Tired of this credit card point game after two decades. Now settled to BofA PRE and seriously considering closing most of other cards. Currently hold 5 UR cards with P2, with about 600K UR points. I will close my CSP when AF hits for sure, but not sure if it’s a good decision to dump all of them to Hyatt.
I travel a lot for work, so the points are only for family vacations (twice a year). When traveling for work I mostly stay at Marriott properties so I also have a lot of Marriott points to burn. That said, not a loyal Hyatt customer at all. But since Hyatt has the best point value for UR transfers, it seems to be the only option that can give UR a decent value. In other words, if not Hyatt, then what?
I appreciate your insights.
Am I Crazy to Transfer 600K UR to Hyatt All At Once?
byu/Geeeeeeeeeeeeee inCreditCards
Posted by Geeeeeeeeeeeeee
5 Comments
Annual fee is $95 bucks. You can’t hold the card considering you’re sitting on 600k UR instead of doing a speculative transfer?
Wut? 5 UR cards and you won’t keep any of them while you find a redemption? Keep a freedom and upgrade it back when you’re ready to use some common sense. Or just cash out.
I shouldn’t have to look things up to decode your message. On the right side panel, there is a list of some common abbreviations (Abbreviations & Lingo…AF = Annual Fee; AU = Authorized User; BT = Balance Transfer; CLI = Credit Line Increase; FTF = Foreign Transaction Fee; PC = Product Change i.e. upgrade; SUB = Sign-Up Bonus; TCL = Total Credit Limit) so those are all fair game. But UR for Chase points, PRE for preferred rewards elite, P2 to refer somehow to your wife, I think can be spelled out, so that you can be understood better.
Now to the answer to your question: you are getting out of the game, as you say. Just because Hyatt will give you the best deal, doesn’t make it the best choice. I have bought a whiskey that was FAR MORE expensive (relative to another whiskey I could have bought), because I liked it better. If you like a different hotel better, and can enjoy your family vacations more somewhere else, you shouldn’t feel limited to only Hyatt, just because that’s the best deal. Especially on luxury items, the most logical and economical is often not the correct decision matrix.
Whole things seems off. Your post history has you chasing subs for $250, trying to move credit around for Amazon sign ups, reapplying for cards you’ve had. And now you’re looking to just go cash back having just had the CSP for less than 6 months.
Transferring 600k points without a plan to use isn’t ideal. Once you transfer those points, you lose flexibility. How do you know you will like Hyatt for long, or Hyatt points won’t depreciate dramatically.
If you are sure you do not want to EARN more UR points, I suggest you
1. Transfer some UR points to HYATT for cover 2-3 years of potential redemption.
2. transfer other points to one freedom card, leave it open.
3. Close all other UR cards, esp. those with AF.
4. once you redeem all the Hyatt points in the future but want to redeem more, upgrade the freedom to CSP for $95