Chase Sapphire Preferred Changes Ratio for Transfer of Ultimate Rewards Points to World of Hyatt Points
Frank McBride • June 25, 2026
Changes are a mixed bag but Hyatt regulars won't be happy
Several weeks ago, Chase announced several changes to its Sapphire Preferred credit card benefits. Some were positive:
- Gasoline and EV charge purchases will earn Chase Ultimate Rewards (UR) points at 3X per dollar.
- Vacation home rentals with Airbnb, Vrbo, and others will also earn UR points at 3X per dollar.
- The hotel credit for hotels booked through Chase travel will increase from $50 to $100.
- The card now includes a complimentary Apple TV subscription.
- The card will cover the cost of Global Entry or TSA Precheck enrollment up to $120 every four years.
At the same time, Chase has dropped the 10 percent anniversary bonus on base points. While this modest bonus was a nice “thank you” every year, I doubt losing it will be a game changer for most cardholders.
The big negative change was that Chase will be devaluing the transfer ratio for card members transferring their Chase UR points to World of Hyatt points. Previously, the transfer ratio was 1:1 but the new ratio will be 4:3. In other words, 1000 UR points transferred to your World of Hyatt account will become 750 Hyatt points. For new cardholders, this ratio change starts immediately while the old 1:1 ratio will remain in place until October 1st for current cardholders.
After hearing about this new transfer ratio, my hope was that the Ink Business Preferred card, which has also offered the 1:1 transfer ratio for World of Hyatt points, would not follow with this policy. Alas, I recently received notice by mail that the new 4:3 ratio would also apply to the business card.
This change will be especially unwelcome in our household. Over the past ten years, Ms. Optimizer and I have used the World of Hyatt program and points for 110+ free hotel nights. The vast majority of these Hyatt points came from transfers of Chase UR points. In fact, just a few months ago, we used points transferred from our Chase Sapphire Preferred to stay in Hyatt hotels for 13 straight nights during a trip to Central Europe and Malta.
The new 4:3 transfer ratio will effectively lower the value of Chase points that ultimately go to the Hyatt program by 25 percent
as long as you hold only Chase Sapphire Preferred card. Unfortunately, this change in the transfer ratio comes on the heels of a recent devaluation in the value of Hyatt points due to increases in points needed for award nights at some properties.
Because Chase is honoring the old 1:1 transfer ratio for existing Sapphire Preferred cardholders until October 1st, there is time to move UR points and avoid the transfer rate change for now. Generally, I am not a fan of making prospective transfers of flexible points to airline or hotel programs until the very day they are needed for a reservation. However, given our household’s heavy use of Hyatt properties and high likelihood of future use, we will probably go ahead and transfer Chase points to the Hyatt program before that deadline.
Another possibility for those holding only a Sapphire Preferred card is upgrading to a Sapphire Reserve card at some time in the future to take advantage of the 1:1 transfer ratio. Although the Reserve has a high annual fee ($795), there are scenarios where the better transfer ratio along with other benefits might justify the card’s cost.
As someone who has made good use of the relationship between Chase and Hyatt, I am sorry to see this come to an end. At the same time, I am not surprised since this was such a great value for people interested in points and miles. What concerns me going forward is that Chase (and perhaps others who offer flexible points) will start changing transfer ratios on mid-level cards with annual fees of around $100 (such as the Sapphire Preferred card or the Citi Strata Premier card). If they do this, they will create tiers of transfer ratios to push consumers toward the much more expensive luxury travel cards. Another possibility is that varying transfer ratios might make the points and miles game more confusing.
As mentioned above, the negative changes to the Chase Sapphire Preferred card have been offset by some attractive new benefits. For consumers who are not interested in frequent Hyatt stays, it is actually a much stronger travel card now. And, the annual fee remains $95.
The points and miles world changes frequently, but one constant is that there is always opportunity for turning your routine credit card spending into less expensive and more comfortable travel. At Travel Rewards Optimizer, we keep abreast of these changes and create customized plans to help you get the most out of your travel rewards credit cards.
