Chase Sapphire Preferred Got a Massive Overhaul
Chase Sapphire Preferred Got a Massive Overhaul
Chase rebuilt the Sapphire Preferred from the ground up on June 15, 2026. The annual fee stays at $95. The credits got better. The earning categories got wider. But the transfer ratio to Hyatt took a hit.
New credits
Chase Travel Hotel Credit: $50 to $100/year. Up to $100 in statement credits per anniversary year for hotel bookings through Chase Travel. The first $100 in hotel purchases won't earn points.
Apple TV+ subscription. At least 12 months of complimentary Apple TV+ when you activate by December 31, 2026. Worth about $120 in the first year. If you already pay for Apple One, you get a $7.50/month discount instead. This is a one-time activation, not a recurring annual benefit.
Global Entry or TSA PreCheck credit. Up to $120 every four years toward Global Entry, TSA PreCheck, or NEXUS application fees. Charges from the program directly on your card trigger the credit automatically.
New earning categories
The card now earns 3X on gas stations, EV charging, vacation home rentals at select brands (Airbnb, Vrbo), and online grocery purchases (excluding Target, Walmart, and wholesale clubs). It also earns 3X on top streaming services and dining, which were already included.
Chase Travel purchases earn 5X.
What got cut
10% anniversary points bonus is gone. This used to give you back 10% of your annual spending as bonus points each year. If you spent $30,000 on the card, that was 3,000 extra points. Existing cardholders who opened before June 15 keep this through October 1, 2026, then it goes away.
Hyatt transfers dropped from 1:1 to 4:3. This is the big one. 1,000 Chase points used to become 1,000 Hyatt points. Now they become 750. If you were holding this card specifically for cheap Hyatt transfers, that math just got 25% worse.
What it all adds up to
| Credit | Annual value |
|---|---|
| Chase Travel Hotel Credit | $100 |
| Apple TV+ | $120* |
| DashPass | $120 |
| DoorDash credits | $120 |
| Global Entry / TSA PreCheck | $30 |
| Total credits | $490 |
| Annual fee |
*Apple TV+ is a one-time activation (at least 12 months), not a recurring annual credit. Year-two totals drop to $370 without it.
That's about $200 more in annual credits than before the overhaul, against the same $95 fee.
Who wins, who loses
If you use DoorDash, stream Apple TV+, and book hotels through Chase Travel, this is now one of the best value cards under $100. The new gas and grocery categories also make it a stronger daily driver.
If you were using the Sapphire Preferred as a cheap pipeline to Hyatt points, the 4:3 transfer ratio changes the equation. A 25% haircut on transfers means you need to weigh whether the card's credits offset the lost transfer value for your travel patterns.
The fine print
- The $100 hotel credit only works for hotels booked through Chase Travel. Direct hotel bookings don't count.
- Hotel purchases that trigger the credit won't earn points.
- Apple TV+ requires one-time activation on chase.com or the Chase app by December 31, 2026.
- DashPass and DoorDash credits are available through 12/31/2027.
- The DoorDash $10/month discount applies to one non-restaurant order per month.
- Global Entry credit is one statement credit of up to $120 every four years. Only direct purchases from DHS or authorized enrollment providers qualify.