage.
The fact that the Sapphire Preferred has this benefit built in to it is huge and it could end up saving you a lot of money and headache depending on how often you rent cars. So if you’re a frequent traveler who is constantly driving around in rental card, you might want to give the Sapphire Preferred the nod here.
Travel and purchase protections
One of the shortcomings of the Amex Gold Card is that it does not come with the same travel protections that the Chase Sapphire Preferred comes with. Instead, you’ll have to purchase those protections. Some of the protections you won’t get with the Amex Gold that you’ll get with the Sapphire Preferred include:
Trip Interruption: If your trip is canceled or cut short by covered situations, you can be reimbursed up to $10,000 per trip for your pre-paid, non-refundable travel expenses,
Baggage Delay Reimbursement: If delayed more than 6 hours, you arecovered for essential expenses, such as toiletries and clothes for up to one hundred ($100.00) dollars per day for a maximum of five (5) days.
Trip Delay Reimbursement: If delayed more than 12 hours you are covered for expenses, such as meals and lodging, up to $500 per ticket. (The Gold Card now offers this perk but only with coverage up to $300.)
Don’t underestimate the value of these benefits as they can save you money and make your life a lot easier if and when something unexpected happens. For example, it’s really frustrating and worrying when you arrive in a foreign country only to find out your bags have been lost. But being able to go on a little shopping spree when waiting for your bags to arrive really takes the sting out of that experience.
One area where Amex Gold Card is strong is in the purchase protections department. With the Gold Card you can get coverage up to $10,000 on purchases compared to the Chase Sapphire Preferred which only offers coverage up to a maximum of $500 per claim and up to $50,000 per account. That’s a huge difference though the Sapphire Preferred offers coverage for up to 120 days from the date of purchase but the Gold Card only covers up to 90 days.
The Amex extended warranty can provide one extra year added to the original U.S. manufacturer’s warranty for coverage up to the original cost of the item or $10,000, whichever is less on warranties of five year or less. The Chase Sapphire Preferred offers an extended warranty that extends the time period of the U.S. manufacturer’s warranty by one additional year, on eligible warranties of three years or less. So when it comes to extended warranties, Amex definitely has the edge.
Refer a friend
Both of these cards have referral programs where you can earn lots of points when your friends or family members are approved for cards when using your link to apply.
For example, with the Gold Card you can earn 10,000 Membership Rewards per referral and you can earn up to 55,000 Membership Rewards per year which is great. You can find out more about the Amex Refer a Friend policy here.
The Chase Sapphire Preferred referral allows you to earn 10,000 Ultimate Rewards per approval up to a maximum of 50,000 points per calendar year. You can read more about the Chase Refer a Friend here.
Shopping perks
The Chase Shopping Portal allows you to earn extra points when shopping online at various retailers. This is a great way to cash in on extra points when making larger purchases or even everyday items.
Amex doesn’t have a shopping portal but they do have Amex Offers, which offers all sorts of different special and promotions at different stores. These allow you to earn extra points or save money and are a great way to put some money back into your wallet.
Both of these programs are nice and it’s hard to pick a winner. I feel that the Chase Shopping Portal is better for earning points when shopping while Amex Offers is better for saving money.
Final word
The best card for you is going to depend on your own spending habits, personal goals, and travel plans. For someone dropping a lot on supermarkets and dining, the Amex Gold Card is hard to pass up. For someone who wants great travel protections like primary rental car coverage and baggage delay reimbursement, the Sapphire Preferred could be the better option.
Ultimately, I think it’s definitely worth getting both of these cards for many people and that’s a route that a lot of people should consider taking, especially if they can utilize all of the travel credits of the Gold Card.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
The Chase Sapphire Preferred Rental Car Insurance Explained [2020]
The Chase Sapphire Preferred rental car insurance comes in the form of a collision damage waiver (CDW), which provides reimbursement for damage due to collision or theft up to the actual cash value of most rental vehicles.
Even though CDW is not technically car insurance (no liability coverage), many refer to it as “rental car insurance.” I’ll use both interchangeably but keep that distinction in mind.
Does the Chase Sapphire Preferred come with primary rental car coverage?
Yes, the Chase Sapphire Preferred comes with primary rental insurance (or primary CDW coverage). (Read here for the full detailed review of the Chase Sapphire Preferred.)
This is significant because it means that you can avoid filing a claim with an insurance company, which also means you’ll probably be able to avoid fees along with an increase in your monthly premium.
The savings are also great because many rental car companies will charge you anywhere from $8 to $30 per day for a damage waiver. I was once quoted at over $100 for just for 3 days of coverage. So my Sapphire Preferred covered its annual fee on that single occasion by offering me built-in coverage.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
How do I get rental car coverage with the Sapphire Preferred?
To get Chase Sapphire Preferred rental car coverage (CDW) you need to:
Place the entire rental transaction on your Chase Sapphire Preferred.
Keep a copy of your receipt showing that the entire vehicle rental was charged to and paid for with your eligible card (you can likely use your or monthly billing statement if you lose track of your receipt).
Decline the damage waiver from the rental car company. If you accept the collision damage waiver offered by the rental company, you will not be eligible for Auto Rental CDW.