We are ready to help you turn your routine credit card spending into the travel of your dreams.
Some good news in points and miles (and one warning)
A change in favor of airline passengers (for a change)
The Autograph Journey's transfer partner list grows slowly but steadily
Points and miles free up the travel budget for pilsner, paprika, and pastizzi*
As the summer travel season approaches, this is a friendly reminder to avoid "dynamic currency conversion" (DCC) when making credit card purchases outside of your home country. DCC gives you the option of selecting a payment amount in your home currency rather than in the local currency. Typically, when presented with a credit card reader at a shop or restaurant, the touch screen will show purchase amounts in the local currency and in US dollars (for those with American credit cards) and you have the opportunity to choose. I have been seeing these “offers” for several years now and have learned, after doing a little mental math, they are almost always a bad deal for the purchaser. When presented with a credit card reader, I always choose to pay the amount shown in local currency rather than the amount shown in US dollars. During a recent trip, I was making purchases in Euros, Hungarian Forints, and Czech Korunas. From what I could tell, the option of paying in dollars inflated the cost of the purchases around an average of five percent (5%). Once, a card reader screen acknowledged that making the purchase in dollars added an eight percent (8%) fee. Even a credit card with a foreign transaction fee (which you should avoid using when traveling abroad) would have added only three percent (3%) to the tab. Currency games aside, Visa and MasterCard offer reasonable exchange rates when you choose to pay in the local currency. Upon returning home, our credit card statements showed exchange rates that were quite close to market rates. It is reasonable and fair for the credit card issuers make a fraction of a percent here and there as they are performing a service and accepting currency risk (although very briefly). But, claiming to offer a “preferential” rate to pad their bottom line is disingenuous. Because exchange rates are reasonable, using credit cards while traveling abroad is still worthwhile for a points and miles program as long as you avoid cards with foreign transaction fees. Travel oriented cards can offer 2X and 3X spending bonuses for transportation and restaurants to give you a leg up on saving money and accumulating points or miles for your next vacation.
I have read a great deal recently about crowding at airport lounges or even lengthy waits to get into lounges. Hartsfield-Jackson Atlanta International Airport, dominated by Delta Airlines, has eight Delta Sky Clubs (there is one in each of the airport’s seven concourses except for Concourse A which has two). Even with the wide availability of Sky Club options, many of the Atlanta locations still get crowded and can have long lines of travelers waiting to get in. Despite flying Delta through Atlanta many times in the past couple of months, Ms. Optimizer and I have avoided this problem. We have used the Fly Delta app to keep us apprised of which Sky Clubs are crowded, and which are relatively empty. Although we might prefer a Sky Club near the gate we will use for our next flight, we often use a Sky Club on an adjacent concourse if the Sky Club closest to our gate is crowded or has a line. The Atlanta International Airport has a straightforward configuration of parallel concourses starting with Concourse T, followed by Concourses A through F. These seven concourses are connected by the Plane Train. The Plane Train can transport you between adjacent concourses in about a minute. Or, if you want to get in some steps, you can walk to an adjacent concourse in about five minutes (less if you use the moving sidewalk). The walkways are below ground level and can be accessed where you get on the Plane Train. The Fly Delta app is easy to use for assessing Sky Club capacity. When you arrive in Atlanta, go to the Delta Sky Club tab (it has a cocktail glass icon) and open. It will open to a list of the Atlanta Sky Clubs and describe their status ranging from “extremely busy” to “not busy.” Even if you can get into an “extremely” busy Club, bear in might that you might be the last person who brings the Club to full capacity. We have found that a short walk to the next concourse is well worth it as a less busy club offers a better choice of seating and a more relaxed atmosphere (and less likelihood of lines at the buffet, bar, coffee machine, etc.). But, don’t forget to budget enough time to return to the concourse with your departure gate!! We are ready to help you turn your routine credit card spending into the travel of your dreams.
