No real surprise but Doctor of Credit reports that the Chase Sapphire Preferred 1.25 x redemption rate is also being phased out.

Much like the Reserve there will be grace period for redeeming existing points at 1.25x.

New feature is Points Boost up to 1.5x on top hotels and select flights, and up to 1.75x on premium cabin tickets with select airlines.

Same time frames as the Sapphire Reserve for the change effective dates and grace periods.