Please note this site has financial relationships with American Express and this post may contain affiliate links. Read my Advertiser Disclosure policy here to learn more about my partners.
It’s been about three months since I last added a rewards credit card or two to my arsenal (Alaska and US Airways were the additions via the last go round in December), and while I don’t adhere to any sort of strict schedule about such things, I was starting to think about what card made sense to get next when the obvious answer crash landed on my computer screen.
Back in mid-February Hyatt announced a very unique promotion where Hyatt credit card holders would get 20% of their redeemed Hyatt points back from 2/17/2015 – 7/31/2015. At first it looked like you had to already have the co-branded credit card to qualify for the promotion, but then Hyatt clarified that as long as you had the card and were registered by March 31st, that you could participate in the promo. You can even get retroactive credit dating back to the start date!
I’ve long been tempted by the Hyatt credit card, the two award nights at any Hyatt awarded via the sign-up bonus, the 3x points on Hyatt stays, the annual anniversary night at a Category 1-4 Hyatt, and more, but I hadn’t yet pulled the trigger on the card.
However, knowing I would get 20% back on award stays for over five months was enough of a delicious cherry on top to make me go for it. I already stayed during the promo period for two nights on points at the all-inclusive Hyatt Zilara Rose Hall, so I know that will be 10,000 points coming back for sure, but I have a few other award stays likely during the promotional time period that will add up to make this a very nice bonus on top of a bonus for my family. I even applied for a version of the offer that popped up while making a reservation at Hyatt.com that also awards a $50 statement credit!
I knew that I had probably already maxed out my allotment of Chase personal credit cards and credit limit, but I was ready to trade one of my Chase cards for the Hyatt card if needed as I had another card that wasn’t currently meeting my needs as much as I knew the Hyatt card would.
As it turns out, that is exactly what I needed to do to get approved (more info on that process here), and just a few short days later a box with my brand new Hyatt credit card arrived to its new home. I can’t wait to hit the $1,000 spending requirement to trigger the two nights to use at any Hyatt. I’ll do a separate post on strategies to maximize those two award nights, but in general I will look to the Category 6, 7, and all-inclusive properties to get the max value.
Most likely I’ll spend my sign-up bonus nights either at the Park Hyatt Beaver Creek during next ski season since that property normally goes for 30,000 points per night, or at one of the new all-inclusive Ziva properties with my family. Those all-inclusive properties go for 20,000 – 25,000 per night for double occupancy, but since our 5-year-old would come with us, that would bump the points price as high as 37,500 points per night making it a fantastic use of the free night award.
The free nights are valid for one year, so I will be firming up where we want to use them sooner rather than later to make sure we don’t let the free nights go to waste.
If you have had the Hyatt credit card on your wish list for a while like I have, I think it is absolutely worth strong consideration in the very near future if you have Hyatt award stays booked from 2/17 – 7/31/15. Being able to get 20% of those redeemed points back is pretty spectacular, and was enough to make me go ahead and pull the trigger. Just don’t wait too long as it may take a few days to get approved and have the card update in your Hyatt account, thus allowing you to register for the promo.
I know that everyone values their points and award nights differently, but for this one credit card approval I am getting a $50 statement credit, two award nights to use around the world that I’m sure we will use somewhere that where rates are easily north of $500 a night (the nights I am eying at Beaver Creek are $1,000+ per night), plus I will likely get at least 15,000 Hyatt points back that I value at a minimum of $225.
However you want to add all that up, it comes out to be a tremendous value for my family and certainly over $1,000 in travel if we had booked our nights the traditional way with cash.
For those curious, the best offer for this card with the $50 statement credit is sometimes available via Hyatt.com when you go to make a reservation, so head there if you want the card!
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.