The Chase Hyatt Visa Card is a good card to apply for if there is a Hyatt stay in your future or you like Hyatt Hotels. Reason being, card members receive 2 FREE NIGHTS after spending $1,000 within the first 3 months and the annual fee of $75 is waived the first year. The good thing about this deal is that these 2 free nights can be at any Hyatt, even Hyatt’s highest category properties (Categories 6 and 7). Also this card earns you Hyatt Gold Passport points on spending. (Hyatt’s rewards program).
I got this card about 2 years ago and immediately started charging on it to spend the $1,000 in 3 months. I succeeded (not so hard with a family), and the 2 free nights were deposited into my Hyatt Gold Passport Account. We used these 2 free nights to stay at the Hyatt Regency Coconut Point Resort and Spa in Bonita Springs, Florida. The hotel was great, it was free, we were all happy!
Rob just recently took advantage of this same offer and the 2 free nights are sitting in his Hyatt Gold Passport account. I am not sure how we will use these 2 free nights yet, but I will be sure to let you know. 🙂
However, I think that this card is only worth applying for after you have another Chase Credit card or cards that yield Chase Ultimate Rewards. After all, Hyatt is already a Chase Ultimate Rewards Partner and the other cards that Chase offers like the Chase Sapphire Preferred or the Chase Freedom Card offer many more extra point earning ability on everyday spending and should be be the ones you use regularly.
I actually stopped using my Chase Hyatt card once I earned the 2 free nights. (Rob just stopped on his card too) When the time came a year later to pay the $75 annual fee, (this fee was waived the first year), I tried to get Chase to waive it but they refused. (Some credit card companies will waive or negotiate with you to keep you from canceling, not Chase. Read more about this in my separate post Getting Started, Number 7). So I canceled my card! Don’t forget, canceling a card has a small impact on your credit score as long as other positive financial factors are in place. You can read about the effect of canceling a card on your credit score here.
From my experience, Chase may only approve you for one card every 6 months or so. So if you want this card but have recently gotten another Chase credit card, your application may be declined. If you still really want this card, try calling Chase at 888-609-7805 or 888-270-2127 to move some of your credit from one of your existing Chase credit cards to this new line of credit. Read more about this in my separate post Getting Started, Number 6.