topic Re: Goodbye Hyatt, Hello $90K in Credit Cards

Goodbye Hyatt, Hello $90K

Aim_High — Mon, 29 Aug 2022 22:07:07 GMT

The Chase World of Hyatt Visa Signature is a great card for Hyatt loyalists. I opened one three years ago to earn the SUB, test drive the card, and to bulk up my Chase TCL. While I don't stay at Hyatt exclusively, it's been a regular chain for me. Automatic "Discoverist" loyalty status is nice in some ways such as for easy late check-outs. Over time, though, I've decided that I prefer fewer cards. Even though many hotel cards such as the Hyatt card give a "free night" which effectively pays for the AF, I would prefer to concentrate my travel spending on general purpose travel cards, specifically my Chase Sapphire Reserve or Bank of America Premium Rewards. The CSR gives me the option to transfer my URs to Hyatt at a competitive transfer ratio also, which further makes the Hyatt card unnecessary. And the nights I stay at Hyatt are often paid for directly by my employer, not paid for on my card where the stay would earn those higher in-hotel points with the card. Overall, it was an easy card to cut as I realign my wallet.

For data points, Chase offered me a $50 retention offer to keep the card open. I would have been tempted by that if I hadn't thought out the decision so carefully. My free nights have always been worth more than the AF and the $50 would have been all profit. But again, more simplicity is the long-term goal.

For our members who want to add some great hotel cards, the Hyatt card would be among my top picks. Most hotel or airline cards earn well at that cobranded property, but not always outside of that. In-hotel, the World of Hyatt card earns 4 points per dollar spent. Besides the other perks, The World of Hyatt card also earns (2) Bonus Points per $1 spent at restaurants, on airline tickets purchased directly from the airline, local transit and commuting as well as fitness club and gym memberships. And Hyatt points can be worth about 1.7 cpp. But multiple hotel cards isn't my long-term focus. I added the AMEX Marriott Bonvoy Brilliant last year and plan to make it my primary "hotel points" card. While Hyatt is a great chain, the locations are much more limited than the much larger Marriott.

I previously transferred part of the Hyatt card's $30K SL to other Chase cards and had assigned $10K limits to my Hyatt and Marriott cards. The Hyatt AF was coming due in a few days and I had purposefully left it idle for over six months to try to transfer all of that CL. Fortunately, that strategy worked and Chase allowed me to move the entire CL to my Sapphire Reserve, which increased from $80K to $90K. That is now my highest limit card, ahead of my $85K Bank of America Premium Rewards.

Re: Goodbye Hyatt, Hello $90K

RedundantCredit — Mon, 29 Aug 2022 23:47:13 GMT

Congrats on $90K!

@Aim_High wrote:
I had purposefully left it idle for over six months to try to transfer all of that CL.

Did you ask for this specifically or did they offer it because the card was unused for so long? I've seen you mention this method previously but I was wondering if there are any steps beyond leaving it unused and then asking for a CL consolidation.

Re: Goodbye Hyatt, Hello $90K

PullingMeSoftly — Mon, 29 Aug 2022 23:56:30 GMT

Practical move @Aim_High, makes sense to simplify your lineup and consolidate your credit lines where possible. While you've received value from the free night cert in the past, there's no real need to have to manage another account when you are leaning more toward Marriott loyalty anyway. As I've been keeping my new accounts fairly minimal lately with the intent to drop below 5/24, I've had my eye on the Hyatt card. The reality is, however, that I doubt I would be staying at a Hyatt when Hilton has enough of a global footprint and I enjoy the the diamond status and credits from the Aspire. In general, the combo of your CSR and Brilliant card covers the travel bases quite well. Might as well go deeper though, move 10k from your CFU to the CSR, let's see that 100k! Congrats on the 90, that is a huuuge credit line.

Re: Goodbye Hyatt, Hello $90K

NoMoreE46 — Tue, 30 Aug 2022 01:01:41 GMT

Nice and glad it worked out for you @Aim_High .

Re: Goodbye Hyatt, Hello $90K

SouthJamaica — Tue, 30 Aug 2022 04:17:03 GMT

@Aim_High wrote:
The Chase World of Hyatt Visa Signature is a great card for Hyatt loyalists.   I opened one three years ago to earn the SUB, test drive the card, and to bulk up my Chase TCL.   While I don't stay at Hyatt exclusively, it's been a regular chain for me. Automatic "Discoverist" loyalty status is nice in some ways such as for easy late check-outs. Over time, though, I've decided that I prefer fewer cards. Even though many hotel cards such as the Hyatt card give a "free night" which effectively pays for the AF, I would prefer to concentrate my travel spending on general purpose travel cards, specifically my Chase Sapphire Reserve or Bank of America Premium Rewards. The CSR gives me the option to transfer my URs to Hyatt at a competitive transfer ratio also, which further makes the Hyatt card unnecessary. And the nights I stay at Hyatt are often paid for directly by my employer, not paid for on my card where the stay would earn those higher in-hotel points with the card. Overall, it was an easy card to cut as I realign my wallet.

