04-19-2012 10:52 PM
04-19-2012 11:47 PM
I am awaiting this card in the mail. Personally, I have BCP, and I am sure Chase will not beat BCP at 6% for groceries, so I would never use it for that. The no FTF means I will use it when abroad, also because of the chip and sig feature. (I wish they made it chip and pin though).
I do not have an everyday (non-floating catagory) reward card with restaurants, so 3-5 points for restaurants would win over alot of that spending.
Bonus extra points are a big draw. They are competing against themselves with CSP, but also all the other higher percentage rewards cards.
I suspect that there are alot of people only using the card for Hyatt purchases. Outside of international purchases, that is what I planned to do.
04-20-2012 12:01 AM - edited 04-20-2012 12:05 AM
That's the major issue for me as well. Unless they make some major changes, it's good to use at Hyatt properties but not for much else. It's annual free night makes the card worth holding on to, however there is no real incentive to push through a lot of money.
Regardless of BCP, I do think they would get some people interested in the bonuses for gas/groceries. Currently Chase has no card that has those as bonus categories. It's sort of a "black hole" in their otherwise impressive lineup. Even if they were able to siphon away 25% of current BCE/BCP holders, it's more than they have now which is 0.
What about the other changes listed? Diamond status for $50,000/year would make me switch. It's only for maintaining status, so you'd still need to earn diamond status first. They won't give you diamond just for spending like Amex does with its Hilton Surpass card. I'd gladly do a status challenge or MR, then maintain 50k spend annually for Hyatt diamond.
Any others of huge interest to people?
04-20-2012 01:32 AM - edited 04-20-2012 01:33 AM
I just can't see running $50K annually through this card. I do not have business expenses in the mix, and only personal/family travel expenses spending just isn't high enough once I eliminate the stuff that goes onto other higher yielding rewards cards. Even with 2 points per purchase levels on some categories, the incentive is not high enough to switch from the other cards where I am getting 5% and 6% cash back. I am sure this is what they are facing with many of their card holders.
Accelerated free nights, 10% points back, $75 on property credit would be nice perks that might lure some of what I would currently put on AMEX Gold.
There is already the issue of luring me from Hilton hotel brands to Hyatt hotel brands involved as well.
04-20-2012 05:17 AM
I'm blocked from that forum from work, so I have no idea what is in that thread. Anyone care to elaborate?
After seeing crunching having applied for the Hyatt Visa, I decided to do so as well.
I was able to get a $75 statement credit (Making the first year free) and 2 free nights just for buying a cup of coffee at Wawa.
The free night alone at a Category 4 washes out the $75 by far.
The way I added it up, for $5000 in charges, you get to rack up a free night at a category 1.
In November, I'll most likely be paying my rent through a credit card, so after 4 months or so of paying rent, I'm racking up a free night at one.
The "No forex" also makes this card a keeper for me.
I could add on more if I knew what it was talking about in the posted thread as well lol
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04-20-2012 01:32 PM
FINALLY got to see the original thread.
Wow, that's a lot of proposed ideas thrown out there for that card. I actually think that card is underestimated, and I'm glad I have it.
That $75 credit for restaurant credit on two night stays would be beastly.
Gas and groceries would be excellent. I'd be earning up free rooms in no time like that... by spending 5K on that card, I get a free room, which easily translates to a room that costs at least 100 bucks, right? If I did just 1% cashback, that'd be 50 bucks, but if the 5000 were gas/groceries, I'd actually be losing free money since on other cards, that's $250. So even with the added "incentive" of gas/groceries, I don't know that I would switch to using the Hyatt.
If they did the lounge access, that'd be a nice bonus, but not necessary, the MileagePlus does that.
I like the system for the Hyatt, but it needs... more. Essentially it's a card for a "free" room.
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04-20-2012 05:45 PM
Im sure Chase knows this and that's why they're keeping it the way it is. If they start to have too much overlap on their card benefits, then they're just shooting themselves in the foot. Speaking of the MP club card... For anyone who has swapped from the old PP, does your new MP card still have silver mastercard logo on the back? I know Arisgreek posted a picture of her PP replacement card, but it is still then old version.
That's good to see Chase doing, I wish they would adjust the MP Club card to offer 2 miles for dining. I would probably close CSP and go with that card.
04-22-2012 05:36 PM
Good point but I don't like having so many cards. I wish the Club card offered the 60k miles too. If you have PP, it is now Chase PP World Elite MasterCard. If you convert to new MPC it is Visa Signature with silver logo on back. There is no World Elite MasterCard version of MileagePlus Club card. I think Chase/Visa/United have an exclusive agreement like Chase/Visa/Disney does but they are honoring the WE MC of the old CO PP card if you retain that product.
04-22-2012 10:38 PM
The Hyatt's "two" free nights sign up bonus anywhere in the world is a pretty nice deal. Book a couple nights at the Grand Hyatt in Paris makes this sign up bonus an incredible deal.
Aside from that, the CSP does seem to be a better Hyatt card. Initially, I was pretty amazed at the CSP transferring to Hyatt hotels at a 1:1 ratio, which I found to be a very good value. I suspect given the CSP's value, there's bound to be some cannibalization from their Hyatt cards.
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