Chase Hyatt Visa - Changes

[FrugalRican]

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@Open123 wrote:

  I'm not making judgements here, but there are those who will find the card less prestigious when they realize their waiter (not to diminish the service professions here, but for a lack of a better example) has a Platinum too with a $2,000 hard limit.  Once this veil of exclusivity is pierced, those Platinum holders who don't utilize the benefits (which is the overwhelming majority) will refuse to pay the $450 seeking a card with a higher prestige.  

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And this is HUGE.

And I don't see it as a judgment but as a reality.

I can't get a Centurion right now, but if I really wanted to boot the annual fee, I could get the Platinum.

Just like that. But I would pay the annual fee knowing full well that I'd use the benefits, but as you said, there are many that have it for status, but what happens when anyone, including myself, can get it?

What's prestige to us is actually losing its prestige to others.

The lines are blurring right now and Chase is catching up dangerously quick. Whereas five years ago I might have been a lot more attracted to AMEX products, right now I am hard pressed to find AMEX products that compete with Chase. And yes, I worded it like that on purpose.

I think the Hyatt Visa has the potential to be the best hotel card out there. I can see it being right up there with SPG.

Same as I could see Palladium taking the Centurion/Platinum head on. Chase is getting there and that's why I think they started out with such a hefty requirement for it... to establish a sense of prestige for it, but in my opinion, they shot a little too high at first.

I'm sure anyone carrying a Palladium or a Platinum have the annual fee as the least of their worries when it comes to credit cards, so these two cards need to compete on a perks to perks basis. I think the fee is actually way of marketing the card to those with Platinum that see its prestige factor slowly fading into the sweet good night and it just might work.

[crunching_numbers]

Comparing Chase with the Hyatt Visa to Amex with the HHonors cards (either version), Amex just comes up short again. The sign up bonus for HHonors does not even come close to the Hyatt card. Since there is an AF, you really need to compare Surpass to Hyatt, but the presence of an ongoing free night on the Hyatt leaves Hilton HHonors in the dust, because it becomes the equivalent of a no AF card with 1 point per dollar on everything. Although to be fair, Hilton HHonors gets 6 pts per purchase on groceries, drugstores, gas, utilities etc.   Unfortunately, most of us have other better cards for most of those catagories, and the spend would be on travel.

One of these guys would fly above the others by adding restaurants at a high premium since the best card good all the time is CSP at 2%.

[Open123]

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@crunching_numbers wrote:

Comparing Chase with the Hyatt Visa to Amex with the HHonors cards (either version), Amex just comes up short again. The sign up bonus for HHonors does not even come close to the Hyatt card. Since there is an AF, you really need to compare Surpass to Hyatt, but the presence of an ongoing free night on the Hyatt leaves Hilton HHonors in the dust, because it becomes the equivalent of a no AF card with 1 point per dollar on everything. 

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Couldn't agree with you more on the Hyatt being a much better card than HHonors, unless I'm missing something.

In my view, the Hyatt cards main competition ultimately with be Amex's SPG.  The reason I prefer SPG is the price found on their site is the lowest possible price anywhere. They offer a guarantee that if a lower price is ever found on any other site, they refund the difference + 10%, offer 5k spg points, and an instant upgrade to a suite.  In this information age of price discrimination, I have more confidence in the value integrity of SPG points.

Unlike, say, the Hilton hotels where it seems like a "great" deal popping up everywhere such as groupon, bloomspot, hotwire, or any of these assorted sites.  This erodes and dimishes not only the points but the experience.

I'm not sure how the Hyatt hotels handle their price integrity, but I think other hotel chains should follow in the steps of SPG and control their pricing ensuring their direct pricing is the best for the end user.

[FrugalRican]

I believe most of Chase's cards are one step behind AMEX's, but Chase is just breathing right down AMEX's neck.

I definitely would see the comparison between SPG and Hyatt, specially even more so if Hyatt throws in a little something extra (God, I hope they do).

SPG is a GREAT card, but more so for people that constantly travel and stay at hotels.

I'll stay at a hotel MAYBE 5 times a year (And that's pushing it, to be honest). So there is a distinction between the type of user that would benefit from the Hyatt and the person who would benefit from the SPG.

