Sapphire Preferred's Hyatt transfer ratio cut to 4:3 is now live

Since October 1, 2026, existing Chase Sapphire Preferred holders (and anyone who applied before June 15) transfer Ultimate Rewards to World of Hyatt at 4:3 instead of 1:1, a 25% cut, and the 10% anniversary points bonus is gone. The same Hyatt ratio applies to Ink Business Preferred. The card keeps its $95 fee and gained 3X on gas, EV charging and vacation rentals and a $100 Chase Travel hotel credit.