Credit Cards

[FrugalRican]

Looks like the survey was done with and changes are now implemented.

I got an email yesterday:

Earn 2 points for every $1 spent at restaurants, on airline tickets when purchased directly from the airline, and at car rental agencies.

There's more stuff about Diamond status as well.

You might as well just have the CSP. I dig the effort though.

[Cdnewmanpac]

I just want to point out that the new guys in charge of credit card divisions at both Citi and Chase are former Amex VPs. While nobody says it out loud, it is pretty clear who Citi and Chase are gunning for. There are basically two ways left to make money on credit cards: the subprime market (which Cap 1 dominates by a wide margin) and the mass affluent (which has traditionally been Amex's turf). Chase is going after both markets (lowering Freedom criteria, marketing the heck out of CSP, eliminating FTFs on  many cards, lounge access, etc.), while Citi is clearly just going after mass affluent. 

Since the majority of my stays are weekends at nearby ski resorts and Hilton has much better availability, I'll be sticking with Surpass for the forseable future. But I sure wouldn't mind if Amex started responding to some of these broadsides

[CreditScholar]

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FrugalRican wrote:

Looks like the survey was done with and changes are now implemented.

I got an email yesterday:

Earn 2 points for every $1 spent at restaurants, on airline tickets when purchased directly from the airline, and at car rental agencies.

There's more stuff about Diamond status as well.

You might as well just have the CSP. I dig the effort though.

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+1. The changes are quite underwhelming. Having a CSP negates most of the benefits, unless you really need those extra night/stay credits which come at a very high price.

I'm debating whether it's even worth getting this card anymore. It takes up a valuable Chase spot, and with a likely limit of 3-5 personal cards it might simply not be worth it.

[FrugalRican]

I might actually close it.

I thought I could use the Level 1 free night, once a year. Then I looked into it and the nearest hotel is at least 5 hours away. Pretty much useless to me.

I might see if I can roll that credit limit into my Freedom and just close it. I enjoyed the 2 free nights, and the changes aren't enough to entice me.

I can get 2X at restaurants at CSP and use the points much, MUCH sooner than with the Hyatt.

[crunching_numbers]

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FrugalRican wrote:

I might actually close it.

I thought I could use the Level 1 free night, once a year. Then I looked into it and the nearest hotel is at least 5 hours away. Pretty much useless to me.

I might see if I can roll that credit limit into my Freedom and just close it. I enjoyed the 2 free nights, and the changes aren't enough to entice me.

I can get 2X at restaurants at CSP and use the points much, MUCH sooner than with the Hyatt.

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It is for a Category 1 through 4, not just a category 1.  The 2x points on airfare and dining will be helpful to me because I do  not have CSP.  I also have nothing for dining when Freedom or Discover do not have bonus time going on (or when I max it out).

[CreditScholar]

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crunching_numbers wrote:

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FrugalRican wrote:

I might actually close it.

I thought I could use the Level 1 free night, once a year. Then I looked into it and the nearest hotel is at least 5 hours away. Pretty much useless to me.

I might see if I can roll that credit limit into my Freedom and just close it. I enjoyed the 2 free nights, and the changes aren't enough to entice me.

I can get 2X at restaurants at CSP and use the points much, MUCH sooner than with the Hyatt.

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It is for a Category 1 through 4, not just a category 1.  The 2x points on airfare and dining will be helpful to me because I do  not have CSP.  I also have nothing for dining when Freedom or Discover do not have bonus time going on (or when I max it out).

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I think the major disappointment here is that Chase is competing against its own cards instead of offering something new. Most serious travelers who have a Hyatt card will also have a CSP. For example the 2x dining bonus is now overlapping both cards. If they added 2x groceries or gas to the Hyatt card instead, then there would be some incentive to move some spending over. I would value 2 Hyatt points over 1 UR point. However since they didn't do that the card's major weakness remains the same. You hold on to it for the free night, but there's very little incentive to push money through it other than for actual Hyatt stays.

[mirving1957]

I really love this card. My business uses hyatt and instead of them paying for my rooms with the business accounts, I actually pay it on this card and then send in the expense report. The free nights paid for pretty much my entire week roadtrip lodging expenses with my son for his college tours. I really like those additions if they are doing it. The annual fee was reversed my first year due to a problem with the TVs in my hotel rooms which was cool also. Chase is great. Plus the card is probably my best looking one.

[crunching_numbers]

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CreditScholar wrote:

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crunching_numbers wrote:

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FrugalRican wrote:

I might actually close it.

I thought I could use the Level 1 free night, once a year. Then I looked into it and the nearest hotel is at least 5 hours away. Pretty much useless to me.

I might see if I can roll that credit limit into my Freedom and just close it. I enjoyed the 2 free nights, and the changes aren't enough to entice me.

I can get 2X at restaurants at CSP and use the points much, MUCH sooner than with the Hyatt.

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It is for a Category 1 through 4, not just a category 1.  The 2x points on airfare and dining will be helpful to me because I do  not have CSP.  I also have nothing for dining when Freedom or Discover do not have bonus time going on (or when I max it out).

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I think the major disappointment here is that Chase is competing against its own cards instead of offering something new. Most serious travelers who have a Hyatt card will also have a CSP. For example the 2x dining bonus is now overlapping both cards. If they added 2x groceries or gas to the Hyatt card instead, then there would be some incentive to move some spending over. I would value 2 Hyatt points over 1 UR point. However since they didn't do that the card's major weakness remains the same. You hold on to it for the free night, but there's very little incentive to push money through it other than for actual Hyatt stays.

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I get the competing against itself thing, but this was a move to compete against the Hilton cards (both AMEX and Citi) IMHO, as well as to get more people to run stuff through the cards.  

I am not a business traveler but do make leisure and sports travel trips throughout the year. I travel internationally about every other year.  Not having a chip was beginning to be an issue, but I wish they made this chip and pin.  

i do not have a CSP card. I can get better deals NOT running through Chase. 

[CreditScholar]

For a casual traveller who needs a chip, then I think you're right. The Hyatt card is the best option since the annual free night essentially negates the AF. As a backup card it definitely comes in handy when a chip is needed, but would you really use it much after that? For domestic spending, would the added changes cause you to shift other purchases on to the Hyatt card? I would think there are still better options, even after the changes.

[FrugalRican]

As a lower profile spender, it still doesn't appeal to me to spend more on the Hyatt VISA than on my Freedom, much less if I had a CSP.

For a free night at a Level 1 hotel, I'd have to spend 5,000 in a year.

For that same "free" night using UR points with my Freedom, I could spend at least half that, and potentially less.

Maybe someone can double check my math, but let's see that Level 1 Hotel is $200 a night. So I'd spend $5,000 (Or $2,500 in meals), just to get that room.

But with the Freedom, I could spend $2,000 or less and just use the points. It seems like a waste to me... again, to me. But if you're throwing money at the Hyatt VISA like there's no tomorrow, then it's an excellent change, specially for the restaurant part... it makes attaining a free night that much more easier.

I think having the Freedom 10-10 also makes it that much harder for me to want to use the Hyatt VISA more.