Chase Sapphire Preferred devalues Hyatt transfers from 2026

Chase is shifting the Chase Sapphire Preferred’s World of Hyatt transfer ratio from 1:1 to 4:3 starting Oct. 1, 2026 for existing cardholders. New cardholders applying on or after June 15, 2026 will see the change immediately. Alongside that blow for Hyatt loy

For years, many Chase Sapphire Preferred cardholders relied on a simple promise: transfer Ultimate Rewards points to World of Hyatt at a clean, friendly 1:1 ratio.

That certainty is ending.

After weeks of rumors. Chase has confirmed changes to how Chase Sapphire Preferred® points transfer to the World of Hyatt program. The ratio is moving from 1:1 to 4:3. In practical terms. transferring 40. 000 Chase points to Hyatt will now yield 30. 000 Hyatt points instead of 40. 000—an immediate gut-punch for travelers who routinely move their points to book stays.

The timeline matters. Current Chase Sapphire Preferred cardholders won’t see the change until Oct. 1, 2026. But new cardholders who apply on or after June 15, 2026 will receive the new ratio effective immediately.

Chase is also extending this same transfer-ratio shift to the Ink Business Preferred® Credit Card (see rates and fees), the legacy Chase Ink Plus and the legacy Corporate Flex card.

If you’re holding the Sapphire Reserve, there’s at least some relief. Chase says there are no planned changes to transfers from the Sapphire Reserve at this time. The 1:1 transfer ratio remains intact for Chase Sapphire Reserve® (see rates and fees) and Chase Sapphire Reserve for Business℠ (see rates and fees) cardholders.

Chase’s message reads like a trade-off: a harsher deal for Hyatt transferists, paired with upgrades that make the Sapphire Preferred feel more generous in everyday life. And for many people, that may land more often than one specific transfer workflow.

The card’s 10% points anniversary bonus is being sunsetted. The perk awarded cardholders a 10% points bonus on their spending each year, adding 0.1 points per dollar spent on the card. Chase says this will be effective immediately for those who apply on or after June 15, 2026. If someone applied before that date, purchases through Oct. 1, 2026 will continue to count toward the final 10% anniversary bonus, which will be deposited by January 2027.

At the same time, Chase is expanding what earns more. 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

All of the Sapphire Preferred’s existing bonus categories 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 (excluding Target. Walmart and wholesale clubs). and 2 points per dollar on all other travel not booked through the Chase Travel portal. Chase defines travel broadly, including parking, tolls, ferries and campgrounds.

Then there’s a credit increase that should feel noticeably real the moment you plan a trip. Chase is raising the annual Chase Travel hotel statement credit from $50 to $100, effective June 15, 2026.

Unlike many comparable benefits, there’s no minimum stay requirement or spending threshold. The credit works when you book and prepay for a hotel stay through Chase Travel with the Sapphire Preferred.

For example, a one-night stay at a budget-friendly hotel for $125 could be reduced to an effective $25 out of pocket once the credit is applied.

If you’re an existing cardholder who has 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.

Starting June 15. 2026. the Sapphire Preferred will also add a statement credit of up to $120 every four years for the application fee for TSA PreCheck. Global Entry or Nexus. Chase positions it as one of the lowest-annual-fee cards to include this kind of benefit. which is more commonly found on premium cards. Travelers who already have one of those memberships can still use the credit for a friend or family member’s application.

And for tech-and-entertainment travelers, Chase is layering on a new perk: a complimentary one-year Apple TV subscription, starting June 15, 2026. Cardholders will need to link their Apple ID to their card through the Benefits & Rewards section of their account and activate the offer by Dec. 31, 2026.

On the protection side, the Sapphire Preferred is getting stronger, not louder. The card already included built-in travel protections like trip cancellation coverage and trip delay reimbursement. Now it is adding emergency evacuation and transportation protections. a move that Chase says further elevates the card within its annual fee range.

Perhaps the most important piece for day-to-day budgeting: the Sapphire Preferred’s $95 annual fee is staying put. Chase is keeping it at $95—the same price it has had since launching in 2009.

So where does that leave travelers when the dust settles?. If your travel plans depend heavily on Hyatt redemptions through transfers. the shift to a 4:3 ratio is clearly a negative change. Some cardholders may look toward the Sapphire Reserve to preserve the 1:1 transfer advantage—though even there. redemptions may not feel like the slam dunks some people remember. given recent changes to the World of Hyatt’s award chart.

For casual or semifrequent travelers, the story looks different. The Sapphire Preferred is doubling down on everyday earning categories. a bigger hotel credit that can exceed the annual fee. a TSA PreCheck/Global Entry/Nexus application credit. a one-year Apple TV subscription. and expanded emergency protections—without raising the annual fee.

The card may have lost something for Hyatt loyalists, but it is gaining plenty that can be used without a spreadsheet of transfer ratios. For many people, that kind of practical value may end up mattering more than any single redemption path—especially as travel costs stay stubbornly high.

Chase Sapphire Preferred World of Hyatt Hyatt transfer ratio Ultimate Rewards 4:3 transfer TSA PreCheck credit Global Entry credit Nexus credit hotel statement credit Apple TV subscription travel protections