There's a window open right now that I think closes faster than most people expect - and I mean that literally, since one of today's deadlines is tomorrow.

Three stories worth acting on today: Hyatt's pricing restructure goes live Tuesday, Chase quietly dialed back its Marriott bonus, and the Rakuten-Bilt connection just got a lot more complicated depending on your status tier. Let's get into it.

Quick trivia before we dive in - stay sharp:

When Chase Ultimate Rewards transfers to Marriott Bonvoy at the standard rate (no bonus), how many Bonvoy points do you get per Chase point?

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

This one is genuinely time-sensitive. Hyatt's three-tier award pricing structure - off-peak, standard, and peak - gets eliminated on May 20. That means tonight and tomorrow (May 18-19) are your last two windows to book at the lower off-peak rates before everything collapses into a single dynamic pricing model.

The practical impact depends on when you're traveling. If your trip falls during what Hyatt currently classifies as off-peak dates, you could be looking at meaningfully fewer points required under the old system. Once dynamic pricing takes over, those savings disappear. The time to book is not "soon" - it's today.

Run a quick search on Hyatt's site for your target dates and compare. If you see off-peak pricing for the dates you want, lock it in. Award bookings are generally cancellable, so there's limited downside to booking now even if your plans are tentative.

If you heard about the 65% Chase Ultimate Rewards to Marriott Bonvoy transfer bonus and were waiting to pull the trigger, you just missed the early-bird window. As of this past week, that bonus stepped down to 55% - still active through June 30, 2026, but no longer at the higher rate.

At 55%, you get 1.55 Bonvoy points for every Chase Ultimate Reward point you transfer. The standard rate is 1:1, so you're still getting a meaningful uplift. But here's where it gets interesting: most points experts - including the team at Doctor of Credit - think this still isn't worth doing. Chase Ultimate Rewards points are highly flexible and valuable on their own, and Bonvoy points are notoriously hard to get outsized value from without careful redemption.

The math only works if you have a specific Bonvoy redemption in mind at a property where the Bonvoy price is genuinely compelling. If you're just topping up a Marriott account without a booking ready to go, you're probably better off holding your Chase points.

Want to stress-test your own math before deciding?

A quick but important heads-up if you've been earning Bilt Points through Rakuten cashback. The 1:1 conversion period that was live earlier this month has now ended. Going forward, your Rakuten-to-Bilt conversion rate is tied to your Bilt status tier.

Blue status members will now receive 50 Bilt Points for every $1 in Rakuten cashback. Silver, Gold, and Platinum Bilt members keep the 100 Bilt Points per $1 rate. If you're a Blue member, that's effectively a 50% reduction from the promotional rate - and if you're not aware of it, you might assume you're getting more than you actually are.

The May 15 cashback payment was the last one processed at the flat 1:1 rate. If your next Rakuten payment is coming up and you haven't logged in to check your Bilt status, now is the time. Depending on where you land, you may want to switch back to earning straight cash back from Rakuten instead.

JetBlue is currently running one of the better buy-points promotions in the market right now. Through June 10, 2026, you can purchase TrueBlue points at a 125% bonus, bringing the effective cost down to around 1.43 cents per point.

Whether this is worth doing depends entirely on what you're planning to redeem them for. JetBlue's Mint business class can be a solid redemption - particularly on transcon routes - and if you're short on points for a specific booking, buying at 1.43 cents per point might make sense. But buying speculatively without a redemption in mind rarely pays off.

Check all current buy-points offers - including a 100% bonus on United miles through June 24 and an 80% bonus on Flying Blue through May 31 - over at our buy points tracker.

The American Express Gold Card is celebrating its 60th anniversary this year, and Amex is marking the occasion with a range of targeted offers and limited-time perks for existing cardholders. One notable benefit being rolled out is complimentary CLEAR Concierge access for eligible members.

The specific offers vary by account, so there's no universal list - you'll need to log in to your Amex account to see what's available to you. But if you hold the Gold card, it's worth checking right now. Some cardholders are seeing Amex Offers that can meaningfully offset the card's $325 annual fee.

If you've been on the fence about whether the Gold card earns its keep at $325 a year, the anniversary promotions give you a bit more breathing room. And if you've been thinking about picking one up, this is a reasonable moment to consider it.

A few active transfer bonuses worth weaving into your strategy before they expire. Amex Membership Rewards is offering a 20% bonus to Hilton Honors through May 30 - useful if you're short on Hilton points and have a specific redemption lined up. Capital One Miles to Qantas Frequent Flyer carries a 20% bonus through May 31, which is worth a look if you're building toward a Qantas redemption.

Chase Ultimate Rewards to Air France KLM Flying Blue is also running a 20% bonus through May 27 - that one's interesting because Flying Blue often prices North Atlantic business class competitively, and Award Travel Finder has been spotting some strong availability there recently.

Full list of active transfer bonuses is always up to date at the link below.

The answer: 🔵 1 Bonvoy point per Chase point.

At the standard transfer rate, Chase Ultimate Rewards converts to Marriott Bonvoy at exactly 1:1. The current 55% bonus promotion bumps that to 1:1.55 through June 30, 2026. Which is why most experts still recommend keeping Chase points in the Chase ecosystem and transferring to airline partners instead - where you can regularly find 1.5 to 2+ cents per point in value.

With Hyatt killing off-peak pricing tomorrow - are you a Hyatt loyalist who's been rushing to lock in bookings this week, or do you rarely touch hotel points at all? Hit reply and let me know where you stand. I read every response and I'm genuinely curious how many of you are scrambling right now.

That's it from me today. The Hyatt deadline is the one I'd focus on first - everything else has a bit more runway. Book tonight if you can.

- Jack

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. Hilton Honors American Express Aspire Card: Earn 150,000 Hilton Honors Bonus Points after you spend $4,000 on purchases in t... ($550/yr)

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

Here's what we're seeing in award availability 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 →