topic Re: Chase Hyatt on chopping block in Credit Cards

Chase Hyatt on chopping block

red259 — Mon, 05 Feb 2024 08:53:32 GMT

What would you do? I have a Chase Hyatt card. I have had it for a few years. I am under 5/24. The AF is due in a few days and I am about to go on an international trip.

AF is $95. I can pay the AF and get a cat 1-4 certificate although I'm skeptical if it will post in time for me to use it this trip. In the alternative I can close the card and reapply for a new hyatt card with a SUB of 35k points after $3k spend and then double points on the first $15k. AF not waived. I have explorist status with Hyatt through 2025 so if I don't get the new card right away that won't impact anything. I don't see any other chase cards that I am interested in and it will be awhile still before I can get a new sapphire card.

Re: Chase Hyatt on chopping block

SouthJamaica — Mon, 05 Feb 2024 15:50:14 GMT

@red259 wrote:
What would you do? I have a Chase Hyatt card. I have had it for a few years. I am under 5/24. The AF is due in a few days and I am about to go on an international trip.

AF is $95. I can pay the AF and get a cat 1-4 certificate although I'm skeptical if it will post in time for me to use it this trip. In the alternative I can close the card and reapply for a new hyatt card with a SUB of 35k points after $3k spend and then double points on the first $15k. AF not waived. I have explorist status with Hyatt through 2025 so if I don't get the new card right away that won't impact anything. I don't see any other chase cards that I am interested in and it will be awhile still before I can get a new sapphire card.

You will not get it in time for your trip. If I'm not mistaken it takes around 8 weeks to arrive.

I do not think you should close the account and apply for a new one, for a number of reasons: (1) new inquiry (2) new account (3) you're almost undoubtedly not going to get a second SUB and (4) it's a great card, why close it? Just use the card for your trip and enjoy earning new points and using whatever points you've accumulated.

Re: Chase Hyatt on chopping block

Anonymous — Mon, 05 Feb 2024 16:08:53 GMT

@SouthJamaica wrote:
t (3) you're almost undoubtedly not going to get a second SUB

I thought you could usually rely on Chase wording, which talks about being eligible if no SUB in the last 24 months. (That might be eligible for the card, but I am reading it as the offer.)

Re: Chase Hyatt on chopping block

Aim_High — Mon, 05 Feb 2024 18:10:18 GMT

@Anonymous wrote:
@SouthJamaica wrote:
t (3) you're almost undoubtedly not going to get a second SUB
I thought you could usually rely on Chase wording, which talks about being eligible if no SUB in the last 24 months. (That might be eligible for the card, but I am reading it as the offer.)

@Anonymous wrote:
@SouthJamaica wrote:
t (3) you're almost undoubtedly not going to get a second SUB
I thought you could usually rely on Chase wording, which talks about being eligible if no SUB in the last 24 months. (That might be eligible for the card, but I am reading it as the offer.)

SUB restrictions are so variable, but in this case, it appears OP would indeed be eligible. I had WoH card previously and had considered doing the same thing. As long as the current card is closed and no SUB within 24 months, you are eligible. Your scores are not updated, but assuming you're still 800+ with less than 5/24, I would think your approval chances are excellent.

35,000 Bonus Points After You Spend $3,000 On Purchases In The First 3 Months From Account Opening: The credit card is not available to either (i) current Cardmembers of this credit card, or (ii) previous Cardmembers of this credit card who received a new Cardmember bonus for this credit card within the last 24 months ...

As for the timing, I do agree that the free night might not post before the international trip, so if you planned to use the Hyatt card on the trip, just wait until you return.

I agree that WoH is a great card! I just decided that I didn't stay often enough at Hyatt versus Marriott or Hilton, and even though the free night reimburses the AF, I thought simplifying and consolidating my limits with Chase was a better overall strategy. I did lose the automatic Discoverist status, but as for points it is easy to move Sapphire points over at a good return for redemptions.

