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This offer is being updated – congrats to those who got in on time!
You are leaving miles and points on the table if you miss applying for rewards credit cards when the sign-up bonuses are temporarily increased. Sometimes, especially if you are newer to this hobby, it is very difficult to know if a sign-up bonus is truly increased or not. I can tell you with 100% certainty that the SPG Amex Business and Personal cards have increased sign-up bonuses that are at the highest level I have ever seen them get in my years of obsessing over miles and points.
Of course there is no way to predict the future of sign-up bonuses, but historically they have usually only gone from the regular 25,000 point level to the current 30,000 point level once each summer. As the weather and the calendar are telling us, summer is leaving, and these sign-up bonuses are scheduled to go back down to their regular levels after tomorrow (Monday). If you are planning on getting either of these cards in the near term, I would seriously considering pulling the trigger by tomorrow or you are effectively walking away from valuable 5,000 SPG points.
Who Can Get the Increased Sign-Up Bonuses:
The terms for the business card indicate that the welcome bonus offer is not available to applicants who have or have had this product within the last 12 months. In contrast, the personal card offer terms indicate that the welcome bonus offer not available to applicants who have or have had this product.
Value of 5,000 Additional SPG Points:
An additional 5,000 SPG points going from 25,000 to 30,000 points may not sound like much if you aren’t familiar with SPG points, but for the SPG card it is a pretty big deal since this sort of increase usually only happens about once per year. You can also book award nights at SPG hotels starting at just 2,000 points per night, so 5,000 additional points are truly valuable with a variety of ways to redeem. As I have mentioned, if history is an indicator, the bonus is unlikely to go back to the 30,000 point level again in the near future after that date.
To give you an idea of how you can put theses points to great use, here are a few posts on the topic.
The Starwood Preferred Guest Business Amex also gets this new perk (in addition to the ones above):
- Access to Sheraton Club Lounges for Starwood Preferred Guest® Business Amex cardholders staying on an eligible reservation for the cardholder and a guest in the same room. Card Members with a SPG Business Credit Card feel like VIPs with access to Sheraton Club Lounges, which includes a complimentary daily breakfast, evening selection of premium beverages and hors d’oeuvres, and space for hosting a friend or colleague.
Review of New SPG Amex Benefits:
If you didn’t already have Sheraton Club access via SPG Platinum status, then being able to grab a snack or complimentary daily breakfast vie having the business card is a real improvement. In truth, most Sheraton Club Lounges in the US aren’t exactly memorable, but having the option to grab something is better than not having the option!
No foreign transaction fees on both the business and personal cards doesn’t sound near as novel now as it did a few years ago since many rewards cards already have this feature, but for this card it is still a very welcome change. The SPG Amex awards 2x points on SPG charges, so it is very tempting to use it at international SPG properties, but the foreign transaction fees made that a deal killer. Now you can swipe and earn valuable SPG points both in and out of the United States without any additional fees – hurray!
Find SPG Award Nights:
If you want to get an idea of how you can use SPG points to stay at properties that I have stayed and and loved like the Westin Riverfront Resort and Spa (Beaver Creek), St. Regis Princeville Kauai, St. Regis New York, or W Washington DC then check out this post for how to easily find award availability online.
Increased Bonus Lasts Until Tomorrow (September 14th):
While the new perks and benefits may be around to stay, the increased sign-up bonus of 30,000 SPG points only lasts until September 14, 2015, so plan accordingly if you have been hoping to get the Starwood Preferred Guest® Credit Card from American Express or Starwood Preferred Guest® Business Credit Card from American Express.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.