Chase Just Cut the Hyatt Transfer Ratio for Sapphire Preferred Cardholders
What changed, who it affects, when it kicks in, and whether the card still makes sense.
This one dropped today. If you have a Chase Sapphire Preferred or have been thinking about getting one, read this.
Chase announced a big refresh of the Sapphire Preferred. Some good stuff in there: Global Entry credit, Apple TV. But buried inside is a change that hits the Hyatt transfer ratio pretty hard.
The transfer ratio from Chase Ultimate Rewards to World of Hyatt is changing from 1:1 to 4:3 for Sapphire Preferred cardholders. That means 40,000 Chase points now becomes 30,000 Hyatt points instead of 40,000. A 25% cut.
Who this affects and when
There are two different timelines depending on whether you already have the card.
If you already have the Sapphire Preferred, you have until October 1 at the current 1:1 ratio. If you’ve been sitting on Chase points you planned to move to Hyatt, now is the time to do it.
What it looks like in real numbers
15,000 Hyatt points can be one or two free nights at a Category 1-4 property. That’s real money. This is not a small change.
Why Chase did this
Chase wants a clearer line between the $95 Sapphire Preferred and the $795 Sapphire Reserve. Keeping Hyatt 1:1 locked to the Reserve gives people a reason to consider the upgrade. They know exactly how much people love that transfer.
If you hold any other Chase card that still transfers to Hyatt at 1:1, like the Chase Sapphire Reserve or certain older Chase cards, you can pool your Ultimate Rewards points there first and then transfer to Hyatt from that card at the better ratio. This only works if you actually hold one of those cards. If you only have the Preferred, the workaround doesn’t apply to you.
Does this change whether the Sapphire Preferred is worth it?
For most families, no. Here’s my honest take.
Hyatt was always the best transfer Chase had, and today it got a little less good for Preferred cardholders. But the card still has 13 other transfer partners: Southwest, United, Air France/KLM, Marriott, and more. All at 1:1. It still earns 3x on groceries and dining. The welcome bonus is still 75,000 points. The annual fee is still $95. The rental car coverage, trip delay protection, and no foreign transaction fees are all still there.
If your entire strategy was Chase points to Hyatt, this one hurts more than it would for most people. But if you’re a family using points across multiple programs and trips, the Preferred still does most of what it always did.
I already have the card so I have until October 1 at 1:1. I’m going through my Chase balance and figuring out if there are any Hyatt stays we want to book before that date. After October I’ll lean more on Southwest and United for Chase transfers and use Hyatt points I earn through direct spending there. The Preferred stays in my wallet.
What else changed with the refresh
The refresh wasn’t all bad. Starting June 15, new and existing cardholders also get:
Up to $120 in Global Entry, TSA PreCheck, or NEXUS credit every four years
One year of complimentary Apple TV (activate by Dec 31, 2026)
Annual fee stays at $95
The Global Entry credit is actually useful. That’s a $100 value on its own. Combined with the $50 hotel credit, you can offset the fee before you earn a single point.
If you’re still thinking about opening the Sapphire Preferred, the 75,000-point welcome bonus is still live. Use my link and it doesn’t cost you anything extra.
Apply with Amy’s link →I’ll keep this updated as more details come in. Things move fast in this space. If you have questions about how this affects your specific setup, drop them in the comments or send me a message.
xo, AmyPublished June 10, 2026. Card terms and transfer ratios can change. Always confirm current details on Chase’s site before making transfer decisions.