Given how much consumer behavior has changed in the past few months, many of the credit card benefits that members used to appreciate most aren’t as valuable anymore. We’ve seen card issuers get creative with temporary perks, to give members an incentive to keep their cards.
We’ve seen Chase roll out several limited time perks on both the Chase Sapphire Reserve® Card (review) and Chase Sapphire Preferred® Card (review), and we’re now seeing yet another new bonus category.
Earn 2-3x points at grocery stores
Chase Sapphire cards will offer bonus points on grocery store purchases between November 1, 2020, and April 30, 2021, for up to $1,000 worth of spending per month. Specifically:
- The Chase Sapphire Reserve will offer 3x points on grocery store spending
- The Chase Sapphire Preferred will offer 2x points on grocery store spending
This complements the cards offering bonus points on dining and travel at the same rates with no limits.
I value Ultimate Rewards points at 1.7 cents each, so to me that’s like a 3.4-5.1% return on grocery store spending, depending on the card. This makes both of these very well rounded cards, though there are other cards also offering great bonuses on grocery store purchases.
Here’s how Chase defines the grocery store category:
Merchants in the grocery stores category include supermarkets, merchants that offer a full service grocery line of merchandise including a deli and bakery as well as smaller grocery stores. Some merchants that sell grocery items are not included in this category; for example, larger stores that sell a wide variety of goods and groceries, such as warehouse clubs, discount stores and some smaller merchants such as drugstores, and merchants that specialize in only a few grocery items. Purchases made at gas stations from merchants who also operate grocery stores are not included in this category. Delivery service merchants will be included if they classify as a grocery store merchant.
There’s no registration required to take advantage of this perk.
More flexibility with $300 annual travel credit
The Chase Sapphire Reserve offers a $300 annual travel credit, though understandably that’s not as valuable as it used to be, in light of circumstances.
Through June 30, 2021, Chase Sapphire Reserve cardmembers can use their $300 annual travel credit towards gas and grocery purchases as well. This was first announced back in May, but at the time this added flexibility was only valid through the end of December, meaning that it has now been extended by a further six months.
Just a few weeks ago Chase announced that it was extending and expanding its “Pay Yourself Back” feature, whereby card members can redeem points for 1.25-1.5 cents each towards grocery, dining, and home improvement store purchases.
It’s fantastic to see the continued limited perks on the Chase Sapphire Reserve and Chase Sapphire Preferred. While these have historically been travel rewards cards, Chase is doing a great job keeping these cards relevant.
What do you make of the Chase Sapphire offering bonus points on groceries?