The Chase Sapphire Preferred has been in my wallet since my third year of building credit, and it's the card I recommend more than any other for someone making their first jump into points. So when Chase rolled out a full refresh on June 15, 2026, I read through all the details — and there's even more to love here than the headlines about "free Apple TV+" suggest.
There's a lot to like here. Here's a clear breakdown of what changed, what it's worth, and why the $95 fee continues to deliver.
The 100,000-Point Welcome Bonus
This is the part that made the refresh news. Chase is offering 100,000 Ultimate Rewards points after you spend $5,000 in the first three months. That's notable not because the number is huge, but because of how rarely it appears — this is only the third time in the card's 17-year history that the bonus has hit 100K. The prior windows were a stretch in mid-2021 and a brief one in spring 2025.
Putting a value on it is a little more nuanced now. Chase has phased out the guaranteed flat 1.25x value for travel booked through the Chase Travel portal in favor of a dynamic "Points Boost" system. You can still get 1.25x or higher on select flights and hotel stays that carry a Points Boost offer — but any redemption without one nets you a flat 1 cent per point. So 100,000 points is worth at least $1,000, and meaningfully more when you book a boosted redemption or transfer to the right airline or hotel partner. If you've been considering this card, a 100K window is a great moment to apply — these elevated offers come around rarely.
What Got Better
Beyond the bonus, several ongoing benefits improved — and these are the ones that matter year after year, not just in year one.
The hotel credit doubled to $100
The annual Chase Travel hotel credit went from $50 to $100. This is the single most important change for the math, because it's a recurring credit. If you book even one hotel night a year through Chase Travel — and most travelers do — that credit alone now covers the entire $95 annual fee. The card effectively pays for itself before you've earned a single point.
A new Global Entry / TSA PreCheck credit
The Preferred now includes up to $120 in statement credits every four years for Global Entry, TSA PreCheck, or NEXUS. This perk used to be reserved for premium cards like the Sapphire Reserve and Amex Platinum, so seeing it on a $95 card is a real upgrade. Spread over four years that's ~$30/year of value, and it's effectively free airport time back.
A free year of Apple TV+ (or Apple One credit)
Cardholders get one year of complimentary Apple TV+ — about $156 in value — when activated by December 31, 2026. If you already pay for a bundle, Chase offers an alternative: a $7.50 monthly credit toward any Apple One plan for up to 12 months instead. It's a lifestyle perk, not a travel one, and it signals where Chase is heading — building everyday value into the card so it stays in your wallet year-round, not just on vacation.
A DashPass membership
The refresh adds complimentary DashPass for at least a year (activate by 12/31/27), which means $0 delivery fees and lower service fees on DoorDash, plus a $10 monthly promo on non-restaurant orders (think grocery and convenience). Used consistently, that's another ~$120/year of value hiding in plain sight.
The New Earning Categories
The rewards structure got wider too. The headline 5x and 3x rates are intact, and Chase added several everyday categories that now earn even more.
The gas and EV charging addition is the standout for me. It makes the Preferred even stronger as an everyday card — it now earns 3x at the pump, which is where a lot of us spend without thinking.
A Few Program Updates to Note
Alongside the new benefits, Chase is refreshing two parts of the program worth knowing about so you can plan around them.
First, the 10% anniversary points bonus is being retired. Previously, the Preferred added bonus points each year equal to 10% of your total annual spend. With this refresh, that value moves into the stronger everyday earning rates and the expanded credits instead.
Second, the World of Hyatt transfer ratio is moving from 1:1 to 4:3. For new cardholders this is already in effect; existing cardholders transition on October 1, 2026. Hyatt remains one of the most rewarding Ultimate Rewards transfer partners (in my cashback vs points post I share booking a $350 Hyatt night for 8,000 points). Under the new ratio, 8,000 Hyatt points takes about 10,667 Chase points — still a strong redemption, and easy to factor into your transfer timing.
So — Is It Still Worth $95?
Easily. The fee didn't move, and the recurring value did. Just stacking the obvious credits — the $100 hotel credit, the amortized Global Entry credit, DashPass, and a year of Apple TV+ — gets you well past $95 before you factor in a single point earned. For a first travel card, it remains the best on-ramp into the points world, and a 100K welcome offer makes the timing about as good as it gets.
The Hyatt ratio change is mainly relevant to dedicated optimizers who maximize transfer value. For everyone using this as their everyday travel-and-dining card, the refresh is a clear win.
If you're planning to apply, you're welcome to use my Chase Sapphire Preferred referral link — it helps support this site at no cost to you.
Make your spending work for you.
