Chase Hyatt Devaluation
As if we haven’t suffered through enough massive devaluations this year, another major one lands this week. On October 1, transfers to Hyatt from Chase Sapphire Preferred®, Chase Ink Business Preferred® and Ink Plus and Corporate Flex credit cards will decrease from the current 1:1 ratio to 4:3. Going forward, holding one of Chase’s premium cards is the only way to maintain 1:1 transfers for your Ultimate Rewards. What should you do to prepare for the Chase Hyatt devaluation? Let’s talk through a few options.
What's Changing with Chase’s Hyatt Transfer Ratios?
On October 1, 2026, the Hyatt transfer ratio will change from 1:1 to 4:3 for existing Chase Sapphire Preferred, Chase Ink Business Preferred, Ink Plus and Corporate Flex cardmembers. (The change has already been in effect for new Sapphire Preferred cardmembers since June 15, 2026.) A 4:3 transfer ratio means that 100,000 Ultimate Rewards will amount to 75,000 Hyatt points. This drastically shifts long-term card strategy for those who care about Hyatt.
What Are Some Options Going Forward?
Here are a few different approaches you can take to manage the Chase Hyatt devaluation.
Keep a Sapphire Reserve In Your Household
If you have a stash of Chase points and want to maintain 1:1 Hyatt transfers, you’ll need to hold a Chase Sapphire Reserve® and/or the Sapphire Reserve For Business℠ card. As long as you have one of these cards in your household, a P1 can transfer points to a P2’s account and preserve the 1:1 transfer ratio for you both. (Here's how to combine Ultimate Rewards.) Those premium cards do both come with a hefty $795 annual fee, which will be the new annual price of admission for exchanging Chase points 1:1 for Hyatt stays. If you’re eligible for the cards’ current 100,000– or 200,000-bonus point welcome offers, the annual fee is well worth it in year one.
After that, the fee might not be as painful as you think. Stay with me here. First, remember that the $300 annual travel credit is arguably the most flexible and easy-to-use card perk out there. That effectively brings the annual fee to $495. Many of us on the ToP team have gotten excellent value out of the Sapphire Reserve's perks. Personally, I’ve had the card since well before last year’s card refresh and still consider it a long-term keeper. But if you find tracking the credits challenging, you could also redeem points using Pay Yourself Back at a rate of 1.25 cents each to cover the annual fee.
Remember What This Means for Your Other Chase Cards
Without one of the Chase premium cards, points earned for Hyatt redemptions will be devalued across all of your Chase Ultimate Rewards-earning cards. Love earning through the Chase Freedom® Flex℠ Credit Card’s quarterly rotating 5% categories? Devalued. Love earning through the 5x categories on your Chase Ink Business Cash®? Devalued. Taking advantage of +10x earnings through Paze? Devalued. Whatever you earn after October 1 will only transfer at a 4:3 ratio when those points are sent to Hyatt.
Get a Bilt Palladium Card
Bilt points currently transfer to Hyatt at a 1:1 ratio. Bilt gives you access to arguably the best roster of transfer partners in the biz. Best of all, you don't even have to be a cardholder to earn Bilt Rewards. You do, however, need to have Bilt Silver, Gold or Platinum status to transfer Rakuten earnings at a 1:1 ratio. The Bilt Palladium Card is a stellar earner, and its welcome offer also affords you Bilt Gold status through the year you earn it and the following year. Between the Palladium's earning structure and the potential to rack up points by shopping through Rakuten, there’s a chance to earn a lot of points for Hyatt. However, we still don’t recommend this card if you’re under 5/24. With a new 3/24 rule in effect for Chase business cards, it is more important than ever to make sure you get the Chase cards you want before moving on to personal cards from other banks.
Decide if a Speculative Transfer Makes Sense
OK, so we don’t usually recommend speculative transfers. But is it really speculative if you know you’ll definitely use the points? We're talking about Hyatt here. We can make an exception. Right? RIGHT?! Yes and no. Sorry! The crucial thing to remember is that we do not know what the future holds. Devaluations can happen at any time. Believe it or not, it’s already been nearly half a year since this year’s Hyatt award chart changes. The next devaluation could be around the corner. If you’re moving Chase points, move only what you think you’d realistically use up before anything changes again.
Chase Hyatt Devaluation: ToP Thoughts
October 1 may feel like a dark day for Hyatt fans. We are still barely done adjusting to the aftermath of this year’s award chart and annual category changes. And now, we have the Chase Hyatt devaluation to contend with. But as the door closes on some 1:1 transfers, you’ll have to decide which door(s) to open to plot your own path forward. Remember that new devaluations can happen at any time. More importantly, don’t be afraid to dip your toes into other hotel programs. Now more than ever, there’s power in being a free agent. What is your plan for this devaluation? Come and tell us your thoughts in the ToP Facebook group.
