So, you’ve got yourself a Chase Sapphire Preferred card, and you’ve heard whispers about these “statement credits.” What are they, and how do you actually get these sweet little discounts? Don’t worry, if you’re feeling a bit overwhelmed, I get it. We’re going to break down these Chase Sapphire Preferred statement credits step-by-step, and by the end, you’ll be a pro at using them to your advantage. Think of it as getting rewarded for everyday spending! Let’s dive in and see how we can squeeze the most value out of this card.
Essentially, statement credits are like money back that Chase automatically applies to your account. You make a qualifying purchase, and then Chase reduces your bill by that amount. It’s not cash in your pocket, but it definitely lowers your overall spending. This card has some really cool perks that translate into these credits, and once you know what they are, they’re pretty straightforward to use.
Understanding the Key Statement Credits
The Chase Sapphire Preferred card isn’t just about earning points for travel; it’s also packed with benefits that can save you money on everyday expenses. Let’s look at the main ones and how they work.
The $50 Annual Hotel Credit
This is one of the most straightforward credits. Each year, you get a $50 statement credit when you book hotels through Chase Ultimate Rewards, their travel portal. This isn’t rocket science! When you go to plan a hotel stay, just make sure you’re logged into your Chase account and booking through their portal. The credit will automatically be applied to your statement after the booking is confirmed and charged.
Fact: This credit is based on your cardmember year, not the calendar year. So, if your card opened in March, your $50 credit will reset in March of the following year.
Tip: Don’t overthink it. If you’re going to book a hotel anyway, just use the Chase portal. Even if the price is slightly higher than another booking site, the $50 credit could easily offset that difference, and then some!
DoorDash Perks: More Than Just Food Delivery
This is a really cool one, especially if you’re a fan of food delivery or even grocery services. The Chase Sapphire Preferred card comes with a complimentary DashPass membership, which comes with its own set of statement credits.
Here’s the breakdown:
- Complimentary DashPass: This usually lasts for a certain period (check your card benefits for the exact duration, as it can change). DashPass typically waives delivery fees on eligible orders and reduces the service fees.
- Monthly Statement Credits: Chase often offers a monthly statement credit specifically for DoorDash purchases. This is where you can really rack up savings. For instance, there might be a $10 monthly statement credit for DoorDash.
Fact: To activate your DashPass and take advantage of the monthly credits, you need to add your Chase Sapphire Preferred card to your DoorDash account and activate the benefit through the DoorDash app or website.
Tip: Think beyond just dinner! DoorDash also offers grocery delivery and other essentials. If you use DoorDash for anything during the month, aim to spend enough to trigger that $10 credit. It’s essentially free money if you’re going to order anyway.
Apple TV+ Benefit
For the streaming buffs, Chase has partnered with Apple to offer a special perk: access to Apple TV+. This isn’t exactly a direct statement credit, but it’s a valuable benefit that saves you money on a subscription service.
Fact: This benefit typically includes a period of complimentary Apple TV+ access. You’ll need to activate it through your Chase account or a provided link. Once activated, you can stream Apple Originals without paying for the subscription directly for the promotional period.
Tip: Make sure to set a reminder for when your complimentary period is about to end. If you don’t plan to continue the subscription, cancel it before you get charged to avoid any unwanted fees. It’s a great way to try out a service for free!
Global Entry or TSA PreCheck Credit
This is a fantastic benefit for frequent travelers. The Chase Sapphire Preferred card offers a statement credit to cover the application fee for either Global Entry or TSA PreCheck. These programs expedite your passage through U.S. Customs and Border Protection (Global Entry) or security checkpoints at U.S. airports (TSA PreCheck).
The application fee for Global Entry is currently $100, and for TSA PreCheck, it’s $85. The credit provided by Chase typically covers the full cost of one of these applications.
Fact: You can only receive this credit once every four years per card. So, if you’ve used it recently, you’ll have to wait before you can use it again.
Tip: Decide which program best suits your travel needs. Global Entry includes TSA PreCheck and is geared towards international travelers returning to the U.S., while TSA PreCheck is primarily for domestic and some international flights departing from the U.S. Once you pay the application fee with your Sapphire Preferred card, the credit will automatically appear on your statement.
Putting It All Together: Maximizing Your Savings
The key to getting the most out of your Chase Sapphire Preferred statement credits is to be intentional. Don’t just wait for them to happen; actively plan to use them.
A simple strategy could look like this:
- Plan Your Hotel Stays: Before booking any hotel, check the Chase Ultimate Rewards portal. If the price is competitive, book there to get your $50 credit.
- Embrace Food Delivery: If you’re ordering from DoorDash, make sure you’re signed up for DashPass and are aware of the monthly credit. Try to trigger it every month if you can.
- Enjoy Your Entertainment: Take advantage of the complimentary Apple TV+ access. It’s a great way to discover new shows.
- Future Travel Planning: If you travel often, applying for Global Entry or TSA PreCheck with the card’s credit is a no-brainer.
Here’s a table summarizing the annual and recurring credits:
| Benefit | Type of Credit | Frequency | Approximate Value |
|---|---|---|---|
| Annual Hotel Credit | Statement Credit | Annually (per cardmember year) | $50 |
| DoorDash Benefit | DashPass + Monthly Statement Credit | Monthly (for credit) | $10-$120+ annually (depending on monthly credit value and usage) |
| Apple TV+ | Complimentary Subscription Access | Promotional Period (check terms) | Varies (e.g., $4.99/month) |
| Global Entry/TSA PreCheck | Statement Credit | Once every 4 years | $85 – $100 |
Quote: As one experienced traveler put it, “These credits are like a hidden discount on services I might already be using. It’s all about awareness and incorporating them into my regular spending habits.”
By understanding these statement credits and actively using them, your Chase Sapphire Preferred card becomes more than just a rewards card; it becomes a tool for saving real money on your everyday expenses and travel. It might seem like a small thing, but over time, these credits add up significantly!
