The front-of-the-wallet position for credit card companies is a huge thing nowadays. The reason is that people will normally use that card for their regular spending. While we all like to use the cards that give us bonuses for certain categories, most people will just pull out the card that happens to be on top.
Chase and Hyatt Will Give You $50 to Earn Some Of Your Spending
To make you put the Chase Hyatt card in that position, Chase and Hyatt will give you $25 per month (for both November and December) to have you put some of your spending on that card. Here are the details of this promo (you must register!).
- Register your Hyatt card (the old one) or your World of Hyatt card by November 30, 2018
- Spend $500 or more in combined purchases in the following categories in November or December:
- Cable and phone services
- Grocery stores
- Movie theaters
- Get a $25 credit on your Hyatt credit card or World of Hyatt credit card statement for each month of qualified spend
- Max credit is $50 if you qualify in November and December (that is spending $500 in those categories each month)
Chase and Hyatt Want to Monopolize Your Card Use
This is a good move by Chase and Hyatt when you look at those categories. They are categories that most credit card-holding people do spending in every month. They are also categories that other credit cards offer bonus points/miles/cash back in. For example, there are business cards (from Chase!) that will give you bonus points on your internet, cable, and phone services, Amex has their Business Rewards Gold card that will give you bonus on shipping (as will Chase business card), there are personal cards that do grocery stores and quarterly bonus cards that cover movie theaters at various times.
This means that Chase and Hyatt want you to use their cards for these two months in place of several other cards that can give bonuses in those categories. If you hit the $500 each month, this is a 5% return on your spending. That is better than the other cards (unless you value the points earned from them higher) so many people will likely do this. This move will encourage people to use their Hyatt cards for more spending as well so it is a win-win for Chase and Hyatt.
I just wish they would give Hyatt points instead of the cash! 🙂