Got 2,500 Hyatt Points ~ Retention Bonus ~ Hyatt Visa Card

I have the Hyatt Visa Card from Chase.  When I applied for it, the promotion offered was 2 free nights at a Hyatt Hotel.  That is still the promotion (and, I might add, it is a very good promotion!). 

When I got the card, there was a spend requirement of $1,000.  A few months after I got the card, Hyatt removed the spend requirement for new applicants.  Finally,  when I got the card, the $75 annual fee was not waived.

I just read a post on View From the Wing where Gary reported that there is a current promotion for the Hyatt Visa card which includes a $75 statement credit.  For all intents and purposes, the $75 statement credit is a waiver of the first year $75 annual fee.

Since it is almost one year since I got the card, I noticed that the $75 annual fee is listed on my current bill. 

After reading the above-mentioned post about the $75 statement credit, I was a little annoyed that I had to pay the $75 annual fee and fulfill the spend requirement when I got the card, but that new applicants do not have to do so, and yet they get the same benefits as I did when I got the card.

I immediately decided to call Chase Bank.  I spoke to the representative who told me there was nothing they could do.  They can’t waive the fee blah, blah, blah.

I asked to speak to a retention specialist.  I was told that I could only speak to one if I wanted to cancel the card.  I responded with the magic phrase: I am considering it, and I want to explore my options.

Along came Mr. Parker.  It was a bit of a struggle of a conversation.  I explained my frustration and he told me that there was nothing he could do.  I vented a little more (nicely, of course). 

Finally, he said, I can offer you 2,500 Hyatt Gold Points.  I said (in my best “Who Wants to be a Millionaire” tone): Is that your final offer? (Actually, I said: Is that the best you can do?).  Most people value Hyatt gold points at about 2 cents per point, meaning that the offer was worth about $50.  He responded that it was the best he could do, and asked me if that was acceptable to me.  I didn’t think I could press any further, so I said: yes, thank you very much.

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