Two major loyalty programs are changing on the exact same day. May 20 is four days away - and if you have Emirates miles or Hyatt points sitting idle, today is the day to act.

Let's start with the one that affects the most readers right now.

Which airline loyalty program is changing its classic award costs on May 20, 2026?

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

Emirates Skywards has updated its mileage calculator to reflect new award costs for bookings starting May 20, 2026. Classic reward flights - the bread and butter of Emirates redemptions - are getting more expensive across the board. The timing is eyebrow-raising given the current travel environment, but here we are.

The window to book at existing rates is closing fast. If you have Emirates Skywards miles and a trip in mind, pulling up the calculator before May 20 is not optional - it's essential. The new rates apply to bookings made from that date, not travel dates, so even flights months out will cost more if you wait.

If your balance is a bit short, there's currently a 35% discount on buying Etihad miles (through May 24) and Flying Blue is running an 80% bonus on purchased miles through May 31 - both of which can be used as alternative carriers on some of the same routes. Worth exploring before Tuesday.

You can run the numbers on your specific route using our Emirates Miles Calculator to see exactly what today's rates get you versus what you'll pay next week.

On May 20 - the same day Emirates changes its award costs - World of Hyatt is retiring its three-tier pricing model. The current system of Off-peak, Standard, and Peak pricing gives way to a five-level model: Lowest, Low, Moderate, Upper, and Top. Hyatt is keeping its eight award categories intact, but the pricing layers within each category are expanding significantly.

What this means in practice: properties that currently sit at off-peak pricing could land at Moderate or Upper after the switch, even if the underlying category doesn't change. If you've been eyeing a specific Hyatt property, checking today's off-peak rate and booking before May 20 could save you a meaningful number of points per night.

The action here is simple. Pull up your target property, check if an off-peak rate is available before May 20, and make the booking. Hyatt allows free cancellation on most award bookings, so there's very little downside to locking in now and adjusting later if plans change.

Award Travel Finder has been tracking available off-peak Hyatt award nights this week - worth a check if you need help spotting availability across specific markets.

A reader named Heather recently shared a mistake that I suspect a lot of Chase Sapphire Reserve cardholders have made - or are close to making. She tried to use the card's hotel booking credit but ended up losing the $250 benefit because of a single misstep in the booking process.

The Chase Sapphire Reserve includes a $50 hotel credit per stay when you book through the Chase Travel portal. The catch that trips people up: booking outside the portal - even at the same property, even at the same rate - doesn't trigger the credit. Heather booked directly with the hotel thinking it would qualify. It didn't. The $250 in total credits she was counting on disappeared.

It's a painful reminder that portal-tied benefits only work when you actually use the portal. If you're planning hotel stays and counting on that credit, double-check your booking source before confirming. The portal sometimes costs a few extra dollars, but against a $50 per-stay credit, the math usually favors it.

If you're still deciding whether the Chase Sapphire Reserve is worth the annual fee, we have a full breakdown here.

Here's a question I see come up regularly: if you already have a United co-branded credit card like the United Quest, how much additional value does earning Premier Silver status actually add? The answer is more nuanced than most people expect.

The Quest card already covers free checked bags, priority boarding, and expanded award availability - which is a large chunk of what entry-level elite status delivers. But Premier Silver adds complimentary upgrades to the mix, which the card alone doesn't provide. It also unlocks PlusPoints and better systemwide upgrade availability for longer-haul routes.

The practical takeaway: if you fly United 5-10 times per year and already have the Quest card, chasing Premier Silver is worth it primarily for upgrade potential. If you're flying less than that, the card alone likely covers most of what you need. Use our United Miles Calculator to see whether your current balance points you toward card-based redemptions or status-based travel.

Park Hyatt finally has a foothold in Mexico. The Park Hyatt Cabo Del Sol opened its doors in December and is now fully operational, sitting alongside the Four Seasons in one of Cabo's most upscale resort developments. For Hyatt loyalists who've been waiting for a reason to burn points south of the border in a Park Hyatt property, this is it.

The timing is notable given that Hyatt's five-tier award pricing kicks in on May 20. If you can get a booking in at the current off-peak or standard rate before Tuesday's cutover, you'll be locking in rates that may not exist by next week. The property is new enough that pricing hasn't fully settled - which historically means earlier bookings tend to catch better redemption windows.

Friday Flight Deals tracked several cash fares to Cabo this week that pair well with a points-based hotel stay if you'd rather spend miles on the room and cash on the flight.

Two things align this week that rarely happen at the same time: Air France-KLM Flying Blue is selling miles at an 80% bonus (through May 31) at roughly 1.69 cents per mile, and Chase Ultimate Rewards is offering a 20% transfer bonus to Flying Blue through May 27.

That's two separate ways to top up your Flying Blue balance before summer. The transfer bonus is the more valuable path if you already have Chase points - you're essentially getting 20% more miles for free. The buy offer is worth considering if you're close to a specific redemption and need to bridge a gap.

Full details on all current buy points offers are tracked at our buy points promotions page, updated in real time.

The answer is Emirates Skywards. The program updated its mileage calculator to reflect new classic reward costs for bookings made on or after May 20, 2026. If you guessed it, you've been paying attention - and you have until Tuesday to book at current rates.

A few time-sensitive items worth acting on this week:

Hyatt's award chart is about to get more complicated. Do you book Hyatt awards proactively when a devaluation is coming, or do you tend to wait and see how the dust settles? Hit reply and let me know - I read every response and I'm genuinely curious how readers approach this.

May 20 is shaping up to be a rough day for loyalty program value. Emirates and Hyatt changing on the same date is unusual - but it also means the next three days are genuinely worth your attention. Book what you've been sitting on.

- Jack

A real US flight runs today. Pin the airport on the map, then guess the route in 5 tries. Wordle for plane geeks.

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

1. Business Gold Card: 200,000 points after spending $15,000 in 3 months ($375/yr)

2. The Platinum Card: 175,000 points after spending $12,000 in 6 months ($895/yr)

3. Chase Sapphire Reserve: 150,000 points after spending $6,000 in 3 months ($795/yr)

The Award Travel Finder team has been tracking these redemptions - here's what stands out:

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 →