Re: Chase Hyatt on chopping block

red259 — Wed, 07 Feb 2024 06:31:03 GMT

"but in this case, it appears OP would indeed be eligible. " agreed. There is really no doubt in my mind I am elgible. I have done the same thing in the past, although I have had this card for a few years now. In the end I didn't bother pulling the trigger. I'll wait for the cert and see if a better SUB comes along down the line. My calculation would probably be different if I thought I would get the card in time to take with me. Then I might want to bring it along to get the spend requirement while I travel. Another nice feature about the card is there are special offers throughout the year that can be quite lucrative. Heck on my last trip it was getting silly. On award bookings they were giving me back points on each stay and this was at the same time I was doing a status challenge with Hyatt. Like 90% of my hyatt stays are award bookings but I still manage to derive benefit via the hyatt card.

Re: Chase Hyatt on chopping block

ptatohed — Wed, 07 Feb 2024 07:16:20 GMT

Per myFICO's own acronyms, a SUB (sign up bonus) is not the same as an intro offer. A SUB is something you get when opening a new card regardless of anything needed on your part. e.g. a 0% intro rate on purchases for X months. An intro offer like 'Spend $Xk for XXk points is not a SUB.

Re: Chase Hyatt on chopping block

Aim_High — Sat, 10 Feb 2024 21:17:38 GMT

@ptatohed wrote:
Per myFICO's own acronyms, a SUB (sign up bonus) is not the same as an intro offer. A SUB is something you get when opening a new card regardless of anything needed on your part. e.g. a 0% intro rate on purchases for X months. An intro offer like 'Spend $Xk for XXk points is not a SUB.

Ummm ... I told you I was watching you, @ptatohed.

Are you referring to the My FICO Abbreviations message from 2007? For one that is a little dated (so terminology could have evolved in 17 years) but for the main point, I think you are misreading the definition.

A SUB is an incentive for SOLELY GETTING A (NEW) CREDIT CARD. Period. And OP would qualify in this situation, as he would be closing his existing card and applying as a new cardholder. The second sentence referencing a "spend requirement" that differentiates a SUB is referring primarily to cards with an AF such as AMEX charge cards that might offer a points bonus to existing cardholders for spending a certain amount as a way to soften the impact of an AF. (A type of RETENTION bonus.) But I know you dislike AF cards so you may be unfamiliar with that reference.

So a SUB could be a cash/points bonus for opening a new card, often with a spend requirement to qualify (or) it could be another type of incentive (such as 0% or low-rate financing offers.) My FICO abbreviations do not specify exactly what the incentive could be; it just has to be an incentive for new cardholders as an enticement to apply.

Re: Chase Hyatt on chopping block

ptatohed — Sun, 11 Feb 2024 05:39:14 GMT

@Aim_High wrote:
@ptatohed wrote:
Per myFICO's own acronyms, a SUB (sign up bonus) is not the same as an intro offer. A SUB is something you get when opening a new card regardless of anything needed on your part. e.g. a 0% intro rate on purchases for X months. An intro offer like 'Spend Xkk forXXkk points is not a SUB.

Ummmm ... I told you I was watching you, @ptatohed.

Are you referring to the My FICO Abbreviations message from 2007?   For one that is a little dated (so terminology could have evolved in 17 years) but for the main point, I think you are misreading the definition.

A SUB is an incentive for SOLELY GETTING A (NEW) CREDIT CARD. Period. And OP would qualify in this situation, as he would be closing his existing card and applying as a new cardholder. The second sentence referencing a "spend requirement" that differentiates a SUB is referring primarily to cards with an AF such asAMEXX charge cards that might offer a points bonus to existing cardholders for spending a certain amount as a way to soften the impact of an AF. (A type of RETENTION bonus.) But I know you dislike AF cards so you may be unfamiliar with that reference.

So a SUB could be a cash/points bonus for opening a new card, often with a spend requirement to qualify (or) it could be another type of incentive (such as 0% or low-rate financing offers.) My FICO abbreviations do not specify exactly what the incentive could be; it just has to be an incentive for new cardholders as an enticement to apply.

LOLL, thanks for that @Aim_High .

I do respectfully disagree with you. I think through both myFICO's definition that you showed, and through nearly all credit card issuer's terminology, 'Sign Up Bonus' is misused around here. To me 'Different than a spend requirement' couldn't be clearer. IMHO, 'Spend $XXX, receive $XX (orXXpts)' is an Offer. Offer as in you don't get it automatically (after getting your new card), and you don't need to even choose to accept it or participate, but it's there for you as a new member. A bonus is something you get no matter what, just for acquiring the new card. I've never see a CC issuer use the term Sign Up Bonus, have you? I think common terms used by CC issuers are "Welcome Offer" or "Rewards Bonus Offer", etc.

