After weeks of rumors, it’s official. Changes are coming to the Chase Sapphire Preferred® Card (see rates and fees) — including a negative one pertaining to Hyatt point transfers.
And while the Hyatt news is undeniably bad for some travelers, most of the update is refreshingly positive. Plus, existing cardholders have some time before the changes kick in.
There’s a lot to unpack, so here’s what’s happening with the Chase Sapphire Preferred.
Chase is changing Sapphire Preferred point transfer ratios to Hyatt
One of the biggest strengths of Chase Ultimate Rewards points has long been the program’s simple 1:1 transfer ratios to its 14 hotel and airline partners.
But now, Chase is changing the transfer ratio to the World of Hyatt program from 1:1 to 4:3 for Sapphire Preferred cardmembers.
In practical terms, this means transferring 40,000 Chase points to Hyatt will yield just 30,000 Hyatt points instead of 40,000. That’s a significant devaluation for travelers who regularly transfer the points from their Sapphire Preferred to Hyatt.
The good news? Current Chase Sapphire Preferred cardholders won’t experience this change until Oct. 1, 2026. New cardholders who apply on or after June 15, 2026 will see the new ratio effective immediately.
This change also applies to the Ink Business Preferred® Credit Card (see rates and fees), the legacy Chase Ink Plus and the legacy Corporate Flex card.
No planned transfer ratio changes for Sapphire Reserve cardholders
For those who frequently transfer their Chase points to World of Hyatt, a silver lining from today’s announcements is that the 1:1 ratio remains intact for Chase Sapphire Reserve® (see rates and fees) and Chase Sapphire Reserve for Business℠ (see rates and fees) cardholders.
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Chase shared with TPG that “there are no planned changes to transfers from the Sapphire Reserve at this time.”
If this transfer change is particularly painful for your travel style, you may want to consider the Sapphire Reserve now.
In fact, due to a relatively recent change in card eligibility rules, having the Sapphire Preferred does not automatically disqualify you from getting the Sapphire Reserve and its bonus.
And travelers considering the jump should note that the Sapphire Reserve is currently offering its highest-ever public welcome bonus of 150,000 points after spending $6,000 on purchases in the first three months from account opening.
Related: Am I eligible for the Chase Sapphire Reserve’s 150,000-point bonus?
10% points anniversary bonus is ending
The Sapphire Preferred’s 10% anniversary points bonus, which awarded cardholders a 10% points bonus on their spending each year, will be sunsetted. This essentially added 0.1 points per dollar spent on the card.
For many cardholders, this perk likely sounded more valuable than it actually was. Even if you put $50,000 per year on the card, that would only amount to 5,000 bonus points.
This will be effective immediately for those who apply on or after June 15, 2026. If you applied before that date, purchases through Oct. 1, 2026 will continue to count toward your final 10% anniversary bonus — which will be deposited by Jan. 2027.
Chase Sapphire Preferred card adds new bonus categories
The Sapphire Preferred is getting some new bonus categories.
Starting June 15, 2026, new and existing cardholders will earn 3 points per dollar on purchases at:
- Gas stations
- EV charging
- Vacation home rentals booked at Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa
These are practical everyday spending categories that will likely matter to many cardholders and they’re joining the already impressive lineup of Sapphire Preferred bonus categories, all of which remain intact.
That includes 5 points per dollar for Chase Travel℠ purchases, 3 points per dollar on dining, select streaming services and online grocery store purchases (excludes Target, Walmart and wholesale clubs), and 2 points per dollar on all other travel not booked through the Chase Travel portal (travel is broadly defined by Chase and includes things such as parking, tolls, ferries and campgrounds).
In some cases, those earning rates even outpace the pricier Sapphire Reserve.
Sapphire Preferred card increases hotel statement credit to $100
In a really cardholder-friendly move, Chase is increasing the annual Chase Travel hotel statement credit from $50 to $100 (effective June 15, 2026), making this benefit much more meaningful. In fact, this change means the credit will soon exceed the annual fee.
Unlike many other cards, there’s no minimum stay requirement or spending threshold to use this credit. You simply need to book and prepay for a hotel stay through Chase Travel with the Sapphire Preferred.
For example, you could book a one-night stay at a budget-friendly hotel for $125, and once the credit is applied, you’d effectively spend just $25 out of pocket.
If you’re an existing cardholder and have already used your $50 credit, you’ll get another $50 credit as of June 15. If you haven’t used it, you’ll be eligible for the full $100 credit as of June 15.
$120 statement credit for TSA PreCheck, Global Entry or Nexus added
Also effective June 15, the Sapphire Preferred is adding a new statement credit of up to $120 every four years to cover the application fee for TSA PreCheck, Global Entry or Nexus. The card will now be one of the lowest-annual-fee cards to provide this benefit, which is more commonly found on premium cards.
(Pro tip: Go for Global Entry, since it includes TSA PreCheck as well as priority customs screening arriving back in the U.S.)
Travelers who already have one of those memberships can still use the credit for a friend or family member’s application.
Chase adds new one-year Apple TV subscription
Starting June 15, 2026, Sapphire Preferred cardholders will be eligible to activate a complimentary one-year Apple TV subscription.
To do so, you must link your Apple ID to your card through the Benefits & Rewards section of your account and activate it by Dec. 31, 2026.
Sapphire Preferred now comes with enhanced travel protections
The Chase Sapphire Preferred already has very strong built-in travel protections, such as trip cancellation coverage and trip delay reimbursement, but it is now adding emergency evacuation and transportation protections.
This likely cements the Sapphire Preferred as one of the strongest travel-protection cards in its annual fee range.
Related reading: How my Chase Sapphire Preferred saved me nearly $250 on a canceled trip
No change to the $95 Sapphire Preferred annual fee
Perhaps the most surprising part of today’s announcement is what didn’t change.
With the addition of new and expanded credits, along with more travel protections, you may assume that an annual fee increase is all but inevitable.
I’m very happy to share the Chase Sapphire Preferred is keeping its annual fee at $95 — the same price it has had since launching in 2009.
And with that increased $100 hotel credit to use via Chase Travel, it’s not unreasonable to say that the card can easily pay for itself with very little effort year after year.
Is the Chase Sapphire Preferred better or worse than before?
The million-dollar (or $95?) question is whether the Chase Sapphire Preferred is now a stronger or weaker card than before today’s announcements.
For travelers who rely heavily on Hyatt transfers, these changes are clearly negative. This may even push some people toward the Sapphire Reserve to retain the 1:1 transfer ratio — though it’s worth noting that these redemptions may not be the slam dunk they once were with recent changes to the World of Hyatt’s award chart.
And while points maximizers may feel this change most strongly, the reality is that many Sapphire Preferred cardholders rarely or never transfer their points at all.
Casual or semifrequent travelers primarily want strong bonus categories, useful benefits, straightforward redemptions and a manageable annual fee. Through this lens, the Sapphire Preferred is now even more compelling overall, despite the change in transfer ratio.
And at a time when many travel cards are becoming increasingly expensive and complicated, there’s a strong argument that the Sapphire Preferred just became an even better fit for casual travelers.
To learn more, check out our full review of the Sapphire Preferred.
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