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I was thinking about canceling this card since CHASE is forcing us to pay the extra for the higher fees.
I don't travel too much, and with everything going on, I don't know when I'll be 100 on traveling in very near future. I figured it's worth keeping since the annual fee is $75, but now, just not so much.
Should I just cancel the card? I already have my night certificates that remain unused.
What do you think? What would you do?
To add, if IHG goes the same route, I may cancel that as well.
I have a free IHG night and 1 WOH free night but it doesn't expire until next year so still have time. man, you're just paying an extra $20... It's not like a airline ticket, where you have to hop on the uber, get to the airport, wait, and repeat the process to get to the destination. For me, sometimes I want to get away and the annual fee pay for itself. Think about it bro.
Idk, like I know some people they have the Gold and even tho they pay $250 and they're getting $240 in dining credits, they still cancel. To me, I don't value MR points enough.
@MoneyBurns wrote:I was thinking about canceling this card since CHASE is forcing us to pay the extra for the higher fees.
I don't travel too much, and with everything going on, I don't know when I'll be 100 on traveling in very near future. I figured it's worth keeping since the annual fee is $75, but now, just not so much.
Should I just cancel the card? I already have my night certificates that remain unused.
What do you think? What would you do?
To add, if IHG goes the same route, I may cancel that as well.
Just something to keep in mind while you're on the fence. In the event you decide to cancel IHG and/or Hyatt, consider reallocating the CLs to any existing Chase card, such as Freedom (if that matter for your profile).
Man, I love my Hyatt card. I value Hyatt points at 1.7 cents.
If you can spend exactly $15K per year on the card (earning a second free night certificate worth 15,000 points), then the card effectively earns Hyatt points worth:
5.1% at restaurants, gyms, transit and flights.
3.4% everywhere else
I value the annual free night at $255, so the card earns $160 per year without these point categories.
Thus for me, it's both a keeper card AND a daily driver. Once I hit $15K spend, then I'll use Double Cash for non-category spend.
I used to spend a lot of time debating if I wanted to keep a card or not but at the end of the day if you don't feel you are getting the value, don't pay an AF that isn't give you the necessary value. You can either try to PC the card to a no AF card or if it isn't your oldest card and you don't need it for util you can just cancel it. I wouldn't sweat it, you can always get the card again in a couple of years if you do start traveling again and unless they introduce lifetime language you might even be able to get a SUB at that time.
You make a good point about the value of the free nights.
I'll hold onto em I think, as I'm LOL/24. Chase wouldn't come near me even if I had trillion dollars. 😂
I'm thinking the same about cancelling my card mostly because it's a forced upgrade and do it out of spite.
-I can't put 15k on the card each year.
-No gyms
-No tolls/transit
The increased fee isn't supposed to happen until Aug 2021 and my renewal is next month so I have a full year to decide.
But then I look to my Marriott card which is $95 and the night certificate on the Hyatt is easier to use because of peak pricing Marriott has. I did get to use my night this year for a $100 room when I took a vacation compared to last year when I got at least $150 room.
@Anonymous wrote:Man, I love my Hyatt card. I value Hyatt points at 1.7 cents.
If you can spend exactly $15K per year on the card (earning a second free night certificate worth 15,000 points), then the card effectively earns Hyatt points worth:
5.1% at restaurants, gyms, transit and flights.
3.4% everywhere else
I value the annual free night at $255, so the card earns $160 per year without these point categories.
Thus for me, it's both a keeper card AND a daily driver. Once I hit $15K spend, then I'll use Double Cash for non-category spend.
The free room is good up to Cat 4. Fair to say its worth at least 15,000 points.
Then for that first $15k spend you're getting an extra 1x point per dollar so it makes the Hyatt card worth 2x/3x.
If you're chasing the qualifying nights you get 2 of those (worth at least 5,000) for every 5k spend. That adds another 2x per dollar spend.
Combining both through the first 15k spend the 1x/2x categories become 4x/5x. On top of that an extra 8x on the credit card per Hyatt spend, plus promotional points (like the 3x they have now) and tier status points.
@MoneyBurns wrote:I was thinking about canceling this card since CHASE is forcing us to pay the extra for the higher fees.
I don't travel too much, and with everything going on, I don't know when I'll be 100 on traveling in very near future. I figured it's worth keeping since the annual fee is $75, but now, just not so much.
Should I just cancel the card? I already have my night certificates that remain unused.
What do you think? What would you do?
To add, if IHG goes the same route, I may cancel that as well.
You could try for status in 2021. Explorist is only 15 qualifying nights. You get 5 nights with the credit card. That leaves you 10 nights short.
Free night certificates can cut into the number you need. Say that gets you within in 8 nights. At 5,000 a night for a starter hotel that is only 40,000 more points to spend for Explorist. You could take 40,000 points and buy Explorist status.
Then once you have Explorist you can status match to MLife Gold and back and forth for life. With MLife Gold you can status match to Ceasar's Gold. Nice perks at the casinos. It can ultimately be matched back to Hilton and Marriott Gold too.
For the statuses alone it might be worth keeping it and cashing out points for.