Chase has officially rolled out a major refresh for its flagship travel card, and the changes are overwhelmingly positive. In a rare win for consumers, Chase managed to pack in a suite of valuable new perks and launch a highly notable new welcome bonus, all while keeping the annual fee locked at a very reasonable annual_fees.
The updated Chase Sapphire Preferred(R) Card introduces practical everyday earning categories, doubled statement credits and robust new travel protections. To be fair, there are a few minor changes that points enthusiasts are bound to dislike — specifically the end of the anniversary bonus and a shift in the Hyatt transfer ratio. But when you look at the big picture, this overhaul delivers a major net positive for the average traveler.
Whether you are a long-time cardholder or considering applying to snag the limited-time welcome offer, here is exactly what this update means for your wallet.
Quick summary: What changed?
| Added | Removed/Reduced |
|---|---|
| Improved welcome bonus | 10% anniversary bonus |
| 3X on gas and EV charging | Hyatt transfer ratio changes to 4:3 |
| 3X on vacation rentals | |
| $100 hotel credit | |
| $120 Global Entry/TSA PreCheck credit | |
| 1-year Apple TV subscription | |
| Emergency evacuation coverage |
What is the new Chase Sapphire Preferred® welcome bonus?
To kick off this refresh, Chase is leading with a massive introductory offer that commands immediate attention. For a limited time, new applicants can earn signup_reward bonus points after spending signup_bonus_spend_amount on purchases in the first three months from account opening.
This is a significant increase compared to standard historical offers. When it comes to redeeming those rewards, you have a tremendous amount of flexibility. For starters, Chase’s Points Boost feature can make your points even more valuable when redeemed through the travel portal for thousands of top-booked hotels and flights with select airlines. Furthermore, when you combine that boost with Chase’s strong list of 1:1 transfer partners, those 100,000 points have the potential to go even further. Whether you prefer booking directly through the portal or transferring points to maximize luxury travel, there are a lot of options you can choose from to get the most out of your rewards.
The good: Chase added more everyday value
New 3X categories make earning points easier
Chase has expanded the card’s earning power by targeting common, everyday expenses: gas stations, electric vehicle (EV) charging, and direct vacation rentals.
The inclusion of direct vacation rentals — covering popular platforms like Airbnb and Vrbo — broadens the card’s utility beyond traditional hotel stays, and the improvement on gas rewards makes it an ideal companion for road-trippers who are racking up miles to get to their destination.
Example: A family spending $300 monthly on gasoline or EV charging can now earn 10,800 Ultimate Rewards® points annually in that category alone.
The Chase Travel℠ hotel credit doubles to $100
Previously set at $50, the annual credit for hotel accommodations booked through the Chase Travel portal has doubled to $100.
This adjustment shifts the card into “keeper” status for casual travelers who can easily utilize the portal once a year. To see how this compares to competing cards, explore the best hotel credit cards.
Example: Making just one eligible hotel booking through Chase each year more than offsets the card’s annual_fees annual fee.
New Global Entry or TSA PreCheck credit
Frequent flyers can now leverage a statement credit of up to $120 for Global Entry or TSA PreCheck application fees. Available every four years, this benefit brings a premium travel perk down to a sub-$100 annual fee card, offering substantial value for occasional travelers looking to skip long airport lines.
Complimentary Apple TV subscription and new travel protection benefits
Cardholders can now receive a Complimentary Apple TV subscription for one year when activated by Dec. 31, 2026 (terms apply), adding immediate digital entertainment value. More significantly, Chase has reinforced its already strong insurance package by adding emergency evacuation and transportation coverage. This coverage handles the logistics and extreme costs of medical relocation during a trip gone wrong, providing peace of mind that standard trip interruption insurance often lacks.
➤ LEARN MORE:Guide to credit card travel insurance
The bad: Two popular benefits are going away
The 10% anniversary bonus is ending
The 10% anniversary bonus — which awarded cardholders bonus points equal to 10% of their total spend during the previous account year — is being phased out. Highly valued by heavy spenders, this perk effectively gave the card a baseline 1.1X return on non-category purchases.
Example: A cardholder with $20,000 in annual spend will lose out on a dependable 2,000 bonus points each year under the new structure.
Hyatt transfers take a major hit
The most controversial change in this refresh is the devaluation of World of Hyatt point transfers. While Chase retains a robust network of transfer partners, the direct 1:1 ratio for Hyatt is a thing of the past for Sapphire Preferred® holders.
The new transfer ratio is 4:3, meaning 4,000 Ultimate Rewards points convert to just 3,000 Hyatt points. Because Hyatt points routinely offer some of the highest cent-per-point values in the industry, this reduction cuts into a favorite sweet spot for award travel enthusiasts.
| Chase Ultimate Rewards® points | Before (1:1 ratio) | After (4:3 ratio) |
|---|---|---|
| 10,000 | 10,000 Hyatt points | 7,500 Hyatt points |
| 50,000 | 50,000 Hyatt points | 37,500 |
➤ LEARN MORE:How much are points and miles worth in 2026?
Bottom line: Is the Chase Sapphire Preferred® still worth it?
- For most travelers: The card is arguably more lucrative. The addition of everyday 3X categories (gas, EV charging, vacation rentals), a doubled $100 hotel credit, and a new Global Entry or TSA PreCheck credit provides tangible, easy-to-earn value that offsets the annual_fees fee without requiring complex redemption strategies
- For Hyatt loyalists: The 4:3 transfer ratio represents a definitive downgrade. If your primary strategy relies on moving Chase points to Hyatt for luxury hotel stays, the reduced purchasing power will be felt immediately.
Despite losing the anniversary bonus and seeing Hyatt transfers devalued, the Chase Sapphire Preferred(R) Card remains one of the strongest travel cards under a $100 annual fee. The expanded hotel credit, practical new earning categories and beefed-up travel protections offer broader utility for the average consumer, keeping it firmly entrenched as a top-tier recommendation for general travel rewards.
Frequently asked questions
Does Chase Sapphire Preferred® still transfer points to Hyatt?
Yes, but the transfer ratio has changed from 1:1 to 4:3 for Sapphire Preferred® cardholders.
Is Chase Sapphire Preferred’s annual fee increasing?
No. The annual fee remains locked at annual_fees.
Why are people upset about the Hyatt changes?
Award travel enthusiasts generally consider Hyatt to be Chase’s most valuable transfer partner due to low award chart redemption rates. The 4:3 ratio diminishes that outsized value.
When do the Hyatt changes take effect?
This is effective immediately for new cardmembers who apply on or after June 15, 2026, and effective Oct. 1, 2026, for cardmembers who applied before June 15, 2026.
Is the Chase Sapphire Preferred® still worth it after these changes?
For the vast majority of travelers, yes. The expanded credits and broader everyday categories outweigh the losses, though dedicated Hyatt loyalists may want to run the numbers on their specific redemption patterns.
What are the new Chase Sapphire Preferred® benefits?
The updated card includes 3X points on gas and EV charging, 3X on vacation rentals, an increased $100 annual hotel credit, a Global Entry/TSA PreCheck credit, one year of Apple TV, and emergency evacuation insurance.