Re: Chase Hyatt on chopping block

SouthJamaica — Sun, 11 Feb 2024 17:10:47 GMT

Nevertheless, though you may not like the term because it does not literally give you a bonus for merely signing up, it is the term that is commonly in use for the rewards bonus attached to opening new cards conditioned on meeting a spend requirement, and also for the rewards bonus attached to opening new deposit accounts conditioned on meeting certain activity requirements. So I will continue to use the term signup bonus since everyone including you knows exactly what we mean by it.

Re: Chase Hyatt on chopping block

cws-21 — Sun, 11 Feb 2024 19:14:32 GMT

"A credit card sign-up offer (also known as a sign-up bonus) is an incentive or bonus for you to sign-up for a credit card and make purchases with the card. Many credit cards offer you a bonus for spending money over a certain period, where rewards points, cash back or airline miles may be offered to get you to apply" (Chase).

Re: Chase Hyatt on chopping block

Aim_High — Sun, 11 Feb 2024 21:09:35 GMT

@ptatohed wrote:

I think through both myFICO's definition that you showed, and through nearly all credit card issuer's terminology, 'Sign Up Bonus' is misused around here.

If Signup Bonus is misused around here, it's also "misused" almost everywhere that discusses special banking industry incentive for acquiring a new account. A quick web search for "Sign Up Bonus" finds most websites and message boards that discuss these types of cash or points spending rewards incentives use the term SUB or Sign-up Bonus to reference them as a group. And that has likewise been the accepted standard on My FICO. Here's just a few examples that came up in my web search.

Experian:   A credit card intro bonus, also called a credit card sign-up bonus, is an incentive for signing up for a credit card and spending a certain amount on it. A ...
Forbes
CNBC
TIME Magazine
US News and World Report
Kiplinger Personal Finance
Wall Street Journal
Chase Bank
Doctor of Credit
The Motley Fool
The Points Guy
Credit Karma
Wallet Hub
Reddit
Award Wallet
Southwest Airlines Community Board

A bonus is something you get no matter what, just for acquiring the new card.

Well, I don't know of any credit card that gives you something - without any action or qualifications on your part - just for signing up for a new card. You always have some response. With a spending type bonus, you must spend x amount within x timeframe. For some minimum usage bonus (like I got with my Barclay's Aviator Red), I had to swipe the card once and make a payment to get the AA miles. For spend rebates (like I got with my Synchrony Verizon Visa), I had to spend $100 to get a $100 credit. With intro financing offers, you must transfer a balance amount no higher than your approved credit limit, maintain payment status in good standing, and either pay off the balance within the intro period or transfer it elsewhere to avoid paying a higher APR that would negate benefit. And sometimes, you must also pay a balance transfer fee.   Same for banking deposit SUBs, where you must meet restrictions on deposit, maintaining a balance, making direct deposits (sometimes in a minimum amount), etc. Nobody just hands you money or points or miles after the application is approved.

I've never see a CC issuer use the term Sign Up Bonus, have you? I think common terms used by CC issuers are "Welcome Offer" or "Rewards Bonus Offer", etc.

I believe the "SUB" term referenced above is just a way of standardizing the lingo, and that's why you see it everywhere, including My FICO. You are the first person I've ever heard to question it or apply a different definition. Sure, lenders may use different terms for their new cardmember promotions. That doesn't make lumping them all together under the "SUB" label incorrect. As a matter of fact, you say that a spending bonus for a new card is an 'intro OFFER." However, if you note the websites for many major lenders, they call a cash or points reward a cash BONUS or a cash rewards BONUS, not an OFFER. On the other hand, a special financing promotion is often called an "introductory offer." Check the websites (including the fine print of offer terms) for Chase, CITI, US Bank, Capital One, and Wells Fargo for a few examples. I won't bother to screen shot them all.

