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A couple of days ago I wrote that Hyatt cardmembers can now get 10,000 points for successfully referring friends to the card. I think it has a nice signup bonus, albeit arguably not as nice as when they offered 2 free nights at any property, and the annual free night with renewal is worth the card’s fee. And all reports are that it isn’t subject to 5/24 for getting approved.
It’s not good for spending, though, because earning 1 Hyatt point per dollar isn’t as good as earning 1 mile in many cases and definitely not as good as earning 1 transferrable points currency like Chase Ultimate Rewards or American Epxress Membership Rewards. And spending for category bonuses on the card can be done more rewardingly with other cards.
Park Hyatt Sydney is 30,000 points per night
One Mile at a Time wrote that the card “is an all around no brainer.”
I’d argue that used to be true but because of Chase’s 5/24 rule it no longer is. Chase will only approve most people for many of their cards if they haven’t had 5 new credit cards within the past 24 months. So you have to pick and choose carefully which cards to sign up for.
If you’re under 5/24 — meaning you haven’t had 5 new card accounts in the last 24 months — you shouldn’t get the Hyatt card. You want to get cards where the limit applies, because you’ll be out of luck for them later. Get the Chase Sapphire Preferred Card first, so you don’t lose out. And get the Ink Business Preferred Credit Card which has the best publicly available signup bonus of any card and very strong earn for your spending (both earn points that transfer to many different airline and hotel points programs).
If you’re over 5/24 you can consider the Hyatt Credit Card, as you aren’t excluded from it on that basis. Although I’d argue the British Airways Visa Signature® Card is a better choice among Chase cards where 5/24 reportedly doesn’t apply.
British Airways First Class
The point is that issuer restrictions on card approvals and signup bonuses that have been introduced over the last couple of years make us pickier about which cards to get, and more strategic. I certainly wouldn’t prioritize the Hyatt card over a Chase Sapphire Preferred Card for someone that has not yet had 5 new cards in the last 24 months.