The Chase Sapphire Preferred, one of the most popular travel cards on the market, gets a major update starting June 15th. Chase keeps the annual fee at $95 and adds new points categories, expanded credits and extra protections, with just one downside for World of Hyatt users.
The card now offers 3x points on gasoline and electric vehicle charging, in addition to 3x points on vacation home bookings on Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa (or 5x through Chase Travel). The other categories remain: 5x on Chase Travel reservations, 3x on restaurants and streaming, and 2x on other travel purchases.
Hotel credit doubles and covers the entire annual fee
The main highlight is the annual hotel credit, which increases from $50 to $100 on prepaid reservations through Chase Travel. This amount is enough to fully cover the card’s annual fee.
In addition, a credit of up to US$120 every four years for Global Entry, TSA PreCheck or NEXUS, a free year of Apple TV (activation until December 31, 2026) and new evacuation and emergency transport coverage of up to US$100,000, plus US$15,000 for the repatriation of remains.
This evacuation protection is in addition to existing insurance, such as trip cancellation, car rental, baggage and flight delay. In practice, the card is more competitive compared to premium options, such as the Sapphire Reserve, which charges US$795 per year.
Transfer fee to Hyatt worsens
Chase reduces the transfer rate for World of Hyatt from 1:1 to 4:3. The change is effective from June 15th for new customers and October 1st for current holders. As a result, 1,000 Chase points are now worth just 750 Hyatt points, making redemptions approximately 25% more expensive.
The 10% anniversary bonus on points accumulated during the year will also be eliminated.
Sapphire Preferred is still worth it after the changes
For those who travel a few times a year and are looking for flexible points without paying a high annual fee, the card continues to be one of the best options on the market. Double hotel credit effectively eliminates the annual cost, while the new points categories make it easier to accumulate on a daily basis.