The Chase Sapphire Preferred is getting one of its biggest updates in years, with Chase doubling the annual hotel credit to $100 and introducing new earning categories and travel perks, all while keeping the $95 annual fee unchanged.
Starting June 15, 2026, cardholders will earn 3 points per dollar on gas purchases, EV charging, and vacation home rentals booked through platforms like Airbnb and Vrbo. The expanded hotel credit—up from $50—applies to any prepaid hotel stay through Chase Travel with no minimum stay requirement, according to NextCard’s detailed breakdown of the changes.
Chase is also introducing a new $120 statement credit every four years for Global Entry, TSA PreCheck, or Nexus applications. Cardholders will receive a complimentary one-year Apple TV+ subscription when activated by December 31, 2026, and the card now includes expanded travel protections covering emergency evacuation and transportation assistance, according to The Points Guy.
The refresh is designed to appeal to casual and everyday travelers rather than points optimizers. For a card with a $95 annual fee, the $100 hotel credit now exceeds the cost of membership, making it easier to justify the annual expense for travelers who book at least one hotel stay per year through Chase Travel.
The Trade-Off: Hyatt Transfer Changes and Bonus Elimination
The refresh also includes significant changes that affect certain cardholders. Chase is reducing the transfer ratio to World of Hyatt from 1:1 to 4:3 starting June 15, 2026 for new applicants. Existing cardholders will keep the favorable 1:1 ratio through October 1, 2026, according to The Points Guy. This means 40,000 Chase points will yield 30,000 Hyatt points instead of 40,000—a 25% reduction in transfer value.
The card’s 10% anniversary points bonus, which rewarded cardholders with bonus points equal to 10% of annual spending, is also being discontinued for new applicants after June 15. Existing cardholders can still earn this bonus on purchases through October 1, 2026, with the bonus deposited by January 2027.
The Hyatt transfer change is a significant downside for loyalty program enthusiasts focused on hotel redemptions. However, the Chase Sapphire Reserve will maintain its 1:1 Hyatt transfer ratio, creating a clearer divide between the two cards. For cardholders who rely heavily on Hyatt transfers, upgrading to the Sapphire Reserve—which currently offers its highest-ever public welcome bonus of 150,000 points—may become more appealing.
Existing cardholders who applied before June 15 can access all new benefits starting June 15 while temporarily retaining the 1:1 Hyatt ratio and 10% anniversary bonus through October 1, creating a brief window to benefit from both old and new features. This timing consideration has prompted some cardholders to apply before the June 15 cutoff, according to NextCard.
The refresh reflects Chase’s broader strategy: making the Sapphire Preferred more practical for everyday travelers with statement credits and useful categories, while reducing its appeal to points maximizers who focused on Hyatt transfers. Despite the Hyatt devaluation, the card’s strengthened benefits package—particularly the doubled hotel credit and new earning categories—may make it more valuable for the average cardholder.
Sources
- NextCard — Detailed breakdown of all June 15, 2026 changes, hotel credit increase from $50 to $100, new bonus categories, Global Entry credit, Apple TV+ benefit, and timing for new vs. existing cardholders
- The Points Guy — Comprehensive analysis of Hyatt transfer ratio change from 1:1 to 4:3, 10% anniversary bonus discontinuation, new travel protections, and card positioning for different cardholder types
