Happy Friday Reader!
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If you haven't yet heard there's been some big changes with Chase and the Sapphire Preferred, here's a summary:
- For those with the Sapphire Preferred & Ink Business Preferred, transfers from Chase to World of Hyatt drop from 1:1 to 4:3 for new applicants on June 15, 2026, and for existing cardholders on October 1, 2026. The Sapphire Reserve stays at a 1:1 ratio.
- Two new 3X categories: gas/EV charging and vacation rentals (Airbnb, Vrbo, etc.)
- Annual hotel credit doubles from $50 to $100, Global Entry/TSA PreCheck credit added, emergency evacuation coverage added, one free year of Apple TV
- Annual fee stays at $95, and the 10% anniversary points bonus is being discontinued
So the overall changes to the card itself are fantastic, but the transfer ratio change is by all definitions, a game changer. Here are my takes;
Before I dive in, I'll say upfront: I do find value in Hyatt. I don't have trouble finding locations I want to stay at and I like their properties, but if you've never cared about Hyatt points, then you'll probably think about this very differently.
With that said, here's how I see the implications playing out.
The Chase Sapphire Reserve has possibly become one of the best credit cards for hotel stays. It keeps the 1:1 Hyatt transfer, and if the points boost option is available and the math works out, that's a very useful feature to lean on. The Sapphire Preferred still has the Points Boost option, but I never find it at properties that are worth it or at a high enough "boost" to offer real value.
The Bilt card also comes out of this looking even better than it did before. It transfers to Hyatt at 1:1, and Bilt's airline partner lineup has always been great whereas Chase's are fairly mid, as the youths say (or maybe it's "chopped" now).
On the other hand, the new earning multipliers actually make the Sapphire Preferred look like a solid earning card. Add the $100 hotel credit, and if you can make peace with the transfer partner situation, there's a real argument for it as a points accumulation card. Similar to the Citi Strata Premier.
What I think it loses, though, is its reputation as the best beginner card. The domestic airline partners, United, Southwest, and JetBlue are fine, but getting outsized value out of them takes some work. For someone just getting started, I don't know that this is the obvious first card it used to be.
A couple of strategies worth thinking through:
If you're in two-player mode and Hyatt still matters to you, one person holds the Sapphire Reserve to lock in the 1:1 transfer. The other picks up a Sapphire Preferred or an Ink Business Preferred and funnels Ultimate Rewards points over to the Reserve holder. And if you haven't had the Reserve bonus before, after a year, you can always refer your partner, downgrade your card, and continue from there.
The other option is to just cash out your Chase points into Hyatt before October 1st. Looking back, almost every Chase transfer I've made over the last few years has gone to Hyatt anyway, maybe a Southwest top-off to use with the companion pass once or twice. I'm not particularly hesitant to move my points over, but I'll wait until we get closer to October 1st before I do anything, just in case.
And if Hyatt was never part of your strategy, then keep on keepin' on and enjoy the new benefits!
P.S. / Fun fact, the day before this news broke I filmed a whole video about why the CSP might not be the best beginner card anymore, so now I have to rewrite and film that whole video ๐ซ lol.
P.P.S. If you're following my Sapphire Reserve application journey, it still needs more time for my Business Ink and IHG cards that I canceled to register before they're able to really reconsider it. I'll retry at the end of the 30 days.
| What's your plan after this news? |
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