Yesterday, I posted about how the Barclays American Aadvantage Aviator MasterCard will be disappearing soon . Along with Citi, Barclays offers a co-branded American Airlines credit card that gives points and miles players two options for amassing American miles. Even though this “double play” will not be an option much longer, there are new opportunities for travelers who want to earn free flights on American. American Airlines is Now a Citi Transfer Partner The recent launch of the premium Citi Strata Elite card coincided with a new ability to transfer Citi Thank You points to American miles. Previously, a key weakness of the American Aadvantage program was that it did not have a transfer partner like Delta (which takes transfers of American Express Membership Rewards points) or United and Southwest (which take transfers of Chase Ultimate Rewards points). This meant that accumulation of American miles required spending on co-branded American credit cards (with limited bonus categories), buying miles at a cost well above their fair market value, or actual flying. Now, with Citi cards that generate Thank You points, travelers can accumulate American miles more quickly and get better value. The Citi Strata Elite card ($595 annual fee) offers 3X points for restaurants (6X on Friday and Saturday nights), 6-12X points for travel booked on Citi’s travel portal, and 1.5X on other purchases. The Citi Strata Premier card (with a $95 annual fee) offers 3X points on air travel, hotels, restaurants, supermarkets, and gas. It is worth noting that, because you can exchange Thank You points for American miles at a 1:1 ratio, the bonus point structure for the Citi Strata Premier is better than that of most co-branded American Airlines cards for the purchase of American flights (3X vs. 2X) . The lone exception is the $595 American credit card with offers a 4X bonus for American purchases and gives you Admirals Club access. You Can Even Make Transfers to American with No Annual Fee Citi Cards In a post from a couple of years ago, I discussed how some credit cards with annual fees of about $100 were the keys to unlocking value because they allowed cardmembers to transfer flexible points to airline and hotel partners. However, Citi’s recently added option of turning Thank You points into American Miles also applies to cards with no annual fee such as the Citi Double Cash card and the new Citi Strata card. While it is nice that cardmembers can make these transfers with a no annual fee card, it is important to point out that rather than a typical 1:1 transfer ratio, the ratio is 1000:700 with these free cards. This means that you would get only 700 American miles for cashing in 1000 points. The consensus value of an American mile is about 1.4-1.5 cents, so this transfer nets out to a value of about one cent per Thank You point, about the same as the return you get from using these cards for cash back. It might make sense to use a few thousand Thank You points this way if you have some miles in your American account that need to be “topped off” to get a free flight. However, if you have a larger number of Citi Thank You points to work with or are interested in flying American with regularity, you should spring for one of the cards with an annual fee that will give you a better transfer ratio. It is unfortunate that the co-branded Barclays card will disappear soon (although they are still accepting applications ) but, on balance, the ability to convert Thank You points to American miles will provide more opportunities for American award flight than in the past. Because credit cards like the ones discussed in this post can play a significant role in your points and miles pursuit, it is important to develop a comprehensive program to make sure you are getting the most free travel from your routine credit card spending. When we design a custom Travel Rewards Optimizer plan for you, we take your travel goals, travel habits, spending patterns, and preferences into account. We want to ensure that the cards we recommend for you can quickly generate free travel and provide relevant benefits while keeping your annual card fees under control. We are ready to help you turn your routine credit card spending into the travel of your dreams.
