Chase has delivered a major blow to travel rewards fans by devaluing the transfer ratio from Ultimate Rewards to World of Hyatt on nearly all of its credit cards. Only one card escapes the cut, putting a key hotel transfer strategy in jeopardy for most cardholders.
Our Take
Bad news for Chase and Hyatt loyalists. This devaluation guts one of the most lucrative sweet spots in the points world, especially for those who relied on flexible Ultimate Rewards transfers to maximize Hyatt redemptions. It's a clear signal that the era of easy outsized value from Chase-to-Hyatt is ending for most, and alternative strategies are now a must.
What Changed
- Chase is reducing the transfer ratio from Ultimate Rewards to World of Hyatt on all but one credit card product (specifics and effective date not disclosed in the public source).
- Only a single, unnamed Chase card will retain the previous, more generous transfer rate.
- This change impacts the vast majority of Chase cardholders who used Ultimate Rewards points for Hyatt stays.
Who Benefits Most
- Cardholders with the one unaffected Chase product: If you hold the single card that retains the old transfer rate, you keep access to Hyatt's best value redemptions. For example, 60,000 points could still get you ~$990 in Hyatt stays at our 1.65¢/point valuation.
- Existing Hyatt points holders: If you already transferred points before the change, your stash is safe and can still be redeemed at full value.
- Those with diversified points portfolios: Travelers who also earn Amex Membership Rewards or Capital One Miles may be able to pivot to other transfer partners.
Who Should Be Cautious
- Chase Sapphire Preferred and Reserve users: These are the most popular cards for Hyatt transfers, and most will now get a worse deal. For example, what used to be 1:1 transfers for $1,000 in Hyatt value could now be worth much less.
- Travelers planning large Hyatt redemptions: If you were saving up for a big trip, your points may not stretch nearly as far.
- Those with only Chase points: If Hyatt was your main redemption goal, you'll need to rethink your strategy or accept reduced value.
What To Do Right Now
- Check your Chase card's eligibility: Log in to see if your product is the one that retains the old transfer rate.
- Transfer points ASAP if eligible: If your card is still at the old ratio and you have Hyatt plans, consider transferring now before further changes.
- Review your travel plans: If you were counting on Hyatt redemptions, compare the new math to alternatives like Marriott, IHG, or direct booking.
- Diversify your points earning: Consider cards that earn Amex Membership Rewards or Capital One Miles for more flexible transfer options.
