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Chase announced some major changes to the Chase Sapphire Preferred® Card on June 10, 2026 and one piece of news has been devastating the internet: the Hyatt transfer ratio is dropping from 1:1 to 4:3.
Unfortunately, that's not the only card that's about to take a beating: the Ink Business Preferred® Credit Card Hyatt transfer ratio is also dropping from 1:1 to 4:3, but on a slightly different timeline.
If you're planning a future Hyatt stay, you need to understand what that actually means for your points. Under a 4:3 ratio, Chase points would transfer to Hyatt at 75% of their current value. That means a 75,000-point Hyatt award night would require 100,000 Chase points instead of 75,000.
The change is effective October 1, 2026 for all existing Ink Business Preferred cardmembers, and new cardmembers who apply on or after October 1, 2026 will have the 4:3 ratio immediately. After October 1st, all Chase points earned from the Ink Preferred will transfer at a 4:3 ratio. For business owners who valued the Ink Preferred and Chase points for their transferability to Hyatt, they'll now have to consider this change in their card strategy.
Previously, every 1,000 Chase points transferred to Hyatt became 1,000 Hyatt points. A clean, 1:1 ratio that made the value proposition easy to understand. Under the new structure, that same 1,000 Chase points nets you only 750 Hyatt points. Business owners who are Hyatt loyalists are most effected by this change.
When the new ratio takes effect depends on your cardholder status. There are 3 scenarios:
| Cardholder Type | Hyatt Transfer Ratio | Effective Timing |
|---|---|---|
| Applied before October 01, 2026 | 1:1 temporarily | Keeps 1:1 through October 1, 2026 (then 4:3 afterwards) |
| Applies on or after October 01, 2026 | 4:3 | Effective immediately |
| Chase Sapphire Reserve® and Sapphire Reserve for Business℠ cardholders | 1:1 | No change to Hyatt ratio |
New Ink Preferred cardholders who apply before October 1, 2026 can still lock in the 1:1 Hyatt transfer ratio temporarily, making the months leading up to October 1, 2026 especially important. If you've been considering the card, here's a quick summary of the card's welcome bonus and earn rates.
You can use nextcard's Ink Business Preferred Calculator, to see if everything that comes with the card will make it worth the $95.
The chart below shows how many Hyatt points you'll be "losing" with the new ratio and the value of that difference calculated at 1.81 cpp.
| Chase points transferred | Sapphire Reserve Hyatt points at 1:1 | Ink Business Preferred Hyatt points at 4:3 | Hyatt points difference | Added value (Difference value at 1.81 cpp) |
|---|---|---|---|---|
| 25,000 | 25,000 | 18,750 | 6,250 | $113 |
| 50,000 | 50,000 | 37,500 | 12,500 | $226 |
| 100,000 | 100,000 | 75,000 | 25,000 | $453 |
Long story short: the more points you're transferring, the harder you're going to be hit by this devaluation.
Travelers were already adjusting to higher award rates at some properties, and now the move from a 1:1 transfer ratio to a 4:3 ratio makes those redemptions even harder to make work. For anyone who has relied on Chase points as one of the best ways to book Hyatt stays, the back-to-back changes meaningfully reduce the flexibility of that strategy. This image shows the new Hyatt award pricing ranges that took effect on May 20, 2026.
Bilt Rewards (regardless of the credit card) transfers to World of Hyatt at a 1:1 ratio, and these recent Chase changes are giving Bilt a leg up in the credit card transfer rat race. At a 4:3 Hyatt transfer ratio, Ink Business Preferred cardholders would receive 25% fewer Hyatt points than Bilt cardholders from the same transferable-points balance; put another way, Bilt transfers yield 33% more Hyatt points than Ink transfers
The math is straightforward.
When calculated at a 1.8 cpp, that's a loss approximately valued at $270. And that just adds up continuously as you move more and more points.
For cardholders who keep Chase points primarily as a pipeline to Hyatt, the 3 Bilt cards are worth a serious look when contemplating a new card. A few reasons why:
That said, Bilt is not a Chase replacement. Firstly, the Ink Preferred is a business card; the Bilt cards are not. Also, the Preferred still earns 3x on the first $150,000 in combined purchases on shipping, advertising, travel, and internet/cable/phone services annually, categories that the Bilt card can't match. The strongest position for a Hyatt-focused earner is holding both cards and routing Hyatt-bound points through Bilt whenever possible while using the Ink Business Preferred for its category bonuses.
Existing cardholders don't need to rush to transfer Chase Ultimate Rewards points to Hyatt just because the October 1, 2026 deadline is coming up. But if you applied for the Ink Business Preferred® before October 1, 2026, and already know you'll use Hyatt points for a specific stay, transferring before then will be a smart move.
The safest case is when the math is already clear. Say you’ve found a Hyatt award stay that costs 40,000 points and you know you want to book it. In that situation, transferring 40,000 Chase points before the deadline helps preserve the full 1:1 value for a redemption you were already planning to make.
The risk comes from moving points without a real plan. Once Chase points are transferred to World of Hyatt, they generally can’t be sent back to Chase. That matters because Chase points are more flexible: you can use them with different airline and hotel partners, through Chase Travel, or simply hold them until a better redemption appears.
Before transferring, use nextcard’s Hyatt Award Category Map to see which Hyatt hotels fall into each award category and whether your target stay is likely to justify the transfer.
Although the Hyatt transfer ratio change stings, it doesn't affect every Ink Business Preferred® cardholder equally. For business owners whose Chase points are mostly fuel for airline transfers or other hotel partners, the Hyatt devaluation is a background detail. But if World of Hyatt is your primary redemption destination, the 4:3 ratio quietly shrinks the value of your points for that specific transfer partner.
The Ink Business Preferred® Card will start transferring Chase points to Hyatt at a 4:3 ratio instead of 1:1. The timing depends on your cardholder status. Existing cardmembers keep the 1:1 ratio until October 1, 2026. New cardmembers who apply on or after October 1, 2026 will have the 4:3 ratio immediately.
Yes, if you hold a Chase Sapphire Reserve® or Sapphire Reserve for Business℠. You can pool the points from your Ink Preferred into your CSR account first, then transfer to Hyatt at the full 1:1 ratio. If you're an existing Ink Business Preferred® cardmember, you'll be able to transfer your Chase points to Hyatt at the 1:1 ratio until October 1, 2026.
No, only World of Hyatt is affected. All other Chase transfer partners (including Air Canada Aeroplan, United MileagePlus, Virgin Atlantic Flying Club, Singapore Airlines KrisFlyer, and Southwest Rapid Rewards) still transfer at 1:1.
From a pure Hyatt-transfer-ratio standpoint, the answer depends on timing. Right now, the Ink Business Preferred and Bilt Obsidian Card are effectively tied if both transfer to Hyatt at 1:1. But if the Ink Business Preferred drops to a 4:3 Hyatt transfer ratio on October 1, 2026 for eligible existing cardholders, then Bilt Obsidian becomes the better Hyatt-transfer card after that date, assuming Bilt continues offering 1:1 Hyatt transfers.
Only if you have a specific Hyatt redemption planned within the next 12 months. The 1:1 grace period makes sense for booked stays or high-value redemptions like Park Hyatt properties at 25,000+ points per night, where the 4:3 gap adds up fast. If you have no near-term plan, don't transfer speculatively; Hyatt points expire after 24 months of inactivity.
