cancel
Showing results for 
Search instead for 
Did you mean: 

SPG Worth Keeping?

tag
-Cal-
Valued Contributor

SPG Worth Keeping?

I have too many credit cards. Among them are the SPG, Marriott, and Ritz. I spend about 1k per month on the Ritz, mostly on airline & Marriott purchases. I don't really use my SPG card (maybe a mistake?) and I keep the Marriott for the annual free night (even though it seems hard to redeem). 

 

I haven't been the happiest with Amex (http://ficoforums.myfico.com/t5/Credit-Cards/Amex-froze-my-accounts-Citi-to-the-Rescue/m-p/4901987) so I'm considering closing out my SPG since my AF is now due. I haven't found much of an opportunity to stay at a SPG property yet. I have about 105k Marriott points and around 45k SPG points. Any compelling reasons to keep the SPG open that I'm not thinking of?

 

 

Message 1 of 11
10 REPLIES 10
wasCB14
Super Contributor

Re: SPG Worth Keeping?


@-Cal- wrote:

I have too many credit cards. Among them are the SPG, Marriott, and Ritz. I spend about 1k per month on the Ritz, mostly on airline & Marriott purchases. I don't really use my SPG card (maybe a mistake?) and I keep the Marriott for the annual free night (even though it seems hard to redeem). 

 

I haven't been the happiest with Amex (http://ficoforums.myfico.com/t5/Credit-Cards/Amex-froze-my-accounts-Citi-to-the-Rescue/m-p/4901987) so I'm considering closing out my SPG since my AF is now due. I haven't found much of an opportunity to stay at a SPG property yet. I have about 105k Marriott points and around 45k SPG points. Any compelling reasons to keep the SPG open that I'm not thinking of?

 

 


Well, we don't really know what's going to happen to the card as Marriott and SPG continue to integrate. It might end up as something that's closed to (or nerfed for) new apps, and/or pick up some nice perk like Marriott's renewal night. I'm not saying it's likely, just possible.

 

I got one recently for the 35k. I usually get cards with the expectation of keeping them for at least two years (mostly to reduce the appearance of bonus hunting). I use the card a lot and I'm getting enough value from the first year alone that I'm okay with the risk in paying a modest second-year AF without knowing exactly what the card will look like then.

 

So "reduce the appearance of bonus hunting" and "see what happens to the card" are the reasons I plan to keep the card into 2019. I'm not sure how relevant they are to you.

 

The number and quality of Amex offers I get has deteriorated, but maybe you get decent ones?

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 2 of 11
K-in-Boston
Credit Mentor

Re: SPG Worth Keeping?

I mentioned before when someone was asking about the difference that if you're looking at Marriott, it's helpful to think of the SPG card as a 3x Marriott Rewards points on everything card since the points can be freely transferred between the two programs now.
Message 3 of 11
-Cal-
Valued Contributor

Re: SPG Worth Keeping?


@K-in-Boston wrote:
I mentioned before when someone was asking about the difference that if you're looking at Marriott, it's helpful to think of the SPG card as a 3x Marriott Rewards points on everything card since the points can be freely transferred between the two programs now.

So everyday purchases on an SPG card = 3x Marriott points. That's interesting, but I usually put every day (non-category) spend on a 2% card since I value cash back over hotel points. I'm leaning towards canceling and having my wife apply for the card to get the bonus. 

Message 4 of 11
K-in-Boston
Credit Mentor

Re: SPG Worth Keeping?

Cash back is fair enough. If used right, SPG points can be worth far more than 2 cents, but I know some prefer the simplicity and near-immediate return of cash back. If your wife applies, maybe wait until you get a targeted offer or there is a better sign-up bonus? The 35k for $5k ended a few days ago.
Message 5 of 11
-Cal-
Valued Contributor

Re: SPG Worth Keeping?


@K-in-Boston wrote:
Cash back is fair enough. If used right, SPG points can be worth far more than 2 cents, but I know some prefer the simplicity and near-immediate return of cash back. If your wife applies, maybe wait until you get a targeted offer or there is a better sign-up bonus? The 35k for $5k ended a few days ago.

Good advice, I didn't realize they raised the bonus again. I picked it up last year because of the 35k bonus. I'm leaning towards canceling the SPG.

Message 6 of 11
-Cal-
Valued Contributor

Re: SPG Worth Keeping?

I went through with closing the SPG. When I called the first thing the representative brought up was the balances on both of my Platinums which was a little annoying. Their customer service has gone downhill. Personal Platinum is probably going to get chopped also. 

 

 

Message 7 of 11
Anonymous
Not applicable

Re: SPG Worth Keeping?

Should've asked them about a retention offer...Amex is known for giving pretty good ones. They've been going crazy with some of the Plat retentions lately. People have gotten 30-50k MR bonuses for keeping the card! Make sure to ask when you call to cancel the Plat
Message 8 of 11
-Cal-
Valued Contributor

Re: SPG Worth Keeping?


@Anonymous wrote:
Should've asked them about a retention offer...Amex is known for giving pretty good ones. They've been going crazy with some of the Plat retentions lately. People have gotten 30-50k MR bonuses for keeping the card! Make sure to ask when you call to cancel the Plat

Yep I'm familiar with the retention offers, they didn't offer me anything so I closed it. I've already had a few on this card (You can ask for a retention offer every 90 days) so I didn't expect another.

 

Edit: Recently got $200 credit for my personal plat, will see if they give me 50k in a few months. 

Message 9 of 11
SkyCommander
Frequent Contributor

Re: SPG Worth Keeping?

So you call Amex near your AF posting and straight up ask them if they have any retention offers if you decide to keep your card?

Chase Hyatt | Chase Sapphire Preferred | Chase Freedom Unlimited | Amex ED | Amex Hilton | Amex Bonvoy | BoA Amtrak | CapOne Quicksilver
Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.