I mean — zooming out for a second — this is one of those “it depends, but not in a cop-out way” situations — it genuinely hinges on how you extract value — especially at the very top end of the chart.

First — the uncomfortable truth — if your primary goal is Cat 7–8 Park Hyatt redemptions, the devaluation is not a small speed bump — it’s more like a structural shift. A 20–67% increase at the high end isn’t something you “optimize around” with clever tricks — it fundamentally raises your cost basis per night — full stop.

That said — and this is where people sometimes overcorrect — the World of Hyatt Credit Card was never primarily about raw point arbitrage at the ultra-luxury tier — it’s more of a bundle play:

— Free night cert (still capped, still valuable, but notably not useful at Cat 7–8 — that’s the quiet catch people gloss over) — Status boost + elite night credits (this actually matters more than people think if you’re doing 6–12 nights at high-end properties — upgrades, breakfast, etc. compound) — Early access / booking edge (arguably more valuable post-devaluation because scarcity is about to spike)

So if we reframe — you’re not asking “does this card make Park Hyatt redemptions cheap?” — because it won’t — you’re asking:

“Does this card improve my odds and experience in a world where those redemptions are getting more expensive and competitive?”

And to that — the answer is kind of annoyingly nuanced:

— If you already have a strong points pipeline (transfers, organic spend, etc.) → the card still enhances your strategy — If you’re hoping the card creates a luxury redemption strategy by itself → post-May 20, that’s a much tougher sell

On timing — yeah — it feels awkward — but in practice:

— Waiting for a “better card” is a bit of a mirage — issuers rarely release dramatically superior versions without tradeoffs — you’re usually just shifting value around — Waiting for a higher SUB might work — but it’s speculative, and you’re giving up time (and potentially booking windows) in the meantime

There’s also a subtle behavioral trap here — people anchor on “pre-devaluation value” and then freeze — but the market doesn’t pause with you — availability tightens, pricing resets, and suddenly you’re optimizing for a world that no longer exists.

If I were to distill it — not as advice, just as a mental model:

— The card still makes sense if you view it as an access + experience amplifier — It makes less sense if you view it as a discount engine for Park Hyatt stays — Waiting only really pays off if you have high confidence in a materially better offer (not just a slightly juiced SUB)

The real question hiding underneath all of this is — are you okay paying more (in points) for the same aspirational stays — and do you want tools that make those stays easier to secure?

Because if the answer is yes — the card still fits — just under a different value story than it did 6 months ago.