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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.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.