Chase has announced a major refresh for the Chase Sapphire Preferred® Card, effective June 15, 2026. The card now features new 3X earning categories (gas and vacation rentals), a doubled hotel credit, enhanced travel protections, and—crucially—a devaluation to Hyatt transfer rates. The $95 annual fee remains unchanged, but the Hyatt transfer change is a blow for many points optimizers.
Our Take
Mixed. This refresh is a double-edged sword: the new 3X categories and bigger hotel coupon add real value for everyday spenders, but the Hyatt transfer devaluation is a serious loss for points maximizers. If you relied on Sapphire Preferred for Hyatt redemptions, this is a gut punch—by our valuations, Hyatt was the single best use of Ultimate Rewards.
What Changed
- New 3X earning on gas and vacation rentals (previously 2X)
- Hotel credit doubled (exact amount not specified in source)
- Enhanced travel protections, including emergency evacuation coverage
- No change to the $95 annual fee
- Transfer to Hyatt devalued (details not specified, but no longer the top value play)
- All changes effective June 15, 2026
Who Benefits Most
- Road trippers and commuters: If you spend $3,000/year on gas, the new 3X earns 6,150 Ultimate Rewards (
$126 by our 2.05¢/pt valuation), up from 4,100 UR ($84) previously. - Vacation rental fans: $2,000/year on Airbnb or Vrbo now earns 3X (6,150 UR, ~$126), up from 2X (4,100 UR, ~$84).
- Occasional hotel bookers: The doubled hotel credit (amount TBA) means more savings on direct hotel bookings—potentially $100+ extra value annually.
- Travelers seeking peace of mind: Enhanced travel protections, especially emergency evacuation, are rare at this price point and can be worth thousands in a worst-case scenario.
Who Should Be Cautious
- Hyatt loyalists: The devaluation of Chase → Hyatt transfers means your points are now worth less for Hyatt stays. Previously, 60,000 UR became 60,000 Hyatt points (~$990 value); new rates will be lower.
- Points optimizers: If you maximize Ultimate Rewards for high-value Hyatt redemptions, this is a downgrade—Hyatt was the best transfer partner by our math.
- Travelers who don't use gas or vacation rentals: If your spend is mostly on dining/travel, the refresh may not add much value for you.
What To Do Right Now
- Redeem UR for Hyatt ASAP: If you have a stash of points, transfer them to Hyatt before the devaluation takes effect (June 15, 2026).
- Review your spending: If you spend heavily on gas or vacation rentals, calculate your new earning potential.
- Check your hotel booking habits: Plan to use the increased hotel credit on direct bookings.
- Consider alternatives: If Hyatt redemptions are your priority, look at the World of Hyatt card for better value.
