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The venerable Chase Sapphire Preferred® Card, a longtime favorite among travel credit cards, is getting a refresh to appeal to travelers facing an increasingly expensive travel environment. Under the most extensive update to the card's terms in five years, it's getting new bonus rewards categories and new credits to help offset the annual fee. On the other hand, it's losing a couple of key benefits, which could make it less valuable to some.
To answer perhaps the biggest question first: The card's annual fee will remain at $95. Whether the card's fee would rise has been the subject of intense speculation on Reddit and in other online spaces devoted to credit cards.
The good news
Starting June 15, 2026, new and existing Chase Sapphire Preferred® Card holders will receive the following new benefits:
New bonus categories:
- 3x points on gas and EV charging.
- 3x points on vacation rentals booked directly with brands like AirBnB and VRBO.
Travel credits:
- Up to $120 statement credit once every four years toward TSA PreCheck, Global Entry or NEXUS.
- Up to $100 a year in credit toward hotel bookings through Chase’s travel portal. (Previously, the credit topped out at $50 a year.)
Travel protections:
- Emergency evacuation and transportation coverage.
Streaming:
- One-year subscription to Apple TV subscription when activated by Dec. 31, 2026.
The additions should be an overall win for most cardholders — although maybe not all.
The new credit for TSA PreCheck, Global Entry or Nexus fills one of the most glaring holes in the Chase Sapphire Preferred® Card's benefits structure. Competing cards such as the Capital One Venture Rewards Credit Card and the Bank of America® Premium Rewards® credit card have long offered a similar credit. Meanwhile, with the annual hotel credit doubling to $100, the card can pay for itself with a single hotel stay. And a year's subscription to Apple TV costs about $100 (or $12.99 when billed monthly), so it, too, could be viewed as "paying you back." The value of the additional rewards for gas/EV charging and vacation rentals will vary by user.
The bad news
Other changes coming to the Chase Sapphire Preferred® Card are apt to disappoint some cardholders.
First, Chase is reducing the rate at which cardholders can transfer their Ultimate Rewards® points to the World of Hyatt program. Previously, Chase Sapphire Preferred® Card cardholders could transfer points to Hyatt at a 1:1 ratio, meaning 1,000 Chase points became 1,000 World of Hyatt points. That 1-to-1 ratio was prized by credit card maximizers, since Hyatt points are considered among the most valuable in the industry. The new Hyatt transfer ratio for holders of the Chase Sapphire Preferred® Card is 4:3, meaning that 1,000 Chase points will become only 750 Hyatt points. For cardholders who were approved for the card before June 15, 2026, the new 4:3 transfer ratio kicks in Oct. 1, 2026.
In another downgrade, the 10% anniversary points bonus benefit is being eliminated. This benefit gave cardholders an annual bonus based on their spending in the preceding year. For example, if you spent $50,000 on the card, you'd get a bonus of 5,000 points. Those who apply for the card on or after June 15, 2026, will not get any points bonus; the bonus will be discontinued for all other cardholders on Oct. 1, 2026.
The rest
Other ongoing features of the Chase Sapphire Preferred® Card remain unchanged. Here's a consolidated look at what the card will offer after June 15, 2026:
Annual fee: $95.
Rewards:
- 5 points per $1 spent on all travel purchased through Chase.
- 3 points per $1 on dining (including eligible delivery services and takeout).
- 3 points per $1 on gas and EV charging.
- 3 points per $1 on vacation rentals booked directly with brands like AirBnB and VRBO.
- 3 points per $1 on select streaming services.
- 3 points per $1 on online grocery purchases (not including Target, Walmart and wholesale clubs).
- 2 points per $1 on travel not purchased through Chase.
- 1 point per $1 on other purchases.
Perks:
- $100 annual credit on hotel stays purchased through Chase.
- Up to $120 credit every four years for the application fee for TSA PreCheck, Global Entry or Nexus.
- Complimentary one-year subscription to Apple TV, when activated by Dec. 31, 2026.
- Hotel and airline transfer partners.
- Until Dec. 31, 2027: Complimentary DashPass membership. Terms apply; see details here.
Travel protections:
- Emergency evacuation and transportation coverage.
- Primary rental car coverage.
- Trip delay reimbursement.
- Trip cancellation and interruption insurance.
- Baggage delay insurance.
