- Sapphire Reserve’s $300 travel credit can also be used to buy groceries and gas through 12/31/20.
- Sapphire Reserve’s points can normally be used at a value of 1.5 cents each towards airfare, hotels, car rentals, and other travel. Through 9/30 they can also be used for statement credits that will reimburse your grocery, dining, and home improvement purchases that were made in the past 90 days at a value of 1.5 cents each. You can click here to redeem your points for statement credits against dining, grocery store, or home improvement purchases.
- Grocery purchases (including Instacart) made this month earn 5 points per dollar on up to $1,500 in spending, plus they qualify for the $300 credit, and you can use points to offset them at a value of 1.5 cents each. You can stack all 3 of these together!
Freedom Unlimited earns 1.5 points per dollar everywhere. By transferring points from that card to Sapphire Reserve you can normally get a value of 2.25% towards paid travel, but now you will get 2.25% back as statement credits to offset for grocery, dining, and home improvement purchases. And that’s on top of earning up to 5 points per dollar and getting $300 back.
Freedom Unlimited also has 0% APR on purchases for 15 months.
That’s quite a combo! When redeeming your points for a statement credit, you’ll effectively earn 2.25% cash back on everything (1.5 points per dollar on Freedom Unlimited), 4.5% cash back on dining and travel (3 points per dollar on Sapphire Reserve), 7.5% cash back on groceries (5 points per dollar on Sapphire Reserve), and 15% cash back on Lyft (10 points per dollar on Sapphire Reserve).
If you don’t have enough grocery, dining, and home improvement purchases to cash out your points you can always buy gift cards for those stores, Visa gift cards good everywhere, or gift cards for hundreds of other stores like Amazon. Plus many grocery stores even give rewards for buying gift cards, on top of the 5 points per dollar, the $300 in credit, and cashing out your points at 1.5 cents each to pay for the gift cards!
You can also upgrade a card to Sapphire Reserve to take advantage of cashing out your points at 1.5 cents each for previous purchases.
Of course this all comes on top of other Sapphire Reserve benefits:
- Ability to transfer all Chase points into airline miles and hotel points, where they can be worth even more than 1.5 cents each.
- Reimbursement of Global Entry/Pre-Check fees.
- $60 Doordash credit in 2020 and 2021, plus you can use points at a value of 1.5 cents each for statement credits even if the purchase was reimbursed.
- Doordash Dashpass membership through 12/31/21, a $9.99/month value.
- Priority Pass lounge membership with 2 free guests and restaurant/food/drink credit.
- Lyft Pink 1 year free membership, a $19.99/month value.
- Free roadside assistance.
- Primary rental car insurance worldwide.
- $10K/item Purchase Protection for for items damaged or stolen within 120 days.
- $10K/item Extended Warranty Protection
- $500/item Return Protection
- Trip Cancellation/Trip Interruption Insurance
- Lost Luggage Insurance
- Baggage Delay Reimbursement
- Travel Accident Insurance
- Emergency Evacuation and Transportation due to injury or illness on a trip
- Repatriation of Remains Insurance
- Emergency Medical and Dental Benefit while traveling