The Chase Sapphire Preferred has been one of my go-to cards for years. For a $95 annual fee, it comes with a robust package of perks and benefits, making it a great entry-level card into the world of points and miles. And if you’re a points maximizer, it’s been a keeper for those 1:1 points transfers to 14 airline and hotel partners.
But now, some of that is about to change. World of Hyatt lovers, you may want to be seated for this one.
*When applying through my referral link, please use a new browser window. Don’t log in, if prompted and apply as a guest. That’s how it credits it back to me, appreciate the support!*
New Benefits
Let’s first take a look and the new benefits that have been added:
- 3x Points on Gas and EV Charging
- 3x Points on Direct Vacation Rental Bookings – Note: If you book direct on a platform like Airbnb, Vrbo, or Vacasa, for example, you earn 3x the points. If you book the same property through Chase travel you still get 5x.
- $100 Chase Travel Hotel Credit – This card used to give a $50 statement credit for hotel bookings made through Chase Travel; now it’s $100.
- $120 Global Entry, TSA PreCheck, or NEXUS Credit – You’ll receive one statement credit of up to $120, every four years towards the application fee for one of these programs. For comparison’s sake, only the Capital One Venture, matches this benefit at a similar fee.
- One Year of Apple TV – Cardholders a complimentary Apple TV subscription for one year if activated by December 31, 2026. Activate through the Benefits & Rewards section on Chase.com or in the Chase mobile app.
- Emergency Evacuation & Transporatation Coverage – This card did already come with trip cancellation up to $10,000 per traveler, trip delay reimbursement, and primary auto rental coverage. Now, this new emergency evacuation benefit covers up to $100,000 in medical evacuation and transportation services.
Here’s the good part: The annual fee is NOT changing, and will remain at $95. Phew!
The Bad News: Hyatt Devaluation
There’s no easy way to slice this, so here it is. Chase Ultimate Rewards will no longer transfer to World of Hyatt at a 1:1 ratio. Points transfers will now be at a 4:3 ratio.
Hyatt lovers, I’ll allow you a moment, or two, there.
Cards & Key Dates to Remember
10% Anniversary Boost Also Going Away
The Sapphire’s Preferred’s 10% anniversary bonus is going to be discontinued. Previously, cardholders received a bonus equal to 10% of base points earned over the prior year. For existing cardholders, eligible purchases made through October 1, 2026 will still earn the bonus, which will be awarded by January 31, 2027.
If you’re a new cardholder, that applies on or after June 15, 2026, the benefit is gone immediately.
My Thoughts & Strategy
I do appreciate the new benefits added on to the Preferred card. For starters, we drive a lot; earning more on gas and EV charging (we have an electric car) would be great. And now the package of perks and benefits – for an entry-level, $95 annual fee card, got even more robust.
But, devaluing the Hyatt points transfer ratio, removes a huge reason why this card has always been deemed “beginner-friendly”: the award redemptions!
Transferring Chase points to Hyatt has always been a great way to maximize Chase points, for beginners and loyalists alike. Families like mine who need to book two rooms, have received significant savings on hotel stays. I’ve booked multiple $0 Hyatt stays over the years thanks to Chase points!
With this points transfer devaluation, the recent Hyatt award chart changes, and lifetime language added to Chase personal and business card products, I feel this particular (Hyatt + Chase) train is coming to an end (for me atleast) much faster than I would like.
Just earlier this month, I added the Reserve to my wallet because I didn’t want to miss the 150K bonus points offer. You can now hold both Sapphire products at the same time. I knew this was the time for me to go for it, since I’ve never earned a bonus on the Reserve. *Remember, lifetime language allows you to earn the bonus only once on each Sapphire product.*
I am leaning towards keeping the Reserve long-term because:
- I want to keep the 1:1 Hyatt points transfer ratio.
- A new Chase lounge is opening at DFW airport. The Reserve will allow me to take in 2 guests for free.
- I occassionally book travel through a bank’s travel portal. When booking through Chase Travel, I’ll earn 8x the points.
These are my initial reasons for keeping the Reserve long-term. While the $300 travel credit on this card will be easy enough for me to use, the other hotel credits will require some additional strategy and effort.
What You Should Do
- If you currently hold a Sapphire Preferred, you have until October 1, 2026 before the new, 4:3 Hyatt transfer ratio affects you. Don’t do any speculative transfers, but if you’ve been eyeing some award redemptions, I’d lock them in sooner than later!
- If you hold a Reserve, these changes don’t affect you.
- If you’re new to the points and miles space – the Preferred is still a strong starting card. While Hyatt award redemptions were always a great value (because of the 1:1 ratio), there are multiple other transfer partners, along with the Points Boost option in Chase Travel.
Additional Tips for World of Hyatt Loyalists
You can apply for:
- The Chase Ink Business Preferred, before October 1: The 1:1 transfer rate for new Ink Preferred applicants stays through October 1, 2026.
- Chase Sapphire Reserve (if you’ve never held one) – This card will retain the 1:1 points transfer ratio.
- Chase Sapphire Reserve for Business (if you’re never held one) – This card will also retain the 1:1 points transfer ratio.
In Sum
Chase Sapphire Preferred is keeping the $95 annual fee, while adding in perks and benefits. This card has always been a great entry point into Chase Ultimate Rewards. And if you’re new, and aren’t a Hyatt loyalist, you won’t feel this devaluation as much.
But for the Hyatt loyalists and points maximizers, this hits hard.
This card “refresh” is essentially a push from Chase to hold their more premium products, and you’ll need to assess which ones, if any, are right for you.
Related: How to use Chase Ultimate Rewards for Umrah travel