When you’re checking out a rental car, it’s easy to get into a rush due to the excitement of being in a new place. But don’t rush through that paperwork and always verify that you declined the rental car company’s damage waiver if you want this benefit.
Who is covered by the Sapphire Preferred rental car insurance?
Cardholder (name is embossed on the card and listed as the primary renter)
Additional drivers permitted by the rental agreement (authorized persons)
It’s always important to add your travel partner as a driver if they’re going to ever get behind the wheel. That’s because they won’t be covered unless their name is listed in the rental agreement.
Note: Some rental car companies like Avis will allow you to add a spouse for free but this could differ in countries outside the US.
What countries are not covered by the Sapphire Preferred rental car insurance?
The benefit is available in the United States and “most foreign countries.” You should be aware that regulations abroad could vary, so it’s recommended that you check with your rental car company and Benefit Administrator to verify your coverage before you travel.
You can call 1-888-675-1461 with your inquiries.
That time I got into a car accident in Iceland.
What is the rental car coverage limit?
The coverage will cover claims subject to the following restrictions:
“Auto Rental CDW is primary coverage and provides reimbursement up to the actual cash value of the vehicle as it was originally manufactured”
Vehicle rental periods that do not exceed nor intend to exceed 31 consecutive days
The Chase Sapphire Reserve states the coverage limit at $75,000 while the Sapphire Preferred merely excludes expensive and exotic vehicles. This essentially caps the coverage limit to “the actual cash value” of non-expensive, non-exotic vehicles.
What does the Sapphire Preferred rental car insurance cover?
Physical damage and/or theft of covered rental vehicle
Valid loss-of-use charges assessed by the rental company while the damaged vehicle is being repaired and is not available for use, as substantiated in the company’s fleet utilization log
Valid loss-of-use charges incurred by the rental car agency
What is not covered by the Sapphire Preferred rental car insurance?
The Sapphire Preferred coverage excludes: “expensive, exotic, and antique automobiles; certain vans; vehicles that have an open cargo bed; trucks; motorcycles, mopeds, and motorbikes; limousines; and recreational vehicles.”
This is a stark difference from the Chase Sapphire Reserve coverage which does not exclude these types of vehicles but instead limits coverage up to $75,000.
Chase provides some examples and definitions of these excluded terms so you can know what to expect:
Examples of excluded expensive or exotic automobiles are these brands: Aston Martin, Bentley, Bricklin, Daimler, DeLorean, Excalibur, Ferrari, Jensen, Lamborghini, Lotus, Maserati, Porsche, and Rolls Royce. However, selected models of BMW, Mercedes-Benz, Cadillac, and Lincoln are covered.
An antique automobile is defined as any vehicle over twenty (20) years old or any vehicle that has not been manufactured for ten (10) years or more.
This benefit is provided only for those vans manufactured and designed to transport a maximum of eight (8) people and which are used exclusively to transport people.
The terms also list a host of events that would exclude coverage. Some of these include:
Any obligation you assume under any other agreement
Any violation of the auto rental agreement
Confiscation by authorities
Cost of any insurance or collision damage offered or purchased through the auto rental company
Note: Personal liability for damage to other parties is not covered by the damage waiver. So if you damage another vehicle or physically injure someone else, this coverage will not apply to that scenario.
Sorry, Lambos are not covered by Sapphire Preferred rental car coverage! Photo by llee_wu.
Tip: Use the free app WalletFlo to help you travel the world for free by finding the best travel credit cards and promotions!
Important Claim Information
If you do get into an accident, it’s important that you notify the Benefit Administrator as soon as possible.
Chase requires you to notify the Benefit Administrator within 60 days of the damage or theft. You also need to promptly respond to any paperwork inquiries when they send you the claim forms to fill out.
Here are the official guidelines:
If you, the Cardholder, have an incident, contact the Benefit Administrator immediately to report theft or damage, regardless of whether your liability has been established
You must notify the Benefit Administrator within 60 days of the damage or theft
The Benefit Administrator will send you a claim form when you report your loss; you must submit a completed claim form within 100 days of the damage or theft
Submit all required supporting documentation within 365 days of the damage or theft
Collect your documents
In addition to the Auto Rental Collision Damage Waiver Claim Form that you’ll receive and your receipt for your rental car transaction, you’ll want to keep evert document sent to you by the car rental company.
You should ask the rental company for the following documents as soon as possible after an accident.
A copy of the Accident Report Form and claim document: these documents should show the costs you are responsible for and any amounts that have been paid toward the claim.
A copy of the entire auto rental agreement(s)
A copy of the repair estimate or itemized repair bill
Two photographs of the damaged vehicle, if available
A police report, if obtainable
Any other documentation deemed necessary, in the Benefit Administrator’s sole discretion, to substantiate the claim
If you have issues gathering any of these documents within 100 days of the date of theft or damage, just submit the claim form and any documentation you have available.
Remember, you still have an entire year from the time of the incident to provide the other documents.
How long does it take to process a rental car claim?
Generally, the claim will be paid within fifteen days after the Auto Rental CDW Benefit Administrator has received all documentation needed to fully substantiate your claim.
Note that working with car rental companies can be a major PIA some times so you could find yourself attempting to resolve your claim for months. Just be prepared to be a bit aggressive to make sure that things get taken care of for processing your claim.
