The big news a few days ago was Chase rolling out the biggest refresh to the Chase Sapphire Preferred in years and surprisingly, the annual fee remains just $95. Well now the value is even higher with adding a MASSIVE sign up bonus of 100,000 points to really underscore why this is one of the best travel rewards credit cards for (most) points enthusiasts.

So let’s take a look at the limited time 100K welcome bonus, break down exactly what’s changing including the Hyatt devaluation and see why I still think that for most, the Chase Sapphire Preferred is still worth getting.

What is the Chase Sapphire Preferred Limited Time 100K Sign Up Bonus?

You will receive 100,000 bonus points after spending 5,000 on purchases within three months from account opening vs the normal 75,000.

Why This Is Now An Even Bigger Deal

Recently Chase introduced this language as seen on the offer page: This credit card is unavailable to you if you currently have this card open. The new cardmember bonus may not be available to you if you previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed in determining your bonus eligibility.

What does this mean in practical terms? That you want to get this card when there is the HIGHEST amount of points available as you may not be able to get the sign up bonus again on the Chase Sapphire Preferred!

What’s New with the Chase Sapphire Preferred?

Benefit	Old Version	New Version
Annual Hotel Credit	$50	$100
Hyatt Transfer Ratio	1:1	4:3
Gas Stations	1X	3X
EV Charging	1X	3X
Vacation Home Rentals (Airbnb, Vrbo, etc.)	1X	3X
TSA PreCheck / Global Entry Credit	None	Up to $120 every 4 years
Emergency Evacuation Insurance	No	Yes
Apple TV+	None	Included for one year
Anniversary Bonus	10% Bonus	Removed
Annual Fee	$95	Still $95

New 3X Categories Make Everyday Spending More Rewarding

Starting June 15, cardholders will earn 3X points on gas stations, EV charging and vacation home rentals, including Airbnb and Vrbo purchases

The BEST news is that these categories JOIN existing bonus categories like dining and select travel purchases (vs REPLACE!) For road trippers, families, and travelers who frequently book vacation rentals, this is a meaningful improvement. Chase Sapphire Preferred

New TSA PreCheck / Global Entry Credit

Another notable addition is Up to $120 statement credit every four years for TSA PreCheck, Global Entry or NEXUS.

Beautiful Tip: The play is to sign up for Global Entry which includes TSA PreCheck! And if you already have this, you can use the credit to renew OR to pay for a family member’s Global Entry.

Emergency Evacuation Coverage Added

Chase added emergency evacuation coverage, further strengthening one of the card’s biggest competitive advantages!

While hopefully never needed, this is the kind of benefit that can become incredibly valuable during a serious medical emergency abroad. As always, it is imperative to review coverage details and limits as for many, it makes sense to have this as a secondary benefit to your primary travel insurance plan.

What Travel and Purchase Benefits Were There Before?

Travel protections have always been a Chase Sapphire Preferred strength especially for a card that had a $95 annual fee.

• No foreign transaction fees (these can range from 1-3% which really adds up when you are traveling internationally)
• Trip Cancellation/Interruption Insurance, Baggage Delay Insurance, Trip Delay Reimbursement & Travel and Emergency Assistance Services
• Auto Rental Collision Damage Waiver
• Purchase Protection & Extended Warranty Protection

Hotel Credit Doubles to $100

One of the easiest benefits to use is getting significantly better. The Chase Sapphire Preferred’s annual Chase Travel hotel credit increases from $50 to $100 annually, effectively covering the card’s entire annual fee if you book at least one eligible hotel stay each year.  

For some casual travelers, this change alone may justify keeping the card. Note that hotel does need to be booked via the Chase Travel portal to trigger the credit which I personally never used due to it being a third party booking (as these stays do not qualify for loyalty program benefits and count towards status)

AND the BIG and Bad News: Hyatt Transfers Are Being Devalued

I can’t sugarcoat this as this is where things get painful. Historically, one of the best uses of Chase Ultimate Rewards points has been transferring directly to Hyatt at a 1:1 ratio.

New Hyatt Transfer Ratio AKA Why This Matters So Much

Under the new ratio:

Hyatt Redemption Needed	Chase Points Required Before	Chase Points Required After
15,000 Hyatt Points	15,000 UR	20,000 UR
25,000 Hyatt Points	25,000 UR	33,334 UR
40,000 Hyatt Points	40,000 UR	53,334 UR

For years, Hyatt has been considered one of the most valuable hotel transfer partners available and this is now a 25% reduction in value when transferring to Hyatt.  

Many travelers routinely received outsized value by transferring Chase points to Hyatt properties worldwide (ie just two big examples would be my own experience with stays during the Paris2024 Olympics at the Park Hyatt Paris Vendôme and Hyatt Regency Paris Étoile!)

When Does the Hyatt Change Take Effect?

A Potential Workaround for Some Travelers

One interesting wrinkle, Chase is reportedly maintaining 1:1 Hyatt transfers for Sapphire Reserve cardholders.  

Because Chase allows point pooling among eligible Ultimate Rewards accounts, cardholders who hold both products may still be able to transfer points through a Sapphire Reserve account and retain the better transfer ratio.  

