AMEX has launched the SPG Luxury card.
The card has a limited time offer for 100K Marriott points after spending $5,000 in 3 months if you signup by 10/31. That’s equal to 33,333 Starpoints. Some users will see an upgrade offer from their Starwood Consumer AMEX when they are logged into the AMEX account and click on the application link or if they checked their AMEX Offers, though not everyone will have an upgrade offer.
The card has a whopping $450 annual fee. The main benefits you’ll get for that are:
- $300 in annual credit at SPG and Marriott hotels. Charges that are billed to your room are eligible for the credit. The $300 credit resets on your account anniversary date.
- On your account anniversary date you’ll get a free night valid at hotels up to 50K points. The free night must be used within 1 year from the date of issue.
- Global Entry/Pre-check fee credit every 4 years.
- Gold elite status for all cardholders and Platinum elite status if you spend $75K in a calendar year.
- Priority Pass unlimited lounge membership with 2 free guests.
- Free premium in-room internet at SPG/Marriott hotels.
- Premium roadside assistance.
Unfortunately the spending benefits on the card are nothing to write home about:
- 2 Marriott points per dollar spent everywhere (0.67 Starpoints per dollar spent)
- 3 Marriott points per dollar spent on US restaurants and flights booked with airlines (1 Starpoint per dollar spent)
- 6 Marriott points per dollar spent on SPG and Marriott hotels (2 Starpoints per dollar spent)
This card would be very compelling if it earned more points than the old Starwood AMEX did before the merger, but as it is, it’s not a compelling card for spending other than at SPG/Marriott hotels.
If you will max out the $300 in credit at SPG/Marriott hotels the effective annual fee is $150 per year. The annual 50K point free night should be worth at least $150 and can be worth much more, assuming that you’re able to use it every year. Overall those are decent benefits for the annual fee, though they are not amazing. If you don’t max out those benefits yearly then the card won’t make sense for you.
Applying for this card will add to your 5/24 count, which can hinder your chances of getting Chase cards over the next couple of years, though upgrading to this card shouldn’t add to your 5/24 count.
It’s worth noting that until tomorrow, anyone can apply for this card and get the bonus. However starting on Sunday you won’t be able to get the bonus if:
- You received a signup or upgrade bonus for a Chase Marriott Consumer or Business card in the past 24 months
- You have or had a JPMorgan Ritz-Carlton card in the past 30 days
- You were approved for a Chase Marriott Consumer or Business card in the past 90 days
Will you signup for the new SPG Luxury card? Or is it too pricey for the benefits that it offers?