The Chase Sapphire Preferred Card offers a valuable benefit in exchange for its modest $95 annual fee: an up to $100 annual hotel statement credit. This credit can be used to offset the cost of prepaid hotel stays booked through the Chase Travel portal.
To take advantage of this benefit, log in to your Chase account on your device and select the "Travel" option on the right-hand side of the screen or the "Book travel" icon on the mobile app. Once you're in the Chase Travel portal, make sure your Sapphire Preferred is selected and browse available hotels for your destination and dates.
One way to use the $100 hotel statement credit is to book a one-night getaway. For example, I used the credit to pay for a stay at the Atlanta Marriott Alpharetta, which cost $135 per night. With the credit, I paid just $35 out of pocket.
The credit can also be used to reduce the cost of a longer hotel stay. To find a less expensive option, filter by your minimum and maximum nightly price on the Chase Travel portal. This way, you can find stays that really pack a punch when you apply the card's $100 credit.
It's worth noting that you must use your Sapphire Preferred and book through the Chase Travel portal to receive this credit. You won't earn it if you book directly with the hotel or through another website.
The terms and conditions of the benefit state that a statement credit (up to an annual maximum of $100) will automatically be applied when your card is used for hotel accommodation purchases made through Chase Travel. The credit should hit your account within three business days, but it may take up to four weeks.
Considering the $100 hotel credit on the Sapphire Preferred has virtually no restrictions except that you need to book your stay on the Chase Travel portal, it's a no-brainer. It effectively offsets the card's annual fee and can be used to maximize your travel rewards.
Whether you use the credit for a one-night getaway, a stopover during a longer trip, or part of a larger vacation, it can easily offset the card's $95 annual fee. Just remember that the benefit resets each account anniversary year rather than each calendar year, so it's worth keeping track of when your account was opened.
The Sapphire Preferred's up to $100 annual hotel credit is one of the easiest statement credits to maximize. Combined with the card's strong earning rates, valuable transfer partners, and current 100,000-point welcome offer, it's one of the most compelling benefits on a mid-tier travel rewards card.