Quick Reminder – Hyatt is the ONLY Devaluation

This is my reminder to take a deep breath as yes the Hyatt news is big but all other Ultimate Rewards transfer ratios remain the same including for Air Canada, Air France and United. I have use transfer bonuses for the first two programs for some incredible redemptions and being based in Denver, UA often is the only non-stop option I have.

Is the Chase Sapphire Preferred Still Worth It?

For almost all travelers: Yes. The math is actually pretty compelling with the new credits. Adding in a 100,000 sign up bonus makes it a no-brainer if you have been considering the card.

One of the ways that I personally evaluate my credit cards is to track whether or not, I can use the benefits to cover the annual fee of the card. With the new changes, there’s a good chance that Chase will be paying you to keep the Sapphire Preferred which is always my goal! In addition, don’t forget that you need a Sapphire Preferred, Sapphire Reserve or a Business Ink Preferred to transfer Ultimate Rewards to a Chase travel partner.

Maybe You Need More Convincing or Are New to Award Travel?

To understand why I am so passionate about this hobby, I always like to go back to my definition of award travel: it’s simply traveling for cheaper, better and/or more often and credit cards are the NUMBER one way to be able to do this.

The Chase Sapphire Preferred card is hard to beat as your first card/step . And now is the time as there is a limited time elevated offer that matches the all-time high sign up bonus (SUB) of 100,000 points!

^{In case you don’t read my other posts on this subject, I must stress to please only consider if you can pay off the credit card IN FULL every month because no reward amount can justify interest charges! Curious about credit: read this.}

Why Get a New Credit Card?

And so why are credit cards an important part of award travel?

You put your everyday spend on a rewards credit card and earn points that you will be able to use for hotel rooms and/or flights for free or very low cost travel!

When you start to maximize the spend with sign up bonuses for new cards, then you are really making your money work for you.

TLDR version is that instead of earning 7,500 points (or even 100 in cashback) on an existing card you have that gives you 1.5x points/miles or 2% cashback, the $5,000 put on this card, you will now have 100,000 Chase Ultimate Reward points?

Why Specifically the Chase Sapphire Preferred?

Flexibility is the name of the game with award travel and these cards allow you to earn more Ultimate Reward Points that can be transferred 1:1 to Chase 10 airline and 3 hotel partners as opposed to having a co-branded card (one that is tied to a specific airline or hotel). Note that those who only have a Chase Sapphire Preferred card or Chase Ink Business Preferred will be able to transfer to Hyatt Hotels at a 4:3 rate.

Why is this important? You could transfer to Chase’s airline or hotel loyalty programs partners so those points from your Chase Sapphire Preferred sign up bonus are worth even more than the $1,000 that you would get if you redeemed those points for cash or a gift card.

I know you may be skeptical and this is where I show you how I have used my points AKA how award travel really makes (travel) dreams come true.

^{Want to learn the basics ?: Intro to Travel Hacking and then dive deeper with my 8 Top Tips For Travel Hacking}

How I Have Personally Used Chase UR Points Earned From my Sapphire Preferred – Examples of How Transferring Chase UR Points to Chase Travel Partners Pays Off

Here are some real life examples of why flexible points are so important with the different ways that I have been able to use my Chase Ultimate Rewards points:

How about a nearly FREE business class on Singapore Airlines? The cash value was ~$2,200 but I only paid $5.60 and used 56,700 points.

• There’s many times when Chase will offer a % bonus on transfers so the rate might be 1:1.25 or even 1:1.5 so your points will go even further! Transfer bonuses have made some of my redemptions even sweeter
  • Using 8,337 points (20% transfer bonus to Air Canada) for a $466.08 direct flight home from Cabo (plus I paid $135.73) – remember how I said that there is more flexibility than if you had this on a co-branded card? My flight TO Cabo was on United and that was 20K miles and would have been the same amount if I had booked using UA miles (same plane/flight booked via alliance partner: Air Canada)
  • Using 58,333 points and paid $73.53 (again a 20% transfer bonus to Air Canada) for a $6,965 business class flights on Swiss +SAS business

• Hyatt is a darling of miles and points and enthusiasts because they still have a published award chart with reasonable redemptions (Remember that points now transfer as a 4:3 rate to Hyatt if you hold only the Chase Sapphire Preferred card or Chase Ink Business Preferred)
  • Aspirational stays like spending my birthday at the Park Hyatt Paris-Vendôme (2 nights with cash value of $2,880.25/night that I used 90K points/2 nights)
  • Being able to stay five nights at the Hyatt Regency Paris Étoile* and attend the Paris2024 Olympics (cash value of $874/night and I used 18K points/nights
  • Exceptional value for using points to stay at Hyatt Place London Heathrow*, Story Hotel Malmo*, Hyatt Place Los Cabos with only needing to use 5,000 points per night when cash rates were $100-$180/night!
  • Note: Due to the popularity of many of these properties and this program, there are a number that have since moved up to a higher category*

STILL CONFUSED AND NEED HELP?

• I offer free mini consult sessions if you want to learn more! 
• I also have coaching packages to help you learn how to or maximize your points and miles earning INCLUDING some additional ways to meet minimum spending requirements!

PS I’ll continue to sweeten the deal if you’re approved using one of my referral links, I’ll throw in some baked goodies (beautiful tip: I won’t know unless you tell me if you have been approved for a card!)

Because life should be beautiful and delicious – Rosemary

Who else loves their Chase Sapphire card?