Chase Sapphire cards gain new rewards worth up to 10x points

Posted: 30 June 2020 6:28 pm
News

Chase Sapphire credit cards

More new limited-time rewards suited to everyday spending during the pandemic.

For a limited time, Chase Sapphire cardholders can earn up to 10x rewards on three new categories, according to a Chase announcement on Tuesday. These categories are a continuation of Chase’s efforts, as well as the credit card industry’s efforts as a whole, to shift rewards to evolving consumer spending habits in the face of the ongoing pandemic.

These are just one of many pandemic-related additions Chase has added to the Chase Sapphire Preferred Card and Chase Sapphire Reserve. Other additions Chase added earlier this year included rewards on groceries and DoorDash purchases (now expired), as well as loosened restrictions of purchases that count toward the Reserve’s annual credit.

What are the new reward categories?

Starting July 1st until September 30th, Chase Sapphire Reserve cardholders can enjoy additional perks and rewards on the following:

  • Instacart delivery and pickup orders
  • Gas stations
  • Streaming services

The earning rates and limitations depend on which card you have: the Chase Sapphire Preferred or the Chase Sapphire Reserve.

Reward CategoryChase Sapphire PreferredChase Sapphire Reserve
Instacart3x points on delivery and pickup orders on up to $3,000 during the promotional period.

Up to $50 in statement credits toward an Instacart Express membership

5x points on delivery and pickup orders on up to $3,000 during the promotional period.

Up to $50 in statement credits toward an Instacart Express membership

Gas stations3x points on up to $1,500 during the promotional perio5x points on up to $1,500 during the promotional period
Streaming services5x points on select services on up to $1,500 during the promotional period10x points on select services on up to $1,500 during the promotional period

How do I use these new offers?

You won’t need to activate anything to start earning in these categories. You can simply spend as normal and the points will post to your account accordingly starting on July 1st and ending on September 30th.

Are these new offers worth it?

Since these new reward categories come at no detriment to the card’s existing rewards, they’re a nice value add to an already valuable card. The extra points on gas will likely prove the most valuable for cardholders, though the Instacart points could also add up quickly. Considering the average American only subscribes to about four streaming services, maximizing the earning value of the streaming category will prove more elusive. And since these cards can also transfer Ultimate Rewards points, you could stretch these points even further depending on how you use them.

Here’s a quick look at what you might expect to earn in a month on these categories:

Reward CategorySpend in a monthPoints earned on Chase Sapphire PreferredPoints earned on Chase Sapphire Reserve
Instacart$5501,6502,750
Gas stations$3701,1101,850
Streaming services$80400800

Should you wish to become an Instacart member, the $50 credit also serves to essentially halve the cost of an annual subscription.

Should I apply for a Chase Sapphire card to take advantage?

Given these categories are only available for a limited time, their addition won’t change your mind if you weren’t interested in a Chase Sapphire Preferred or Chase Sapphire Reserve in the first place. But if you’ve been on the fence about these valuable travel cards, now is a great time to take a closer look.

Photo: Chase Credit Cards

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