For data points, Chase offered me a $50 retention offer to keep the card open. I would have been tempted by that if I hadn't thought out the decision so carefully. My free nights have always been worth more than the AF and the $50 would have been all profit. But again, more simplicity is the long-term goal.

For our members who want to add some great hotel cards, the Hyatt card would be among my top picks. Most hotel or airline cards earn well at that cobranded property, but not always outside of that.   In-hotel, the World of Hyatt card earns 4 points per dollar spent. Besides the other perks, The World of Hyatt card also earns (2) Bonus Points per $1 spent at restaurants, on airline tickets purchased directly from the airline, local transit and commuting as well as fitness club and gym memberships.   And Hyatt points can be worth about 1.7 cpp. But multiple hotel cards isn't my long-term focus. I added the AMEX Marriott Bonvoy Brilliant last year and plan to make it my primary "hotel points" card.   While Hyatt is a great chain, the locations are much more limited than the much larger Marriott.

I previously transferred part of the Hyatt card's $30K SL to other Chase cards and had assigned $10K limits to my Hyatt and Marriott cards. The Hyatt AF was coming due in a few days and I had purposefully left it idle for over six months to try to transfer all of that CL. Fortunately, that strategy worked and Chase allowed me to move the entire CL to my Sapphire Reserve, which increased from $80K to $90K.   That is now my highest limit card, ahead of my $85K Bank of America Premium Rewards.

Another dazzling display of self-discipline by @Aim_High

Re: Goodbye Hyatt, Hello $90K

bilwilvegas — Tue, 30 Aug 2022 04:31:30 GMT

Well played sir!

Re: Goodbye Hyatt, Hello $90K

NRB525 — Tue, 30 Aug 2022 04:36:59 GMT

Kudos for making your decision to close the Hyatt card.

DW and I have been finding many nice Hyatt-linked properties such as the Destination Resorts. They usually have kitchens, which we preferred even before pandemic travel, and are in activities areas we are Destinationing. Hyatt has been growing their alliance portfolio nicely, so while it is true Hilton and Marriott have more properties, we think the Hyatts are very nice.

Congrats on the $90k limit

Re: Goodbye Hyatt, Hello $90K

Aim_High — Tue, 30 Aug 2022 07:56:10 GMT

@RedundantCredit wrote:
Congrats on $90K!

@Aim_High wrote:
I had purposefully left it idle for over six months to try to transfer all of that CL.
Did you ask for this specifically or did they offer it because the card was unused for so long? I've seen you mention this method previously but I was wondering if there are any steps beyond leaving it unused and then asking for a CL consolidation.

Thanks very much @RedundantCredit!

Funny you ask but I mentioned transferring the entire credit line just as the agent said she was about to offer to move it. There's never any guarantee about how much they will allow to be moved but it has appeared to me that six months of no activity increases the odds of moving it all. I've had Chase require $1,000 be left on a card to be closed. The agent had to check the computer to see what was allowed.

Re: Goodbye Hyatt, Hello $90K

Aim_High — Tue, 30 Aug 2022 08:08:20 GMT

@PullingMeSoftly wrote:
Practical move @Aim_High, makes sense to simplify your lineup and consolidate your credit lines where possible. While you've received value from the free night cert in the past, there's no real need to have to manage another account when you are leaning more toward Marriott loyalty anyway. As I've been keeping my new accounts fairly minimal lately with the intent to drop below 5/24, I've had my eye on the Hyatt card. The reality is, however, that I doubt I would be staying at a Hyatt when Hilton has enough of a global footprint and I enjoy the the diamond status and credits from the Aspire. In general, the combo of your CSR and Brilliant card covers the travel bases quite well. Might as well go deeper though, move 10k from your CFU to the CSR, let's see that 100k! Congrats on the 90, that is a huuuge credit line.

Thanks very much @PullingMeSoftly! Yes, I think most consumers are better to pick just one or no more than two chains to focus hotel spend. Hilton has a great presence and the Aspire card is excellent.

Don't worry as I have the $100K in my sights. Lol 😜 While $90K is huge, there's just something special about reaching that plateau. The CFU is fine as it is though. I had planned to close my Marriott Bonvoy Boundless ($10K) and consolidate it but I made an error. After leaving the card idle, I let the AF post which reset the clock. 😬 So I renewed it and plan to close after it ages a bit. (The agent wanted to let me transfer something horrid like $8,905! Which was the $10K less $1K less the $95 AF balance. Would have driven my OCD wild! Lol 😂)

Re: Goodbye Hyatt, Hello $90K

Aim_High — Tue, 30 Aug 2022 08:13:58 GMT

@NoMoreE46 wrote:
Nice and glad it worked out for you @Aim_High .
@SouthJamaica wrote:
Another dazzling display of self-discipline by @Aim_High
@bilwilvegas wrote:
Well played sir!

