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Why I cancelled the Hyatt Visa Signature from Chase
I’ve had the Hyatt Visa Signature in my wallet for 3 years now. I originally signed up because of the offer of 2 free nights after first purchase – it came in great at the Park Hyatt Chicago and Grand Hyatt Singapore. After that I’ve basically kept it in my wallet for the sole purpose of the free annual night certificate and platinum status within the brand. I’ve put very little spend on the card, actually only when I would stay at a Hyatt property, but now even the 3x points earned that way can be matched with the Citi Thank You Premier card which earns 3x on all travel. I’d value the Citi Thank You points higher than Hyatt points solely because they are flexible. So I wouldn’t even be using it to stay at their own properties. So it begged the question…. Why am I keeping the card?
I also feel like Hyatt devalued their Platinum status considerably when they made Wifi free to all guests ( as this used to be quite a nice cost savings for Platinum members ), so now the residual benefits are a possible room upgrade, 15% bonus points, and 2pm check out when available. I think these are all great benefits to have, but I also recently qualified for Diamond status through 02/2017 through a challenge and get more benefits from that status than I do from the card. So this leaves only the free night.
So Why am I keeping the card??
Time to take action:
- My annual fee hit on September 1st and I called into ask in August about any retention offers. None
- Nothing at all? The only response I got was that I was Diamond and that carried a lot of benefits. Well…yes, this is true, but the card has nothing to do with this. Can you waive the fee or offer me bonus points? Nope…
So I let my free night award credit to my account, paid the annual fee, moved the credit balance over to my IHG card and cancelled the account. Maybe in the next year and half I’ll revisit his card as I do highly value the annual free night, and also with Chase’s new rules I can reapply for the card and receive the new member bonus again…2 free nights anywhere for 1,000 in spend. NOT BAD!
End of the story…card is cancelled and my wallet is trimmed down without losing any of my total line of credit.
Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers
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