Chase Overhauls $95 Sapphire Preferred, Cutting Hyatt Transfers to 4:3

Q: Chase adds Apple TV but devalues Hyatt points. Is the Sapphire Preferred's refresh a net loss for loyal travelers?

For Hyatt-focused travelers, yes: the Sapphire Preferred refresh is a net loss. For broader, less brand-loyal travelers, it is probably still a net gain. The biggest hit is the World of Hyatt transfer change. New Sapphire Preferred applicants now get a 4:3 transfer ratio instead of 1:1, and existing cardholders lose 1:1 on October 1. That is effectively a 25% devaluation on one of Chase Ultimate Rewards’ most valuable hotel partners. Chase is also ending the card’s 10% anniversary points bonus, removing another piece of long-term value. The new Apple benefit does not fully replace that loss for travelers who built their strategy around Hyatt. A free year of Apple TV or a $7.50 monthly Apple One credit adds lifestyle value, but it is not a travel redemption tool. For a loyal Hyatt user, entertainment credits are a weak substitute for cheaper award nights. Still, the refresh is not uniformly negative. Chase kept the annual fee at $95 while doubling the Chase Travel hotel credit to $100, adding up to $120 every four years for Global Entry, TSA PreCheck or NEXUS, introducing 3x on gas, EV charging and vacation home rentals, and expanding travel protections. For many cardholders, those changes can outweigh the lost anniversary bonus. The dividing line is simple: if Hyatt transfers were the reason to hold the card, the refresh weakens it materially. If you value flexible travel perks, everyday bonus categories and low annual cost, Sapphire Preferred remains competitive.

3 articles · Updated · CNBC · Jun 15

Chase kept the Sapphire Preferred annual fee at $95 while adding 3X points on gas, EV charging and vacation rentals, raising its Chase Travel hotel credit to $100 and adding a trusted-traveler fee credit.
The biggest cut is a lower World of Hyatt transfer ratio of 4:3 from 1:1, alongside the end of the card’s 10% anniversary points bonus.
Those devaluations apply immediately to applicants from June 15, while existing cardholders keep current terms until Oct. 1, 2026; the final anniversary bonus points will be paid by Jan. 31, 2027.
Chase also added one year of Apple TV—worth $156 if activated by Dec. 31, 2026—and emergency evacuation coverage, broadening benefits without pushing the card above the $100-fee tier.
The Hyatt change also hits the Ink Business Preferred on Oct. 1, signaling a broader pullback from Chase’s long-standing 1:1 transfer standard even as Sapphire Preferred remains competitive for mainstream travelers.