Time is running out if you have a Chase credit card with a transfer ratio to Hyatt that changes from 1:1 to the new 4:3 ratio on Oct. 1. Impacted cardholders include those who opened the Chase Sapphire Preferred® Card (see rates and fees) before June 15, as well as Ink Business Preferred® Credit Card (see rates and fees) cardholders.

We’ve done some in-depth coverage on whether you should transfer points to Hyatt before the change, which is worth a read if you’re really on the fence about making a speculative transfer.

But if you want the short version on whether to transfer points to Hyatt before Oct. 1, here are the main things I’d consider — and what I’d do in some common situations.

• If you have a Chase Sapphire Reserve® (see rates and fees) or Chase Sapphire Reserve for Business℠ (see rates and fees) that is keeping the 1:1 ratio — or you plan to get one in the coming months — there’s no need to make a speculative transfer. You can combine your other Chase Ultimate Rewards points into that account and use its 1:1 Hyatt transfer ratio.
• If you’ve never redeemed points with Hyatt and don’t have at least a penciled-in plan to do so in the next 18 months or so, I wouldn’t transfer your points. Hyatt points expire after 24 months without qualifying activity, and once you transfer Chase points to Hyatt, you can’t move them back.
• If you periodically redeem points with Hyatt — say, at least once or twice a year — and don’t already have a large World of Hyatt balance, I’d consider moving at least some points now. You have a track record of putting Hyatt points to work, and transferring the same number of Hyatt points will soon cost you more Chase points.
• And, perhaps easiest of all, if you already have a specific Hyatt redemption in mind, I’d transfer what you expect to need before the ratio changes. There’s little reason to knowingly wait and spend 33% more Chase points for the same award after Oct. 1.

Related: 22 best Hyatt hotels in the world to book with points

In other words, if you have at least a rough plan to use Hyatt points — or a strong history that indicates you’ll probably need them within the next year or so — I’d consider speculatively transferring at least some of your Ultimate Rewards points before the ratio changes.

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After Oct. 1, you’ll need to transfer 33% more Chase points to get the same number of Hyatt points if your card’s ratio drops from 1:1 to 4:3. For example, 60,000 Hyatt points currently require 60,000 Chase points for accounts with a 1:1 ratio. At a 4:3 ratio, you’ll need to transfer 80,000 Chase points for the same 60,000 Hyatt points.

Related: How to transfer points from Chase to Hyatt: A step-by-step guide

On the other hand, if you’ve never redeemed points with Hyatt and don’t have at least written-in-pencil plans to use the program in the next 18 to 24 months, I wouldn’t transfer points before Oct. 1 just because the ratio is changing.

Chase Ultimate Rewards points are more flexible while they’re still with Chase. You can use them through Chase Travel℠ to take advantage of Points Boost or transfer them to another partner rather than locking them into a program you may or may not end up using the way you thought.

But if you know you want to transfer Chase points to Hyatt at a 1:1 ratio from a card that’s changing to a 4:3 ratio, now is the time.

Related: How many Hyatt points do you need to transfer before the Sapphire Reserve beats the Sapphire Preferred?