Final word
The Sapphire Preferred rental car insurance or collision damage waiver is one of the best benefits of the Sapphire Preferred. This benefit alone can more than make up for the $95 annual fee and so you should definitely make sure you have an idea on how to use it.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Chase Sapphire Preferred vs Chase Ink Cash: Which is Better? [2020]
Two of the most popular credit cards issued by Chase are the Chase Ink Cash and the Chase Sapphire Preferred. These cards have some similarities in that they both offer a lot of value but there are some key distinctions to be made between these cards, too.
Here’s a comparison of the Chase Ink Cash vs the Chase Sapphire Preferred and many of the key considerations that you’ll want to review before making your decision on which one to apply for.
Business vs personal cards
The first thing to consider when choosing between these cards is that the Chase Ink Cash is a business credit card and the Chase Sapphire Preferred is a personal credit card.
This means that you’ll need to have a business in order to apply for the Chase Ink Cash.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Sign-up bonus
Chase Ink Cash
The Chase Ink Cash comes with a very solid sign-up bonus of $500 in cash back after spending $3,000 in the first three months.
The Ink Cash earns cash back for its sign-up bonus. Basically, you’ll earn 50,000 Ultimate Rewards which can be cashed out at a rate of 1 cent per point for a total of $500.
However, if you have a premium card like the Chase Ink Preferred, Sapphire Preferred, or Sapphire Reserve then you’ll take home 50,000 Ultimate Rewards which can be transferred to a lot of travel partners (more on that below).
The Chase Ink Cash also comes with 0% introductory APR for 12 months on purchases, which adds a lot of value for many people.
Chase Sapphire Preferred
The Chase Sapphire Preferred offers 60,000 Ultimate Rewards after spending $4,000 in the first 3 months.
The Chase Sapphire Preferred has two major advantage over the Ink Cash when it comes to using your points. First, you get a 25% bonus on your points when using the Chase Travel Portal which means your points will be worth 1.25 cents per point when using the travel portal.
The travel portal is great for booking flights and not having to worry about open award inventory, black out dates, etc.
Getting that extra bit of value will allow you your points to last longer and it can be a good way to cover the cost of cheaper flights which would usually offer poor value for your miles.
The other advantage that the Sapphire Preferred has over the Ink Cash is that you can transfer your points out to the various travel partners. Transferring your points out to these partners means that you’ll be getting a lot more in value from your points.
For example, you can use your Ultimate Rewards to fly on some amazing first class and business class products like the new Singapore Airlines first class product.
Here’s a list of all of the transfer partners.
Chase Ultimate Rewards Airlines
Aer Lingus
British Airways Executive Club
Emirates
Flying Blue (Air France/KLM)
Iberia Airways
JetBlue
Singapore Airlines KrisFlyer
Southwest Airlines Rapid Rewards
United MileagePlus
Virgin Atlantic Flying Club
Chase Ultimate Rewards Hotels
World of Hyatt
IHG Rewards Club
Marriott Bonvoy
So while the sign-up bonuses are very similar, the Sapphire Preferred wins out due to the increased value when using the Chase Travel Portal and for the added flexibility of being able to transfer points to travel partners. It is much more of a true travel credit card than the Ink Cash.
Singapore Airlines first class.
Bonus spending
The bonus categories for these cards are quite different, so you’ll want to make sure that you put proper value on the categories that line up with your spending.
Chase Ink Cash
The Chase Ink Cash will earn you 5% cash back on the first $25,000 spent in combined purchases each account anniversary year at:
Internet, cable and phone services
Office supply stores
Getting 5X is great especially considering that the Chase Ink Plus no longer is available to new applicants.
This is really where the “special value” of the Chase Ink Cash is in my opinion. Earning 5X adds up remarkably quickly so being able to pay your everyday bills like internet, cable, and phone services is a great way to supplement your point earnings.
5X at office supply stores can also be very lucrative if you can maximize that as well. Just keep in mind that the $25,000 spending limit is combined for these categories, so if you do whole lot of spending each year, your rewards may be capped (the rewards for the Sapphire Preferred are not capped).
Earn 2% cash back on the first $25,000 spent in combined purchases each account anniversary year at:
Gas stations
Restaurants
Getting 2X on dining is the same as the Sapphire Preferred and while 2X on gas is nice, it’s not the most rewarding card for spend on gas purchases.
The Chase Sapphire Preferred earns the following rates:
2X on dining
2X on travel
The 2X back on dining is basically the same as the Ink Cash but it’s worth more since you can get more value from your Ultimate Rewards than with the Ink Cash.
But besides that, the 2X on travel is where the Sapphire Preferred is most different from the Ink Cash. These aren’t bad earning categories but keep in mind that the Chase Sapphire Reserve earns 3X on both of those categories.
Overall, the bonus categories are very different so this is a situation where it makes sense to pick up both of the cards so that you can have a well-rounded way of earning rewards.
The Ink Cash definitely has the more diverse bonus categories but for someone primarily concerned with travel (and using points for travel), the Sapphire Preferred could still be the better option.
The Chase Sapphire Preferred is the overall better card for travel.
Primary rental car coverage
Both of these cards come with primary rental car insurance which can save you a lot by allowing you to avoid filing any kind of claim with your insurance provider.
