SPG 35K Offers Ending – Should You Apply?
Currently American Express is offering a “best ever” bonus on both of the co-branded Starwood Preferred Guest credit cards.
The offers are as follows:
- Starwood Preferred Guest Business Credit Card from American Express – 35K after $5K spend in 3 months.
While these offers represent the highest we have seen the bonus, American Express has increased the bonus from the normal 25K to 30K each of the past few summers.
Getting the Business Card
Last year I picked up the personal version of this card during the 30K offer. For some reason I had focused on other American Express products and thus had never had the card. American Express limits the bonus on all cards now to “once per lifetime” so I won’t be able to get the bonus on the personal card again under the current rules.
I also have never had the business version of this card and thus decided to apply for the 35K offer a couple of weeks ago. My thinking is that Starpoints are valuable and I might as well grab a huge chunk. While Amex currently has the “once per lifetime” rule on bonuses, that could change, so why not get the card? The other feature that I like is the Sheraton Club Lounge access, although to be honest that wasn’t a deciding factor.
American Express seems to love me lately and they are consistently the only bank with which I don’t have to wait for my application to go under manual review. I applied for the card about two weeks ago and was instantly approved. While the $5,000 minimum spending requirement is a bit steep, I shouldn’t have too much trouble meeting it.
Should You Apply?
So the big question is whether or not you should apply for the 35K offers before they expire. Well, I can’t tell you the answer to that, but I’ll share with you my thinking. The normal bonus is 25K points and we normally see a bonus of 30K points once a year, so you are gaining 10K over the normal offer and 5K over the previous best offer.
If we value Starpoints at 2 cents each, then this bonus is worth about $200 more than the normal offer or $100 more than the 30K increased offer. I don’t know about you, but $200 isn’t life or death. Following that line of thinking, here is what I would do:
- Apply for the 35K offers if they make sense for you. Don’t apply if you aren’t comfortable getting a new card right now and certainly don’t take on more spend than you are comfortable with for a few extra points. It simply isn’t worth it.
- Apply (like me) if you can meet the spending requirements and if applying now makes sense within your overall plan. It is always nice to get the best bonus ever on a card if it makes sense.
Will The SPG Amex 35K Offers Really End Tomorrow?
I have no way to tell, but Amex doesn’t generally have zombie links like some other banks. During the 30K offer last year the public links stuck around a bit longer and some people were able to get approved via the telephone for a short while, but I do expect (based on what has happened in the past) the offers to go back to their normal level pretty quickly after tomorrow.
The 35K offers on the Starwood Preferred guest cards are very valuable in my opinion, but if you aren’t ready to apply or the time isn’t right, then losing out on an extra $100 or $200 worth of a bonus isn’t going to be a huge deal. I’m glad I was able to pickup the business card with a high bonus, but had I not been able to get it, I wouldn’t have lost sleep.
Have you picked up one of these cards during the promotion? What has your experience been like? Let us know in the comments.
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