Hyatt (NYSE: H - News) and Chase (NYSE: JPM - News) today announced a multi-year, strategic alliance that will create the first-ever Visa-branded credit card that allows consumers to earn points through Hyatt Gold Passport®, Hyatt’s global loyalty program that delivers a superior level of service, recognition, and customer experience to its most loyal guests.
Interesting that they've announced the card, yet are still running surveys as to people's preferences in a credit card program. It will be interesting to see what they offer, and the annual cost of the card. Of particular interest is one of the surveyed potential benefits: a defined number of suite upgrades on award (and paid) stays.
According to reports elsewhere on FT, Chase has limited consideration of credit card applications from a specific person to once every six months. With the plethora of hotel and airline cards from Chase these days, folks might have to wait til their last application "ages" before applying for a new card. Lots of us got BA cards from Chase at yearend.
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Quote:
“We chose to align with Chase and Visa because they share our commitment to quality and customer service,” said John Wallis, global head of marketing and brand strategy for Hyatt
Surprised that this will be VISA rather than Mastercard in view of Hyatt's promotional history with Mastercard.
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Quote:
Originally Posted by BlissWorld
Why does it have to be Chase?
Hyatt is headquartered in Chicago. While JP Morgan and Chase Manhattan were New York banks, their affinity credit card business largely descends from the aquisition of BankOne which was headquartered in ... Chicago.
Probably more important, Hyatt's 2009 IPO was underwritten by three banks: Goldman Sachs, JP Morgan Chase and Deutsche Bank AG. Only one of these is a player in the US credit card market.
Hyatt is headquartered in Chicago. While JP Morgan and Chase Manhattan were New York Banks, their affinity credit card business largely descends from the aquisition of BankOne which was headquartered in ... Chicago.
Probably more important, Hyatt's 2009 IPO was underwritten by three banks: Goldman Sachs, JP Morgan Chase and Deutsche Bank AG. Only one of these is a player in the US credit card market.
According to the other threads on here that have discussed the Hyatt credit card, it seems like the decision to go with Chase was made well before the press release.
A relationship with the IB-side surely didn't hurt Chase's chances.
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Quote:
Originally Posted by SanDiego1K
Interesting that they've announced the card, yet are still running surveys as to people's preferences in a credit card program. It will be interesting to see what they offer, and the annual cost of the card. Of particular interest is one of the surveyed potential benefits: a defined number of suite upgrades on award (and paid) stays.
According to reports elsewhere on FT, Chase has limited consideration of credit card applications from a specific person to once every six months. With the plethora of hotel and airline cards from Chase these days, folks might have to wait til their last application "ages" before applying for a new card. Lots of us got BA cards from Chase at yearend.
I noted the short survey-to-rollout interval in the other thread, too, but acknowledge that a survey can be a promotional (rollout buzz) tool as well as a marketing (listening) tool.
And from the FlyerTalk "churning" threads, I've had the impression that the CC-to-CC six-month interval has been around for a while, albeit often not explicit. Divining about it takes up a lot of those threads. One gets the impression that it's a case of a FlyerTalk "We have met the enemy, and it is us..."
Separately, and separately from this consideration, I wish Hyatt hadn't chosen to marry Chase. Chase is several hotel programs' affinity card. I hold with GUWonder that it's already a back foot relationship with the affinity cards, and I add that Hyatt will be the smallest of those programs. Where will be the leverage and the strongest loyalty? Where must it be?
To the divining re what the fee will be, with the changes in laws re credit card terms occurring right now, there's a lot of speculation that the CC companies will recoup their loss by increasing annual fees. Referring back to the "rollout" role, while I didn't get the survey, reports here don't indicate that "$69" was the middle choice.
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Quote:
Originally Posted by BlissWorld
Chase?
Why does it have to be Chase?
Press release says: “We chose to align with Chase and Visa because they share our commitment to quality and customer service,” said John Wallis, global head of marketing and brand strategy for Hyatt.
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this is a stupid question and i think i already know the answer, but do you think it would be possible to get this card as a secured card? im only 21 and have way too much available credit for my income and it is very doubtful that chase will approve me (i had 1 card with them at 5k limit, then dropped to 500, then they cancelled it due to non-use). Is there any way i would be able to just open up an account with them and get the credit card with the same limit of whatever i keep in the account? obviously there is no answer about this cc yet, but has that been possible with other credit cards?
