Chase Sapphire Preferred® Card Benefits for Military Members

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For service members who travel frequently, the card_name can be a valuable addition to your wallet with generous point awards tailored for travel, a solid introductory and annual anniversary bonus, and a loyalty program that lets you transfer your Chase points to several other well-known air and hotel providers.

Although it may take some time to learn how to maximize your benefits, and there is a annual_fees annual fee, the Chase Sapphire Preferred Card is worth a look for military members on the go. 

Overview of the Chase Sapphire Preferred Card

The card_name offers up to 5x points for every dollar spent on travel booked through Chase Ultimate Rewards and 2 points per $1 on all other travel. That translates to 2.5% – 6.25% cash back when redeeming for Ultimate Rewards travel or 2% – 5% cash back for a statement credit.

Service members can also bonus_miles_full Using Chase’s travel portal to redeem those points equates to $750 in travel booked through Chase or a $600 statement credit.

That more than offsets the $95 annual fee. Even more impressive is that you can redeem points on a 1:1 basis with a dozen airline and hotel loyalty partners for maximum flexibility.

You can earn 3 points per $1 on dining, including eligible delivery services and takeout, select streaming services, and many online grocery purchases. This card also gives 1 point per $1 spent on most other purchases.

Like other Chase cards, the card_name also has several other outstanding perks, including Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Baggage Delay and Lost Luggage Insurance, a $50 annual Ultimate Rewards Hotel Credit, and other similar offers.

You will need excellent credit with a FICO score of at least 690 or higher to increase your chances for approval, but if you are approved, you’ll enjoy at least a $5,000 minimum line of credit.

»MORE: Learn more about the Chase Sapphire Preferred® Card here

How the Chase Sapphire Preferred Card Supports Service Members and Veterans

If you’re an active duty service member or a veteran who travels quite a bit, you’ll rack up considerable benefits when using the card_name if you’re willing to use Chase’s travel portal to book. What is also nice is that in addition to airfare and hotel stays, you can earn bonus rewards on parking garage fees, bus fares, and charges from rideshare companies like Uber. 

These bonus rewards can be earned worldwide, not just for travel and dining in the U.S.; they can be earned worldwide. You can also minimize travel costs because this card has no foreign transaction fee.

If you’re a service member with a family, you can find great deals and transfer your accumulated points to several top-notch loyalty partners with a 1:1 redemption rate. That makes it easy to shop for summer vacations when your kids are out of school or if you want to take trips to see relatives for major holidays.

You should also be aware of the Military Lending Act as a service member.

Federal law provides important protections to Armed Forces members and their dependents relating to extensions of consumer credit. Generally, the cost of consumer credit to an Armed Forces member and their dependents may not exceed an annual percentage rate of 36%.

This rate must include, as applicable to the credit transaction or account: the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than specific application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account).

»MORE: See all Chase Sapphire Preferred® Card benefits and perks here

Benefits & Perks of the Chase Sapphire Preferred for Military Cardholders

The card_name has many benefits and perks for cardholders.

• bonus_miles_full
• 5 points per $1 spent on all travel purchased through Chase Ultimate Rewards.
• 3 points per $1 spent on dining (including eligible delivery services and takeout).
• 3 points per $1 spent on select streaming services.
• 3 points per $1 spent on online grocery purchases (not including Target, Walmart and wholesale clubs).
• 2 points per $1 spent on travel not purchased through Chase Ultimate Rewards®.
• 1 point per $1 spent on other purchases.
• $50 annual Ultimate Rewards Hotel Credit
• Trip Cancellation/Interruption Insurance
• Auto Rental Collision Damage Waiver
• Baggage Delay and Lost Luggage Insurance
• Complimentary access to DashPass, which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
• 5 points per $1 spent on eligible Peloton purchases (with a maximum earning of 25,000 points) through March 2025 
• 5 points per $1 spent on Lyft through March 2025 
• Six months of complimentary Instacart+ when you activate by July 31, 2024
• Complimentary membership for DoorDash and Caviar for a minimum of one year when you activate by December 31, 2024
• Receive a $10 monthly statement credit from Gopuff. This promotion runs through December 2023.
• $0 Foreign Transaction Fees

On your account anniversary, you’ll earn bonus points equal to 10% of total purchases made the previous year.

Enjoy 1:1 transfer options with Chase’s transfer partners. You can transfer your Chase Ultimate Rewards points into that partner’s loyalty program and pounce on that deal.

Chase transfer partners include:

Airlines

Aer Lingus 

Air Canada 

Air France-KLM 

British Airways 

Emirates 

Iberia 

JetBlue 

Singapore 

Southwest 

United 

Virgin Atlantic 

Hotels

Hyatt 

InterContinental Hotels Group 

Marriott 

How to Earn and Redeem Rewards with the Chase Sapphire Preferred

You accumulate points for various categories, as noted above. As long as your account is open, your points won’t expire. There’s no limit to the number of points you can earn. Occasionally, Chase may offer bonus rewards in specific categories for a limited time.

