Chase raised the annual fee on its flagship Sapphire Preferred credit card to $250 but sweetened the deal with fresh benefits. The card now includes complimentary elite status at Marriott Bonvoy and new 3x points on transit (taxis, rideshare, parking, trains, and buses).
The catch: Chase cut the transfer value of points sent to Hyatt by 25 percent. Where cardholders previously received 1.6 points per point transferred, they now get only 1.2 points per point. This matters for travelers who rely on Hyatt transfers to book luxury properties. A 100,000-point transfer now yields 120,000 Hyatt points instead of 160,000.
The $250 annual fee remains justified for most users. The card delivers 3x points on dining and travel purchases, plus a $50 annual travel credit and $15 monthly Uber Cash credits (up to $180 yearly). Regular Sapphire Preferred holders who dine out often and take trips will recoup the fee quickly.
The Hyatt penalty stings hardest for transferring players. Hyatt properties command steep point costs for premium rooms. The 25 percent reduction forces users to either transfer fewer points, accept worse room categories, or combine transfers with cash payments.
Chase likely made this change to manage profitability as it competes for premium cardholders. Marriott elite status adds real value for hotel-focused travelers, and the transit bonus fills a gap for urban dwellers who use rideshare frequently.
Existing cardholders should evaluate whether the new perks outweigh the Hyatt transfer cut. If you primarily transfer to Hyatt, the downgrade matters. If you value Marriott status and transit points more, the new Sapphire Preferred works