There’s been a bit of hype the past few days over the Hyatt Visa by Chase, and the fact that through July, you’ll receive 20% of your redeemed points back, which can be an incredible value for some.
If you don’t have the card, you may consider applying now (make sure you apply with the version that gives you the $50 statement credit, if you do), although there may be a few reasons not to get the card if you don’t already have it. Don’t rush out and get it just because a bunch of bloggers tell you to get it – make an informed decision, and review the benefits and cons of getting it now.
When you get the card, after spending $1,000 in 3 months, you’ll earn 2 free nights at any Hyatt worldwide. This means you can use these free nights at Category 7 properties which are the most luxurious, and most expensive, including the “coveted” Park Hyatt Paris Vendome. This properties are valued at 30,000 Hyatt Gold Passport points per night, so at 2 nights, this benefit alone is worth 60,000 Hyatt Gold Passport Points.
Under the 20% rebate scheme this Spring, you’d need to redeem 300,000 Hyatt Gold Passport points in order to save 60,000 points, which equates to the 2 free nights you’d receive off of the card.
Why do I mention this? If you have no travel plans or don’t intend on using the 2 free nights within one year (which is when they expire), it may not make sense to get card now. It’s certainly not worth using the free nights at a lower category property, since the value of those free night certificates decreases dramatically. If you don’t have intention to use the 2 free night certificates at a Category 7 within the year, you’d effectively need to redeem 300,000 points to save yourself enough points to then stay 2 nights in a Category 7. To sum it up — you’d either have to spend a ton of points on Hyatt hotels in the next 6 months to make it worthwhile, or actually have plans to use the certificates on a valuable property.
The lesson here? Make sure you have a plan to use the free night certificates at a valuable property, such as the Park Hyatt Sydney, Paris, Milan, etc., that way you are getting the best bang for your buck. If you don’t, or aren’t a frequent traveler, you’ll end up getting this card for nothing, to save points you won’t be using, and to waste valuable certificates that are worth much more in value than staying at the Hyatt Dulles Airport. 🙂
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