Re: Chase Hyatt on chopping block

Aim_High — Sun, 11 Feb 2024 21:22:01 GMT

@SouthJamaica wrote:
Nevertheless, though you may not like the term because it does not literally give you a bonus for merely signing up, it is the term that is commonly in use for the rewards bonus attached to opening new cards conditioned on meeting a spend requirement, and also for the rewards bonus attached to opening new deposit accounts conditioned on meeting certain activity requirements. So I will continue to use the term signup bonus since everyone including you knows exactly what we mean by it.

Totally agree @SouthJamaica. There's nothing wrong with using the SUB terminology for any new card promotions, as it is a well-accepted phrase. And I, too, will continue to use it.

On message boards like My FICO, we can split hairs with each other over many things without accomplishing anything but creating division. And we all make mistakes sometimes: grammatical mistakes, typos, spelling, punctuation, or even word or phrase usage. When the definitions of those words or phrases deviate substantially from the mainstream audience understanding and cause confusion, it's worthy of pointing out or discussing for clarity. When it's merely a choice of semantics and the meaning is understood, it's nitpicking and contrary to good community support. There's another definition on that Abbreviations List - FSR (Friendly, Supportive, Respectful.)

Re: Chase Hyatt on chopping block

ChargedUp — Sun, 11 Feb 2024 21:44:36 GMT

@Aim_High wrote:

I've never see a CC issuer use the term Sign Up Bonus, have you? I think common terms used by CC issuers are "Welcome Offer" or "Rewards Bonus Offer", etc.

I believe the "SUB" term referenced above is just a way of standardizing the lingo, and that's why you see it everywhere, including My FICO. You are the first person I've ever heard to question it or apply a different definition. Sure, lenders may use different terms for their new cardmember promotions. That doesn't make lumping them all together under the "SUB" label incorrect. As a matter of fact, you say that a spending bonus for a new card is an 'intro OFFER." However, if you note the websites for many major lenders, they call a cash or points reward a cash BONUS or a cash rewards BONUS, not an OFFER. On the other hand, a special financing promotion is often called an "introductory offer." Check the websites (including the fine print of offer terms) for Chase, CITI, US Bank, Capital One, and Wells Fargo for a few examples. I won't bother to screen shot them all.

Well... I did get this yesterday.

But I agree @Aim_High . Lenders have the same intentions with SUB, bonus, etc. Getting into semantics doesn't change this.

Re: Chase Hyatt on chopping block

SouthJamaica — Sun, 11 Feb 2024 22:00:42 GMT

@Aim_High wrote:
@SouthJamaica wrote:
Nevertheless, though you may not like the term because it does not literally give you a bonus for merely signing up, it is the term that is commonly in use for the rewards bonus attached to opening new cards conditioned on meeting a spend requirement, and also for the rewards bonus attached to opening new deposit accounts conditioned on meeting certain activity requirements. So I will continue to use the term signup bonus since everyone including you knows exactly what we mean by it.
Totally agree @SouthJamaica. There's nothing wrong with using the SUB terminology for any new card promotions, as it is a well-accepted phrase. And I, too, will continue to use it.

On message boards like My FICO, we can split hairs with each other over many things without accomplishing anything but creating division. And we all make mistakes sometimes: grammatical mistakes, typos, spelling, punctuation, or even word or phrase usage. When the definitions of those words or phrases deviate substantially from the mainstream audience understanding and cause confusion, it's worthy of pointing out or discussing for clarity. When it's merely a choice of semantics and the meaning is understood, it's nitpicking and contrary to good community support. There's another definition on that Abbreviations List - FSR (Friendly, Supportive, Respectful.)

Well @ptatohed is a great citizen of this forum; he's just a stickler for grammar, usage, punctuation, and spelling

Re: Chase Hyatt on chopping block

Aim_High — Sun, 11 Feb 2024 22:12:36 GMT

@SouthJamaica wrote:
@Aim_High wrote:
@SouthJamaica wrote:
Nevertheless, though you may not like the term because it does not literally give you a bonus for merely signing up, it is the term that is commonly in use for the rewards bonus attached to opening new cards conditioned on meeting a spend requirement, and also for the rewards bonus attached to opening new deposit accounts conditioned on meeting certain activity requirements. So I will continue to use the term signup bonus since everyone including you knows exactly what we mean by it.
Totally agree @SouthJamaica. There's nothing wrong with using the SUB terminology for any new card promotions, as it is a well-accepted phrase. And I, too, will continue to use it.

