The new SPG Luxury credit card from American Express launched two days ago. I think it’s safe to say that the sign-up offer of 100,000 points after spending $5,000 in the first 3 months is a little underwhelming. Despite my disappointment with the offer and the $450 annual fee, I am now a proud(?) SPG Luxury cardholder. Here’s my rationale for applying:
1. I Had to Get It Now or Wait 2 Years
Thanks to Chase and Amex’s new rules surrounding the Marriott and SPG cards, I would not be eligible for this card after 8/26. That’s because I made the decision to apply for the Marriott Business card earlier this week. Since I received the SPG Business bonus in the last two years, I wouldn’t be eligible for the Marriott Business after 8/26 so I had to act on it now. And by getting the Marriott Business this week, I would also no longer be eligible for SPG Luxury after 8/26.
This didn’t go exactly as planned and my Marriott Biz application is still pending. I talked to recon and faxed in address verification, but they said it will still be another 3-5 business days until they make a decision. Fingers crossed that all I had to do was apply before 8/26 rather than getting approved before this date.
2. I Have a Big Ritz-Carlton Purchase Coming Up
I’m getting married this fall at a Ritz-Carlton, so I’ve been opening SPG and Marriott cards throughout the year to 1) take advantage of sign-up bonuses and 2) earn 5x or 6x Marriott points per dollar spent on these rather large purchases. My last Ritz payment is due in October and I’ll be able to meet the minimum spending requirement on both cards in one go. I’m also hoping that the $300 statement credit on the SPG Luxury card will be triggered by this purchase since it codes as lodging.
3. I’ve Got Big Plans for 2019 Involving Marriott / SPG Properties
Maybe I could have waited and applied for this card in two years, but what’s the fun in that? I like to earn as many points as I can now so it’s easier to pull the trigger on vacation plans since I already have the points ready to go. Availability has been limited for booking suites for 60,000 Marriott points, but I’m still hoping to take advantage of this by booking something for 2019 before the price goes up.
4. I’ll Actually Earn 120,000 points instead of 100,000
If you currently have the SPG personal card, you can refer yourself for the SPG Luxury for an extra 20,000 points. Amex self-referrals are one of my favorite things in 2018.
Am I thrilled to be paying $450 for a credit card that is kind of meh? Of course not, but the fact that I’ll easily get $300 back effectively makes the fee $150. I’ll definitely be able to use the free anniversary night (50,000 points or under), so a free night and 120,000 points for $150 isn’t all that bad. The extra 30,000 points I’ll earn by meeting the spending requirement at the Ritz-Carlton doesn’t hurt either.
Do you plan on applying for the SPG Luxury card?