Really big news today on TPG’s No. 1 recommended travel rewards card. Chase just announced major updates to the Chase Sapphire Preferred® Card, including the card’s earning rates, redemption setup, built-in perks and more — let’s jump straight into the biggest changes (but spoiler alert: the annual fee is not changing. I repeat, not changing).
Bad news first — especially for Hyatt fans
Let’s rip off the Band-Aid and start with the biggest shock of the day: the points transfer ratio to World of Hyatt is getting worse. This change won’t kick in until October 1 for existing cardholders, but new cardholders as of June 15 will see it immediately.
This marks the first time a Chase transfer partner has not had at least a 1:1 transfer ratio.
This is undeniably bad news, but thankfully, this new ratio does not apply to the Chase Sapphire Reserve®. It’s more of a differentiation between cards than an across-the-board Chase change.
If Hyatt transfers are a huge deal for you (like they are to me), know that the ratio for the Sapphire Reserve card remains 1:1 with “no planned changes at this time,” according to Chase. (And that card is still letting you earn a massive 150,000-point welcome bonus after you spend $6,000 on purchases in the first three months from account opening.)
The Sapphire Reserve limited-time offer ends at 9 a.m. EDT on June 15, making this actually great timing if you really dislike this Hyatt change and want to grab that card.
Increased annual Chase Travel℠ hotel credit: $100 every account anniversary for prepaid hotel bookings (was $50) — this benefit alone covers the card’s annual fee!
New: $120 Global Entry, TSA PreCheck, or NEXUS credit every four years
Enhanced travel protections
For a complete breakdown of all the Sapphire Preferred changes and what they actually mean for the card’s long-term value, check out our full analysis.
But if you’re ready to make the jump to Chase’s premium Sapphire Reserve card (and 1:1 Hyatt transfers) while it still has its best-ever 150,000-point bonus offer, don’t wait! Time is running out — this offer ends June 15 at 9 a.m. EDT, so act fast.
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