But you should note that the Chase Ink Cash offers primary rental car coverage when renting for business purposes and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
The fact that you can get primary rental car coverage with a no-annual fee credit card is huge in my opinion but the restriction on travel for business purposes could mean that the protection is not as valuable as the protection offered by the Sapphire Preferred which covers personal use. (The Ink Cash offers personal coverage for international trips.)
Other protections
The line-up of additional protections is very similar between these cards but there’s at least one key difference.
Baggage delay
The Chase Ink Cash provides baggage delay coverage for delays over 6 hours up to $100 a day for three days. Meanwhile, the Sapphire Preferred provides coverage for delays over 6 hours up to $100 a day for five days. It’s pretty rare for baggage delay to (need to) extend to over 3 days but it’s a good idea to be aware that there’s a difference in coverage here.
Lost luggage
Both cards cover up to to $3,000 per insured person per covered trip with a $500 limitation for coverage for jewelry, watches and electronics.
Extended warranty
Both cards extend the time period of the U.S. manufacturer’s warranty by one additional year, on eligible warranties of three years or less.
Tip: Use the free app WalletFlo to help you travel the world for free by finding the best travel credit cards and promotions!
Annual Fee
Chase Ink Cash
No annual fee
Chase Sapphire Preferred
$95 annual fee
Again, the Chase Ink Cash stands out as being one of the most rewarding credit cards with no annual fee. Meanwhile, the Chase Sapphire Preferred has a pretty standard annual fee of $95.
Chase application rules
Both of these cards are subject to the Chase 5/24 rule and because of that you will be denied for these cards if you’ve opened up 5 or more accounts within the past two years.
One positive thing about the Chase Ink Cash is that it won’t count toward your 5/24 status with Chase. This means that if you have 3 cards opened up in the past 24 months right now and then you open up an Ink Cash, Chase will still view you as someone who has only opened up 3 cards. Thus, it could make sense to apply for the Chase Ink Cash now and then to get on board with the Chase Sapphire Preferred later on.
In addition to 5/24 there are some other Chase application rules you might want to read up on to make sure that you’re not violating any of these rules. If you want to find out your 5/24 status, you can use the new app WalletFlo to help you out!
Chase Refer a Friend
Both of these participate in the Chase Refer a Friend program, but currently the Chase Ink Cash does not pull up referral offers. This means that with the Sapphire Preferred you’ll be able to earn many more points with referrals which is definitely something to consider.
Also, it’s probably easier for the average person to refer someone to a personal card than it is to refer someone to a business card so that’s another consideration. You can read more about the referral program here.
Chase Ink Cash
The Chase Ink Cash is known for offering referrals although currently you might not be able to pull them up. But typically, the Chase Ink Cash referral allows you to earn 10,000 Ultimate Rewards per approval up to a maximum of 50,000 points per calendar year.
Chase Sapphire Preferred
The Chase Sapphire Preferred referral allows you to earn 10,000 Ultimate Rewards per approval up to a maximum of 50,000 points per calendar year.
Chase Shopping Portal
Both of these cards will give you access to the Chase Shopping Portal. The Chase Shopping Portal is a special website open only to Chase cardmembers that allows you to earn additional bonus Ultimate Rewards when making purchases at various online retailers. It’s a fantastic way to increase your earnings and rack up points — you can learn more about this portal here.
Approval odds
Both of these credit cards are going to require you to have good to excellent credit scores. And beyond that, you’ll want to have established credit history spanning at least a couple of years before applying.
I wouldn’t apply for either one of these cards if I was brand-new to credit cards and lacked a proven credit profile. If you want to read more about approval odds for the Sapphire Preferred you can do that here.
Since the Ink Cash is a business card you might need to call in to Chase business reconsideration to try to get your application approved. I’ve got an article on how to deal specifically with Chase business reconsideration, which you can read about here.
Final word
The Chase Sapphire Preferred and the Chase Ink Cash are a duo that can really make sense to pursue. They’ve both got great sign-up bonuses but they have very different bonus categories, making them a good pair to utilize. I think the decision for which cards to choose will often come down to:
Spending habits and limits
Travel goals (redemption goals)
Travel habits and purpose (business vs personal)
0% APR
Annual fee
5/24 status
Referral potential
If you get a good grasp on those factors, you should be able to make a sound decision on which card is best for you.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
Chase Sapphire Preferred Review [2020]
The Chase Sapphire Preferred is one of the flagship credit cards offered by Chase. The card has a lot going for it including a great welcome bonus, decent bonus categories, and a lot of amazing travel protections. In this article, I’ll break down all of the benefits and show you just how valuable this card can be.
Chase Sapphire Preferred intro
Card highlights
2X on Dining
2X on Travel
5X on Lyft
DashPass
Strong travel protections
No foreign transaction fees
$95 annual fee
The Chase Sapphire Preferred is arguably the most popular travel rewards credit card. It appeals to a broad range of consumers because of its low annual fee, superb travel protections, and ability to rack up valuable travel points that can be transferred out to some great partners. It’s easily one of the top travel cards for a beginner and that’s why I put it at my number one spot.
Welcome bonus
For the longest time the welcome bonus for the Sapphire Preferred was stuck at 50,000 Ultimate Rewards after spending $4,000 in the first three months.
