Minor Improvement to the American Express Starwood Preferred Guest Credit Card
The American Express Starwood Preferred Guest Credit Card (Canadian version) has been slightly upgraded. Originally, there was a $50 annual fee for supplementary cardholders, which now waives its first year fee. Not an earth-shattering move, but it should make it a no-brainer to at least add the supplementary cardholder at least for the first year.
Below are the other highlights of the credit card:
- $120 annual fee
- $50 annual fee for supplementary cardholders (first year fee waived)
- Earn 20,000 sign up bonus points after spend $500 in the first three months
- Earn 1 points for every $1 spent on all purchases
- Receive an upgrade to Starwood Gold Preferred Guest membership after spending $30,000 each anniversary year
- Receive a Free Weekend Night Award after spending $40,000 each anniversary year
I recently provided an analysis on whether the American Express Starwood Preferred Guest Credit Card is worth it. I may not have provided a direct answer last time, but I will this time. The answer is: YES.
First of all, the 20,000 sign up bonus more than justifies the $120 annual fee. I value 1 Starpoint at least 2.4 cents a piece (depending on how you leverage the points), so 20,000 points is worth $480. Starpoints are also the most valuable currency out there. Earning 1 Starpoint for every $1 spent essentially gives you a 2.4% return on all purchases.
The spending bonus rewards are amazing for big spenders. Let’s say that you do not have any travel plans all year, because you are up for a big spending year. If you fulfill the $40,000, you will benefit from a Free Weekend Night Award on a Gold membership. You will also end the year with 60,000 Starpoints (20,000 sign up bonus and 40,000 from regular spending). That’s a pretty nice way to start the new year. Therefore, I highly recommend this credit card for big spenders. Just make sure that your retailers actually accept American Express.
I am still hoping to see the first year fee waived again. American Express, maybe offer a short term promotional offer?
Loved this card and churned it a few times. Won’t be getting it again though. The welcome bonus will not be given to current or former card members. SAD!
Lack of being able to churn is sad, which is why I really wish that they would waive the first year annual fee.
I think we will see the welcome bonus restriction lifted in time. They have to see a decline in cardholder numbers and it would quickly boost that back up.
I have to agree. It was a good card, but with other cards that have a great sign up bonus, I will need to pass on this card as I had it back in 2008 so I believe I would not get the sign up points. So spending 40,000 on this card would only get me 40,000 points which is not enough of a deal for the $120 annual fee, especially when you consider how hard it is to use Amex anyhow.