I’ve given up on getting under 5/24. There are just too many other good cards out there and Chase keeps moving the goal posts.
See: New Chase 48 Month Sapphire Rule: What To Do Now And Going Forward
To celebrate, I’ve decided to apply for…another Chase card.
Why the Chase Hyatt Visa?
The Chase Hyatt card offers:
- 60,000 point signup bonus (40,000 after $3,000 in 3 months and an additional 20,000 points after $6,000 total spend in the first 6 months)
- $95 annual fee (not waived the first year)
- Cat 1-4 free night certificate on anniversary (plus another if you spend $15,000 on the card)
- 4x at Hyatt
- 2x on travel (except for other hotels), dining, and gym membership
- 1x everywhere else
- 5 status qualifying night credits for having the card
- 2 additional status qualifying night credits for each $5,000 in spend (it’s now possible to spend your way to status, but it requires a lot of spend)
My wife signed up for this card, mostly for the 60,000 point signup bonus. Hyatt has a very favorable award chart and I have a pretty easy time getting 1.5 cents per point of value out of them, if not more, and they have a lot of great properties. So this bonus is worth at least $800 to me.
I have Hyatt Globalist status and she does not, so I’ll transfer the points from her Hyatt account to mine to book reservations. Hyatt allows free transfers of Hyatt points to another member’s account.
Constraints
To be eligible for the signup bonus:
- The card is not subject to 5/24
- It needs to be more than 24 months since you last got the signup bonus for any Hyatt credit card
- You cannot get the signup bonus for the card if you currently have the card
So, in order to get the signup bonus again (after it’s been 24 months) you need cancel your current card before applying.
But the question is: How long do you have to wait after cancelling before reapplying?
This FlyerTalk thread has varying datapoints and theories.
Timeline: Chase Hyatt Cancel/Reapply
- 9/20 – Statement closes with $0 balance
- 10/3 – Closed via secure message
- 10/18 – Applied online through a friend’s referral link
The application went pending and was approved without intervention later in the day.
Chase generally doesn’t approve you for a card if you’re ineligible for the signup bonus, so I’m confident about the signup bonus eligibility.
Bottom Line
Some datapoints have suggested that you need to wait 30 days after cancelling a Chase Hyatt card before reapplying.
But my experience was that I was able to get an approval, without calling, 15 days after closing the card.
Caution: Chase has been closing some accounts after reviewing your overall relationship with them when applying for a new card. If you’d rather not have “eyes on your account” I’d avoid applying for new cards.
But since my wife was around 8/24 and wouldn’t be under 5/24 for another year I decided to apply for this card.
Referral
If you’d like to apply for the card, you can get the best offer and a friend can get 10,000 points for referring you.
Once approved you can instantly refer friends yourself. Log into your Chase account to retrieve the last 4 digits then go to: chase.com/referafriend
Here’s my referral link. Thanks in advance if you choose to use it:
Direct Link: Chase Hyatt 60,000
Next Steps
Now I’m free to explore the other great signup bonuses that are out there right now:
- Amex Gold 50,000 + 4x at grocery stores
- Heightened bonuses on the Hilton cards that you can refer your spouse for
- CNB Crystal 75,000 that’s packed with benefits
What do you think? Are you giving up on 5/24?
Funny you should mention it, I just got under 5/24, applied for both Ink (got denied) then United Business (got denied) and then said forget it might as well do the 60K Citi Premier again and reset that clock. Then I got a targeted offer for 60K Amex Plat w/no language so I figured might as well jump on that too. I will be under 5/24 again in January but I am wondering if I should just blow it out and hit up a bunch of stuff. I really don’t want to touch Chase reconsideration these days and if they’re not going to give me the good cards then what am I waiting for?
I think you pretty much nailed it here, Kelly.
You starve yourself to get to 5/24 and even that doesn’t ensure approvals.
Thanks for the datapoints.
Depending on your destinations and priorities, Hyatt can be one of the best options for “free agents” who are not chasing status. Their award chart is more favorable than Marriotts’ or Hiltons’ in many destinations. A free agent can buy some of the perks of status at Hyatt for relatively small amounts of additional points. (Club level upgrades can be had for about 300 points).
Globalist status seems to be one of the toughest to get. 50-55 nights a year is a steep requirement for all but the most frequent road warriors. Hyatt’s limited footprint makes that even tougher. Five nights of credit isn’t much help.
But for people who cannot realistically come close to qualifying for Globalist, the 60,000 point signup bonus still seems to be a significant value.
Or you could just make friends with people with Globalist status, transfer your Hyatt points to them to book GOH bookings, and get Globalist benefits as a free agent for all your Hyatt stays anyway?
It’s actually pretty darn liberating to make the move to ignore 5/24, isn’t it? I was planning to wait until I was under in March, and last month decided that Chase should kick rocks w/5/24…so happy to have a new Ameriprise Platinum and WOH card. I somehow feel accomplished.