Last week, Hyatt announced a revamp of their several years old credit card. This new World of Hyatt credit card brought their co-branded card up to more modern standards, as far as what people look for in a hotel card. You can read all about the card here.
Who Should Upgrade to the New World of Hyatt Card?
Link: New World of Hyatt Card
I published a post shortly after that about “should you upgrade to the new World of Hyatt card?” The post looked at the different earning potentials based against an annual fee that was $20 higher than the old one (which is no longer available to apply for).
However, not everyone that has the Hyatt card should upgrade to the new World of Hyatt card. So, I thought I would do a short post to look at who should upgrade and what you should do if you have the old card at all.
Did You Just Apply for the Old Hyatt Card in the Last 24 Months?
Go ahead and upgrade (you should be able to do it from this website eventually). This is because you will not be eligible for a Hyatt card bonus if you already had one in the last 24 months.
It also means that you will not be resetting the 24 months calendar if you upgrade. So, if you got the old Hyatt card last year, you would be able to upgrade now and then close that new card in a little over a year before applying for it again to get the bonus.
Have You Had the Old Hyatt Credit Card for Longer Than 24 Months?
Here is where it gets a bit tricky. The answer depends on what your goal is with cards from Chase. I think the sign-up bonus of 60,000 Hyatt points is awesome and definitely worth over $1,000. But, maybe you are not that loyal to Hyatt or maybe you would rather get something like airline miles or Ultimate Reward points.
If you have a specific chase card in mind and are at 4/24 or 5/24 and up, upgrade.
While the new World of Hyatt card does not currently have the Chase 5/24 rule apply to it, it will count towards your 5/24 number. So, if you are waiting for something like the Chase Sapphire Reserve/Preferred and you are at 4/24 (and won’t drop any lower in the next few months), it is better to upgrade.
If you are under Chase’s 5/24 and already have the old Hyatt card (for at least 24 months), don’t upgrade.
If this above one is you, the best thing to do would be to close your Hyatt credit card and wait a couple of weeks to a month. Then apply for this new World of Hyatt credit card. This way, you will get all of the fantastic earning potential plus you will get the 60,000 points
If You Have the Old Hyatt Card and Are Not Eligible to Get the New One, Should You Upgrade?
Here is the thing – shortly after I wrote the last upgrade post, Chase stopped taking applications for the old Hyatt card. I would imagine they would be grandfathering people to the new World of Hyatt card at some point. The problem for them is it comes with a $95 annual fee – $20 higher than the old one has.
To lessen that blow right now, they are offering a 2,000 point bonus to upgrade.
If you really don’t care about the new features on the World of Hyatt card and you just keep the old one for now for that anniversary free night, I would hold off on upgrading right now. Chances are that Chase may actually offer you a bit more to upgrade in the future if they are trying to close down the old line. Either way, you can save $20 now by not upgrading if you do not plan to put any spending on it.
Chase and Hyatt clearly designed this new World of Hyatt card to be a card that customers actually spent on. The old Hyatt card was a perfect sock drawer card but Chase has done some nice things to encourage spending with the new one.
While it is nice to have the brand new thing, you may want to look over your options as to whether you are better off upgrading now, shutting your card down and applying for a new one, or just sitting on it to see what happens.