Thanks very much @NoMoreE46, @SouthJamaica, @bilwilvegas ! 😁

Re: Goodbye Hyatt, Hello $90K

Aim_High — Tue, 30 Aug 2022 08:21:04 GMT

@NRB525 wrote:
Kudos for making your decision to close the Hyatt card.

DW and I have been finding many nice Hyatt-linked properties such as the Destination Resorts. They usually have kitchens, which we preferred even before pandemic travel, and are in activities areas we are Destinationing. Hyatt has been growing their alliance portfolio nicely, so while it is true Hilton and Marriott have more properties, we think the Hyatts are very nice.

Congrats on the $90k limit

Thanks @NRB525!

I agree Hyatts are often very nice and plan to continue to stay at them when the opportunity arises. If I stayed at them often enough, the World of Hyatt card would be a definite keeper. I just had to consider the rewards cost of putting Hyatt stays on my CSR instead of Hyatt card and I didn't feel the difference justified the added card.

Re: Goodbye Hyatt, Hello $90K

learningcredit54 — Tue, 30 Aug 2022 17:21:48 GMT

Ahhh yes, the master is back at it again. Congrats

Excellent strategies that one must jot down.

Re: Goodbye Hyatt, Hello $90K

Anonymous — Tue, 30 Aug 2022 21:14:24 GMT

I knew you were but not this soon. Congratulations on your new limit.

Re: Goodbye Hyatt, Hello $90K

disdreamin — Tue, 30 Aug 2022 23:35:06 GMT

Well clearly Chase likes you best, I'm complaining to mom.

Congratulations on that limit, and on simplifying your wallet.

Re: Goodbye Hyatt, Hello $90K

cashorcharge — Tue, 30 Aug 2022 23:43:05 GMT

Nicely done @Aim_High

Re: Goodbye Hyatt, Hello $90K

DJRobbieD — Wed, 31 Aug 2022 01:21:52 GMT

@Aim_High I imagine your Chase Marriott card is not long for this world, either

Re: Goodbye Hyatt, Hello $90K

arifjk — Wed, 31 Aug 2022 13:28:16 GMT

Nicely done. Seems a lot of planning and patience into this, but your strategy works well in the end.

Re: Goodbye Hyatt, Hello $90K

Aim_High — Wed, 31 Aug 2022 23:35:03 GMT

@learningcredit54 wrote:
Ahhh yes, the master is back at it again. Congrats
Excellent strategies that one must jot down.
- - - - - - - - - - - - - - -
@Anonymous wrote:
I knew you were but not this soon. Congratulations on your new limit.
- - - - - - - - - - - - - - -
@disdreamin wrote:
Well clearly Chase likes you best, I'm complaining to mom.
Congratulations on that limit, and on simplifying your wallet.

Thanks @learningcredit54, @Anonymous, @disdreamin!

Glad my strategies are worth noting, @learningcredit54. Lenders have different policies and I also like to note data points about our other member's experiences. It's part of how I've been able to more successfully navigate the card world in the past few years.

Yes, I've been plotting this move for a long time, @Anonymous! (*But not promising that I won't also ADD more cards before I downsize again ... lol)

Chase does seem to like me, @disdreamin, so I feel fortunate. My Chase relationship does go back 22 years, though, so it's deep. Maybe that along with profile refinements have helped me along the way. Don't give up on them!

Re: Goodbye Hyatt, Hello $90K

Aim_High — Wed, 31 Aug 2022 17:09:28 GMT

@cashorcharge wrote:
Nicely done @Aim_High
- - - - - - - - - - - - - - -
@DJRobbieD wrote:
@Aim_High I imagine your Chase Marriott card is not long for this world, either
- - - - - - - - - - - - - - -
@arifjk wrote:
Nicely done. Seems a lot of planning and patience into this, but your strategy works well in the end.

Thanks very much @cashorcharge, @DJRobbieD, @arifjk!

You would be correct, @DJRobbieD. While the Chase Marriott Bonvoy Boundless is a good card, I think my AMEX Brilliant is a better option and prefer to streamline.

I've often advocated for more long-range strategic thinking about changes to our card lineups, @arifjk. While it's easy to get caught up in the spur of the moment temptations, having some solid plans for different points into the future works best IMO. I go back to the saying on My Fico that "Credit is a marathon, not a sprint." Patience and timing are important attributes.

Re: Goodbye Hyatt, Hello $90K

Lou-natic — Wed, 31 Aug 2022 23:00:10 GMT

@Aim_High

You really live up to your username that's for sure! Your insights and knowledge (and data points!) are always appreciated as well.

I will never reach your level but your post inspire me to...aim high just the same.