A 60K Hyatt Visa is now available, and added to the Best Travel Credit Cards page. With this new offer it's possible to earn enough points for 2 complimentary nights at Category 7 Hyatts, such as the Park Hyatt Sydney and Park Hyatt Paris Vendome, which can approach $1000 per night even for standard rooms, depending on the time of year.
That said, you'll need to spend $6000 to earn the 60,000 points, and the card's annual fee has increased to $95, and it's not waived the first year. Here are the full details and my analysis:
- 40,000 Hyatt points after $3000 spend within the first 3 months of account opening; additional 20,000 Hyatt points (total of 60K points) after spending a total of $6000 within the first 6 months of account opening
- 4X per dollar spent at Hyatt hotels, including Hyatt-managed restaurants
- 2X on non-Hyatt restaurants, airline tickets purchased directly with the airline, local transit/commuting, fitness club and gym memberships
- $95 annual fee is NOT waived
- No foreign transaction fees
- Free night certificate for a Category 1-4 Hyatt awarded on your account anniversary
The current offer for the Hyatt Visa is 40,000 points after $2000 spend within the first 3 months, for a $75 fee. That's equivalent to buying points at less than a fifth of a cent per point (0.0019) before taking into account the opportunity cost of the $2000 spend.
With the 60K offer, you're buying points for even less, 0.0016, but there's greater opportunity cost, since you have to spend $6000 within the first 6 months to earn the full 60K bonus.
You do earn 4X per dollar on Hyatt spend with the new Hyatt Visa, vs. 3X on Hyatt spend with the old Hyatt Visa, but the annual night certificate is still only for category 1-4 Hyatt properties, and the annual fee is $95 instead of $75.
Am I Eligible for the New Hyatt Visa if I Have the Old Hyatt Visa?
No; current Hyatt Visa cardmembers are NOT eligible for the new Hyatt Visa, even though it has a different bonus, annual fee and earning structure.
I Recently Closed the Hyatt Visa; How Long Do I Have to Wait to Apply for the New Hyatt Visa?
You should wait at least 30 days after closing the Hyatt Visa to apply for the new card, and don't forget that you'll only be eligible for the signup bonus points if you have *not* received a Hyatt Visa signup bonus within the past 24 months. Note that the clock starts from the time you actually received the bonus, and not from when you last applied for the card.
Is the New Hyatt Visa Subject to Chase 5/24?
No, the current Hyatt Visa and the new Hyatt Visa are not subject to Chase 5/24, but this could and is likely to change in the future.
Is the New Hyatt Visa Worth It?
Because currently the Hyatt Visa isn't subject to Chase 5/24, I think it's worth applying for the new 60K Hyatt Visa if you're eligible for the signup bonus, haven't recently signed up for too many other cards (as that could pose a Chase shutdown risk) and the $6000 spend doesn't pose an opportunity cost relative to other credit card minimum spend.
But with the increased $95 annual fee and the free night still limited to Category 1-4 Hyatts, keeping the card may not be worth it unless you always have a good use for the free night that ensures the card pays for itself. That's because if you have the Chase Sapphire Reserve, you'd earn an additional point per dollar (3X instead of 2X) on all dining and commuter transit, and only on actual Hyatt spend would you earn one point more using the Hyatt Visa. As for the 2X on gym memberships, that's nice, but you could earn 2X in more valuable AMEX Membership Rewards points with the AMEX Blue Business Plus.
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