The Next Premium Chase Credit Card May Be Coming Soon
The travel rewards community is beginning to speculate that a Premium Chase Credit Card may soon be added to the lineup. Chase and Hyatt currently offer co-branded credit cards, such as the World of Hyatt Business Credit Card and the World of Hyatt Credit Card. Over the last two years, the number of cardholders has increased by more than 25% and spending has increased by more than 30% due to the popularity of these cards.
There is, of course, one remaining hole in the Hyatt portfolio that suggests a potential new Premium Chase Credit Card. It might resemble rivals such as American Express’s Hilton Aspire Card or Marriott’s Bonvoy Brilliant Card. Although this is currently only conjecture, the indications suggest that Chase is getting ready to launch another upscale travel option.
Why Getting Another High-End Chase Credit Card Doesn’t Excite Me
I’ve been a devoted travel rewards and luxury credit card user for years, but I’m not excited about the prospect of getting another Premium Chase Credit Card. To be honest, it makes me a little tired of using credit cards.
The Chase Sapphire Reserve update and new United Airlines card versions are just two of the recent additions and changes to Chase’s premium lineup. Each time a new “premium” card is released, it seems like just another pricey coupon book masquerading as a travel card.
The Rising Cost of Premium Credit Cards
Let’s discuss the annual fee creep. It used to seem extravagant to spend $450 on a premium card. Ten years later, many competitors of the Premium Chase Credit Card now charge between $700 and $800 annually.
It no longer makes sense to manage several high-annual-fee cards, even if you travel frequently. It’s acceptable to have one or possibly two premium cards, but more than that is excessive. Particularly if you don’t regularly use travel credits or stay at partner hotels, the costs add up more quickly than the benefits.
The Mental Fatigue of Managing Too Many Premium Cards
The mental strain that comes with a new Premium Chase Credit Card is another reason I’m wary of applying for one. These days, all premium cards have the same structure: a large annual fee plus a number of “credits” that you must manually use all year long.
For instance, you might receive a $100 travel credit, $50 for a streaming service, and $25 for specific restaurants each month. All of these require tracking and remembering to use them before they expire. The procedure gets annoying when several cards are doing this.
You wind up juggling coupon codes and credit expiration dates rather than taking advantage of your travel benefits. The card then begins to control you rather than the other way around. Travel should be made easier with a Premium Chase Credit Card, not more difficult.
The Pundit’s Mantra — Keep It Simple
Please understand that I adore having choices. Regular Hyatt travelers or devoted Chase customers may find a Premium Chase Credit Card appealing. I might give it some thought if there is a substantial welcome bonus and I have a number of upcoming Hyatt stays.
However, I intend to pass on this one for the time being. I currently possess three major cards that are beneficial to my way of life:
I can earn five times as many points on airfare when I book directly with airlines thanks to the Amex Platinum Card.
With a free night certificate and automatic Platinum Elite status, the Marriott Bonvoy Brilliant Card easily pays for itself.
My preferred card for everyday spending and flexible travel rewards is the Chase Sapphire Preferred Card.
I use Chase Freedom cards, which complement my Sapphire Preferred well, for quarterly categories and rotating cash-back bonuses.
Final Thoughts
On paper, a new Premium Chase Credit Card might sound exciting, but for many travelers like me, it might just make things more complicated. The excitement soon wanes due to overlapping benefits, increasing costs, and the increasing difficulty of juggling several travel credits.
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I would prefer to keep my current cards and stay away from another expensive “coupon book” unless Chase offers something really unique, such as streamlined credits, improved transfer partnerships, or a revolutionary rewards structure.
Ultimately, the market benefits from having more options, but not all Premium Chase Credit Cards live up to the hype. Simplifying rather than complicating your wallet is sometimes the best course of action.