Hotel cards hand you a free night every year — Hyatt's category 1–4, Marriott's 35,000-point, IHG's 50,000-point certificate. Used well, one night can outweigh the entire annual fee. Used badly, it is a $120 room you did not need.
Rule one: never let it expire. Certificates typically last 12 months from issue, and expired ones are gone — hotels do not extend them out of kindness. Track every expiration in one place because the dates differ per card.
Rule two: spend it where cash prices are highest. A category 4 Hyatt in Manhattan during peak season can run $400+; the same certificate at an airport motel might be worth $130. Same certificate, triple the value.
Rule three: know your top-up rules. Marriott lets you add up to 15,000 points to a 35,000-point certificate, which unlocks a whole tier of nicer hotels. IHG's fourth-night-free logic does not apply to certificates, so plan accordingly.
Book the expensive night first, then plan the trip around it — not the other way around.