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Update: The limited time offer has ended.
The best Amex Starwood Preferred Guest credit card sign-up bonus that I have seen is back for a few weeks only! The number of SPG points you can get from the sign-up bonus and meeting the spending requirements has increased from 25,000 to 30,000 through September 3rd. This may not sound like much if you are new to SPG points, but since they are typically considered the most valuable type of point out there, this is big news!
Application link: Starwood Preferred Guest® Credit Card from American Express
Application link: Starwood Preferred Guest® Business Credit Card from American Express
The first 10,000 SPG points are awarded after the first use of the card, and the second 20,000 points are awarded after spending $5,000 on the card in the first six months. $5,000 is a bunch of cash for many families, but six months is a decent length of time to get the spending done. That comes out to just over $833 per month on average if you get one of the cards, or about $1667 per month if you get the business and personal cards (and yes, you can get both).
High Value of SPG Points
I value SPG points at 2.5 cents as a minimum, but on my own personal redemptions I usually get at least 3 and 4 cents of real redemption value per SPG point. That makes this sign-up bonus worth between $900 – $1200 at a minimum based on how I redeem. Even at a very conservative 2.5 cents each, 30,000 points is still worth $750! As a quick real life example, I have a cash and points booking at the Westin Resort and Spa, Whistler for next spring break. A room on the mountain at that hotel during a popular ski week can easily go for $450 per night, but on a cash and points rate I am paying just $110 + 6,000 SPG points per night. That means I am getting 5.6 cents per value from each SPG point for our family trip! Even if I was on a straight points rate of 12,000 points per night, I would still be getting 3.75 cents per point in value. Those type of returns for points are virtually untouchable.
SPG Points and Elite Status
Having the SPG Amex business or personal card gives you two stays and five nights toward elite status. If you have both cards you get four stays and ten nights toward elite status. That is a huge jump toward making elite status a reality for many folks! SPG Gold status is achieved after ten stays in a calendar year and SPG Platinum status is achieved after 25 stays in a calendar year. It is even better since SPG award stays count toward elite status!
SPG Points to Airline Miles
If you prefer airline miles to SPG points, you can transfer your SPG points to airline miles with a bonus of 5,000 miles per 20,000 points transferred. That means if you wanted to transfer your SPG points to an airline like American, you would get 25,000 miles for every 20,000 points transferred. What that means is that if you wanted to transfer the whole 30,000 point bonus to American Airlines you would receive 35,000 American miles. If you get both the business and personal cards and transfer the miles (transfer bonuses plus the 5,000 earned from each for spending) that would give you 85,000 miles.
Why to Consider Applying Now
The SPG card only awards one point per dollar for charges not at an SPG hotel, but it is the card to use when you are just earning one point per dollar since the points are so insanely valuable. I use it for my 1x purchases all the time. The annual fee of $65 is waived the first year, however these cards are keepers for me beyond the first year due to the nights/stay credit. Be aware that these cards do still charge foreign transaction fees, so I would use a different card when you head out of the country. Also note that the terms indicate the “welcome bonus” is not available to applicants who have had this product within the last 12 months. Regardless of your long-term plans for these cards, now is really the time to apply since this increased bonus has typically only happened for a very small number of days per summer. It is important to pull the trigger on cards when the bonus is at the peak in order to get the biggest reward possible. For the SPG cards, now is that time.
Do you have the SPG card(s)? Do you plan on getting in on this increased bonus?
Disclosure: I do receive a commission if you are approved for a card using one of my affiliate links. I also will receive a $100 Amex gift card from Amex for mentioning this limited time offer that I will give away at my spouses’ session at the Chicago Seminars (so come for a chance to win)! As always, thanks for your support!