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Among all my other AFs hitting my Chase Hyatt card is up for renewal. With the card I get a free annual night at a cat 1-4 property. Assuming that I will use the certificate does this free night offset the AF? I'm guessing it does but haven't really looked into what type of cat 1-4 properties I can get. If I cancel the card I would just move my credit line over to my freedom. I'm leaning towards keeping it, but wanted to ask for thoughts on the value of keeping the Hyatt card?
If the value is not being sustained by the number of stays then that's more of a decision of what it's worth to you. There's plenty of value with this card but it really depends how often you stay at their properties. Do you have a lot of points in their loyalty program?
From a pure numbers-perspective, a cat1-4 certificate is worth more than the AF. I would venture to say that there are very few Hyatt properties out there that charge less than $75 per night, even at Cat1-2.
With that in mind, I would consider cancelling if you fall into one of the following categories:
1. If you're not going to be able to use the certificate consistantly on a yearly basis, or if you end up "wasting" the certificate by making a hotel stay you don't need just to use it before the expiry date.
2. If you've hit your internal limit with Chase, and the possession of this card is prohibiting you from obtaining a different card which would be more beneficial to you.
@FinStar wrote:If the value is not being sustained by the number of stays then that's more of a decision of what it's worth to you. There's plenty of value with this card but it really depends how often you stay at their properties. Do you have a lot of points in their loyalty program?
I don't have paid hyatt stays, so that is not why I have the card and why I asked about the value of the annual certificate. However, in terms of points I have a bunch of Chase URs that I transfer to Hyatt for stays on points. This year there was a promo period where I got a rebate on redemptions (which increased the value of the card in the first year) since I have the credit card. I'm hoping they do something like that again this year, but its not guaranteed.
@CreditScholar wrote:From a pure numbers-perspective, a cat1-4 certificate is worth more than the AF. I would venture to say that there are very few Hyatt properties out there that charge less than $75 per night, even at Cat1-2.
With that in mind, I would consider cancelling if you fall into one of the following categories:
1. If you're not going to be able to use the certificate consistantly on a yearly basis, or if you end up "wasting" the certificate by making a hotel stay you don't need just to use it before the expiry date.
2. If you've hit your internal limit with Chase, and the possession of this card is prohibiting you from obtaining a different card which would be more beneficial to you.
Well for number one I don't need to be committed to using certificate consistently on a yearly basis I just need to use it for this year (which I will) and then next year I will reassess whether or not I should keep the card. For number 2 that is a bit tougher for me to measure. I have most the chase cards I want although if a great ritz offer comes around I will likely want to jump on it. Other than that card I'm not likely to app with Chase, unless I could pick up a chase ink plus (even though I have the bold).
@jsucool76 wrote:
I would keep it for the annual free night, but I'm not you. People are different. I'd look at some places you may like to travel this year, search hyatt hotels, see if any are cat 1-4 that you can use your free night at, check the cost of the hotel. Is it worth it to you then?
as far as your internal limit...if you were to close the card and transfer your limit to another chase card (like your freedom) that is no different than keeping the hyatt card open, and pulling some of the limit from it to open a new card. You may not have a super duper limit on it, but you'd still be receiving all the benefits, which in my opinion is the main point of any hotel card.
Actually my Hyatt card is my highest limit for any single card, which is kinda sad since its in the sock drawer. I guess I could move part of the limit over to my freedom even if I keep the card.
@red259 wrote:
@jsucool76 wrote:
I would keep it for the annual free night, but I'm not you. People are different. I'd look at some places you may like to travel this year, search hyatt hotels, see if any are cat 1-4 that you can use your free night at, check the cost of the hotel. Is it worth it to you then?
as far as your internal limit...if you were to close the card and transfer your limit to another chase card (like your freedom) that is no different than keeping the hyatt card open, and pulling some of the limit from it to open a new card. You may not have a super duper limit on it, but you'd still be receiving all the benefits, which in my opinion is the main point of any hotel card.Actually my Hyatt card is my highest limit for any single card, which is kinda sad since its in the sock drawer. I guess I could move part of the limit over to my freedom even if I keep the card.
I've been contemplating moving some of my Ritz limit over to another card, since I'll never use that much on that card specifically.
After the first 10k, there isn't much incentive to put any additional spending on it unless one is pushing for Plat.