On message boards like My FICO, we can split hairs with each other over many things without accomplishing anything but creating division. And we all make mistakes sometimes: grammatical mistakes, typos, spelling, punctuation, or even word or phrase usage. When the definitions of those words or phrases deviate substantially from the mainstream audience understanding and cause confusion, it's worthy of pointing out or discussing for clarity. When it's merely a choice of semantics and the meaning is understood, it's nitpicking and contrary to good community support. There's another definition on that Abbreviations List - FSR (Friendly, Supportive, Respectful.)
Well @ptatohed is a great citizen of this forum; he's just a stickler for grammar, usage, punctuation, and spelling

I couldn't agree more, @SouthJamaica. I think a little friendly nudging is sometimes needed, though, to see how others may perceive such comments. Especially in the format of message board (without the benefit of knowing our real-life personalities or getting to know one another), it can come across as unfriendly or argumentative, and I know that isn't his intention. @ptatohed is a good spud. Lol I realize I may have been guilty of coming across the wrong way at times myself, different from my intentions, and I appreciated how the feedback from the community has helped me to refine my postings.

Re: Chase Hyatt on chopping block

ptatohed — Sun, 11 Feb 2024 22:40:29 GMT

@SouthJamaica wrote:
@Aim_High wrote:
@SouthJamaica wrote:
Nevertheless, though you may not like the term because it does not literally give you a bonus for merely signing up, it is the term that is commonly in use for the rewards bonus attached to opening new cards conditioned on meeting a spend requirement, and also for the rewards bonus attached to opening new deposit accounts conditioned on meeting certain activity requirements. So I will continue to use the term signup bonus since everyone including you knows exactly what we mean by it.
Totally agree @SouthJamaica. There's nothing wrong with using the SUB terminology for any new card promotions, as it is a well-accepted phrase. And I, too, will continue to use it.

On message boards like My FICO, we can split hairs with each other over many things without accomplishing anything but creating division. And we all make mistakes sometimes: grammatical mistakes, typos, spelling, punctuation, or even word or phrase usage. When the definitions of those words or phrases deviate substantially from the mainstream audience understanding and cause confusion, it's worthy of pointing out or discussing for clarity. When it's merely a choice of semantics and the meaning is understood, it's nitpicking and contrary to good community support. There's another definition on that Abbreviations List - FSR (Friendly, Supportive, Respectful.)
Well @ptatohed is a great citizen of this forum; he's just a stickler for grammar, usage, punctuation, and spelling

Great proper usage of an Oxford comma SJ!

Re: Chase Hyatt on chopping block

cws-21 — Sun, 11 Feb 2024 22:49:37 GMT

@ptatohed wrote:
Great proper usage of an Oxford comma SJ!

I do appreciate the use of an Oxford comma as well. Back to "Chase Hyatt on chopping block."

Re: Chase Hyatt on chopping block

ptatohed — Sun, 11 Feb 2024 22:54:28 GMT

@Aim_High wrote:
@ptatohed wrote:

I think through both myFICO's definition that you showed, and through nearly all credit card issuer's terminology, 'Sign Up Bonus' is misused around here.

If Signup Bonus is misused around here, it's also "misused" almost everywhere that discusses special banking industry incentive for acquiring a new account. A quick web search for "Sign Up Bonus" finds most websites and message boards that discuss these types of cash or points spending rewards incentives use the term SUB or Sign-up Bonus to reference them as a group. And that has likewise been the accepted standard on My FICO. Here's just a few examples that came up in my web search.

Experian:   A credit card intro bonus, also called a credit card sign-up bonus, is an incentive for signing up for a credit card and spending a certain amount on it. A ...
Forbes
CNBC
TIME Magazine
US News and World Report
Kiplinger Personal Finance
Wall Street Journal
Chase Bank
Doctor of Credit
The Motley Fool
The Points Guy
Credit Karma
Wallet Hub
Reddit
Award Wallet
Southwest Airlines Community Board

A bonus is something you get no matter what, just for acquiring the new card.

