One of the best ways to redeem Ultimate Rewards points is via high-value Chase transfer partners. But Chase recently announced it was reducing the Chase-to-Hyatt transfer ratio for select cardholders. Unfortunately, the Chase Sapphire Preferred® Card is among the affected cards.
As a Sapphire Preferred cardholder, the reduced Hyatt transfer ratio is a meaningful change — and it’s worth quantifying exactly how it affects the amount you need to spend to earn the same Hyatt stays.
Here’s what you should know about the reduced transfer ratio and how it will affect your redemptions.
New Chase-to-Hyatt Transfer Ratio
If you applied for the Chase Sapphire Preferred Card on or after June 15, you’ll already have the reduced 4:3 transfer rate when you transfer Chase points to Hyatt.
If you applied before June 15, you’ll continue to get a 1:1 transfer rate until Oct. 1, when your Chase-to-Hyatt transfer ratio will also drop to 4:3.
Why This Matters for Sapphire Preferred Cardholders
A reduced transfer ratio between Chase Ultimate Rewards and World of Hyatt makes Hyatt awards more expensive for Sapphire Preferred cardholders.
For example, at a 1:1 transfer ratio you’d only need to transfer 30,000 Chase points to book a 30,000-point Hyatt award. At a 4:3 transfer ratio, you’d need to transfer 40,000 Chase points to book the same award. Based on TPG’s June 2026 valuations, those extra 10,000 Chase points are worth $205.
Examples of How Many More Chase Points You’ll Need
To illustrate the impact of the reduced 4:3 transfer ratio, here are three real-world stay examples.
Long weekend at the Andaz Savannah (20,000 points/night)
A three-night stay costs 60,000 Hyatt points. At a 1:1 transfer ratio, you’d transfer 60,000 Chase points. Under a 4:3 ratio, you’d need to transfer 80,000 Chase points — an extra 20,000 points worth $410 based on current valuations.
One night at a Hyatt Place in Atlanta (4,500 points/night)
For a one-night stay costing 4,500 Hyatt points, you’d need to transfer 5,000 Chase points at a 1:1 ratio, or 6,000 Chase points at a 4:3 ratio — since transfers must be made in increments of 1,000 points. Even for a single night at a Category 1 Hyatt hotel, this decreased transfer ratio makes a difference.
Five nights at a Category 7 Hyatt (30,000 points/night)
A five-night stay at an aspirational Category 7 property requires 150,000 Hyatt points. At a 1:1 transfer ratio, you’d transfer 150,000 Chase points. Under a 4:3 ratio, you’d need to transfer 200,000 Chase points — an extra 50,000 points worth $1,025 based on current valuations.
What Does That Mean in Everyday Spending?
Another way to think about this change is how much more you’ll need to spend on your Sapphire Preferred Card to earn enough points for the same Hyatt redemptions. Because the card earns 3x points on dining and 2x on travel, the ratio reduction effectively means your everyday purchases now go less far toward Hyatt award nights than they did before — making it more important than ever to maximize bonus categories and consider whether a Chase Sapphire Reserve or a co-branded Hyatt card might offer better value for frequent Hyatt guests.
