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It's no secret that
This is a public service announcement that we are very close to that date, and this is your last call for 1:1 transfers for Chase Sapphire Preferred® Card and Ink Business Preferred® Credit Card cardholders.
Chase To Lower Transfer Ratio to Hyatt on October 1
Cardholders of all Ultimate
Starting October 1, 2026, however, this great transfer ratio will no longer be accessible to those who hold the Sapphire Preferred or the Ink Preferred. The new transfer ratio will change from 1:1 to 4:3, a 25% reduction in value.
In practical terms, while you could convert 100,000 Ultimate Rewards into 100,000 World of Hyatt points, after the new ratio takes effect, those same 100,000 Ultimate Rewards will convert into 75,000 World of Hyatt points.
Should You Speculatively Transfer Chase Ultimate Rewards to Hyatt?
A speculative transfer is when you move rewards from one program to another with no plan for how you'll use those points or miles. In general, we recommend against speculative transfers, as airline and hotel programs are notorious for no-notice devaluations that can destroy your point balance overnight.
However, you might be thinking: “If my Ultimate Rewards are losing 25% in World of Hyatt value, should I go ahead and transfer my whole balance to Hyatt before October 1?”
In short, it depends. If you have redeemed World of Hyatt points for great value in the past and you'll soon be getting 25% less, you may have a strong case for a speculative transfer. If you know there's a strong chance you'll redeem them for maximum value in the next few months, it may make sense to convert as many points as you can.
However, Chase has plenty of fantastic transfer partners. If you want to hold onto World of Hyatt points for a rainy day, it might not be worth transferring them and subjecting them to Hyatt's expiration policy.
As someone who always finds good use for Hyatt points, I'd consider making this move, but it won't be for everyone.
A Sliver of Good News
The good news is that anyone with a Chase Sapphire Reserve® or Sapphire Reserve for Business℠ can continue transferring to World of Hyatt at a 1:1 ratio. This preserves the value of not just Hyatt point transfers but of the Ultimate Rewards program itself — World of Hyatt is the best Chase hotel transfer partner by a long mile.
Perhaps this update refocuses attention on these premium cards. Now that the only way to make Hyatt transfers deliver outsized value is by holding Sapphire Reserve, the $795 annual fee doesn't seem quite as bad.
Far from me to try to justify this loss of value for Sapphire Preferred cardholders, but at the end of the day, I get back a lot more from my Ultimate Rewards when I transfer them to World of Hyatt at a 1:1 ratio than I pay in annual fees. The $300 annual travel credit, $250 credit for select Chase Travel Hotels, and a few other perks also help take the sting off the steep annual fee.
$795Rates & Fees
- 8x points on all purchases through Chase Travel℠
- 4x points on flights and hotels booked directly
- 3x points on dining worldwide
- 1x points on all other purchases
$795Rates & Fees
- 8X points on all Chase Travel℠ purchases
- 5X total points on eligible Lyft rides through 9/30/2027
- 4x points on flights and hotels booked directly
- 3x points on advertising purchases made with social media platforms and search engines*
- 1 point per dollar on all other eligible purchases
Bottom Line
It's undeniable that this lowered transfer ratio to World of Hyatt will blunt the value of holding the Sapphire Preferred and Ink Preferred. All is not lost, however. You still have until September 30, 2026, to transfer points at a 1:1 ratio, and Hyatt remains one of the most valuable transfer partners in the Chase portfolio.
You can also always consider applying for a Sapphire Reserve to keep your 1:1 ratio intact and enjoy a variety of other benefits as a cardholder.
For rates and fees of the cards mentioned in this post, please visit the following links: Chase Sapphire Reserve® (Rates & Fees), and Sapphire Reserve for Business℠ (Rates & Fees)
