Hyatt has extended its credit card offer for double elite qualifying nights

Update: Some offers mentioned below are no longer available. View the current offers here – The World of Hyatt Credit Card

The COVID-19 outbreak has caused an unprecedented level of disruption on the travel industry and is forcing companies to get creative to encourage future trips and increased loyalty.

One of those companies is Hyatt. The hotel chain has announced that it will extend its limited-time offer to double the number of elite-qualifying nights for new applicants of The World of Hyatt Credit Card. With flexible change and cancellation policies, elite status extensions, and other positive World of Hyatt news, it's still a good time to apply. Here's why.

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Bonus for new card holders

The World of Hyatt Credit Card is rewarding new applicants with extra qualifying nights just for getting the card. Through Aug. 31, 2020, new World of Hyatt Credit Card holders will automatically get 10 qualifying night credits — double what is usually offered.

New applicants will also earn up to 50,000 Hyatt points — 25,000 points after you spend $3,000 in the first three months, plus an additional 25,000 points after you spend $6,000 total within the first six months of account opening. Those bonus points are worth a respectable $850, based on TPG valuations.

Related related: 5 reasons why I applied for the World of Hyatt card during the pandemic

The card comes with a $95 annual fee, which you can easily recoup when you redeem the anniversary free night, valid at Category 1-4 hotels. Just note that you won't be eligible to earn the bonus points if you've earned a sign-up bonus on a Hyatt card within the past 24 months.

Related reading: Best uses of Hyatt free-night certificates

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Elite nights for existing card holders

The World of Hyatt Credit Card holders earn two elite-qualifying nights for every $5,000 spent on the card. This is in addition to the five qualifying nights you get each year just for having the card. (As mentioned, this is now temporarily 10 qualifying nights for this status year if you apply for the card through Aug. 31, 2020.)

There's no cap to the qualifying nights, so you can theoretically "buy" top-tier Globalist status without any stays. There's also no registration required in order to participate.

Aside from boosting your The World of Hyatt elite status, this bonus is an easy way to fast-track Milestone Rewards like confirmable suite upgrades, club lounge access awards, free-night certificates and access to My Hyatt Concierge.

Related reading: How I earned Hyatt Globalist status for $0 out of pocket

Should you charge everyday spending to the World of Hyatt Card?

It's always important to consider the opportunity cost before putting a significant amount of spending on a card simply to earn elite status. The World of Hyatt Credit Card offers 4x Hyatt points per dollar spent on purchases at Hyatt properties; 2x points per dollar on restaurants (including takeout and delivery orders), local transit and commuting (including rideshares), airfare and fitness club/gym memberships; and 1x point per dollar on everything else. It also provides a second Category 1-4 award night after spending $15,000 in a cardmember year.

Right now, the two categories that are likely the most relevant to you are restaurant and non-bonus spending. While it's certainly possible to earn more on your dining and non-bonus expenses with other cards, at 1.7 cents apiece, Hyatt points are the most valuable hotel points according to TPG valuations.

Putting extra spend on the card for the sake of this bonus may be worthwhile depending on your situation. For instance, it could make sense if you're a few nights shy of leveling up to the next status level, or if you could benefit from a higher level of status in 2021, even if your travel will be limited this year.

Related reading: Should you buy hotel or airline elite status?

Is The World of Hyatt status worth it?

The World of Hyatt Credit Card and old Hyatt Credit Card already provide automatic Discoverist status in The World of Hyatt program, so this bonus is ideal for those aiming for Explorist or Globalist status. TPG values these status levels at $995 and $5,190, respectively. In practice, you may not get as much value from the status if you don't travel enough organically to earn it.

Explorist status is earned after 30 nights or 50,000 base points ($10,000 in spending) and provides benefits like a 20% points bonus on stays, upgrades to the best available room (excluding suites and rooms with lounge access), Gold status with M life Rewards and AAdvantage elite status offers.

Top-tier Globalist is earned after 60 nights or 100,000 base points ($20,000 in spending) and provides much more valuable perks such as a 30% points bonus on stays, upgrades to suites, club lounge access and/or free breakfast, waived resort fees on all stays and complimentary parking on free night awards. Any elite status earned this year will be valid through at least Feb. 28, 2022.