As a RewardSmart user, you're all about maximizing every dollar and point. The Chase Sapphire Preferred (CSP) is a cornerstone card for many, celebrated for its robust earning rates on travel and dining, and its valuable transfer partners. However, beyond the points, its suite of statement credits and perks often gets underestimated. When strategically utilized, these benefits can effectively neutralize, or even surpass, the card's $95 annual fee, turning a good card into an exceptional one.

Let's break down how to extract every bit of value from your CSP's key benefits.

The $50 Annual Hotel Credit: Your Gateway to Savings

The CSP offers an annual $50 statement credit for hotel stays purchased through Chase Travel℠. This isn't just a nice-to-have; it's a guaranteed $50 off your annual fee if you use it. To maximize this:

  • Book Smart: Always book your hotels directly through the Chase Travel℠ portal to trigger the credit. It applies to any hotel booking, not just specific brands or luxury properties.
  • Small Stays, Big Impact: Don't wait for a grand vacation. A single night at a budget-friendly hotel for a weekend getaway or a stopover can easily use this credit. If your stay is less than $50, the credit will cover the full cost.
  • Combine with Points: You can use this credit even when paying partially with Chase Ultimate Rewards® points. For example, if a hotel is $100 and you use 5,000 points (worth $50 through the portal), the remaining $50 charged to your card will be covered by the credit, effectively making it a free night.

By simply remembering to book one hotel stay via Chase Travel℠ each year, you've already reduced your effective annual fee from $95 to $45.

DoorDash Perks: Dining Delivered, Discounts Included

Food delivery has become a staple for many, and the CSP enhances this experience significantly. Your card comes with two distinct DoorDash benefits:

  1. Complimentary DashPass: Enjoy a free DashPass membership for at least one year. This waives delivery fees and reduces service fees on eligible orders over a certain amount (typically $12). If you already pay for DashPass, this is immediate savings of about $9.99/month.
  2. $10 Monthly DoorDash Credit: This is a fantastic, often-overlooked perk. Every calendar month, you'll receive a $10 statement credit on DoorDash purchases. This credit is valid through December 31, 2024.

Maximization Strategy:

  • Stack and Save: Combine your free DashPass with the $10 monthly credit. Place at least one DoorDash order each month over $10 and pay with your CSP. The credit will automatically apply. This is an easy $120 in annual savings ($10/month x 12 months).
  • Small Orders Welcome: Don't feel pressured to make a huge order. A quick coffee, a dessert, or a single meal can trigger the credit. Just make sure the total is at least $10 before tips to fully utilize it.
  • Set a Reminder: If you're not a frequent DoorDash user, set a calendar reminder for the last week of each month to place an order and grab your $10 credit before it expires.

Utilizing both DoorDash benefits can easily add over $200 in value annually, making a significant dent in your annual fee.

Global Entry or TSA PreCheck Credit: Expedited Travel, Every 4 Years

For travelers, the CSP offers a statement credit of up to $100 every four years for the application fee for Global Entry or TSA PreCheck. This benefit simplifies airport security and customs, saving you invaluable time.

  • Choose Wisely: Global Entry includes TSA PreCheck, so it's generally the better value if you travel internationally. If you only fly domestically, TSA PreCheck is sufficient.
  • Check Your Expiration: These programs last for five years. If you already have Global Entry/TSA PreCheck, check its expiration date. You can apply the credit towards your renewal fee.
  • Gift the Perk: If you and your primary cardholder already have Global Entry/TSA PreCheck covered by other cards, you can use your CSP to pay for a friend's or family member's application fee. The credit applies to any application fee paid with your card, not just your own.

This benefit provides $100 in value every four years, averaging $25 per year, further chipping away at that annual fee.

Apple TV+ Subscription: Entertainment on Us

The CSP also offers a complimentary 12-month subscription to Apple TV+ for new and returning subscribers, valid through December 31, 2024. This adds another layer of lifestyle value.

  • Activate Promptly: Make sure to activate this benefit through Chase's portal or by linking your card to your Apple ID as instructed by Chase.
  • Enjoy the Content: If you already subscribe, this provides a year of free service. If you don't, it's a great opportunity to explore Apple's original programming without an additional cost.
  • Set a Reminder to Cancel: If you don't wish to continue the subscription after the free year, make sure to set a calendar reminder to cancel before the 12 months are up to avoid being charged.

While the monetary value of this benefit varies based on whether you'd pay for it otherwise, it's a tangible perk that enhances the card's overall proposition.

The RewardSmart Takeaway: Your CSP's True Value

When you combine the $50 hotel credit, the DashPass value (approx. $120/year for 12 months), the $10 monthly DoorDash credits (up to $120/year), and the annual average of the Global Entry credit ($25/year), you're looking at potential annual savings well over $300, not even counting the Apple TV+ perk or the points you earn. This far exceeds the $95 annual fee.

The key is active engagement. These benefits don't just appear; you need to understand them and integrate them into your spending habits. With a little planning, your Chase Sapphire Preferred isn't just a points-earning machine; it's a powerful tool for direct annual savings that makes its annual fee a negligible consideration. Make sure you're getting every penny's worth from your card!