I'm sure most of you just got this email..
Discontinuing the 7% 
Trip Cancellation/Trip Interruption Insurance
Your coverage has been increased from a maximum of $5,000 to $10,000 per covered trip. If your trip is canceled or cut short by sickness, severe weather or other covered situations, you can be reimbursed up to $10,000 per trip for your prepaid, nonrefundable travel expenses, including passenger fares, tours and hotels.*
Auto Rental Coverage
Your Auto Rental Collision Damage Waiver has been enhanced from secondary coverage to primary. So if the unexpected occurs, you can now rely on an enhanced level of coverage. Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most rental cars in the U.S. and abroad.*
Discontinuing 7%
Annual Points Dividend After 12/31/2015, you will no longer earn the 7% Annual Points Dividend. You will be awarded your final 7% points dividend in early 2016. You can still continue to enjoy the many other ways to be awarded rewards such as 2X points on travel and dining and 1 point on all other purchases.
Getting Cash
You can continue to redeem your points for cash through a statement credit or direct deposit into an eligible checking or savings account. However, Pay Yourself Back will no longer be available after 9/20/2014 and paper checks will no longer be available after 11/15/2014.
Earn on Travel
You will continue to earn an extra 1 point for each $1 of airfare and hotel accommodations booked through Chase.com/UltimateRewards until 12/31/2015. After that, you will no longer earn an extra point. We may periodically offer ways for you to earn bonus points through the program.
More info here - https://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/shared/marketing/page/ultimate-rewards-sapphire-...
Chase Sapphire Preferred® with Ultimate RewardsSM Program Agreement
(Rewards Program Rules and Regulations)
https://www.chase.com/ccpmweb/shared/document/sapphire_preferred_english_programrules.pdf
(Edit, added a few more key items)
12/19/19 
06/11/20 
07/02/20
This makes me really glad I apped arrival+ instead of CSP last week 
Sad that CSP got nerfed though.
Sad that CSP got nerfed though.
@Anonymous wrote:Does nobody notice that CDW becomes Primary? Isn't this supposed to be such a good news for travelers?
+1
@Closingracer99 wrote:
@Anonymous wrote:Does nobody notice that CDW becomes Primary? Isn't this supposed to be such a good news for travelers?
+1
I've never paid much attention to Rental Coverage.
What exactly does Primary/Secondary mean? Doesn't most of our own personal auto insurance cover rental? Could someone enlighten me
@cschick wrote:
This makes me really glad I apped arrival+ instead of CSP last week
This is REALLY minor nerfing IMO. I don't see how the 7% radically changes the value proposition. You either get good value from the card by transferring points, or you don't. Yes, the 7% has some impact, but I don't see it as make or break.
@vpae wrote:
@Closingracer99 wrote:
@Anonymous wrote:Does nobody notice that CDW becomes Primary? Isn't this supposed to be such a good news for travelers?
+1
I've never paid much attention to Rental Coverage.
What exactly does Primary/Secondary mean? Doesn't most of our own personal auto insurance cover rental? Could someone enlighten me
Primary means that the credit card insurance will pay first, and your personal insurance may not have to get involved (reducing premium hikes). This applies only to damage to the rental car though, damage to other vehicles, people etc will have to be paid by your insurance.
@vpae wrote:
@Closingracer99 wrote:
@Anonymous wrote:Does nobody notice that CDW becomes Primary? Isn't this supposed to be such a good news for travelers?
+1
I've never paid much attention to Rental Coverage.
What exactly does Primary/Secondary mean? Doesn't most of our own personal auto insurance cover rental? Could someone enlighten me
I pay zero attention to it since I don't drive at all 
Living in NYC I don't feel the need to pay for gas lol.
Also the 7% is minor nerfing imo