UPDATE: As of 9/30/25, Barclays has stopped offering this card. I hope that those of you who were interested were able to pick up this card. Barclays offers several co-branded travel cards, but will soon stop offering its American Airlines card as an agreement between American and Citi gives Citi exclusivity in offering a co-branded American Airlines credit card. Although the Aadvantage Aviator’s days are numbered, it is still available and offers an excellent opportunity to pick up a quick signup bonus. Barclays American Aadvantage Aviator MasterCard This card has been part of an American Airlines “double play” that both Ms. Optimizer and I have used. It is also a quick and inexpensive way to add Aadvantage miles to your account. The current sign-up bonus offer is 50,000 miles after you have paid the $99 annual fee and made your first purchase on the card in any amount. In other words, you could get 50,000 miles added to your Aadvantage account in just one billing cycle and with a minimal spend. Our estimate is that these miles are worth perhaps $700. Like many airline cards, the Aviator offers a free checked bag as well as earlier boarding when flying American. The bonus structure for spending is not particularly exciting as you get a 2X mile bonus for American Airlines purchases and one mile per dollar for all other purchases. Once Barclays gets dropped as American’s partner, my understanding is that this product will get converted to a Citi product. Any American miles you earn will, of course, remain in your account. Risks of Applying for This “Short Termer” Card From what I understand, there is little risk to the 50,000 mile sign-up bonus assuming you complete the minimum spending in a timely fashion. American miles stay in your Aadvantage account whether coming from a Barclays product, a Citi product, flying American, or other activities. One risk is the temptation to “earn and churn” with this card. I like to think of the points and miles game as a long term and sustainable hobby and counsel clients to “play nice” with issuers rather than grabbing bonuses and cancelling the card after one year. Potential applicants should determine if they want to build a relationship with Barclays, especially as Barclays offers other co-branded travel cards you might want in the future including JetBlue, Emirates, Frontier, Lufthansa, Breeze, Wyndham, and Carnival. Another consideration is that any new credit card can have an impact on your ability to get approved for future credit cards (i.e., the Chase 5/24 rule). You do not want to hinder future opportunities just to pick up some easy miles. But, if this card makes sense for you and can fit into your future travel plans, it is better to apply sooner rather than later. Because credit cards like this one can play a significant role in your points and miles pursuit, it is important to develop a comprehensive program to make sure you are getting the most free travel from your routine credit card spending. When we design a custom Travel Rewards Optimizer plan for you, we take your travel goals, travel habits, spending patterns, and preferences into account. We want to ensure that the cards we recommend for you can quickly generate free travel and provide relevant benefits while keeping your annual card fees under control. We are ready to help you turn your routine credit card spending into the travel of your dreams.
Ms. Optimizer and I do not shop a lot when we travel but, Ms. Optimizer thinks alpacas are cute and likes things made of their wool. So, we went shopping for knit products during a recent trip to Aguas Calientes, Peru. As we were about to pay, we saw the sign pictured above with an offer from Visa/MasterCard offering an opportunity to: “Pay in your own currency and get a preferential exchange rate” I have been seeing these “offers” for several years now and, after doing a little mental math, they are almost always a bad deal for the purchaser. When presented with a credit card reader, I always choose to pay the amount shown in local currency rather than the amount shown in US dollars. In the case of the purchase of some alpaca blankets, I was given the choice of paying: 1) 420 Peruvian soles; or 2) a bit over $125 US dollars and chose the local currency. When I reviewed my credit card statement, the charge ended up being a little over $117. Had I taken the option of the “preferential exchange rate,” I would have paid an extra eight dollars. Even a credit card with a foreign transaction fee of 3% (which you should avoid using when traveling abroad) would have added less than four dollars to the tab. Currency games aside, Visa and MasterCard offer reasonable exchange rates when you choose the local currency. During our trip, the exchange rate for the Peruvian sol was 3.55 soles to the US dollar. My credit card statement reflected a rate of 3.57 which is entirely reasonable. It is fair for the credit card issuers make a fraction of a percent here and there as they are performing a service and accepting currency risk (albeit briefly). But, claiming to offer a “preferential” rate to pad their bottom line is disingenuous. Because exchange rates are reasonable, using credit cards while traveling abroad is still worthwhile for a points and miles program as long as you avoid cards with foreign transaction fees. Travel oriented cards can offer 2X and 3X spending bonuses for transportation and restaurants to give you a leg up on saving money for your next vacation. We are ready to help you turn your routine credit card spending into the travel of your dreams.
