The Fan-Favorite Chase Sapphire Preferred Card Adds New Perks but Devalues Hyatt Transfers

Updated: June 16, 2026, 9:46am CDT

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Table of Contents

What’s Changing With the Chase Sapphire Preferred Card on June 15?
Analyzing the Changes: The Good and the Bad
Final Thoughts

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The Chase Sapphire Preferred^® Card has long been one of the most recommended travel credit cards. It offers strong earning rates, solid travel protections, and access to Chase’s Ultimate Rewards ecosystem — all at a reasonable $95 annual fee.

Now, Chase is adding perks to the card without raising that fee. However, not all the changes are positive, and most take effect on June 15, 2026.

The refreshed card adds new earning categories, upgraded credits, new travel protections, and a couple of bonus perks. While it does all of that, Chase is keeping the annual fee at $95.

However, the card is losing a benefit and altering another in a way that’s sure to upset some customers.

Here’s what’s changing and what it actually means for cardmembers.

What’s Changing With the Chase Sapphire Preferred Card on June 15?

Here’s a breakdown of the changes.

New Earning Categories

The 2 biggest additions are new accelerated earning categories:

3x points on gas and EV charging
3x points on vacation rentals, including Airbnb, Vrbo, and similar platforms

These join an already strong lineup: 5x on Chase Travel purchases, 3x on dining, 3x on streaming, 3x on online groceries, and 2x on all other travel worldwide, as well as 1x Ultimate Rewards on other purchases.

We value Ultimate Rewards points at 2 cents each, so 3x earnings mean you’re getting a 6% return on spending in the new categories. That’s great news for gas, EV charging, and vacation rental expenses.

Chase Sapphire Preferred City Upgraded Points LLC 2 — The Chase Sapphire Preferred card is adding new bonus categories. Image Credit: SFIO CRACHO via Adobe Stock modified by Upgraded Points LLC

New and Updated Statement Credits

The annual hotel credit worth up to $50 has been doubled to $100 — a solid improvement for anyone booking hotels through Chase Travel. No registration is required for this offer. Cardholders who have already used their $50 hotel credit for this year can use another $50 after June 15, 2026. If you use less than $100 of the credit on a hotel booking, the remainder can be used until the full $100 is exhausted, which is based on the cardholder anniversary year (not a calendar year).

Chase is also adding a $120 credit for Global Entry, TSA PreCheck, or NEXUS every 4 years, a perk previously reserved for premium cards. Simply make an eligible payment with your card to trigger this benefit.

Boosted Travel Insurance Benefits

Chase is adding emergency evacuation and transportation coverage to the card’s protection suite — coverage that can run into the tens of thousands of dollars in worst-case travel scenarios. Chase is billing this as the most comprehensive built-in travel protection suite in its class.

Apple TV+ and TikTok

Cardholders who activate by December 31, 2026, will receive a complimentary 1-year Apple TV+ subscription. Chase is also launching an official TikTok channel at @ChaseSapphire for cardmembers who want to follow along on benefits.

World of Hyatt Points Transfer Ratio Change

Transferring Ultimate Rewards points to World of Hyatt will change to a 4:3 ratio instead of 1:1. For new Chase Sapphire Preferred cardholders applying on or after June 15, 2026, this is effective immediately. Existing cardmembers have until October 1, 2026, before the new ratio applies.

The same October 1 date applies to other cardholders, as well, including those with the Ink Business Preferred^® Credit Card. However, points transfers will remain at 1:1 for those with the Chase Sapphire Reserve^® and the Sapphire Reserve for Business℠.

Hot Tip:

Chase allows you to combine points across your accounts. You can move your points from a card with the 4:3 transfer ratio onto a card with the 1:1 transfer ratio, then transfer to Hyatt at the optimal rate.

The 10% Anniversary Bonus Is Phasing Out

Chase is discontinuing the 10% anniversary points bonus for cardmembers who apply on or after June 15, 2026. Those who apply before June 15 will continue earning the bonus on eligible purchases through October 1, 2026, with the points awarded by January 31, 2027.

Analyzing the Changes: The Good and the Bad

The Good Stuff

Earning 3x on gas and EV charging is a long-overdue addition. Gas is one of the most common everyday spending categories, and the Chase Sapphire Preferred card didn’t offer a bonus points category for it.

The 3x earning rate on vacation rentals is similarly well-targeted. Airbnb and Vrbo have taken a massive share of the travel market, and earning only 2x under “other travel” didn’t reflect how cardmembers were actually spending.

The doubled hotel credit and new security program credit are both tangible, easy-to-use benefits. The $120 credit every 4 years covers the full cost of Global Entry or TSA PreCheck — something previously only found on cards with much higher annual fees.

Chase Sapphire Preferred Card In Hand Upgraded Points LLC. — There are several additions that Chase Sapphire Preferred cardholders should be excited about. Image Credit: Polina Tankilevitch via Pexels, modified by Upgraded Points LLC

Emergency evacuation and transportation coverage is the kind of protection most travelers never think about until they need it. Having it built in at $95 helps distinguish the card.

The Bad Stuff

The Hyatt transfer ratio dropping from 1:1 to 4:3 is a real devaluation and deserves to be called out. Transferring to Hyatt was one of the best uses of Ultimate Rewards points. Redeeming World of Hyatt points provides some of the strongest redemption values across hotel programs. At 4:3, you’re effectively losing 25% of your points on every Hyatt transfer.

Remember, this change goes into effect on June 15 for new cardholders, but existing cardholders can continue to transfer at the 1:1 ratio until October 1.

Further, the loss of the 10% anniversary bonus will sting for moderate spenders who valued that automatic top-up. It was a simple, no-effort benefit, and removing it is a net negative even if the new credits offset the value for many cardmembers.

Bottom Line:

On balance, most people will come out ahead, but the Hyatt devaluation is a genuine loss that points-and-miles travelers shouldn’t overlook.

Final Thoughts

The updated Chase Sapphire Preferred card is a better card overall. New earning categories fill real gaps, the doubled hotel credit and new security program credit add tangible value, and the emergency evacuation protection rounds out an already strong suite of insurance coverage on the card — both for travel and everyday purchases. You get all of that at the same $95 annual fee cardholders are used to.

The Hyatt transfer ratio change is a development worth watching closely. For cardmembers who’ve built their strategy around transferring to Hyatt, it changes the math considerably. It may push some of these cardholders to consider a premium card with a higher annual fee. But maybe that’s the goal.

For most travelers, though, this refresh keeps the Chase Sapphire Preferred card exactly where it’s been for years: on a list of the best travel cards at any price point — especially those with annual fees under $100.