I will use this thread for my experience regarding using gift cards at Hyatt.

I bought at a Hyatt hotel directly some gift cards which do not qualify for any points earning. That's obvious.

When using it now twice in that hotel in the restaurant with my WOH number added it did not earn any points. According to the T&C this should be correct and was confirmed by the F&B department afterwards via email.

I am shocked that Hyatt is the only major program that doesn't honor any points by paying with a gift card. So you can spend a lot of bucks with them not getting anything back.