175,000 points. That's the number sitting at the top of your screen right now if you open the Hilton Honors Amex card page today. It's not a typo, and it's not a teaser rate buried in fine print. It's the actual welcome offer, and it ends July 29.

But that's not even the biggest news this week. Amex quietly dropped something that changes how sports fans think about their Membership Rewards balance. Let's get into it.

How many properties did World of Hyatt move to a HIGHER award category in its updated 2026 award chart?

The answer is near the bottom of today's newsletter - keep scrolling. 👇

American Express and Fanatics are building something bigger than a credit card partnership. The two companies announced a sweeping deal that includes a brand-new Fanatics American Express Card launching later this year, expanded perks at Fanatics events and retail locations, and - the part that matters most to this community - plans for Fanatics to become a full Membership Rewards transfer partner.

That last piece is still "plans" rather than live today, but the direction is clear. Amex is adding a major sports-and-collectibles ecosystem to the Membership Rewards transfer menu, and that opens up redemption pathways for people who genuinely spend money at Fanatics properties. Think licensed gear, sports memorabilia, ticketing events, and retail exclusives.

Whether Fanatics points will be genuinely valuable for award redemptions remains to be seen - transfer partner value depends heavily on redemption rates that haven't been published yet. But the signal here is that Amex is broadening the tent. If you're a sports fan who already earns Membership Rewards, this is worth watching closely as the card launch date gets closer.

Let's talk about the Hilton Honors Amex card offers that are live right now, because the numbers are genuinely strong. The top-tier offer on the table is 175,000 Hilton Honors points, and select cards are also waiving the intro annual fee for the first year.

Hilton Points Calculator to run the math on specific properties you're targeting before you apply.

There's also a 100% bonus on purchased Hilton points running right now at 0.5 cents each, but that window closes May 29 - just one week away. If you're short on points for a specific redemption you've already identified, this is one of the better buy-points moments Hilton has offered this year.

We touched on Hyatt's pricing overhaul earlier this week when the changes went live on Wednesday, but now that the dust has settled and the new award chart is fully published, the first impressions are in - and they're not great. A total of 112 properties shifted to a higher category, while only 24 moved down.

The program expanded from three pricing tiers to five, but don't let that sound like a good thing. In practice, properties that previously sat at the top of a lower category have been pulled into new higher tiers, and the cost increases at some properties are as steep as 67%. That's a significant jump for any redemption you've been planning around older pricing.

If you want to find the most efficient path for your Hyatt points right now, our Hyatt Points Calculator can help you evaluate whether a given property still makes sense at the new rates.

The Chase to Hyatt transfer path is still worth considering if you're targeting one of the 24 properties that moved DOWN in category - those are the hidden wins inside an otherwise painful update.

Two transfer bonuses worth knowing about before the weekend. The Chase Ultimate Rewards to Air France KLM Flying Blue 20% bonus runs through May 27 - that's Tuesday. And separately, Rove Miles to Air Canada Aeroplan is offering a 25% bonus through June 6.

The Flying Blue window is the one to act on quickly. If you've been sitting on Chase points and have a Flying Blue redemption in mind - particularly for premium cabin award flights within Europe or across the Atlantic - this bonus effectively lowers your cost by 17% on the transfer side. Award Travel Finder has been tracking some strong Flying Blue availability this month if you need help finding open seats before committing points.

Full details on all active transfer bonuses are tracked in real time on our transfer bonuses page - worth bookmarking if you move points regularly.

One conversation that comes up constantly in reader emails: is it worth holding more than one premium card with a hefty annual fee? The math actually works in favor of two cards for a specific type of traveler. The combination of the Capital One Venture X (at $395 per year) and the Amex Platinum (at $895 per year) creates a coverage map that neither card fully achieves on its own.

The Venture X covers Capital One Lounges plus Priority Pass. The Amex Platinum adds Centurion Lounges, Delta Sky Club access on Delta flights, and a deeper set of travel credits. For someone who flies multiple airlines regularly and values lounge access across different terminals, the overlap is smaller than it looks - and the combined credits can offset most of the combined $1,290 annual cost if you actually use them.

Not sure if the Amex Platinum makes sense at that annual fee? We have a full breakdown at our Is the Amex Platinum Worth It? page that walks through the credits one by one.

Cash airfares are up 24% year-over-year for summer travel searches right now, according to new data from Points Path. That's a meaningful spike, and it makes the argument for using points on summer flights stronger than it's been in a few years.

If you're comparing whether to pay cash or burn points for a summer booking, the math shifts significantly when cash fares are inflated. Friday Flight Deals is also worth a look if you want to see whether any cash deals are beating the points math on specific routes - sometimes a $300 fare is still a better use of your cash than a points redemption that costs 40,000 miles.

The answer is 🅲 - 112 properties. World of Hyatt moved 112 properties to a higher award category in its updated 2026 award chart, while only 24 moved down. With the shift to a five-tier pricing structure, the net impact is a meaningful increase in award costs across much of the portfolio. If you were targeting a specific Hyatt property, it's worth checking the new chart before your next transfer.

With Hyatt's new award pricing now live and costs up at over 100 properties - are you still using Hyatt as your go-to hotel program, or has this pushed you toward Hilton or Marriott? Hit reply and let me know - I read every response and I'm genuinely curious how this lands with you.

That's the Friday edition. The Fanatics-Amex partnership is the one I'll be watching most closely over the next few months - transfer partner value lives or dies on the redemption rates, and we'll know a lot more when the card actually launches. Have a great weekend.

- Jack

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These are the top credit card welcome bonuses we're tracking. Offers change frequently - see all cards.

1. The Platinum Card: 175,000 points after spending $12,000 in 6 months ($8.95/yr)

2. Hilton Honors American Express Aspire Card: Earn 150,000 Hilton Honors Bonus Points after you spend $4,000 on purchases in y... ($5.5/yr)

3. Chase Sapphire Reserve: 150,000 points after spending $6,000 in 3 months ($7.95/yr)

Whether you're spending hotel points or airline miles, these are the standout deals right now via Award Travel Finder:

Hotels:

Status Matches & Challenges:

• Flying Blue Status Match - Air France / KLM | SkyTeam

• Flying Blue UK (BA Status Holders) - Air France / KLM | SkyTeam

• Flying Blue (Iberia) - Air France / KLM | SkyTeam

Live Transfer Bonuses:

Buy Points & Miles Deals:

Full live tracker → milesandpointsdaily.com/buy-points-promotions

Browse every award deal we track at AwardTravelFinder.com →

Friday Flight Deals finds the best flight deals when paying cash beats using points.

Browse all deals at FridayFlightDeals.com →