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[2019.7 Update] Chase emailed holders of the old Hyatt card saying that upgrading to the new World of Hyatt card can earn you 5,000 Hyatt points. 5,000 points are worth about $80, while the new version has an annual fee that is $20 higher each year, so that alone can cover about 4 years of the difference. Whether you should upgrade depends on the comparison between the old and new versions below. If you did not receive the email, you can try the link below and enter your card information. The earliest upgrade bonus was 0, then later 2000 and 3000 points, and now it has gone up again. Hopefully one day it will become a free night. The offer links are below:

[7/1 Update] At the moment, you can upgrade this old version of the card to the new version by calling 1-800-436-7941. The key question is whether the extra $20 annual fee is worth it. Here is a breakdown:

  • An extra FN: With the new version, if you spend $15,000 in a cardmember year, you get 1 additional FN (average value should be around $150). In other words, your everyday spending effectively earns an extra 1% back. If you generally like Hyatt and your future trips include decent Hyatt cat 1-4 properties, it may be worth putting more spend on the card to earn this extra FN. Combined with the card’s built-in 1FN and the points you earn from spending, it can make for a nice trip. Personally, redeeming an FN feels much better than paying cash.
  • Pursuing elite status: The new card gives 5 elite night credits every year, plus 2 nights for every $5,000 spent, with no limit. If you spend exactly $15,000, that gives you 11 elite nights per year toward higher status like Explorist (which requires 30 nights). If you already stay at Hyatt hotels for work trips or personal travel, those 11 nights can be quite valuable.
  • 4x on Hyatt spending: The new version earns 4x, so if you pay cash or use C+P at Hyatt hotels, it beats the CSR’s 3x by a little. If you stay often, that extra 1x does have some value.
  • 2x at fitness clubs: This depends entirely on your own spending habits...
  • 2,000-point upgrade bonus: This offer is probably only for people who have held the card for more than a year. If 2,000 points are worth about $32, that is close to two years of the extra annual fee.
  • Official comparison of the old and new Hyatt cards, Introduction to the new Chase World of Hyatt

Overall, if you have some preference for Hyatt hotels, then paying an extra $20 for these benefits is probably worth it. If you only keep the card for the annual FN, then you may as well keep the old version.

[6/28 Update] This card has been discontinued, and Hyatt’s co-branded card will be replaced by the Chase World of Hyatt. Rumor has it that upgrading to the new version can earn you a 2000 Hyatt point bonus, and people should start receiving letters gradually. The new version has an annual fee that is $20 higher, earns 1x more on Hyatt spending, and adds fitness clubs as a 2x category. You can decide whether to upgrade based on your own spending patterns. The annual FN should still remain, and the date you receive it likely will not change because of the upgrade.

Chase Hyatt Credit Card Review

Application Links:

Basic Features

  • Welcome bonus: 40,000 Hyatt points (after spending $2,000 in the first 3 months) + 5,000 Hyatt points (for adding an authorized user) + $50 (after one purchase)
  • Earning rates: 3x at Hyatt hotels; 2x on airfare, car rentals, and restaurants; 1x on all other purchases
  • Points redemption: Redeem for Hyatt properties
  • No foreign transaction fee
  • $75 annual fee (not waived the first year)

Highlights

  • Annual free night certificate: Starting in the second year, after paying the annual fee each year, you receive one free night certificate valid at a Hyatt cat 1-4 property (expires in one year). A higher-end cat 4 hotel often costs around $200 per night, so this alone can easily justify the annual fee.
  • Bonus categories: If you stay at Hyatt, this is naturally the card to use for 3x. Airfare, dining, and car rentals also earn 2x points. Since Hyatt points are relatively valuable (1.8c each), this card can also work as a primary travel card if you can use Hyatt points well. If you have the CSP, though, you should still use the CSP, since UR points transfer 1:1 to Hyatt.
  • Hyatt points: Average value 1.8c
    • As low as 5000 points for one night at a cat 1 property, and up to 30,000 points for one night at a cat 7 property (see chart below)
    • There is also a cash+Points redemption option (good if you do not have many points but want to stretch them across more stays)
    • For more information on using points, see: official site
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  • Hyatt elite benefits:
    • Automatic Platinum Membership for cardholders: official site
    • Spend 20,000 on the card and get 2stay5night; spend another 40,000 and get another 3stay5night, which can help toward Diamond status
  • Refer a Friend: This card now participates in the refer-a-friend program. For each successful referral, the referrer can earn 10,000 Hyatt points, while the referred applicant can get the regular 40,000 + 5,000 (for adding an authorized user) bonus. You can use Chase’s general refer link, enter the last four digits of your card and your personal information, and generate a referral link. Chase Refer general link, Introduction to the Refer a Friend program

Drawbacks

  • If you do not need luxury hotel stays, the two free nights from the welcome bonus may be somewhat wasted. In that case, you may be better off with a points-earning card like the Marriott credit card. Also, the two free night certificates expire after one year and cannot be extended the way points can.

My Take

Welcome bonus analysis: The welcome bonus on this card is very unique: it can be redeemed for two nights at any hotel in the program (Free Night = FN). If you redeem two nights at Park Hyatt properties in cities like Tokyo, Paris, or New York—the most luxurious hotels in the Hyatt portfolio—the cash price could be around $800-$1,000. Since the 2FN is valid for one year, if you do not expect to use it right away, you can wait until close to the end of the three-month spending window before completing the required spend, which delays when you receive the bonus. If you truly cannot use the welcome-bonus FN, you may be able to call customer service within one month after expiration and ask to convert the FN into Hyatt points. 1FN = 10,000/20,000 points, depending on your membership status.

Long-term value: Every year after paying the annual fee, you receive a free night certificate valid at a cat 1-4 hotel (worth $200+), which easily makes up for the annual fee. And Hyatt points themselves are quite valuable (about 1.8 cents per point), so using this card for dining, airfare, and car rentals is equivalent to roughly 3.6% back. That makes this a card worth keeping long term—provided that you can make good use of Hyatt hotels.

Stay reviews:

Application

  • Difficulty: It is recommended to apply with at least one year of credit history. Once you are in with Chase, this card is relatively easy to get.
  • Application status: Check online (log in with your Chase account); phone: 888-338-2586
  • Things to note
    • Before applying, please read “Chase bank rules.” This card is temporarily not subject to the Chase 5/24 rule.
    • If you are not approved immediately, you can call 888-245-0625 to expedite reconsideration. For details, see “Reconsideration tips.”
    • Since this is a co-branded credit card with Hyatt, if you already have a Hyatt account number, you can enter it on the application. If not, one will be assigned automatically.

Application Link