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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?

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