I opened the Chase Hyatt Business for the single purpose of meeting the Globalist status by credit card spending (https://awardcracker.com/my-2024-hyatt-globalist-strategy/).
Meeting the Hyatt Globalist requirement with stays + credit card spending
While you can earn 2 nights for every 5K spent on a Hyatt Personal credit card (4 nights for 10K), the business Hyatt card earns 5 nights for every 10K spent. For example, you can meet the Hyatt Globalist requirements by spending 120K that earns 60 nights. Any Hyatt hotel nights you end up staying at to enjoy your Globalist status will be added to the total count.
In my case, I have already booked Hyatt stays for about 30 nights and I have 5 free nights from holding the Hyatt personal card (I just need 25 nights from spending 50K on business Hyatt card). My goal is to reach 100 nights in 2024 to get a second category 1-7 certificate along with a free Miraval extra night award.
Slow processing of Chase credit card payments
Amex and Citi Bank will instantly release your available credit line after a payment is made (before withdrawing from your bank account). Capital One takes 2 days to do so which is reasonable (https://awardcracker.com/meeting-30k-spend-on-venture-x-business-card/). Chase is extremely slow to instate the available credit line after the bank payment. It typically takes 4 days after the payment date and 4 days after the funds are withdrawn from the bank account.
For example, I made a payment of 12K on Feb 5th, but my available credit has not been released when I checked on Feb 9th (see images below). The funds have been withdrawn from my bank account on Feb 6th.
My 2024 Chase Hyatt Business card spending
I finished spending 50K on the Hyatt card before the end of February 2024 (see image below) since I have several Hyatt award stays coming up in March. I am losing around $6 for every $1000 spent, which would be a total of $300 after 50K spent on the Hyatt business card (https://awardcracker.com/new-changes-to-simon-mall-gift-cards/). I will also end up getting 50K Hyatt points which are easily worth much more than $300 in bookings.
Chase Hyatt Business card 10% miles bonus
The Chase Hyatt business card offers a 10% miles bonus with a cap of 20,000 bonus miles (earned on a total of 200,000 Hyatt points redeemed) for each calendar year.
While it may seem attractive, this benefit has several important caveats:
- It only kicks in after you spend a total of $50,000 in a calendar year (January 1st to December 31st).
- You will receive a confirmation email (with the subject “Your Business is Booming”) from Chase after completing the 50K spent on the business credit card.
- Your completed Hyatt award bookings for the remaining calendar year will receive 10% points refunded (cap of 20K points).
- You don’t have to make new bookings after the 50K spent on the business credit card. You are only required to complete the stay.
Hyatt Business Credit Card $50 statement credit per qualifying Hyatt purchase
- This benefit is offered up to 2 times each anniversary year (for a total of $100).
- Based on my experience, it is better to charge everything to the room and pay the bill with the Hyatt Business card to trigger the $50 credits.
- The hotel must be owned by Hyatt (not SLH property) for the credits to work properly.
- You can use the card twice during the same stay on two different occasions to settle the bill you have accumulated.
- Buying Hyatt gift cards at the Hyatt hotel front desk as a non-guest is another option to trigger the $50 credit (if you are not planning Hyatt hotel stays).
I noticed that the hotel credit will be triggered promptly when the hotel name is clearly mentioned in the bill (see the image below).
I made other purchases at Secrets Bahia resort in Spain which did not trigger the credits since the bill was charged under “reception” and the second charge was at a store inside the hotel (see image below).
Summary
The Chase Hyatt business card is only useful in the long run if you are planning to meet the Hyatt Globalist requirements by mixing stays with credit card spending. The card has two important benefits that help to offset the annual fee (10% miles bonus is a calendar year benefit and $100 statement credit is an anniversary year benefit). The credit card is easily worth the annual fee if you manage to get 20K points bonus along with $100 property credit. I will update this post with my Hyatt business card credits once I receive them.