Big news for points enthusiasts: As of June 12, 2026, Chase has cut the Ultimate Rewards transfer rate to World of Hyatt from 1:1 to 1:0.8, dealing a blow to Hyatt loyalists. At the same time, the Chase Sapphire Preferred® Card has been refreshed with new benefits and bonus categories.
What Changed
- Chase → Hyatt transfer rate: 1:1 → 1:0.8 (effective June 12, 2026)
- Chase Sapphire Preferred refresh: New 4x on dining, 3x on travel, $100 annual hotel credit, and enhanced travel protections
- No change to transfer rates for other Chase hotel or airline partners
Who Benefits Most
- Sapphire Preferred cardholders who spend heavily on dining: Now earn 4x points per $1 on dining. For $6,000/year in dining, that's 24,000 points—worth $300 in travel via Chase Travel℠.
- Travelers booking hotels through Chase Travel: The new $100 annual hotel credit can offset part of a single-night stay, making the card's $95 fee much easier to justify.
- General travel spenders: 3x points on all travel purchases (up from 2x) means $5,000 in travel earns 15,000 points (worth $187.50 through Chase Travel).
- Those who redeem points for cash or non-Hyatt partners: No impact from the Hyatt transfer cut if you use points for cash back or other partners.
Who Should Be Cautious
- Hyatt loyalists transferring from Chase: Previously, 50,000 UR points = 50,000 Hyatt points (worth ~$850 in top redemptions). Now, 50,000 UR points = 40,000 Hyatt points (worth ~$680)—a loss of ~$170 in value per 50k transferred.
- Chase Sapphire Reserve holders who focus on Hyatt: The transfer cut also applies, reducing the value of UR points for Hyatt redemptions.
- Travelers who only transfer to Hyatt: If Hyatt is your sole transfer partner, Chase points are now less valuable for you.
What To Do Right Now
- Reevaluate your transfer strategy: If you have a stash of UR points, consider other partners or cash out at 1.25–1.5¢/point.
- Check your Sapphire Preferred benefits: Log in to see new perks and activate the $100 hotel credit.
- Shift spend to maximize new 4x and 3x categories: Use your Sapphire Preferred for dining and travel to rack up more points.
- If you’re a Hyatt loyalist, consider the World of Hyatt card: Direct Hyatt spend still earns at 4x Hyatt points per $1.
