World of Hyatt and JP Morgan Chase unveiled the new Hyatt Credit Card a few weeks ago and now there is a landing page available where customer can upgrade their existing card product to the new one.
Back then I speculated about the opportunity to upgrade existing cards to the new product and sure enough it was offered soon thereafter through the phone and now there is a website for this as well as I noticed while checking my Hyatt account today.
You can access the Chase landing page for the card upgrade here.
However there are some reasons why a card upgrade might not make sense for you and the two main issues are
Based on reports from people who talked to Chase and experienced the same with other products issued by them your card anniversary will reset and you’ll potentially (most likely) lose out on your anniversary free night if it’s coming up soon. For example my free night is January 13th so if I reset now I’ll lose out on half of my free night as I’m right in the middle. Advantage: I could get another 5 qualifying nights this year without much sweat.
However if I’d upgrade now and reset my membership year plus pay the small $20 upgrade fee I should be able to also save half the year of my annual fee so it kind of evens itself out.
As this is a new card product you could also get a brand new sign-up bonus if you cancel the old card, apply new and haven’t received their current card in the last two years:
The product is not available to either (i) current Cardmembers of any Hyatt Credit Card, or (ii) previous Cardmembers of any Hyatt Credit Card who received a new Cardmember bonus within the last 24 months.
Of course there is no guarantee you will be approved again once you cancel your old card so there is a small risk involved. I won’t be playing the re-apply game because I don’t want to raise red flags with Chase and don’t want to risk losing my very generous credit limit on the current Hyatt card.
The 2000 points upgrade bonus aren’t really worth anything. The only reason why I would maybe upgrade this year is to get the extra 5 nights. I’ll think about it this week as 5 qualifying nights are worth more than half a free night in Cat 4 should the anniversary year reset. Have you experienced issues with this yet?
I rarely get excited over credit cards and only write about them if there are firm travel features attached to the card. I am a big fan of hotel credit cards because the annual fee is usually low and you get a free annual night with most of these cards that more than offset what you pay for the card.