Chase Ultimate Rewards points earned on this card are worth 1.25 cents each when redeemed for travel booked through Chase for airfare, hotels, rental cars or cruises, and more. Using points this way, or transferring them to travel partners, is key to getting the most value from this card. 

You can also use points to get cash back, gift cards, and merchandise.

»MORE: Learn more about Chase Sapphire Preferred® Card rewards

Chase Sapphire Preferred Credit Limit

Chase will review your credit report and the information you provide when you apply to confirm that you meet the criteria to be issued a card. Based on this review, you may receive a card with different costs, or you may not receive a card.

However, if you’re approved for an account, your credit access line will be at least $5000.

Annual Fees and Rates for the Chase Sapphire Preferred Card

The annual membership fee is annual_fees.

foreign_transaction_fee foreign transaction fee.

APR on purchases is a reg_apr,reg_apr_type rate based on your creditworthiness and other factors. These APRs will vary with the market based on the Prime Rate.

Your due date on purchases will be a minimum of 21 days after the close of each billing cycle. You will not be charged interest on new purchases if you pay your entire balance or Interest Saving Balance by the due date each month.

Chase will begin charging interest on balance transfers and cash advances on the transaction date.

APR on balance transfers is reg_apr,reg_apr_type. The balance transfer fee is balance_transfer_fees These APRs will vary with the market based on the Prime Rate.

The total amount of your request balance transfer requests, including fees and interest charges, cannot exceed your available credit or $15,000, whichever is lower. Chase does not process any balance transfer requests from any other account or loan that JPMorgan Chase Bank or affiliates issued.

Each transfer will reduce your available credit just like any other transaction. You will see payment for the amount transferred on the statement from your other accounts.

Cash Advance APR on cash advances is cash_advance_apr. This APR will vary with the market based on the Prime Rate. The fee is $10 or 5% of the amount of each transaction, whichever is greater.

Penalty APR is up to cash_advance_apr. This APR will vary with the market based on the Prime Rate.

A penalty APR may be applied to an account if you fail to make a minimum payment by the date and time that it is due or make a payment that is returned unpaid. You can also be charged a late payment or returned payment fee of up to $40.

»MORE: See all Chase Sapphire Preferred® Card rates and fees here

How to Get Approved for the Chase Sapphire Preferred Card

You’ll need a FICO score of 690 or higher to greatly improve your chances of approval for the card_name. Chase will also consider your income, debts, credit history, and other factors in deciding whether to issue you a card.

You must also be 18 (19 in Alabama and Nebraska; 21 in Puerto Rico) and have a Social Security number or Individual Taxpayer Identification Number (ITIN). Also, you are not eligible for approval if you have a Chase Sapphire card or earned a Chase Sapphire initial bonus in the past 48 months.

Applicants must have a permanent home address in the 50 U.S. states, D.C., Guam, Puerto Rico, or the U.S. Virgin Islands. U.S. military addresses also qualify for the address requirement.

There is no specific Chase Sapphire Preferred income requirement,s but they are required by law to consider a new cardholder’s ability to make the minimum monthly payments on their assigned credit line.

You must also fall within approval parameters using Chase’s 5/24 rule. To be approved for a Chase credit card, you must have fewer than five approvals for credit cards within the last 24 months.

When you apply for a Chase credit card, Chase will count the card you’re applying for as part of your allowed five approvals. Business credit cards not appearing on your credit report will not count toward your 5/24 score.

Mortgages, auto loans, student loans, credit cards you were not approved for, and some small business cards do not contribute to your 5/24 score. If you have been added as an authorized user on another individual’s credit card, you can ask Chase to exclude that card from your 5/24 count. 

»MORE: Learn how to apply for the Chase Sapphire Preferred® Card here

Conclusion: Is the Chase Sapphire Preferred Card Right for You?

If you’re an active duty or veteran service member who travels often or wants to get a great deal on future travel, such as a vacation with your family, the card_name is a great choice. However, while the introductory and anniversary offers and points categories are generous, they can be complicated.

And the best rewards and redemptions are tightly closely to the Chase Ultimate Rewards travel portal or to transferring points to a different loyalty program.

It does require some patience to master all that this card offers, but if you travel frequently, don’t mind paying a annual_fees annual fee, and want to take advantage of high-value points, this is a card you should consider.

_{Veteran.com has partnered with CardRatings for our coverage of credit card products. Veteran.com and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on Veteran.com are from advertisers. Compensation may impact how and where card products appear, but does not affect our editors’ opinions or evaluations. Veteran.com does not include all card companies or all available card offers.}