Chase Sapphire Preferred Ups Rewards, Devalues Hyatt Transfers

With a freshly revamped Chase Sapphire Preferred card, JPMorgan is giving cardholders a new categories of rewards plus new travel credits and protections all for the same $95 annual fee. But unfortunately for World of Hyatt fans, point transfers have taken a hit. 

Let’s start with the good news, cardholders are getting more benefits for the same $95 price. These benefits begin June 15 and include new rewards categories. Cardholders will earn 3X points on gas and EV charging and 3X points on vacation home rentals from brands such as Airbnb and Vrbo. 

Here’s another travel benefit. Cardholders will receive a $100 Chase Travel Hotel Credit on the account anniversary of their Chase Sapphire Preferred card. Previously $50, this benefit has doubled in value. 

$0$100 Chase Travel Hotel Credit

For help at the airport, cardholders may receive a credit up to $120 to be used toward Global Entry, TSA Precheck or Nexus every four years. The Chase Sapphire Preferred card also comes with emergency evacuation and transportation coverage.

Here is a nice entertainment perk. Cardholders receive a complimentary Apple TV subscription for one year when the service is activated before Dec. 31, 2026. 

Here’s a word from Chase on the changes to the card and why it is a good value for travelers.

“Sapphire Preferred has always been a favorite for travelers and now we’ve made it even better, especially for those who want to earn valuable points quickly and prioritize simplicity and reliability,” said Laura Picciano, General Manager of Chase Sapphire. 

“Whether it’s a nearby road trip or a bigger getaway worth saving for, Sapphire Preferred helps cardmembers turn their spending into travel memories while delivering value well beyond the annual fee.”

But all the news is not good. The transfer ratio for rewards points from Chase to Hyatt has been devalued from a 1 to 1 transfer to a 4 to 3 transfer. For example, with a 4 to 3 transfer, 40,000 Chase Ultimate Rewards points would transfer to just 30,000 Hyatt points. 

With the card refresh, the points transfer ratio for World of Hyatt drops from 1:1 to 4:3.

For customers making these popular transfers, this is a considerable loss. The 1 to 1 ratio with Hyatt remains in effect with the Chase Sapphire Reserve card so frequent Hyatt customers may want to consider switching to this card. But this premium card does come with the much higher annual fee of $795. 

For Sapphire Preferred cardholders, this new 4 to 3 transfer ratio with Hyatt is effective immediately for new cardholders who apply on or after June 15 and to all other cardholders on Oct 1.

Here’s another loss to consider. The 10% Anniversary Bonus Benefit is being discontinued on the Chase Sapphire Preferred card effective immediately for cardholders who apply on or after June 15, 2026. 

For cardholders who applied prior to June 15, eligible purchases made through Oct. 1 will continue to earn the 10% bonus, which will be awarded by Jan. 31, 2027.