Time is running out if you have a Chase credit card with a transfer ratio to Hyatt that changes from 1:1 to the new 4:3 ratio on Oct. 1. Impacted cardholders include those who opened the Chase Sapphire Preferred® Card (see rates and fees) before June 15, as well as Ink Business Preferred® Credit Card (see rates and fees) cardholders.
We’ve done some in-depth coverage on whether you should transfer points to Hyatt before the change, which is worth a read if you’re really on the fence about making a speculative transfer.
But if you want the short version on whether to transfer points to Hyatt before Oct. 1, here are the main things I’d consider — and what I’d do in some common situations.
- If you have a Chase Sapphire Reserve® (see rates and fees) or Chase Sapphire Reserve for Business℠ (see rates and fees) that is keeping the 1:1 ratio — or you plan to get one in the coming months — there’s no need to make a speculative transfer. You can combine your other Chase Ultimate Rewards points into that account and use its 1:1 Hyatt transfer ratio.
- If you’ve never redeemed points with Hyatt and don’t have at least a penciled-in plan to do so in the next 18 months or so, I wouldn’t transfer your points. Hyatt points expire after 24 months without qualifying activity, and once you transfer Chase points to Hyatt, you can’t move them back.
- If you periodically redeem points with Hyatt — say, at least once or twice a year — and don’t already have a large World of Hyatt balance, I’d consider moving at least some points now. You have a track record of putting Hyatt points to work, and transferring the same number of Hyatt points will soon cost you more Chase points.
- And, perhaps easiest of all, if you already have a specific Hyatt redemption in mind, I’d transfer what you expect to need before the ratio changes. There’s little reason to knowingly wait and spend 33% more Chase points for the same award after Oct. 1.
In other words, if you have at least a rough plan to use Hyatt points — or a strong history that indicates you’ll probably need them within the next year or so — I’d consider speculatively transferring at least some of your Ultimate Rewards points before the ratio changes.
After Oct. 1, you’ll need to transfer 33% more Chase points to get the same number of Hyatt points if your card’s ratio drops from 1:1 to 4:3. For example, 60,000 Hyatt points currently require 60,000 Chase points for accounts with a 1:1 ratio. At a 4:3 ratio, you’ll need to transfer 80,000 Chase points for the same 60,000 Hyatt points.
On the other hand, if you’ve never redeemed points with Hyatt and don’t have at least written-in-pencil plans to use the program in the next 18 to 24 months, I wouldn’t transfer points before Oct. 1 just because the ratio is changing.
Chase Ultimate Rewards points are more flexible while they’re still with Chase. You can use them through Chase Travel℠ to take advantage of Points Boost or transfer them to another partner rather than locking them into a program you may or may not end up using the way you thought.
But if you know you want to transfer Chase points to Hyatt at a 1:1 ratio from a card that’s changing to a 4:3 ratio, now is the time.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
Source: thepointsguy.com
