Chase is making significant changes to its Sapphire Preferred credit card, introducing several new perks while removing or reducing some long-standing benefits.

The card, widely regarded as one of the most popular mid-tier travel rewards credit cards with a $95 annual fee, is being adjusted in ways that could benefit some users while disappointing others, especially those focused on Hyatt hotel redemptions.

Among the new benefits, cardholders will earn triple points on vacation rentals such as Airbnb and Vrbo, making the card more attractive for travelers who prefer short-term rentals over hotels.Gas and electric vehicle charging will also earn triple points, offering stronger rewards for commuters and road trippers.Chase is also expanding its travel insurance coverage, now including emergency medical evacuation and transportation protection.

In addition, users will receive a $100 annual hotel credit through the Chase travel portal, a $120 credit toward Global Entry, TSA PreCheck, or NEXUS every four years, and a one-year complimentary Apple TV subscription if activated by the deadline.However, several key benefits are being reduced or eliminated.

The most significant change is the devaluation of transfers to World of Hyatt, which will drop from a 1:1 ratio to 4:3 for new and existing cardholders over time.This makes Hyatt redemptions more expensive in terms of points.Chase is also eliminating its 10% annual points bonus, a feature that previously rewarded long-term spending on the card.Experts are divided on whether the overhaul is positive or negative.Some argue the added perks outweigh the losses for most users, especially those who do not heavily rely on Hyatt transfers.Others believe the devaluation significantly reduces the card’s value for serious points-and-miles travelers.

Overall, the changes highlight Chase’s shift toward enhancing everyday rewards categories and travel credits while reducing some of its most valuable loyalty transfer advantages.