Chase announced a cut to what its points are worth at Hyatt: from 1 October 2026, some cards were to transfer at 4:3 instead of 1:1. The clearest way to understand that is in nights rather than ratios.
What the new ratio does
At 1:1, a Chase point becomes a Hyatt point. At 4:3, four Chase points become three.
On the terms Chase announced, as of 22 September 2026, 100,000 Chase points would arrive at Hyatt as 75,000 rather than 100,000. Running it the other way is more useful, because you book in Hyatt points: a night that costs 20,000 Hyatt points takes 20,000 Chase points at 1:1, and would take 27,000 at 4:3, since transfers move in blocks of 1,000.
That is 33 percent more Chase points for exactly the same night. The Hyatt price does not change. Your ability to reach it does.
Which cards are affected
Chase announced the new ratio for the Sapphire Preferred, the Ink Business Preferred, the Ink Plus, and the Corporate Flex.
The Sapphire Reserve and the Sapphire Reserve for Business were to keep 1:1. If your points sit on one of those, nothing in this post changes anything for you, and that gap between the two Sapphire cards becomes a real part of what the annual fee buys.
The dates Chase announced
Chase said an affected card applied for on or after 15 June 2026 gets the new ratio from the day the account opens.
For everyone else, Chase set the change for 1 October 2026, which made 30 September the last day it promised 1:1. We wrote this from Chase's announcement, so check the ratio for your card with Chase before you transfer.
Should you move points to Hyatt?
Only against a booking you actually intend to make.
Points that leave Chase for Hyatt cannot come back. They also sit exposed once they are there: Hyatt can reprice its own categories, and a balance parked in a hotel program has no optionality left in it. The flexibility was the thing you were holding.
So the honest test is whether you have a specific stay in mind, at a property you have checked, on dates that exist. If you do, work out the cost at the ratio your card gets before you move anything. If you are transferring because a deadline is approaching, you are converting a flexible balance into an inflexible one to avoid a loss you have not yet actually taken.
Most people who regret a transfer regret it for this reason, not because they missed a deadline.
What it says about transfer partners generally
A transfer ratio is not a fixed property of your points. It is a term the bank sets and can reset, and this is not the only change this year to come with a date attached rather than a warning.
The practical response is not to hoard or to panic-transfer. It is to hold points where they still have somewhere to go, and to treat the programs you can reach as the thing that matters, which is the argument in best credit cards for award flights. It is the same logic behind Flying Blue's Light awards, where the number held still and what it bought got smaller.
When you do reach for a balance, the question is still whether points or cash does more work on that particular trip, which we cover in points vs cash.
See what your points can still reach