PSA: Chase UR Points → Hyatt Devaluation Coming October 1st

Starting October 1, 2026, the Chase Ultimate Rewards transfer ratio from the Chase Sapphire Preferred and Ink Business Preferred to World of Hyatt will drop from 1:1 to 4:3. Chase Sapphire Reserve cardholders are not impacted.

How many points should you transfer before October 1st?
That will depend on your travel goals and whether you have other transferable points through Citi, Capital One, or AMEX.

Personally, I plan to transfer all of my Chase Ultimate Rewards points to Hyatt above 25,000 points before the change takes effect. I want to keep roughly 25,000 Chase points available for other valuable transfer partners, including Air Canada, Singapore Airlines, and United Airlines. I also don’t think the Chase Sapphire Reserve at $795 per year is worth paying for solely to preserve the 1:1 Hyatt transfer ratio unless you’re earning 200,000+ Chase points per year from spending and regularly transferring them to Hyatt.

Another blow to Chase points
This change effectively devalues Chase points, especially because Hyatt has consistently been one of Chase’s most valuable transfer partners. I’m now taking a closer look at AMEX’s transfer partnership with Leading Hotels of the World (LHW). Some redemptions appear to offer up to 2 cents per point in value, although there are some important trade-offs: award pricing is directly tied to the cash price of the room, and taxes are still due on award stays. LHW also has a much smaller footprint with around 400 properties globally compared with roughly 1,500 Hyatt properties so it isn’t a direct replacement for Hyatt. The points and miles game continues to evolve, and this one hits particularly hard for me. I’ve been a Hyatt loyalist for the past three years, largely because of the outsized value Hyatt has offered for transferable points.

Conclusion: If you don’t have the Sapphire Reserve card and you value Hyatt redemptions, consider transferring your Chase points before October 1 while the 1:1 ratio is still available. The points game is changing. Again.