Chase World of Hyatt Business Card - Keep or Cancel?

Summary

In this episode of 'Keep or Cancel,' Luke from Luke's Points and Miles reviews the Chase Hyatt credit card, focusing on its features, bonuses, and overall value. He discusses the 75,000 points bonus, the $199 annual fee, and various earning rates, including 4x points at Hyatt properties. Despite the card's high fee and mixed rewards, Luke decides to keep it due to anticipated future benefits, planned stays, and maintaining a strong relationship with Chase. He ultimately encourages viewers to consider their own travel needs before deciding on the card's value.

Takeaways

• 😀 Annual fee credit cards should be evaluated each year to determine if they are worth keeping.
• 💳 The Hyatt credit card offers a 75,000 point bonus for spending $5,000 in the first 90 days.
• 🔍 Additional 15,000 points can be earned by spending $112,000 within six months, but this offer ends on March 6.
• 📈 The card earns 4x points at Hyatt properties and double points on top three spending categories until year-end.
• 💰 The annual fee of $199 can be offset with $100 in automatic statement credits from Hyatt spending.
• 🏨 The card grants Discoverist status, which may offer limited benefits during stays.
• 🚗 Primary rental car insurance is a valuable feature for business travelers using the card.
• 🔄 Luke plans to keep the card due to anticipated Hyatt improvements and his future travel plans.
• 🛡️ Chase offers and spending incentives can help minimize the annual fee impact for cardholders.
• 🤔 While not recommended as a top choice, the card may still provide value if used wisely.

Q & A

What is the main purpose of the 'Keep or Cancel' series?

The series aims to exercise critical thinking regarding whether to keep or cancel credit cards with annual fees, evaluating their value to the user.

Why did the speaker initially apply for the Hyatt card?

The speaker was influenced by other creators who were testing the Chase 524 rule and wanted to keep up with them, coupled with the attractive bonus offer at the time.

What is the current bonus offer for the Hyatt card mentioned in the video?

The Hyatt card currently offers a 75,000 Hyatt points bonus, which includes earning 60,000 points for spending $5,000 in the first 90 days, and an additional 15,000 points for spending a total of $112,000 in the first six months.

What is the annual fee for the Hyatt card?

The Hyatt card has an annual fee of $199.

How does the speaker justify keeping the Hyatt card despite its costs?

The speaker plans to stay at more Hyatt properties in the future, expects to earn enough credits to offset the annual fee, and believes a refresh of the card might occur in 2024, making it worth keeping.

What earning structure does the Hyatt card offer for points?

The card earns four points per dollar spent at Hyatt properties, and cardholders also receive a base rate of five points as a Hyatt member, totaling at least nine points for Hyatt stays.

What are the travel and purchase protections offered by the Hyatt card?

The Hyatt card offers primary rental car insurance for business rentals, which is particularly valuable for frequent business travelers.

What is the speaker's opinion on the benefits of the Hyatt card?

The speaker finds that the benefits of the card are not spectacular but acknowledges the potential for future improvements and the current value through credits and spending incentives.

What is the speaker's recommendation regarding the Hyatt card?

The speaker does not strongly recommend the card but suggests giving it another year to evaluate its value based on potential changes and personal spending habits.

What strategy does the speaker mention for meeting spending requirements on the card?

The speaker mentions funding a business checking account with the Hyatt card as a way to help meet the spending requirement, thus quickly earning the bonus.