I'm not the type of person who would overlook a free night to go with the benefits of an SPG. I wish I could... but for now, the Hyatt will be more than golden for me.

I guess crunching and I will soon be relaying our experiences with our cards and the Hyatts.

I have to be honest, the CS has been amazing. I've had the card for barely two weeks and already have the statement credit (to nix the annual fee) and the two free nights in my balance, simply from purchasing a coffee.

[Open123]

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@FrugalRican wrote:

I believe most of Chase's cards are one step behind AMEX's, but Chase is just breathing right down AMEX's neck.

I definitely would see the comparison between SPG and Hyatt, specially even more so if Hyatt throws in a little something extra (God, I hope they do).

SPG is a GREAT card, but more so for people that constantly travel and stay at hotels.

I'll stay at a hotel MAYBE 5 times a year (And that's pushing it, to be honest). So there is a distinction between the type of user that would benefit from the Hyatt and the person who would benefit from the SPG.

I'm not the type of person who would overlook a free night to go with the benefits of an SPG. I wish I could... but for now, the Hyatt will be more than golden for me.

I guess crunching and I will soon be relaying our experiences with our cards and the Hyatts.

I have to be honest, the CS has been amazing. I've had the card for barely two weeks and already have the statement credit (to nix the annual fee) and the two free nights in my balance, simply from purchasing a coffee.

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Good points all around, and I'd have to agree with you.

Nothing matches the Hyatt's incredibly generous anywhere in the world 2 night stay, which is easily a $1,000 - $1,500 value in of itself.  Also, I agree that my interaction with Chase thus far has been exemplary.  I decided to open a checking to work towards the combo, and was offered the $200 cash bonus with no initial direct deposit. Chase seems be working very hard to earn and compete for business, which I appreciate.  Unlike my current banking relationships, they don't seem to take their customers for granted--at least, this has been my experience.

[crunching_numbers]

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@Open123 wrote:

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@crunching_numbers wrote:

Comparing Chase with the Hyatt Visa to Amex with the HHonors cards (either version), Amex just comes up short again. The sign up bonus for HHonors does not even come close to the Hyatt card. Since there is an AF, you really need to compare Surpass to Hyatt, but the presence of an ongoing free night on the Hyatt leaves Hilton HHonors in the dust, because it becomes the equivalent of a no AF card with 1 point per dollar on everything. 

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Couldn't agree with you more on the Hyatt being a much better card than HHonors, unless I'm missing something.

In my view, the Hyatt cards main competition ultimately with be Amex's SPG.  The reason I prefer SPG is the price found on their site is the lowest possible price anywhere. They offer a guarantee that if a lower price is ever found on any other site, they refund the difference + 10%, offer 5k spg points, and an instant upgrade to a suite.  In this information age of price discrimination, I have more confidence in the value integrity of SPG points.

Unlike, say, the Hilton hotels where it seems like a "great" deal popping up everywhere such as groupon, bloomspot, hotwire, or any of these assorted sites.  This erodes and dimishes not only the points but the experience.

I'm not sure how the Hyatt hotels handle their price integrity, but I think other hotel chains should follow in the steps of SPG and control their pricing ensuring their direct pricing is the best for the end user.

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I have to tell you that some of the best blind Hotwire deals I have taken (and I do my homework before I press the button, and are usually 99% sure of which hotel I am getting in advance) are Westins. They use that channel frequently. I have a 4 night stay coming up outside of DC for $144/nt. (Lowest standard rate is $279/nt.) The catch there is that it is advertised price, or other cleverly worded guarantee where Hotwire is excluded from the mix.

[crunching_numbers]

My Hyatt card arrived today. This is a really nice classy looking card. The nicest looking of the hotel cards, IMHO.

[FrugalRican]

I LOVE the look of this card. Too bad I've used it only once and will use it only once every 3 months.

[crunching_numbers]

Just used the new Hyatt card for an advance purchase at a Hilton. Hope that is not bad Karma.

[FrugalRican]

It took me a second, but I got it LOL
That's hilarious.