Update 2/18/15: According to a Mommy Points/Hyatt Concierge conversation on Twitter, you can get the Hyatt card now and register for the promo by March 31, and you’ll get a 20% rebate on all awards. You’ll even retroactively get 20% back on the awards between now and when you register. Sweet!

If you were a Hyatt credit card holder as of January 31, 2015, you can get a 20% rebate on the points needed for award stays completed by July 31, 2015 by registering for this promotion.

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The 20% rebate on the points needed for award stays applies to free nights, points + cash nights, suite upgrades, and dining and spa redemptions. The 20% rebate does not apply to other redemptions of points like exchanging them for airline miles or car rentals. Here’s the chart before the 20% rebate. Now Category 1 hotels drop to 4,000 points per night at Category 7 drops to 24,000.

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Three thoughts on the promotion:

  1. Thanks, Hyatt and Chase!
  2. You have to have all the points already in your account for a full-priced stay because this is not a 20% discount at the time of booking, it is a 20% rebate that posts 4-6 weeks after your completed stay. A 20% discount would be a little nicer, but the 20% rebate keeps us more engaged because we’ll end up with points in our account instead of zeroing out the balance.
  3. This makes points + cash nights a worse deal.

While free night awards are available whenever a standard room is for sale, points + cash nights are capacity controlled award nights where you pay half the points of free night plus a cash copay. I think of that cash copay as re-purchasing half my points as compared to a free night award. The cost to re-purchase points on a points + cash stay is 1.2 to 2 cents per point, with the best deals at Category 3-6 properties.

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This rebate is a 20% rebate on the points needed for free nights and points + cash stays, but no rebate on the cash copay. That makes the cost to re-purchase your points higher. During the promotion, it will range from 1.5 to 2.5 cents. I’ve never made a points + cash booking with Hyatt points anyway–only free nights–and this promotion makes me less likely to make a points + cash booking for a stay before July 31.

I’m registered for the promotion. I don’t have a lot of Hyatt points, but I do have a lot of Chase Ultimate Rewards, which transfer 1:1 instantly to Hyatt points. I’ll consider this promotion if I need a hotel stay, though I generally prefer airbnb and using points from my Club Carlson Premier Rewards Visa Signature Card, which offers 85,000 bonus points after spending $2,500 on the card in the first 90 days and the last night free on all award stays of 2+ nights.

Full Terms and Conditions:

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