Chase Thwarts My CSP Plans (Chase Hyatt Visa, Here I Come!)

As I’m sure most of you’ve heard, Chase has just introduced draconian new rules for those who covet their Sapphire products. The biggest bummer and one I initially missed, is this little wording in the terms:

So, what that means is if you’ve applied for Chase Sapphire Reserve last year and received the bonus, you won’t qualify for sign-up bonus on Chase Sapphire Preferred for two years after that date. I must say, this is a brilliant move by Chase and one I have not anticipated. In reality, though, it shouldn’t come as a surprise to anyone because another bank has been following a similar policy for over a year. I’m talking about Citi, of course.

And if you think about it, why would anyone need both Chase Sapphire Reserve and Chase Sapphire Preferred? Well, aside from wanting the bonus, of course. And Chase is not in business of handing out free points for no reason, but rather making  a profit. So, I totally understand where they are coming from.

If you are new to miles and points hobby, you shouldn’t be too concerned. I personally would start with Chase Sapphire Preferred rather than Reserve unless you really need Priority Pass lounge access. Feel free to reach out to me at milesforfamily@gmail.com and I can give you tailored advice based on your specific situation.

You snooze, you lose

Some of you may remember my post  where I debated on whether to stop by Chase branch and check for pre-approval status on Chase Sapphire Preferred. I had it in my profile last time, back when I applied for Chase Sapphire Reserve. So, I was hoping the lightning would strike twice. Unfortunately, Chase branch is located 1 hour from my house, and I’m a busy mom/small business owner.

So, I dragged my feet on this one. Well, I finally rearranged my schedule and made plans to stop by the branch tomorrow. Aaand it’s too little too late. Oh well, like I always say, you win some, you lose some in the miles and points hobby. I’m not going to stress over banks outsmarting me now and again. Besides, it’s possible I wouldn’t have had a pre-approval in my profile anyway.

My husband just got approved for  Hyatt co-branded Visa few months ago, so we will leave Chase alone till next year. I’ve said before that I don’t like to get too aggressive  with that bank. Chase has been very good to us over the years, and most of my non-bonus spending is thrown their way.

Chase Hyatt  Visa it is

I was actually thinking about applying for it anyway, so this new development solved the dilemma. No, I’m not talking about elite status fast track offer for Hyatt Visa cardholders that is currently causing all the buzz in the miles and points industry. I’ve never pursued status via stays and not about to start now when I have bills coming out of my ears.

The offer may be appealing to some (stay 10 nights to get Explorist, 20 to get Globalist status through February of 2019), but I will only be staying in a Hyatt resort for two nights between now and the end of the year. I recommend you don’t get caught  up in Globalist hysteria and do math first to see if having status will pay off in the long run.

Please, don’t start scheduling unnecessary hotel stays for the sake of “free” food and upgrades at some point in the future. Like I’ve said before, free travel in this hobby can get very expensive, fast. Watch out, because you too can easily get infected with “status chasing” bug. Check out the comment from reader Cheapblackdad that he made on Nancy’s Monday post: “Us buying DVC would be like giving up our saving money superpower. It’d be like Superman getting a kryptonite necklace because the salesman (Lex Luther), said it looked good on him in the store.” That’s how I feel about status chasing. But I’ll happily take it when it’s free.

For me, applying for this card is strictly about the points. My husband actually has Explorist status through February of 2018, and two out of four Club upgrades will go unredeemed. And I’m not concerned. My kids and spouse do really like Hyatt resorts, though, and I’m all for making my family happy. Just not if we have to pay for eighteen (!) additional hotel nights for no reason.

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p style=”text-align: center;”>Waterpark at Hyatt Regency Coconut Point Resort and Spa

We use various hotel programs since my goal is to travel on the cheap. To me the chain doesn’t matter a whole lot. But I have to admit, when it comes to facilities and overall quality, Hyatt resorts blow Holiday Inn out of the water.

I got this card few years ago and recently  reached out to Chase via secure message to double check when the bonus nights were deposited. This is a crucial detail because you are only eligible for  new sign-up bonus after 24 months has passed. Here is the response I got:

So, it looks like I’m good to go. It is cutting it a bit close, but technically, it has been 24 months. So I went ahead and applied. Pending… I don’t like calling Chase reconsideration line and usually just let the application process run its course. So, I figured I would wait for the letter. To my shock and amazement, new Chase Hyatt card showed up in my profile just an hour later. Score! I didn’t get any email on it, but looks like it was approved.

This is a very good card to hold on to due to renewal certificate each year. For only $75 annual fee you can stay in a category 1-4 Hyatt property, a fantastic deal. It’s a decent price even for an airport hotel, but you can do much better. Here are just some of the properties in US where you can use the certificate:

California

• Hyatt Centric Fisherman’s Wharf San Francisco
• Hyatt Centric Santa Barbara

D.C.

• Grand Hyatt Washington
• Hyatt Regency Washington on Capitol Hill

Florida

• Hyatt Centric South Beach Miami
• Hyatt Place Marathon/Florida Keys
• Hyatt Regency Coconut Point Resort and Spa
• Hyatt Regency Grand Cypress
• Hyatt Regency Orlando

Louisiana

• Hyatt Centric French Quarter New Orleans
• Hyatt Regency New Orleans

New Mexico

• Hyatt Regency Tamaya Resort and Spa

Washington

• Grand Hyatt Seattle
• Hyatt at Olive 8

All of these hotels are most certainly worth $75 all-in. As a Floridian, I have several decent options which I know my kids will enjoy. So, I plan to hang on to this card unless they gut the program.  I canceled it previously  because I thought it would help  with CSR approval. I’m so glad Chase let me get it again, and with a sign-up bonus to boot. That’s why I have nothing but love for that bank, despite recent developments.

If you want to apply for this card, you will need to go to Hyatt.com and make a dummy booking. On a payment page you will see an offer that comes with 40k points +$50. Annual fee of $75 is not waived. You should also be eligible to get 5,000 points for adding an authorized user, but it’s not mentioned on the landing page. YMMV As of now, this card is not subject to Chase 5/24 restriction.

Plans going forward

Not much is going to change, really. I plan to apply for offers that fit into my upcoming plans. Short version: flexible points first, cash second, miles third, hotel points last. Occasionally, I make an exception like I just did with Chase Hyatt Visa. I don’t actually have any specific plans for the bonus. We are low on hotel points, though, and I would prefer that both of our annual certificates renew around the same time. That will make it easier to plan a weekend getaway at one  of Florida Hyatt resorts.

For those of you who decided to skip recent good offers in hopes of staying under 5/24 and getting approved for Chase Sapphire Preferred, my sincere condolences. The game always changes and we have to adapt. The goal is not to let negative changes upset you, not even a little bit.

I’m looking forward to  putting my Hyatt points to good use. And despite setbacks, I’m still having fun with this whole miles and points nonsense! Are you?

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