According to DOC, the legacy Hyatt card with the old $75 annual fee may be automatically converted in November to the new World of Hyatt credit card with a $95 annual fee.

Will this actually happen?

Chase’s usual practice after launching an upgraded product is to keep the old card around. For example, IHG and IHG Premier coexist; Marriott and Marriott Premier coexist; United Club and United Infinite coexist; and there are even older legacy United cards still out there. So when I saw this report saying there could be an automatic conversion, I was skeptical, since Chase has not forced this kind of change before. Of course, during the pandemic, it is also possible that Chase may want to lower account-management costs and customer-service training costs this way.

Upgrade offer

Previously, Chase kept emailing holders of the legacy Hyatt card saying that if they upgraded to the new World of Hyatt card, they could receive 5000 Hyatt points. Those 5000 points are worth about $80. Since the new version costs $20 more per year in annual fee, that upgrade offer would more or less offset 4 years of the higher fee. The earliest upgrade offer was 0, then later 2000 and 3000 points, and now it has gone up again. Hopefully one day it increases to a free night.

Should you upgrade?

The key question is whether the extra $20 annual fee is worth it. Here’s a breakdown:

  • An extra FN: With the new version, if you spend $15,000 in a cardmember year, you get 1 additional FN (with an average value of around $150). In other words, your everyday spending is effectively getting an extra 1% back. If you generally prefer Hyatt and expect to travel to places with good Hyatt cat 1-4 properties, it may make sense to put more spend on the card to earn this extra FN. Combined with the card’s existing 1FN plus the points you earn from spending, that can make for a pretty nice trip. Personally, using FN feels a lot better than paying cash.
  • Pursuing elite status: The new card gives you 5 elite night credits every year, plus 2 night credits for every $5,000 spent, with no cap. If you spend exactly $15,000, that gives you 11 elite nights per year to help you work toward higher status like Explorist (which requires 30 nights). If you already stay at Hyatt hotels for business travel or personal trips, those 11 nights can be quite valuable.
  • 4x on Hyatt purchases: The new version earns 4x, so paying cash/C+P at Hyatt hotels now gives you slightly better return than CSR’s 3x. If you stay with Hyatt often, that extra 1x does have some value.
  • 2x at gyms/fitness clubs: This depends entirely on your own spending patterns...
  • Upgrade offer 2,000: I’d guess this offer is only available to people who have held the card for more than a year. If 2,000 points are worth about $32, that almost covers two years of the higher annual fee.
  • Official comparison of the old and new Hyatt cards, New Chase World of Hyatt overview

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