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Chase Hyatt Visa Signature Credit Card – Free Nights worth the Expenditures?

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Chase Bank and Hyatt world-wide properties have joined together to produce the Chase Hyatt Visa Signature credit card, focusing mainly on frequent travelers who enjoy staying at Hyatt brand hotels. However, despite the numerous card benefits, it always pays to review the pricing and terms as well as offer details before applying for any credit card.  We’ll provide a brief overview of the Hyatt Visa Signature credit card for a glimpse, but encourage you to always dig a little deeper before filling out applications.

Hyatt Visa Signature Credit Card Benefits

The Hyatt Visa Signature credit card provides a variety of benefits, most especially to frequent travelers. One of the main perks offered by this credit card are two free nights – but only after you spend $1,000 within the first three months of your account opening. Be advised that that offer is only for first-time Hyatt credit card members. In addition to two free nights, you able to earn a variety of Gold passport points everywhere you use your Hyatt credit card.

For example, earn three points for every dollar you spend at any Hyatt property when using your Hyatt Visa Signature credit card. You can also earn two points for every dollar you spend on airline tickets (purchased from airline vendors), cars from car rental agencies, and at restaurants. Last but not least, you’ll earn one point for every dollar you spend anywhere else, and where Visa is accepted.

You won’t pay any foreign transaction fees on purchases made outside of the US, a definite perk for frequent international travelers. In addition, the Hyatt Visa Signature credit card comes with a zero dollar introductory annual fee waiver, but after that you can expect to pay $75 a year for your membership fees.

In addition, ownership of a Hyatt Visa Signature credit card enables card members to upgrade to Hyatt Gold Passport Platinum membership; and last but not least, card members will earn a free night at a Hyatt property ranked in the Categories One through Four on the anniversary date of your membership. We’ll talk more about the stipulations attached to these benefits in just a bit.

When it comes to hotel categories, take the time to look at how Hyatt ranks or categories its hotel properties. The Hyatt website does provide an “Awards Calculator” so that you can determine how many points you need for certain categories of hotels. Visit Hyatt for redemption options, upgrades, the awards calculator, points in cash, and other ways to redeem your points or you can call their customer service number when it comes to booking hotel or resort stays.

An additional benefit attached to the Hyatt Visa Signature credit card is their smart chip technology, utilizing the embedded smart chip in your credit card to enable card holders to use that card in any country around the world that utilizes this chip-based technology.

You don’t have any limitations to the number of points you can earn on a yearly basis. Card members can start redeeming free nights with a minimum of 5,000 points, although you will be limited to a Category One hotel. Finally, card members can gradually work their way to Diamond status after spending $20,000 every calendar year, and receive two stay credits and five night credits toward your Diamond status. If you spend $40,000 in each calendar year, you’ll receive a bonus of three stay credits and five night credits toward your Diamond status.

Let’s Talk about Terms and Conditions

The Chase Hyatt Visa Signature credit card comes with an annual percentage rate of 15.24%.  The same APR applies to balance transfers. If you want to make a cash advance, you can expect to pay a 19.24% APR. This same APR applies to overdraft advances. If you make a late payment or a payment is returned, or exceed your credit limit not only on this card, but on any other loan or account you have with Chase Bank or its affiliates, you can expect a penalty APR. A 29 .99% penalty APR will be attached to your car in any such cases, and that APR will remain on your account indefinitely.

We already mentioned that you won’t pay an annual membership fee for the first year, but every subsequent year, you’ll pay $75. Transaction fees apply to balance transfers and cash advances. Visit the website for additional information, but you can expect to pay a minimum of $5 or 3% of every transfer amount, whichever is larger. When it comes to cash advances, you’ll pay $10 or 3% of that cash advance transaction, again whichever is larger. While you won’t pay any foreign transaction fees, you will pay fees for late payments, return payments, or returned checks.  Expect to pay up to $35 for a returned payment or check. When it comes to late payments, you’ll pay $15 in penalty fees if you have a balance of less than $100, $25 if your balance is between $100 and $250, and $35 if your balance is greater than $250.

Bottom Line

While the annual APR of 15 .24% is a positive perk that comes with the Chase Hyatt Visa Signature credit card, you’ll have to do the math when it comes to determining the amount of money you have to spend in order to earn free nights at Hyatt properties. For some, the cost of flights and hotels, whether they’re Hyatt or not, are not worth the amount of money you need to spend in order to benefit from the rewards or free nights program. For frequent business travelers, this may be a good deal, since you’re flying anyway. However, only you can decide.Before you do, get out the calculator and do the math.

 

Be aware that you have to follow certain stipulations when it comes to earning free nights, points, or achieving Diamond status. Carefully read the terms and conditions of each of these benefits to avoid unpleasant surprises. Regardless, be aware of what you can or cannot redeem your points for when it comes to Hyatt brands and services.

 

 

 

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