Breaking Down the New Chase Sapphire Benefits
June 4, 2020
Update: From July 1st to September 30th, Chase is introducing even more benefits!
In response to changing spending habits because of COVID-19, Chase has updated and introduced new temporary benefits for Chase Sapphire Reserve and Chase Sapphire Preferred cards.
Chase Sapphire Reserve
Annual Fee – This impacts renewal cardholders only
If your renewal date in 2020 is between:
Jan 1 to Mar 31 — $450
Apr 1 to Jun 30 — $550 with $100 statement credit
Jul 1 to Dec 31 — $450
New applicants will pay an annual fee of $550.
$300 Travel Credit
Original Benefit: Applied to hotels, ride-sharing, train, and air travel
NEW BENEFIT: Extends to gas and grocery stores from June 1 to December 31
Redeeming Points
Original Benefit: 1.5x value for redemption through the Chase travel portal and 1 cent per point for a statement credit
NEW BENEFIT: 1.5 cents per point for restaurants, grocery stores, and home improvement stores (Available May 31 to September 30, 2020)
Earning Points
- 3x for travel and restaurants
- 10x for Lyft rides
- 5x on Instacart (up to $3000 spend)
- 5x on gas (up to $1500 spend)
- 10x on streaming services (up to $1500 spend)
- This includes Disney+; ESPN+; Hulu; Netflix; Sling; Fubo TV; Vudu; SiriusXM; Pandora, Spotify; YouTube TV
Other Benefits
- $50 in statement credit for Instacart Express membership
- $60 DoorDash credit and DoorDash DashPass for 2020 and 2021
- Lyft Pink membership
Chase Sapphire Preferred
Redeeming Points
Original Benefit: 1.25x value for redemption through the Chase travel portal and 1 cent per point for a statement credit
NEW BENEFIT: 1.25 cents per point for restaurants, grocery stores, and home improvement stores (Available May 31 to September 30, 2020)
Earning Points
- 2x for travel and restaurants
- 5x for Lyft rides
- 3x on Instacart (up to $3000 spend)
- 3x on gas (up to $1500 spend)
- 5x on streaming services (up to $1500 spend)
- This includes Disney+; ESPN+; Hulu; Netflix; Sling; Fubo TV; Vudu; SiriusXM; Pandora, Spotify; YouTube TV
Other Benefits
- $50 in statement credit for Instacart Express membership
- DoorDash DashPass for 2020 and 2021