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Earning points and miles the traditional method (actually flying or staying in hotels) is just one way to boost your account balance. Fortunately, travel providers make it relatively easy to accrue points and miles without traveling, whether through top credit card offers or by utilizing shopping portals. You can also purchase miles directly, and on the heels of United’s new promotion that offers you a bonus of up to 85% when you purchase miles, Hyatt has just announced a similar offer to purchase points.
Here’s how it works: From now through November 30, you’ll earn a flat bonus of 30% when you buy or gift Hyatt Gold Passport points. The bonus should automatically populate when you visit the program’s site for purchasing or giving points. The usual price for buying or gifting points is 2.4 cents apiece ($24 per 1,000 points), so with this promotion your price drops to ~1.85 cents per point.
Here’s how to take advantage of the promotion:
- Visit Hyatt’s Buy Points link.
- Enter your information, select how many points you want to buy/give and click Continue.
- Enter your credit card information and billing address and click Continue.
- Confirm the details, check the box to agree to the Terms and Conditions and click Continue.
Keep in mind that the usual restrictions for purchasing Hyatt Gold Passport points apply to these transactions, including:
- You must have a positive account balance and have been active in the program within the last 30 days.
- You can purchase points in increments of 1,000 points up to a maximum of 55,000 points per transaction/calendar year.
- The points will post within 48 hours but do not count toward earning Hyatt Gold Passport elite status.
Is this worth it?
In TPG’s most recent valuations, he pegs Hyatt points at 1.8 cents apiece, so this actually brings your purchase price very close to this amount. If you max out the promotion, you’ll take home 71,500 points at a cost of $1,320. Through the promotion, you’re looking at two free nights at a top-tier Category 7 hotel (like the Park Hyatt Tokyo) for roughly $555 per night.
As always, be sure to crunch the numbers to make sure that you’re getting more value out of the redemption than you’d spend purchasing the miles. For more information, be sure to check out Richard Kerr’s Award Traveler’s Guide to Hyatt Gold Passport.
Remember too that there are many other ways to boost your Hyatt account balance (or earn free night certificates). For example, the Hyatt Credit Card currently offers you 2 free nights at any Hyatt property worldwide after you make $1,000 in purchases in the first three months after account opening. The program is also a transfer partner of Ultimate Rewards, allowing you to move points earned on cards like the Chase Sapphire Preferred Card directly to your Gold Passport account.
This promotion likely isn’t for everyone, but if you have a specific redemption in mind, it could make sense to take advantage of it. Hyatt has offered similar promotions in the past, though it’s nice that this one applies to both purchased and gifted points. I’ve gotten a lot of value out of the program (through redemptions like the Andaz Wall Street and upcoming stays at the Park Hyatt Zurich and Andaz London Liverpool Street), though since my account is quite full, I don’t think I’ll be purchasing points this time around.
Will you be taking advantage of this new promotion?
Even after the introduction of the Chase Sapphire Reserve, the Chase Sapphire Preferred is still a fantastic choice if you want to avoid the Reserve’s $450 annual fee, earn 2x on all travel & dining and earn a 50,000 point sign up bonus.
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
- Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards