World of Hyatt

The annual Category 1 to 4 free night award is the whole argument for this card: one night at a qualifying Hyatt is routinely worth more than the $95 annual fee, and you get it every year without doing anything but renewing. The current 75,000 point offer is the best it has been in months, since the bonus fell from 60,000 to 30,000 in April before climbing back to 60,000 in June and then 75,000 in July, though the structure is demanding: 45,000 points after $5,000 in the first three months, plus up to 30,000 more earned at 2x on up to $15,000 of spend within six months. Day to day the card earns 4x at Hyatt hotels only, with 2x on dining, airfare booked directly with the airline, transit, and gym memberships, and just 1x on everything else, so it is not a card for general spending. Automatic Discoverist status and 5 qualifying night credits toward elite status are modest but free, and a second Category 1 to 4 free night arrives if you push $15,000 through the card in a cardmember year. Worth it if you stay at Hyatt even a couple of nights a year, hard to justify if you do not.