Overview
- Chase announced the changes on Wednesday and made most updates effective June 15 for new applicants with the same benefits rolling out to existing Sapphire Preferred cardholders on October 1.
- The card gains broader everyday earning and travel value with 3x on gas, EV charging, vacation rentals, dining, streaming and online grocery, 5x on Chase Travel bookings, a $100 annual Chase Travel hotel credit, and a $120 Global Entry/TSA PreCheck/NEXUS credit every four years.
- Chase added emergency evacuation and transportation coverage and a one‑year Apple TV+ subscription to the benefits package while leaving the annual fee unchanged at $95.
- Chase will eliminate the card’s 10% anniversary points bonus and devalue transfers from Ultimate Rewards to World of Hyatt from 1:1 to 4:3 for Sapphire Preferred and some Ink cards, effective immediately for new applicants and on October 1 for existing Preferred holders.
- The moves increase simple, everyday value for casual travelers but reduce the card’s appeal to Hyatt‑focused points maximizers and create a clear path for customers who want 1:1 Hyatt transfers to use or upgrade to Sapphire Reserve or use alternative partners or household point transfers.