For years, the Chase Sapphire Preferred has been the card I point people to when they ask, "What's the one card I should start with?" It's the gateway to the points world - reasonable annual fee, flexible points, no intimidating learning curve. And as of today, Chase just gave it a meaningful refresh without touching that $95 annual fee. That last part matters, so let's dig in.
Chase announced the changes this morning, with everything going live on June 15, 2026. Both new and existing cardmembers get the new benefits automatically - no reapplying, no spending thresholds to unlock them. Here's what's actually changing and whether it's worth your wallet space.
Two New Earning Categories Worth Paying Attention To
The headline additions are 3x points on gas and EV charging and 3x points on vacation homes booked directly with Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa.
The gas category is the one that quietly changes the math for a lot of people. The Sapphire Preferred has always been a "travel and dining" card, but gas was stuck earning a measly 1x. Bumping it to 3x means your weekly fill-up is now pulling real weight. For a household spending $300 a month on gas, that's an extra 7,200 Ultimate Rewards points a year you weren't earning before - and those are some of the most valuable points in the game.
The vacation home category is smart too. A huge chunk of leisure travel has shifted from hotels to Airbnbs and Vrbos, and until now those bookings earned next to nothing on most travel cards. Just note the fine print: you earn 3x booking directly with those platforms, but if you book a vacation home through the Chase Travel portal instead, it jumps to 5x.
The Credits Got Better (Especially This One)
Here's where the refresh starts to pay for itself. The Chase Travel Hotel Credit doubled from $50 to $100 each account anniversary year. It requires a prepaid hotel booking through Chase Travel, but if you were ever going to book a hotel anyway, that's $100 back annually - more than the $95 annual fee on its own.
There's also a new $120 credit for Global Entry, TSA PreCheck or NEXUS every four years. This used to be the domain of premium cards like the Sapphire Reserve and Amex Platinum, so seeing it land on a $95 card is genuinely surprising. If you've been putting off getting PreCheck, this is your nudge. And speaking of skipping lines - once you've got PreCheck sorted, it's worth checking Flight Queue before you head to the airport to see live security and passport control wait times so you know exactly how much buffer you need.
Rounding out the perks: a complimentary one-year Apple TV subscription if you activate it by December 31, 2026 (this is the only new perk that requires activation), plus the existing DashPass membership worth $120/year.
The Best Upgrade Is the One You Hopefully Never Use
Chase added Emergency Evacuation and Transportation coverage of up to $100,000. If you're injured or fall seriously ill on a trip 100 miles or more from home and need emergency evacuation, you're covered for eligible medical transportation.
This is the kind of benefit nobody thinks about until they desperately need it - and medical evacuations can run tens of thousands of dollars out of pocket. Chase says this now gives the Sapphire Preferred the most comprehensive built-in travel protections in its class, sitting alongside trip cancellation, trip delay, and auto rental coverage. For a card aimed at newer travelers, baking this in is a quietly excellent move.
The Catch: Two Things Are Going Away
No refresh is all upside, and there are two changes worth flagging honestly.
First, the 10% Anniversary Bonus is being discontinued. If you apply on or after June 15, 2026, you don't get it at all. If you applied before then, you'll keep earning it on eligible purchases through October 1, 2026, with the bonus paid out by January 31, 2027. It was a nice little loyalty kicker, and it's a shame to see it go.
Second - and this is the big one for points nerds - Ultimate Rewards points will transfer to World of Hyatt at a 4:3 rate instead of the current 1:1. That means 1,000 Chase points will become 750 Hyatt points. For new applicants this hits immediately; for existing cardmembers it kicks in October 1, 2026.
Hyatt has long been the crown jewel of Chase transfer partners. A 4:3 transfer rate is a real devaluation - it makes those aspirational Hyatt redemptions noticeably more expensive in Chase points.
I won't sugarcoat it: the Hyatt change stings. Transferring to Hyatt for outsized value on hotels like the Park Hyatt Maldives or Alila properties was one of the strongest arguments for holding Chase points. At 4:3, the math still works on premium redemptions, but the margin is thinner. If you've got a big Hyatt redemption in mind and you applied before June 15, you've got until October 1 to transfer at the old 1:1 rate. I'd act on that sooner rather than later.
So, Is It Still Worth It?
My honest take: for the right person, this is a better card than it was yesterday. The doubled hotel credit alone covers the annual fee, the Global Entry/PreCheck credit is a premium perk on a mid-tier card, and the evacuation coverage is real peace of mind. If you're newer to points or you want a low-fee anchor for your Ultimate Rewards, the Sapphire Preferred just got more compelling.
The Hyatt devaluation is the asterisk. If your entire points strategy revolves around squeezing maximum value out of Hyatt transfers, it's a step backwards. But for the broad base of travelers who value flexibility, strong everyday earning, and solid protections, the new earning categories and beefed-up credits more than balance the ledger.
Once you've racked up a pile of Ultimate Rewards, the fun part is spending them. When you're ready to find award space, Award Travel Finder will scan availability across airlines and programs to find the sweet spots - and if you want to pick the perfect seat once you've booked, Flight Seatmap shows live seat availability for your flight.
The Bottom Line
Chase took a beloved card, added genuinely useful earning categories and premium-tier credits, kept the fee at $95, and asked for one trade-off in return: a softer Hyatt transfer rate. For most people, that's a deal worth taking. Just don't sleep on that October 1 deadline if you're sitting on Chase points earmarked for Hyatt.
Got the Sapphire Preferred in your wallet? I'm curious whether the Hyatt change is enough to shake your strategy - hit reply and let me know. I read every response.
See you tomorrow with more,
