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Chase And Hyatt Introduce A Fantastic New Credit Card, And Why I Won’t Be Getting It Anytime Soon
Recently, and to near-universal acclaim, Chase has introduced a brand new World of Hyatt Card.
Why all the fuss you ask? This card is an example of a truly valuable card working seamlessly with a truly valuable loyalty program that is both excitingly innovative and a significant improvement over the previous product.
The 60,000 Bonus Point Welcome Bonus
First of all, the welcome bonus (or sign up offer) is among the best ever offered on a hotel credit card. Hyatt points are now [unarguably] the most valuable hotel point currency (now that SPG’s Starpoints untimely end is imminent August 1st, 2018).
Click here for my referral link to the 60,000 Hyatt point offer!
Most people value Hyatt points at around 1.5-2 cpp, but in my experience I never get less than 3 cpp!
With this sign-up bonus, (the condensed version) you can earn 60,000 points after spending $6,000 total in the first 6 months. If you were to value Hyatt points conservatively at 2 ppc, then this sign-up would be worth $1,200!
The Earning Structure
Here is where you can start to see the big improvements over the previous Chase Hyatt card product.
With the new World of Hyatt card, you can now earn 4x at Hyatt (over the previous 3x).
Additionally, you can still earn 2x at restaurants and airlines – but now you can also earn 2x at cafes, coffee shops, local transit, taxis, mass transit, ride-share, fitness clubs and gym memberships.
The Annual Free Night
The free night at a category 1-4 hotel on your card anniversary remains unchanged.
But, you now have an additional path to another free night at a category 1-4 when you spend $15,000 in your card member anniversary year!
Upgrades To The Elite Status Benefits
Unchanged is the automatic Discoverist status you gain just by holding this card, but now you will also receive 5 qualifying night credits toward next tier elite status and 2 additional qualifying night credits with every $5,000 you spend on this card!
Why I’ve Decided Not To Upgrade…For Now
I love earning Hyatt points and I love staying at Hyatt hotels, so why would I not upgrade you ask?
Well, as with my current Chase Hyatt card, this would likely be another “sock-drawer” card for me, meaning I wouldn’t put a lot of everyday spend on it. In fact, I likely wouldn’t even put Hyatt spending on this card.
This is because I hold the Chase Sapphire Reserve which earns Ultimate Rewards points that can be transferred to World of Hyatt at a 1:1 basis. Because the main categories of travel and restaurants dining overlap, I’d essentially be earning a better 3x Hyatt points in those categories. Even on Hyatt stays, I’d still be earning 3x, but the vast majority of my Hyatt stays are through points.
Additionally, the annul fee on my current card is only $75, while this new card is $95, but I still get the same annual free night. And since I don’t plan on spending much on either card, the additional night on the new card is a non-starter.
Status-wise, I was lucky to gain Explorist status early using the MLife “flip-flop” trick, and thus, I may be able to keep that going for at least the foreseeable future, so wouldn’t need the boost towards Explorist.
Why I Won’t Be Closing My Current Card And Reapplying For The Chase World Of Hyatt Card
You may be asking yourself, “What about closing the Chase Hyatt card and then reapplying for the new World of Hyatt card and getting the 60,000 point bonus”?
Well, I’m currently above the Chase 5/24 rule, and even if this card isn’t subject to 5/24, I count myself among those who believe Chase is rapidly tightening their policies and closing accounts when ever they have any reason to suspect anything out of the ordinary. It’s simply not worth the risk to me to open more Chase cards now.
The Bottom Line: Chase And Hyatt Introduce A Fantastic New Credit Card, And Why I Won’t Be Getting It Anytime Soon
With all of that said (whew!), the new Chase World of Hyatt credit card is an amazing product that I would strongly recommend if you haven’t held a Chase Hyatt card before and you are under 5/24.
Click here for my referral link to the 60,000 Hyatt point offer!
If you are over 5/24 or have held a Chase Hyatt card before (like me), then you can decide for yourself if it makes sense for you to apply for the new card. If you don’t want to close your current card, you can also “upgrade” your card and earn 2,000 Hyatt points here, but your annual fee will increase by $20.
Either way, you can’t loose. The Chase Hyatt card or the Chase World of Hyatt card [you can’t hold both] should be in everybody’s wallet (or sock-drawer).
Cheers!
