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Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
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Chase Sapphire Preferred adds new perks and bonus categories, cuts Hyatt transfer ratio
Summer Hull has been covering (and using) travel tips, rewards credit cards and loyalty programs for over a decade. She has flown close to a million miles, often on points and miles and with her family in tow.
June 10, 2026 • 8 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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Quick summary
A popular travel rewards card is updating its benefits and transfer policies, with both positive and negative changes.
The transfer ratio to a major hotel loyalty program will shift from 1:1 to 4:3 for most cardholders starting October 2026, reducing the value of transferred points.
New bonus categories, including gas stations, EV charging and vacation home rentals, will be added, enhancing everyday earning potential.
Additional perks include an increased hotel statement credit, a new travel security credit, a complimentary streaming subscription and expanded travel protections.
What to consider
The new transfer ratio to the hotel loyalty program takes effect for existing cardholders on October 1, 2026, and immediately for new applicants after June 15, 2026.
A 10% anniversary points bonus is being discontinued for applications after June 15, 2026, but current cardholders can still earn a final bonus through October 2026.
The annual hotel credit will double to $100, and a new $120 credit for travel security programs will be available every four years.
What you'll miss from the article
A detailed breakdown of how these changes impact different types of travelers and strategies for maximizing value under the new structure.
Generated by AI with support from our editorial team.
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
But now, Chase is changing the transfer ratio to the World of Hyatt program from 1:1 to 4:3 for Sapphire Preferred cardmembers.
Park Hyatt Kuala Lumpur. ERIC ROSEN/THE POINTS GUY
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.
Chase shared with TPG that “there are no planned changes to transfers from the Sapphire Reserve at this time.”
TANNER SAUNDERS/THE POINTS GUY
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.
Our math shows that if you regularly transfer around 60,000 points from Chase to Hyatt each year, the math is very possibly in your favor with the Sapphire Reserve added to your wallet than without.
The Sapphire Reserve is currently offering 100,000 points after spending $6,000 on purchases in the first three months from account opening.
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
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.
AIRBNB
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.
GISELLE GOMEZ/THE POINTS GUY
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.
SEAN CUDAHY/THE POINTS GUY
(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.
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.
THE POINTS GUY
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.
Chase Sapphire Preferred: Earn 75,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