At any given time, I tend to use only two or three different credit cards as those few cards address the points and miles strategy I am currently following. Although I might carry only two or three cards in my wallet, there are several cards with annual membership fees that I hold onto even though I use them very little. So, why would I keep paying the annual fees year after year for cards that add little to my points and miles totals? American Express Delta Gold Card ($150/year) My first choice for domestic travel is Delta and this card generates two Delta SkyMiles for every dollar spent with Delta, at supermarkets, or at restaurants. However, I put most of my supermarket and restaurant purchases on an American Express Gold card because it yields four Amex Membership Rewards (MR) points per dollar and these MR points can transfer to Delta at a 1:1 ratio. I put airline purchases on an Amex Platinum Card as that card gives you five MR points per dollar. So, by using the Gold and Platinum cards in lieu of the Delta card for those purchases, I am able to get my free Delta flights twice as fast. However, I keep the Amex Delta Gold card for one key reason – its “TakeOff 15” feature. This lets you redeem Delta SkyMiles for 15 percent less than a SkyMiles member who does not hold one of these cards. As an example, an award flight that would otherwise cost 40,000 SkyMiles will cost 34,000 SkyMiles to a cardholder. If I am taking Delta flights that would otherwise cost 100,000 SkyMIles in total per year, that 15,000 mile reduction is worth about $150-175 which covers the annual fee. In addition to the “TakeOff 15” feature, cardholders get their first bag checked for free and earlier boarding. The earlier boarding has ensured that I have found adequate overhead bin space on most of my Delta flights. The Amex Delta Gold card is useful because it enhances my trips on Delta and helps me obtain award travel faster. However, it has little use outside of travel on Delta and I would cancel or downgrade this card if I did not fly Delta enough to get value from it. American Express Platinum Card ($890/year for membership + one authorized user) This card accounts for a very large chunk of my credit card annual fee budget. And, I make few purchases with it. The sole exception is airline spending because the Amex Platinum generates five MR points for every dollar spent. Most other purchases give you one MR point per dollar, so I use other cards for those purchases. The key benefit of this card for Ms. Optimizer and me is access to airport lounges when traveling. The extensive network of lounges offered by this card includes Delta lounges (when flying Delta), American Express’ proprietary Centurion lounges, and the 1400+ lounges worldwide covered by the Priority Pass. Several other benefits of the Amex Platinum card revolve around air travel. They include a $200 airline fee credit, a $179 CLEAR credit, a $200 Uber credit, and a $240 digital entertainment credit. Despite the high cost, we feel like we are getting good value as long as we are flying with some frequency. However, we would cancel this card if we foresaw an extended period of minimal or no air travel. Chase World of Hyatt Card ($95/year) A key benefit of this card is that you get one free room at your annual renewal. Hyatt has eight award levels and, while you must choose from award levels 1 to 4, it is easy to get a free room that would otherwise cost several hundred dollars. Recently, I used my annual free room benefit for a $600 room. Over the years, I have tended to get free rooms going for at least $300. This free room benefit alone pays for the annual fee. Other benefits include occasional upgrades and priority for early check-in and late check-out. On the occasions when we purchase Hyatt rooms or spend money at their properties (restaurant, parking, etc) we do use the card because Hyatt purchases yield four Hyatt points per dollar spent. Also, this card offers worthwhile bonuses from time to time (often the fourth quarter of the year) for achieving some spending threshold. Citi Strata Premier ($95/year) This travel card generates Citi ThankYou points with decent bonuses (3X) for gas, restaurants, supermarkets, hotels, and air travel. However, as I prefer to earn Chase points and Amex points, I do not use this card often. The primary reason I happily pay for this card is that it is pairs with a Citi Double Cash card ($0 annual fee) that gives you two Citi ThankYou points per dollar spend on any purchase. The Double Cash card is essentially a two percent cash rebate card, but if you also have a Strata Premier card, you can transfer these points to airline and hotel partners. With some airline redemptions, I have been able to get three cents or more per point which triples the value of the points I earn with the Double Cash card. Where the Travel Rewards Optimizer Fits In When we create Travel Rewards Optimizer plans for people, we try to help clients get the most travel reward value with the least spending (including spending on credit card fees). In some cases, paradoxically, there are significant benefits to be gained with cards that you rarely use. We take these and many other factors into account to design custom and robust plans to get you to your next vacation faster. We are ready to help you turn your routine credit card spending into the travel of your dreams.
