It appears that Hyatt may finally be on the verge of introducing a credit card partnership. This has been rumored for years, it’s been seriously examined and worked on at Hyatt for years, and the chatter out of Hyatt’s offices has really picked up the past few months.

Hyatt has been the only major chain without a credit card partner, although it is and has been possible to earn Hyatt points via credit card spend (Diners Club).

There’s a current thread on Flyertalk discussing a survey about potential mixes of benefits for a Hyatt co-branded credit card.

It’s naturally likely to come with a signup bonus and bonus points for Hyatt spend.

Other possible benefits include:

Confirmed suite upgrades, possibly valid on award stays not just paid stays (which makes sense, since card spend earns points for award stays).

An airline lounge pass with each Hyatt award redemption.

Diamond status after spending $50,000 on card

Free breakfast, Internet, and Resort Fees on award stays. (Diamonds already get breakfast, and Diamonds and Platinums get internet now.)

Special redemption options like borrowing points and stretching the value of points through cash and points award combos.If they do Diamond status based on spend, I’ll grab the card without a doubt. Especially since my Hilton Diamond based on credit card spend was extended through March, 2012 instead of expiring in 2011. (That seemed like a silly decision, which mirrors the experience of other Hilton Surpass Amex Diamond members, since it means I can stick the card in a drawer for 2010 since I don’t need to requalify for status.)

Update: It will be a Visa issued by Chase.  Details to come…