08-28-2012 03:13 PM
I'm looking to get away from the city over this holiday weekend and was curious if anyone else was in the same boat. It seems like the general rule is to use Hyatt Gold Passport points to maximize the value of UR points. Thoughts?
08-28-2012 05:39 PM
I wish I could tell you. I just used some points, but won't see what the conversion is until the next statement.
Was a great experience though, was treated like a rock star.
Follow my financial journey: http://www.frugalrican.com
08-28-2012 09:26 PM
Well, it isn't a holiday weekend here so I can't really tell you much about location options.
As for Hyatt GP points, the best redemption rates seem to be at the top and bottom ends. There's value to be had in almost all Cat6 and Cat1 hotels, and somtimes in Cat2s and Cat5s. Cat 3-4s generally have horrible redemption values, in which case it might be better to pay cash.
For example later this year my financee and I are going to Disneyland in Anaheim. We haven't been there for 5 years and she wanted to go back. A room is running about $135 per night at the Hyatt Regency, while a suite is about $180. As a Cat3 hotel, it'd cost 12,000 points for $135 for a value of 1.125 cpp. A suite is no better at 18,000 points, or 1 cpp. If there was something like the Waldorf in Orlando, I'd be all over it. However for Anaheim there doesn't seem to be any real luxury hotel options.
I personally wouldn't even consider using points unless I was getting an absolute of minimum of 1.5 cpp, although 1.7-1.8 cpp is a better target. Do you have any Cat6 hotels within a reasonable distance that you were interested in? If you're serious about using your points and getting good value out of them, I'd start there first.
08-28-2012 10:37 PM
After doing some fairly extensive comparison shopping I've come to the conclusion that Hyatt GP >>> Marriott and Priority Club value wise when transferring CSP points. I ended up booking a decent Cat 5 hotel for 36,000 points that would cost almost $700 in cash, so pretty close to 2 cpp. I'll take it.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.