That wasn’t a bad bonus at all but Chase eventually upgraded the welcome bonus to 60,000 Ultimate Rewards after spending $4,000 in the first three months which was much more attractive and even higher than the Chase Sapphire Reserve’s bonus.
60,000 Ultimate Rewards can get you very far.
Just how far? I’ll give you some examples.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
Cashback
If you just redeemed your 60,000 point bonus for straight cashback, the baseline value is $600 which is actually very good.
Some banks with valuable transferable points don’t allow you to cash in at one cent per point so this is actually very competitive.
But you can do much better.
Chase Travel Portal 25% bonus
If you redeemed your Ultimate Rewards in the Chase Travel Portal, you’ll be able to book things like airfare, hotels, car rentals, and cruises at a rate of 1.25 cents per point which would put the value of your 60,000 points at $750.
But it’s not even all about the monetary value.
Using the Chase Travel Portal means that you don’t have to deal with award inventory or deal with black-out dates.
So there is a huge convenience factor here.
For people who like simplicity in their travel rewards, the travel portal is the way to go.
Just keep in mind that if you had the Chase Sapphire Reserve, you could redeem your points at a rate of 1.5 cents per point towards travel.
Chase travel partners
Things get even sweeter when you start to transfer your points out to travel partners.
Here are all of the current Chase transfer partners:
Aer Lingus
British Airways Executive Club
Emirates
JetBlue
Flying Blue (Air France/KLM)
Iberia Airways
Singapore Airlines KrisFlyer
Southwest Airlines Rapid Rewards
United MileagePlus
Virgin Atlantic Flying Club
Hyatt
Marriott
IHG
You can transfer your points to all of these partners at a 1:1 ratio.
For someone looking to do a lot of flying around the US, Chase Ultimate Rewards can be extremely valuable. You can often find Southwest Wanna Get Away flights on the cheap so transferring your points to Southwest is often a good move.
United Airlines can also be a great option for flying around the US but don’t forget that you can use United miles on some great partners like EVA and Lufthansa.
I recently used United miles to fly first class on Lufthansa and it was a pretty amazing flight there are many other amazing business class and first class redemption possibilities with Ultimate Rewards.
60,000 Ultimate Rewards transferred to United wont be quite enough for a long-haul premium flight with partners like EVA and Lufthansa but it will set you up nicely to get there with perhaps some additional spending or another Chase card.
For example, you could fly one-way business class between Taipei and the US for 88,000 United miles plus ~$40 in fees.
Saver award in business class on partner EVA.
According to Google Flights this would be a $5,961 flight. So if you use your 60,000 Ultimate Rewards towards this redemption, the total value you would be getting from your 60,000 points would be approximately: $4,037!
That just goes to show the potential for outsized value with some of these transfer partners.
The cash price for this flight is almost $6,000!
If you want to check out some more examples of some amazing premium cabins that you can book with Chase points, be sure to check these out here:
Chase also has the best lineup of hotel partners, especially with Hyatt. If you transfer your welcome bonus over to Hyatt, 60,000 Hyatt points could get you two nights at a category 7 property which could amount to value close to $2,000!
So as you can see, transferring your points is the way to go for outsized value.
You can fly Lufthansa First Class with United points.
Eligibility
The Chase Sapphire Preferred is subject to the Chase credit card application rules including the Chase 5/24 rule and the dreaded Sapphire 48-month rule, not to mention the 2/30 rule.
Instead of trying to keep up with calculating all of these rules yourself, I highly recommend that you sign up for the free app WalletFlo which will automate your eligibility for all of these credit card rules.
You can also set up notifications so that you are reminded when you are finally eligible along with keeping tabs on your annual fees, upgrade history, etc.
One of the great things about the Sapphire Preferred is that it earns 2X on a broad travel category.
Chase states that travel includes “airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.”
I’ve actually had quite a few tours and even excursions like scuba diving count as travel in the past.
2X on Dining
Dining is also pretty broad and includes primary businesses with “sit-down or eat-in dining, including fast food restaurants and fine dining establishments.”
Earning 2X on dining in travel is respectable.
Using a WalletFlo valuation of 1.73 cents per point, that comes out to 3.46% back. That’s not bad but many people believe that the Chase Sapphire Preferred is overdue for some changes in the bonus category department.
(Personally, I think it would be nice to see the addition of grocery store bonus spend.)
The thing about Chase is that you have some great options for earning more points. For example, the Chase Freedom offers 5% back on rotating categories and there is also the Chase Freedom Unlimited with its 1.5% back on all purchases.
5X on Lyft
Earning 5X on Lyft is a pretty big deal if you use that rideshare service.
Using the valuation above, 5X comes out to 8.65% back.
That’s very good but again some people may prefer to use a different service like Uber or they may not even use rideshares at all. Note that this benefit is currently only running through 03/31/2022.
You can earn points on travel all around the world.
DashPass Subscription
As a cardmember you will get a complimentary one-year DashPass membership, which is DoorDash’s subscription service that provides unlimited restaurant deliveries with a $0 delivery fee and reduced service fees on orders over $12.
Normally, this membership would cost you $9.99 per month, so that’s a high potential for savings over the span of one year.
