U.S. personal-card review. Terms checked October 14, 2026. Published terms and editorial analysis; examples are hypothetical. Offers and benefits can change.
Referral disclosure: Gary Petrie, founder of Strategic-Traveler, may receive a referral reward if you apply through the link below and meet the issuer’s conditions. This does not determine our review verdict. Compare other available offers before applying.
Check the current referral offer
This referral page offers both Sapphire cards. Select Sapphire Preferred and review that card’s offer, required spending, eligibility, rates and fees. Offers can vary and change; a welcome bonus or approval is not guaranteed.
Chase Sapphire Preferred is a reasonable starting point for travelers who want transferable Ultimate Rewards points without a premium annual fee. At $95 a year, it can be easier to justify than a card built around lounge memberships and numerous credits. Our verdict: a strong practical option, but Hyatt-focused readers need to understand the 2026 transfer change before applying or renewing.
What the card earns
Preferred earns 5 points per dollar on eligible Chase Travel purchases, 3 on dining, eligible online groceries and select streaming, and 2 on other eligible travel. Its 2026 update adds 3 points on gas and EV charging and eligible vacation homes at specified brands. Most other purchases earn 1 point. Category exclusions and merchant coding apply.
Online groceries are not all grocery purchases: Target, Walmart and wholesale clubs are excluded. Similarly, the vacation-home category is tied to eligible brands, not every privately arranged rental. Model spending using the categories in the current rewards agreement.
The hotel credit is now $100
Chase increased the annual Chase Travel hotel credit to $100 each account anniversary year. It requires eligible prepaid hotel bookings through Chase Travel. A credit attached to a more expensive rate may deliver less than $100 in savings. Compare the full booking against a direct rate with the same room and cancellation terms.
The card also offers up to $120 toward Global Entry, TSA PreCheck or NEXUS every four years, plus travel protection benefits subject to their guides. Do not subtract a once-every-four-years reimbursement as if it were a new annual credit.
The Hyatt change is material
Preferred points now transfer to World of Hyatt at 4:3. The ratio took effect immediately for applicants on or after June 15, 2026, and October 1, 2026 for earlier cardholders. That means 40,000 Ultimate Rewards points become 30,000 Hyatt points before any separate promotion—not 40,000 Hyatt points.
This makes old reviews describing universal 1:1 transfers misleading for a Hyatt-led strategy. A lower card fee can still be worthwhile, but compare the actual points required for the hotel you want with the transfer terms of competing products. Never assume every partner uses the same ratio.
A realistic annual-fee test
Illustrative example: if an already-planned prepaid hotel booking delivers $70 of genuine savings from the hotel credit after a price comparison, $25 of the fee remains. Incremental rewards and useful protections may easily cover that amount for some travelers. If you would never use the portal, value the hotel credit at zero and evaluate the full $95 fee.
A welcome offer can improve the first year, but does not answer the renewal question. Read the live offer’s eligibility wording rather than relying on a simplified rule from a past application. Bonus offers and approval are not guaranteed.
Our assessment
Preferred is appealing when its categories and transfer partners support trips you actually plan. It does not need an elaborate lifestyle-credit routine to work. Choose another strategy if airport lounge access or Hyatt transfer efficiency is central to your decision. Check covered-trip requirements before relying on insurance, and pay balances in full so interest does not consume the value of your rewards.
Sources and current terms
- Chase Sapphire Preferred current benefits
- Preferred offer and rewards categories
- Chase 2026 update and Hyatt ratio
Leave a Reply