How does the Chase Sapphire Reserve Global Entry benefit work?

Yes, Chase Sapphire Reserve is worth its $550 annual fee if you spend at least $4,000 in the first 3 months and qualify for the card’s initial bonus of 60,000 points. Frequent travelers will also get a lot of value out of Chase Sapphire Reserve because it comes with a $300 annual travel credit and good ongoing rewards.… read full answer

Chase Sapphire Reserve Worth: Key Considerations

• You earn 1 - 10 points / $1 spent on purchases, including 10 points / $1 spent on select travel expenses.
• You’ll have an opportunity to earn an initial bonus of 60,000 bonus points for spending $4,000 in the first 3 months.
• Chase Ultimate Rewards Reserved points are worth 50% more than usual when you redeem them for travel through Chase Ultimate Rewards Reserved.
• There are several types of travel insurance, including a $1 million benefit for serious injury or death.
• You get a Priority Pass Select airport lounge membership that would usually cost $429 a year.
• You’ll receive a $300 travel credit each account anniversary year.

Tips for Getting the Most Out of Chase Sapphire Reserve

Chase Sapphire Reserve’s attractive features are only worth it if you travel frequently and have the excellent credit needed to get approved. You’ll also need to earn enough rewards – or utilize enough of the card’s other perks – to make it worth owning.

For example, if you make the most of the Priority Pass membership ($429 annual value), along with the $300 annual travel credit, you’d recoup the entire annual fee. That shouldn’t be hard for frequent travelers to do every year. And the more benefits you take advantage of, the less you need to spend to break even.

Finally, in order for Chase Sapphire Reserve to be worth it, it’s important to pay the bill in full each month. Otherwise, you’ll end up paying a 21.24% - 28.24% (V) interest rate on the unpaid balance, which will decrease the overall value of the card’s perks and rewards.

More moderate spenders looking for a travel rewards card without the huge annual fee should check out our editors’ picks for the best travel rewards credit cards to help narrow the search.

To maximize your Chase Sapphire Preferred rental car insurance benefit, decline the rental car company’s coverage and charge all car rentals to your card. This benefit covers damage due to a collision or theft, up to the actual cash value of the rental car. Chase Sapphire Preferred also awards cardholders with 2 points per $1 spent on car rentals, and you should make sure to redeem for travel to get maximum value.… read full answer

Chase Sapphire Preferred’s rental car insurance coverage isn’t too complicated, but there are a few more things you should know before relying on it.

How to Get the Most Out of Chase Sapphire Preferred Rental Car Insurance

Decline the Rental Agency’s Insurance

To get the Chase Sapphire Preferred rental car insurance coverage, you must decline the rental agency’s insurance. Plus, you have to pay for the rental entirely with your Chase Sapphire Preferred credit card.

Remember that Coverage Extends to Other Drivers

The Chase Sapphire Preferred rental car insurance benefit covers the cardholder but it also extends coverage to other drivers. More specifically, it covers:

• Any additional driver listed on the rental agreement.
• Authorized users on your Chase Sapphire Preferred card who rent with their card.
• Any additional driver listed on the authorized user rental agreement.

At this point, it’s also worth noting that Chase doesn’t charge extra for adding an authorized user to your Chase Sapphire Preferred card.

Avoid Types of Vehicles and Incidents that Aren’t Covered

Please note that quite a few vehicles are not covered by the Chase Sapphire Preferred rental car insurance, like expensive, exotic, and antique automobiles. Coverage also does not apply to trucks, mopeds, or motorcycles. Other things that aren’t covered include personal injury, loss of personal belongings, and situations like driving while intoxicated or driving off-road.

Coverage on Chase Sapphire Preferred Is Primary

The Chase Sapphire Preferred card offers primary rental car insurance coverage. This means that you do not have to file a claim with another insurance company first. The coverage is provided on a primary basis both in the U.S. and in most countries abroad and covers rentals for up to 31 consecutive days.

Know How to File a Claim

You have up to 60 days after a covered incident to report it. However, it’s better to do it as soon as possible. You may be charged immediately by your rental car company, so you’ll want to start the process quickly.

Here’s how to file a Chase Sapphire Preferred rental car insurance claim:

1. Call the Benefit Administrator at (888) 320-9961 or visit eclaimsline.com within 60 days of the covered incident to report it and obtain a claim form.
2. Submit the claim form within 100 days of the incident.
3. Provide any supporting documents such as a police report no later than 365 days after the incident.
4. Receive the insurance payment roughly 15 business days after providing all documents and having your claim validated.

If, at any point, you face difficulty in using your Chase Sapphire Preferred’s rental car insurance benefit, you can ask for assistance from your Benefit Administrator by calling (888) 320-9961.

Ultimately, it’s a good idea to check if there’s any existing damage on the car you rent before driving away from the agency. If you find any damage, get written documentation of it so that you are not held liable.