Chase Fixed the Biggest Problem With the Sapphire Preferred
This is the June 14, 2026 edition of the LazyPoints Weekly newsletter. It goes out by email every Sunday at 8:00 a.m. Pacific–unless I oversleep–and is archived here on the blog. Want it straight to your inbox each week? Sign up here.
The most heavily praised—and promoted—credit card on the market just got a lot better. The Chase Sapphire Preferred has long been a points-world darling, but one I’ve never really liked because it had three pretty big problems:
It cost real money to hold in a world where many excellent cards provide enough value to easily offset their annual fees
It had solid earning rates, but rarely the best, with its earning structure largely matched by better cards from Bilt
After Chase eliminated its travel portal redemption bonus, it offered few easy options for value travel on points
This week, Chase made some big changes to the Sapphire Preferred, fixing the first problem, helping the second, but making the third even worse:
📈 3x points on gas, EV charging, and vacation rentals
📈 Chase Travel hotel credit jumps from $50 → $100
📈 $120 Global Entry/TSA PreCheck credit every 4 years
📈 Emergency evacuation and transportation coverage added
📉 Hyatt transfer ratio drops from 1:1 → 4:3
📉 10% bonus on base points eliminated
In some ways, this completely changes my outlook on the Sapphire Preferred. It’s now the only mid-tier travel card that fully justifies its annual fee with just a single, easy-to-use credit. Plus it now has multiple 3x categories to distinguish it from competitors like the Bilt Obsidian. That alone makes it a solid keeper card and a relatively low-maintenance option for lazy travelers.
But it’s still very hard for me to recommend because the points have few options for lazy value. Chase doesn’t have a single transfer partner that reliably offers low-point, low-fee redemptions for long-haul international travel. And while Hyatt still offers some low-cost redemptions at the budget end of its portfolio, that value suffers greatly from the reduced transfer ratio on this card. There are some decent deals out there, but nothing like the bargains you can find with Amex, Bilt, or Citi points. That said, Chase points have the best value floor, since you can redeem for statement credits on any purchase, travel or not, for at least 1¢ each. In that sense, I love them as a backstop when I need to use points but don’t want to burn more valuable ones on an inefficient redemption.
Of course, some of Chase’s partners can be great for premium travel: United and Air Canada in particular are standouts for low fees and decent availability. Even putting every dime of my annual card spending on a Sapphire Preferred probably wouldn't earn enough points for a single round trip business-class ticket each year. But if you’re a big spender, the economics might make more sense for you.
Lazy Take 🦥
Despite the positive changes, my view of the Sapphire Preferred hasn’t changed: it’s great for the initial bonus, but I can’t think of many situations I would want to use it after that. But if you want a premium travel card with a modest fee and an easy way to earn back that fee, it starts looking like a solid option if you don’t mind sacrificing the cheaper award options available with other cards.
I wouldn’t run out and get one just because of these changes, though. The current welcome offer is solid historically, but I have a feeling we’ll see better in the future.
This week on the blog 📝
I’ve stopped thinking of Bilt in terms of “points on rent.” Instead, I focus on how it rewards card spending. That makes comparing it to other cards easier, and the comparison looks pretty good for Bilt.
Quick Points of the Week ⚡
More value 📈
More point-sharing options. Travel on Points reports that pooled United miles can now be used for partner airline redemptions, while Frequent Miler noted that Rove miles can now be shared with other Rove users.
Philippine Airlines joining Oneworld in 2027. Great news if you have status or points with a Oneworld partner like Alaska or American Airlines next year. (Upgraded Points)
Devaluations 📉
Wells Fargo points losing free points sharing. Starting in September, you won’t be able to freely move points between member accounts—and if you have multiple accounts in your name, they won’t combine automatically. (Travel with Grant)
Choice award rates going up in Japan. One of my absolute favorite redemptions appears to be taking a hit—some Choice hotels in Tokyo and Osaka that were available recently for 8,000 points have soared to 20,000 points or more. 😢 (TPG)
Hilton will charge for (some) elite upgrades. The chain will offer “more choice” to elites—including the option to pay for upgrades rather than getting them for free. (I’ve noticed Hilton pushing early online check-in recently, where there seems to be no trace of complimentary upgrades.) (One Mile at a Time)
Notable Transfer Bonuses ⬆️
Chase → Virgin, 30% bonus. Another occasionally-useful program that has hiked fees on award tickets recently. Because the points don’t expire, I occasionally send some points to Virgin when there’s a 30%+ bonus to save up for one of those cheap flights to London. I recently used some for a flight to Portugal—not a great deal, but the best one available at the time on that route. But the best bet is usually not to transfer points until you’re ready to book a specific deal with them.
Nerdy Points Savings 🤓
Flying a low-cost carrier? I’m way too lazy for this one, but you might be able to save money by buying your ticket in-person at the airport—even for future travel. Thrifty Traveler explains.
Keep an Eye On 👀
Credit cards getting integrated into AI. Visa is working with ChatGPT to let the chatbot use your card to shop for you. (AP)
Be careful with Amex Resy credits. Starting in August, the credit will only apply if the Resy website or app identifies a restaurant as credit-eligible. (Reddit)
Sign up bonuses of the week 🎯
Links marked with an * are affiliate or referral links, meaning we may earn if you apply via our link.
I didn’t see any major new bonuses this week, but there is an increased offer on the no-fee Capital One Savor Rewards: $250 cash back after spending $500 in the first three months. That’s a meaningful increase from the typical $200 offer, but still well short of what you could earn with a travel card like those below.
Earning 3% cash back (or 3x miles if paired with a Venture card) at grocery stores, dining, entertainment, and certain streaming services, it’s a solid card and a great companion for the LazyPoints-favorite Venture X if you favor a simple setup. No 🔥for this one, but it could be a useful wallet addition for the right person.
Other great sign-up bonuses this week
50,000 points + $300 Bilt Cash + Bilt Gold status on the Bilt Palladium (our take: 🔥🔥🔥🔥)
100k points + 25k companion discount on the Atmos Summit (our take: 🔥🔥🔥🔥)
150k points on the Chase Sapphire Reserve* (our take: 🔥🔥🔥) ends tomorrow
185k points on the IHG Premier (our take: 🔥🔥🔥)
90k miles on the Delta Gold (our take: 🔥🔥)
80k miles on the Citi AA Platinum Select (our take: 🔥🔥)
175k points on the Hilton Aspire (our take: 🔥🔥)
125k points on the IHG Traveler (our take: 🔥)
100k points on the JetBlue Premier (our take: 🔥)
125k pts + 1 night on the Marriott Boundless (our take: 🔥)
100-125k miles on premium Delta Cards (our take: 🔥)
100k points and $100 on the Hilton Honors (our take: 🔥)
60k points on the Choice Privileges Mastercard (our take: 🔥)
90k miles on the Citi AA Globe (our take: 🔥)
150k points on the Morgan Stanley and Schwab Platinums (our take)
100k miles on the Citi AA Executive (our take)
Up to 100/175k on the Amex Gold/Platinum (our take)
Lazy Pick ✅ (Affiliate)
My new go-to charger. I’ve been testing the INIU Ultra Mini portable charger lately, and I’m a fan. It’s lightweight and pocket-sized, and has a detachable charging cable that has saved me from my forgetfulness on multiple occasions. The amount of charging it offers won’t blow you away, but it has been perfect for me on domestic travel where portability is a more important consideration. (As an Amazon Associate I earn from qualifying purchases if you use the link above.)
Enjoy the weekend! 🦥
And the World Cup! 🇺🇸⚽