Well, I don't know of any credit card that gives you something - without any action or qualifications on your part - just for signing up for a new card. You always have some response. With a spending type bonus, you must spend x amount within x timeframe. For some minimum usage bonus (like I got with my Barclay's Aviator Red), I had to swipe the card once and make a payment to get the AA miles. For spend rebates (like I got with my Synchrony Verizon Visa), I had to spend $100 to get a $100 credit. With intro financing offers, you must transfer a balance amount no higher than your approved credit limit, maintain payment status in good standing, and either pay off the balance within the intro period or transfer it elsewhere to avoid paying a higher APR that would negate benefit. And sometimes, you must also pay a balance transfer fee.   Same for banking deposit SUBs, where you must meet restrictions on deposit, maintaining a balance, making direct deposits (sometimes in a minimum amount), etc. Nobody just hands you money or points or miles after the application is approved.

I've never see a CC issuer use the term Sign Up Bonus, have you? I think common terms used by CC issuers are "Welcome Offer" or "Rewards Bonus Offer", etc.

I believe the "SUB" term referenced above is just a way of standardizing the lingo, and that's why you see it everywhere, including My FICO. You are the first person I've ever heard to question it or apply a different definition. Sure, lenders may use different terms for their new cardmember promotions. That doesn't make lumping them all together under the "SUB" label incorrect. As a matter of fact, you say that a spending bonus for a new card is an 'intro OFFER." However, if you note the websites for many major lenders, they call a cash or points reward a cash BONUS or a cash rewards BONUS, not an OFFER. On the other hand, a special financing promotion is often called an "introductory offer." Check the websites (including the fine print of offer terms) for Chase, CITI, US Bank, Capital One, and Wells Fargo for a few examples. I won't bother to screen shot them all.

I don't disagree that the term SUB is used all over the place. Just like every flying disc is a Frisbee, every tissue is a Kleenex, and everyone 'rolls' up their power windows. But, again, I don't think it is the right term and it is not used by banks themselves. Your examples are all third party. cws came close with showing Chase putting 'sign-up bonus' in parentheses but their real term is sign-up offer. It's not that big of a deal and certainly not worth typing paragraphs over. Of course everyone will continue to use SUB and yes I know what they mean.

Re: Chase Hyatt on chopping block

Aim_High — Mon, 12 Feb 2024 17:42:57 GMT

@ptatohed wrote:
@SouthJamaica wrote:
Well @ptatohed is a great citizen of this forum; he's just a stickler for grammar, usage, punctuation, and spelling
Great proper usage of an Oxford comma SJ!
= = = = = = = = = = = =
@cws-21 wrote:
I do appreciate the use of an Oxford comma as well. Back to "Chase Hyatt on chopping block."

Well, finally something we can all agree upon! I, as well, am a huge fan of the Oxford Comma!

Re: Chase Hyatt on chopping block

SouthJamaica — Mon, 12 Feb 2024 04:13:08 GMT

@ptatohed wrote:
@SouthJamaica wrote:
@Aim_High wrote:
@SouthJamaica wrote:
Nevertheless, though you may not like the term because it does not literally give you a bonus for merely signing up, it is the term that is commonly in use for the rewards bonus attached to opening new cards conditioned on meeting a spend requirement, and also for the rewards bonus attached to opening new deposit accounts conditioned on meeting certain activity requirements. So I will continue to use the term signup bonus since everyone including you knows exactly what we mean by it.
Totally agree @SouthJamaica. There's nothing wrong with using the SUB terminology for any new card promotions, as it is a well-accepted phrase. And I, too, will continue to use it.

On message boards like My FICO, we can split hairs with each other over many things without accomplishing anything but creating division. And we all make mistakes sometimes: grammatical mistakes, typos, spelling, punctuation, or even word or phrase usage. When the definitions of those words or phrases deviate substantially from the mainstream audience understanding and cause confusion, it's worthy of pointing out or discussing for clarity. When it's merely a choice of semantics and the meaning is understood, it's nitpicking and contrary to good community support. There's another definition on that Abbreviations List - FSR (Friendly, Supportive, Respectful.)
Well @ptatohed is a great citizen of this forum; he's just a stickler for grammar, usage, punctuation, and spelling
Great proper usage of an Oxford comma SJ!

Is there any other?