New Increased Chase Hyatt Visa Offer
Earlier today I covered a Quick Deal about a new offer on the Chase Hyatt Visa Signature card. I have written about this card in the past and currently am a cardholder myself. Since I think this new offer is pretty amazing, I thought I would break it down for you.
The Offer
The normal public offer for the Chase Hyatt Visa Signature gives 2 free nights at any Hyatt. I have written in the past about a trick that allows you to get a $50 statement credit. Basically it involves making a dummy booking on the Hyatt website, but there is no way to get a direct link.
Related: Chase Hyatt Visa Review
Thanks to Free-quent Flyer on Twitter, not only do we now have a direct link to an offer that gives a $50 statement credit, but this new offer is even better. Here are the details:
- $0 first year annual fee ($75 thereafter.)
- 2 free nights at any Hyatt after $1k in spend.
- $50 statement credit after first purchase.
- 5,000 bonus points after adding an authorized user when they use their card within 3 months.
As you can see, in addition to the free nights and statement credit, this offer gives 5,000 points as well. Keep in mind that the Chase Hyatt Visa also features no foreign transaction fees and gives Platinum status which isn’t worth much, but can lead to modest upgrades.
The Value & Analysis
With an offer such as this, I feel it is important to calculate the value of the bonus and then determine if the card fits into your strategy based on your unique situation and goals. Here is how I value this increased offer:
2 free nights
This is hard to calculate. I am personally going to be using my 2 free nights at a hotel that goes for $500 or more a night. A couple of years ago when my wife got this card, we used the 2 free nights at the Park Hyatt Tokyo for nights that were north of $800 including tax. (We actually stayed in an $1,800 per nigth suite, but regular rooms were $800.)
Conservative Value: $500 ($250 per night.)
$50 Statement Credit
This one is easy since it is a statement credit. Simply make a purchase and you will receive this credit on your first statement automatically.
Value: $50
5,000 Hyatt Gold Passport Points
Hyatt points are very valuable unlike their Club Carlson, Marriott, Hilton and IHG counterparts. I often transfer Ultimate Rewards points to Hyatt and normally achieve around $.02 per point in redemptions. With that said, $.02 doesn’t always happen, so I conservatively value Hyatt points at $.017. Remember that 5,000 points is enough for a Category 1 redemption.
Conservative Value: $85
Total Value
So as you can see, I value the sign-up bonus on this card at around $635. Since I value the additional 5,000 points at $85, this offer is $85 better than anything I have seen before for this card. Oh and who doesn’t love Hyatt!
One other thing to consider is that this card also comes with a free night at a category 1-4 Hyatt each year after paying the $75 annual fee. I won’t go into more detail here, but I have written about a good strategy that can be used with Chase credit cards.
See: Hacking Chase Hotel Credit Cards – Maximize Benefits & Bonuses
Conclusion
I think this is a terrific offer. If I didn’t just get this card a few months ago then I would be applying now. The addition of the 5,000 bonus points really puts the bonus over the top in my opinion. Any card that gives over $600 to sign-up is definitely worthy of a look. As to whether or not you should apply, well of course that depends on a number of factors that you will have to take into consideration yourself.
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I just signed up for the card yesterday after waiting a long time for a better offer. Figures the day after I sign up I found one. Figures.
Hopefully you can get them to match it.
[…] here to see the latest Chase Hyatt sign up bonus offer: Get 2 Free Nights, $50 & 5,000 […]
Shawn, Can I apply for the Chase Hyatt card and Freedom card at the same time.? I currently hAve two chase personal card. Thanks.
I have the card, but am eligible to get bonus now. How long should I wait to reapply after I cancel?
That is really a personal decision. As long as it has been 24 months since you receive the bonus, it is allowed per the terms. Of course closing the card and reopening it right away may not make Chase happy. I would probably wait a couple of months personally.
Erik it was a year when I got mine. I still have the card I’ve found it to be a good value with the annual free night.
I got the card a year ago. Can I get it again?
Cool…can you tell me how long do you have to use the free night certificates?
The free night certificates are good for 1 year from their issue date.
Just applied for this prior to the bonus. Should I contact chase or Hyatt to see if I can qualify on my recent application?
any idea if this will work from Canada ?
Any idea how long this one will last? Was looking at the Citi Hilton Reserve before the $100 credit goes away, but this trumps that. Think 4 chase cards in 1 calendar year will preclude another one?