The and have been very popular for their generous travel and dining perks, but right now travel and dining aren’t really happening. Chase has wisely adjusted their rewards program for this new environment, in addition to the recently-added Doordash benefits. I will definitely be taking advantage of these new earning perks, although I’m still leaning slightly towards keeping my points to redeem toward a Hyatt hotel vacation one day…
- 3x points at grocery stores. Earn 3x total points on grocery store purchases from May 1 to June 30, 2020, on up to $1,500 each calendar month. No activation required. Includes Instacart.
- Redeem Ultimate Rewards points at 1.25 cents per points towards grocery store, dining, and home improvement purchases. (Previously only travel through their portal.) “With the Pay Yourself BackSM tool, your Ultimate Rewards® points are worth 25% more when you redeem them for statement credits against purchases in our current categories: grocery stores, dining (including restaurants, takeout, and eligible delivery services), and home improvement stores such as Home Depot® and Lowes®. Just choose an eligible purchase you made in the past 90 days, apply points for all or part of the purchase, and you’ll get a statement credit. Take advantage of this promotion through September 30, 2020.1”
Since you can earn at 3 points per dollar spent and redeem at 1.25 cents per point at the grocery store, this is effectively makes the Sapphire Preferred a 3.75% cash back card towards groceries (up to $1,500 in purchase each month until 6/30/20). Keep in mind that you can buy many types of gift cards at grocery stores as well, including Amazon.
- 5x points at grocery stores. Earn 5x total points on grocery store purchases from May 1 to June 30, 2020, on up to $1,500 each calendar month. No activation required. Includes Instacart.
- Redeem Ultimate Rewards points at 1.5 cents per points towards grocery store, dining, and home improvement purchases. (Previously only travel through their portal.) “With the Pay Yourself BackSM tool, your Ultimate Rewards® points are worth 50% more when you redeem them for statement credits against purchases in our current categories: grocery stores, dining (including restaurants, takeout, and eligible delivery services), and home improvement stores such as Home Depot® and Lowes®. Just choose an eligible purchase you made in the past 90 days, apply points for all or part of the purchase, and you’ll get a statement credit. Take advantage of this promotion through September 30, 2020.”
- $300 annual travel credit counts towards gas station and grocery store purchases. “Now enjoy more flexibility with your annual $300 Travel Credit. From June 1 through December 31, 2020, gas station and grocery store purchases will also count toward earning your Travel Credit. You’ll also earn points on these purchases (and, as always, after your first $300 in travel purchases, you’ll immediately start earning 3x points on travel).”
- Annual fee renewal $100 discount. Sapphire Reserve annual fee renewals through the end of 2020 will be $450 instead of the normal $550. This is only for renewals, not new cardmembers.
Since you can earn at 5 points per dollar spent and redeem at 1.5 cents per point at the grocery store, this is effectively makes the Sapphire Reserve a 7.5% cash back card towards groceries (up to $1,500 in purchases each month until 6/30/20). Keep in mind that you can buy many types of gift cards at grocery stores as well, including Amazon.
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