The Chase Sapphire Preferred is getting a major refresh on June 15th with new bonus categories and an upgraded hotel credit, but there's a painful catch that could cost Hyatt loyalists thousands of points. World of Hyatt is quietly dismantling years of goodwill as it chases a massive revenue target, and we break down what that means for your points strategy going forward. Qatar Airways is reopening a key East Coast route with wide-open business class award space at a price that's hard to ignore. Emirates first class — long considered out of reach for most points travelers — is suddenly more accessible than it's been in years due to a surprising shift in demand. We also cover a critical Chase Freedom activation deadline, a new Hyatt property on one of the world's most stunning beaches, and a heads-up for Capital One Lounge visitors at Dulles this summer.

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