Following Hyatt’s announcement of new benefits for Diamond members, they’re out with something for co-brand credit card holders as well.
Here’s how it works:
- Register by March 31
- Redeem any time by — and complete your stay by — July 31, 2015
- The rebate will post 4-6 weeks after redemption.
Nearly all redemptions are eligible, and there is no limit. That makes those expensive category 7 awards normally 30,000 points per night just 24,000 points (it’s almost like turning back the clock and pretending category 7 didn’t exist). It makes those category 7 suites 38,400 instead of 48,000.
Category 7 Park Hyatt Sydney – Save 6000 Points Per Night
You can also use it on cash and points awards (you get 20% of the points — but not 20% of the cash component — back), spa and dining (never a good idea to burn your points this way) and upgrade awards.
The only redemptions you won’t get a rebate on are airline mileage transfers and car rental certificates.
The only catch? This is for existing Hyatt co-brand cardmembers only, it isn’t a promotion that new applicants would be eligible to take advantage of. Presumably they don’t want someone signing up just to get this bonus, transferring a ton of Chase points into their Gold Passport account, and maybe getting the equivalent of an extra 100,000 point signup bonus (on a 500,000 point transfer).
Another nice reason to be a Hyatt cardmember. I have the card, I keep the card (the annual category 4 free night is worth more than the card’s $75 annual fee), though I don’t think it’s an especially strong earner for ongoing spend for most people.
Sky lobby at the Grand Hyatt Kuala Lumpur, where you can save 3000 points per night
Now, I don’t actually have more award nights to book, but this will:
- Tip the scales towards cash and points where available on my paid bookings.
- Encourage me to gift some award nights, given Hyatt’s new benefit where Diamonds booking awards for friends gift ‘Diamond for a stay’ to those friends
- Cause me to try to cancel and rebook some existing awards.
How will you play this?