Travel and purchase protections
One of the reasons why the Chase Sapphire Preferred is such a great travel rewards credit card is that it has fantastic travel protections, especially for a card with low annual fee.
Here’s a breakdown of the travel and purchase protections you’ll get with this card.
Primary rental car coverage
When you book a rental car on the Chase Sapphire Preferred, you should refuse collision damage waiver coverage because you have built-in rental car coverage with your card.
The best part about this protection is that the coverage is primary unlike so many other cars which only offer secondary rental car coverage.
Trip Cancellation/Trip Interruption
You can be reimbursed up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses. These expenses include things like airline tickets, hotel stays, and tours, which is why I consider this card to be one of the best to use for hotel bookings.
This protection is one of the biggest reasons to get this card and why it makes sense to put most of your trip itineraries on this card. Unless your trip costs significantly more than $10,000, you often can avoid purchasing trip insurance with these perks.
Baggage Delay
The baggage delay protection will reimburse you up to $100 a day for up to five days for essentials such as toiletries and clothing when your baggage has been delayed over six hours.
The six hour threshold and $100 a day limit for coverage is very competitive making this once again a great card to use for airline travel.
Purchase Protection
The purchase protection benefit will cover you for new purchases for 120 days and you will be protected against damage or theft up to $500 per claim and $50,000 per account.
This benefit is definitely not one of the most competitive because other rewards cards offer purchase protection up to $10,000 per claim. So when it comes to your “big balla” purchases, you may want to put those on a different card.
Extended Warranty Protection
If you put a purchase on this card, a U.S. manufacturer’s warranty will be extended by an additional year, on eligible warranties of three years or less.
This is a pretty decent extended warranty protection but because the purchase protection limit is so low, I personally rarely rely on this.
Trip Delay Reimbursement
If your common carrier travel is delayed longer than 12 hours or if it requires an overnight stay, you and your family can be reimbursed for unreimbursed expenses including meals and lodging up to $500 per ticket.
This is a great perk because many common carriers such as airlines don’t have to provide compensation when your flight is substantially delayed for reasons like bad weather.
And when they do provide compensation or lodging it could be at a specific hotel but if you have this benefit you can go out and stay at a hotel of your choice while getting reimbursed for your dining expenses.
The only drawback is that it requires a delay of 12 hours versus six hours which is what is offered by other cards like the Sapphire Reserve.
Travel Accident Insurance
Hopefully you’ll never have to use this but if you pay for your air, bus, train or cruise transportation with your card, you can receive coverage of up to $500,000 for accidental death or dismemberment.
Travel and Emergency Assistance
If you get yourself into a situation while traveling and need assistance finding legal or medical referrals or some other type of emergency assistance, you can contact the Benefit Administrator.
Just to be aware that you will be responsible for any services that you accept.
Events and experiences
You can get exclusive access to some pretty cool events in different industries like music, sports, and entertainment. These include some high profile events like the Sundance Film Festival.
Direct access to customer service
One of the most convenient perks offered by this card is direct access to a customer service agent. All you have to do is call the number on the back of your card and you will be instantly connected to a customer service representative.
(You may have to verify the last few digits of your card first.)
This greatly cuts down on your waiting time and is a huge perk.
Foreign transaction fees
The Chase Sapphire Preferred has no foreign transaction fees.
Annual fee
The annual fee for the Chase Sapphire Preferred is $95.
Chase Sapphire Preferred FAQ
How much is the bonus worth for the Chase Sapphire Preferred?
If you receive a 60,000 point bonus, you could be getting anywhere from $600 to over $4,000 worth of value. It all depends on how you choose to redeem your points.
Is the annual fee waived for the Chase Sapphire Preferred?
The annual fee for the Chase Sapphire Preferred is not currently waived for most offers.
What travel protection does the Chase Sapphire Preferred have?
What credit score do you need for the Chase Sapphire Preferred?
It’s recommended to have a great credit score of around 720 or higher to get approved. However, plenty of people have been approved for the card with credit scores that are lower than that. I would generally try to get my score as close to 700 as possible before applying though. Read more about approval odds.
What credit bureau will be pulled if I apply for the Chase Sapphire Preferred?
Chase might pull from multiple bureaus when you apply. In my case, Chase will usually pull from Experian and Equifax but it could differ based on your location. Read more about credit pulls here.
Can you upgrade the Chase Sapphire Preferred?
Yes, after you have had the card for one year, you can look into upgrading to the Chase Sapphire Reserve which comes with a higher annual fee but many more benefits.
Can you get the Chase Sapphire Preferred and the Chase Sapphire Reserve?
You are not allowed to get both of these cards based on the application rules found in the terms and conditions. You will need to wait 24 months from receiving a bonus from one of the cards and/or cancel one of them if you currently hold one in order to get approved for an additional Sapphire card. To automate your eligibility for these rules, I suggest using WalletFlo.
Does the Chase Sapphire Preferred come with roadside assistance?
You get “roadside dispatch” which helps you get the roadside assistance that you need. However, this service is not complimentary and you will be billed for whatever services you accept.
Can you downgrade the Chase Sapphire Preferred?
Yes, after you have had the card for one year you may inquire about downgrade opportunities.
