Mixed with some positive news (discussed in this separate post), Chase announced that the Sapphire Preferred card and the INK Business Preferred card (and legacy INK Plus card) will no longer transfer to Hyatt at 1:1. Instead you’ll get 3 Hyatt points for every 4 Ultimate Reward points (4:3).
There are no changes to the Sapphire Reserve and Sapphire Reserve for Business cards. Those cards are now the only ones with 1:1 Hyatt transfers. (You can move points from other cards to the Reserve card in order to get the 1:1 transfer rate.)
The change goes into effect on October 1, 2026, so you’ll want to do any transfers before then. For someone who applies for the Sapphire Preferred or INK Preferred from June 15, 2026 and onward the change goes into effect immediately.
Our Verdict
Obviously huge downgrade here. Coming on the heels of the Hyatt devaluation this is a real double whammy.
For a lot of people this will make the Sapphire Reserve card or Bilt card a real necessity.
