This past May, a few bloggers and myself participated in challenge towards spending $20,000 on the AMEX Platinum card with the best efficiency and effectiveness. There was some heat about my numbers when I completed the challenge for spending money to manufacture spend the $20,000.
I posted that for $25, I could spend $10,000 and I helped many readers on how they were able to accomplish that. During the challenge, I outed a method because there was a shift in policy in how Target handled resellers and the deal was dead to gift card churn.
Today, I am sad that I will be outing the second method, the $25 for $10000.
Before I even out the method, I recently had this exchange with a friend and I laughed so hard I had to wipe away tears from my face.
I don’t have a secret sauce
I told you all my secret sauces
So they are just sauce now
So this secret sauce, now known as the sauce, is going to die come January 1, 2016. In order to maximize the deal, you had to have an American Express business card with the Open savings set as cash back. There was a coupon floating around for 10% off Hyatt gift cards and when you stack it with the American Express business card you were buying the cards close to 85% in value. This is why it was capped at $10,000. If it weren’t, I would have spent the entire $20,000 in Hyatt cards alone.
Effective January 1, 2016, Hyatt Hotels & Resorts®, including Park Hyatt®, Andaz®, Grand Hyatt®, and Hyatt Regency® hotels, will no longer be part of the OPEN Savings program. Any amounts that are charged to your Card account by this merchant on or after this date will not be eligible for the OPEN Savings benefit.
When the 5% goes away, expect the discount rates for Hyatt to lower and the exchanges will raise the rates at which they will buy because the market will tighten up a bit.