Many people choose to downgrade the Sapphire Preferred to the Chase Freedom or the Chase Freedom Unlimited, both of which have no annual fee but still offer great rewards. You can also downgrade to the no annual fee version of the Chase Sapphire.
Can you get a credit limit increase for the Chase Sapphire Preferred?
Yes, it is possible to get a credit limit increase. There are several tips I have and I recommend that you read up on those in order to improve your odds of getting an increased credit limit.
Does the Chase Sapphire Preferred come with Global Entry?
No, the Chase Sapphire Preferred does not come with Global Entry. However, you can get this benefit with the Chase Sapphire Reserve. Find out more about Global Entry here.
Does the Chase Sapphire Preferred come with airport lounge access?
No, the Chase Sapphire Preferred does not come with airport lounge access. Once again, you can get airport lounge access with the Chase Sapphire Reserve via Priority Pass Select.
Is the Chase Sapphire Preferred metal?
Yes, the Chase Sapphire Preferred is partially metal. It’s not as heavy as some other metal cards like the Amex Platinum Card but it is more durable than a standard plastic credit card.
How do you dispose of the Chase Sapphire Preferred?
Because the card is partially metal, you may have trouble disposing of it (unlike a typical credit card that you can just cut up). Chase allows you to send in your card with a prepaid envelope for proper disposal if you would like.
Do Chase Sapphire Preferred points expire?
No, as long as your card is active your points will not expire.
Do I need to set up a travel notification if I travel?
Chase may not require you to set up a travel notification on your Sapphire Preferred but this could depend on your travel and spending habits with Chase. If in doubt, you should try to set one up and you can find out how to do that here.
Final word
The Chase Sapphire Preferred has an amazing welcome bonus and decent bonus earning potential but it also comes with some amazing travel protections that make it a great choice for a go-to travel rewards credit card.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
The Chase Sapphire Preferred card is a great travel rewards credit card with a low annual fee of $95. It comes with bonus earning of 2X on dining and travel and the ability to transfer points to some amazing travel partners. But this card also comes with some fantastic benefits like primary rental car coverage and many other solid protections. One of these protections is the Chase Sapphire Preferred extended warranty which I’ll cover in detail in this article.
What is the Chase Sapphire Preferred extended warranty?
The Chase Sapphire Preferred extended warranty allows you to extend the warranty for certain products for an additional year on eligible warranties of three years or less, up to a maximum of $10,000 per claim, and a $50,000 dollars maximum per Account.
So the key here is that the warranties need to be of three years or less. What this means practically speaking is that if you have a warranty on a product for say, two years, then Chase will add an additional year to that warranty so that you end up with a total of three years of coverage.
Tip: Use WalletFlo for all your credit card needs. It’s free and will help you optimize your rewards and savings!
How does the warranty compare to other credit cards?
It’s worth noting that while Chase offers superb protections in many categories, other issuers offer solid extended warranty protections, too.
For example, for cards like the Gold Card, American Express willprovide one additional year if the original manufacturer’s warranty is five years or less. They cover you up to $10,000 per claim and up to $50,000 per calendar year which is the same offered by the Sapphire Preferred.
So it is a comparable coverage with the key difference being that you can get coverage up to five years instead of only three years. Personally, if I ever am concerned about an extended warranty, I make sure to make the purchase with an American Express card such as the Gold Card or the Platinum Card.
Not every purchase that you put on your Sapphire Preferred will be covered by the extended warranty coverage. Here are several qualifications for the extended warranty you need to know about:
The warranty covers:
Eligible items with a valid original manufacturer-written U.S. repair warranty of three (3) years or less
Gifts purchased with your Account that meet the terms and conditions
Items purchased outside the United States are covered as long as they are purchased with your Account and the eligible item has either a:
valid original manufacturer-written U.S. repair warranty of three (3) years or less,
a store-purchased dealer warranty, or
an assembler warranty.
It’s worth noting that Chase is one of the few issuers that allows for partial payment for a warranty to kick in but I would recommend trying to put the entire purchase on one card.
The Chase Sapphire Preferred extended warranty terms.
What items are not covered by the warranty?
There are many purchases which are not covered by the extended warranty.
For the most part these are major purchases like boats and vehicles that you probably wouldn’t expect to be covered by the warranty. Other excluded items are specialty equipment like medical devices or any kind of used or pre-owned products.
Boats, automobiles, aircraft, and any other motorized vehicles and their motors, equipment, or accessories, including trailers and other items that can be towed by or attached to any motorized vehicle
Any costs other than those specifically covered under the terms of the original manufacturer- written U.S. repair warranty, as supplied by the original manufacturer, or other eligible warranty
Items purchased for resale, professional, or commercial use
Rented or leased items or items purchased on an installment plan and for which the entire purchase price was not paid in full at the time of the occurrence
Computer software
Medical equipment
Used or pre-owned items
One of the big things to note here is that the costs need to be covered under the terms of the original manufacturer written warranty. If you go buying warranties that didn’t come supplied from the original manufacturer those are not going to count.
Buying a boat soon? Don’t expect an extended warranty with the Sapphire Preferred.
Chase Sapphire Preferred extended warranty for iPhones and iPads
One of the most common uses of the Chase Sapphire Preferred extended warranty is to cover issues on iPhones or other cellular devices. I’ll use the iPhone specifically as an example, though.
