Make sure you maximized the benefits from your Chase Sapphire Preferred

The biggest advantage of having a Chase Sapphire Preferred credit card is the rewards you can earn on spending. Ultimate Rewards are valuable and versatile—they can be used with more than a dozen travel partners to pay for flights, hotel rooms and more. 

The card also gives cardholders a handful of other benefits, including discounts on food delivery, cash back on certain purchases and more. You have to activate these perks to take advantage of them, though. 

Here are the four to activate when you get a brand-new card. 

1) Add it to DoorDash ($120)

Chase Sapphire Preferred cardholders get discounts on food-delivery service DoorDash, with a complimentary one-year subscription to DashPass (normally $10 a month). Delivery fees are waived and service fees are reduced for orders over $12 on DoorDash and its sister app, Caviar. Activate DashPass by making your card the default payment method in your DoorDash account by Dec. 31, 2021. 

2) Link to Lyft (5x points)

The Chase Sapphire Preferred automatically earns 2 points for every dollar spent on ride-share service Lyft, because it’s considered travel spending. But if you connect your card to your Lyft account, you’ll earn bonus points, for a total of 5 points per $1 charged. 

3) Get Going With Peloton ($60)

Peloton is best known for its expensive exercise bikes. But you don’t have to spend thousands of dollars to take advantage of a Peloton workout. The Preferred card gives you up to $60 back on Peloton Digital Memberships (no equipment necessary) or All-Access Memberships (if you have the company’s gear) through the end of 2021.

4) Check for Offers (varies)

Chase gives cardholders statement credits on purchases from a constantly-changing roster of brands. Recent offers include 10% back from a well-known restaurant chain and 20% flower delivery service. You have to add the offers before making a purchase to get the credit; log in to your Chase account to see current deals. 

The Bottom Line

If you want to maximize the value you get from your Chase Sapphire Reserve, make sure to enroll in or activate the various perks and benefits that come with the card. Also remember that those benefits can change over time—for better or worse.