Typically an iPhone will come with one of two warranties.
The first is the standard warranty known as the “Apple Limited Warranty coverage.” This warranty lasts for 12 months and covers various manufacturer defects, such as battery issues or defective touch screens.
AppleCare+ gives you expert telephone support and additional hardware coverage for up to two years from the day you bought your iPhone. It also includes Express Replacement Service and up to two incidents of accidental damage coverage. You can read more about Apple Care here.
So if you were to purchase a new iPhone with AppleCare+ and your battery stopped working properly two years after your purchase, the Sapphire Preferred would add an additional year to your iPhone warranty so you’d be covered for that defect even though AppleCare+ would not apply. Update: Some have reported that they’ve been denied coverage so this may no longer be possible.
How do I file a claim?
You can file a claim over the phone by calling the Benefit Administrator phone number at 1-800-874-7702or you can do it online at cardbenefitservices.
I recommend first calling the Benefit Administrator (as soon as something happens) and allowing them to explain the claims process to you and answer any of your questions. If you wait longer than 90 days to notify them about the defect, your claim may be denied.
The phone call should be recorded so if they tell you any misinformation you should be able to refer to the phone call to back up your story.
The process for filing a claim online is pretty straight forward but I’ll walk you through some of the major steps.
First if you’re new to Card Benefit Services, you’ll need to create a new account. Otherwise, you can just log-in.
Once logged in, you’ll be taken to the “Claims Center” where you can initiate your claim by selecting “File a claim.”
You’ll be asked to input your credit card number to continue.
And then you’ll be able to select the type of product you’re claiming coverage on. You can tell that extended warranty coverage for cell phones is popular because it has its own category.
If you don’t select a claim for a damaged or stolen cell phone, you can select file a claim for something else. You’ll then need to input your date to continue.
At this screen you’ll be required to put in very specific details about your product, such as the manufacturer, model number, and serial number. You’ll also need to state the amount that you’re claiming.
After that, you’ll be required to enter the date of product failure and then you’ll need to explain your incident with a max length of 1,000 characters.
At this point you’ll submit your claim but you’ll still need to finish the claims filing process.
You’ll be able to select your preferred method of payment (check or debit card reimbursement). You’ll then be required to upload all of your documents.
The terms state that your claim form must be completed, signed, and returned with all the requested documentation within 120 days of the product failure. Unless otherwise noted, the date of loss shall be the date you first notified the Benefit Administrator.
Once you report an occurrence, a claim file will remain open for six months from the date of the damage or theft. Also, no payment will be made on a claim that is not completed by the Benefit Administrator within six months.
Tip: Use the free app WalletFlo to help you travel the world for free by finding the best travel credit cards and promotions!
What documents do I need?
Your completed and signed claim form for the Chase Sapphire Preferred extended warranty may need:
A copy of your card receipt/bank statement
The itemized store receipt (if more than one method of payment was used, documentation linking the purchase back to the Account must be included)
A copy of the original manufacturer – written U.S. warranty and any other applicable warranty
The original repair order
A description and serial/model number of the item
Other documentation deemed necessary to substantiate your claim like bills and and copies of the maintenance record and receipts
If you don’t have a copy of the warranty, simply contact the manufacturer and they should be able to provide you with one.
You also probably want to keep the damaged product in your custody until your claim is finished processing because it’s possible that they could ask you to send it to them.
Getting repairs
Recall that an eligible repair will be for no more than the original purchase price of the covered item less shipping and handling fees. The Benefit Administrator should be able to guide you to help find a repair store for your product so that you can get an estimate on the repair.
Card Member Services will either pay the facility directly for repairs or you may go to an authorized repair facility and file a claim for reimbursement. They state that only valid and reasonable repairs made at the manufacturer’s authorized repair facility are covered.
So that’s why I recommend checking with the Benefit Administrator before you seek out a repair. It’s possible that if you jump the gun and seek out repairs from an unauthorized facility, you will have to pay for those out-of-pocket.
Getting a new phone
This is probably the most important step to clarify when you’re going through this process for a new phone.
Make sure that you clarify on a recorded phone call conversation with a Benefit Administrator exactly how much you’ll be covered for a new phone. There are reports where people were limited to the refurbished value of their original phone.
Also, if you enroll in a payment plan for your cell phone you probably won’t get coverage — you may need to pay for the phone in full.
So make sure you that you have clear guidance on what you’re covered on and either a paper trail or a recorded conversation that you can rely on if you end up getting denied coverage.
Credit card needs to be active
These warranties can last for years so you need to me mindful about your past purchases when considering cancelling your credit cards. If the card that you purchased your item on is no longer active then you lose your extended warranty coverage.
How long does the Chase Sapphire Preferred extended warranty reimbursement take?
Chase states that under normal circumstances, “reimbursement will take place within five business days of receipt and approval of all required documents.”
Many people have had positive experiences with the Chase Sapphire Preferred extended warranty but don’t be surprised if it takes longer than five business days for your claim to be processed.
Final word
The Sapphire Preferred extended warranty offers potentially valuable protection. The key is to keep good records every step of the way and to make sure that you know exactly what you’ll be covered for. You can do this by constantly checking with your Benefit Administrator to make sure you know what you’re doing.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.
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