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@bobbay wrote:Thanks JSUCool. I have been itching to consolidate some of this I will be patient. I was already considering closing SPG prior to this. I will wait a couple of months to get a better idea on where this is going.
Open123 I agree.
You have some time to see how it plays out, except that SPG points WILL devalue. At this point, I can't envision any scenario where I would choose the Amex or Chase Marriott (SPG) for general spending.
When they do reveal the conversion rates, I'll likely retire my SPGs, and move on to EDP for MRs or BofA Travel rewards for cash. Too bad, since the Delta crossover and elite reciprocity program has been nice perk.
@Open123 wrote:
@bobbay wrote:Thanks JSUCool. I have been itching to consolidate some of this I will be patient. I was already considering closing SPG prior to this. I will wait a couple of months to get a better idea on where this is going.
Open123 I agree.
You have some time to see how it plays out, except that SPG points WILL devalue. At this point, I can't envision any scenario where I would choose the Amex or Chase Marriott (SPG) for general spending.
When they do reveal the conversion rates, I'll likely retire my SPGs, and move on to EDP for MRs or BofA Travel rewards for cash. Too bad, since the Delta crossover and elite reciprocity program has been nice perk.
The complication in all this, however, is that Starwood just renewed their contract with American Express at the first of 2015, quietly mentioned along with the Delta renewal. While it is possible that Marriott would just buy out the agreement, I'm planning to wait and see what transpires. I'm going to be getting ready to move points if that becomes necessary, but I'm not planning to actually close the SPG ahead of any actual notification from Marriott/Starwood.
I do tend to agree that over time, SPG will be subsumed into Marriott Rewards. What is not yet clear is, whether that is a 2016 event or a 2020 event.
@NRB525 wrote:The complication in all this, however, is that Starwood just renewed their contract with American Express at the first of 2015, quietly mentioned along with the Delta renewal. While it is possible that Marriott would just buy out the agreement, I'm planning to wait and see what transpires. I'm going to be getting ready to move points if that becomes necessary, but I'm not planning to actually close the SPG ahead of any actual notification from Marriott/Starwood.
I do tend to agree that over time, SPG will be subsumed into Marriott Rewards. What is not yet clear is, whether that is a 2016 event or a 2020 event.
Right, I suppose, it is possible Amex contiues to offer the Marriott/SPG in some form, but I can't envision any scenario other than SPG points devaluation. I'm not as concerned over elite status, as I am on losing the value of the SPG program's redemptions and transfer partners.
The moment SPG's cash equivalent value is less than 2.5 cpp, it will no longer be my main general expenditure card. Any potential conversion at less than 3:1 (actually, 1 SPG is likely worth 5 - 10 Marriott points), I transfer out all SPG points, and close the account.
*Edited* PS - For me, I can't envision any scenario where I'd allow my SPG points to be converted into Marriott's.
@rlx01 wrote:
Even though the SPG contract was renewed, that doesn't mean the card will continue to earn SPG points.
I.e. Gets rebranded as the Marriott Amex like the dual issuer Hilton cards.
The Marriott program is basically useless so... Once they merge them... It's bye bye SPG Amex.
A Hyatt buyout would have been preferable to this. Marriott hotels are like traveling back in time.
I guess Amex will allow PC'ing to the EDP once the program's merge...
I feel Amex are going to lose a significant amount of spend as the SPG card is extremely popular.
The majority of my spend is on SPG, as I suspect it is for many of Amex's cardmembers. Once this deal closes, we'll all find a replacement card for general spend. At this point, I think the EDP is the best option, with BoA 2.65% also a viable alternative.
For my general spend, the minimum I would accept is a 2.5% cpp equivalent.
PS - Even with an Amex Marriott, I'm not interested.
@Open123 wrote:
@rlx01 wrote:
Even though the SPG contract was renewed, that doesn't mean the card will continue to earn SPG points.
I.e. Gets rebranded as the Marriott Amex like the dual issuer Hilton cards.
The Marriott program is basically useless so... Once they merge them... It's bye bye SPG Amex.
A Hyatt buyout would have been preferable to this. Marriott hotels are like traveling back in time.
I guess Amex will allow PC'ing to the EDP once the program's merge...
I feel Amex are going to lose a significant amount of spend as the SPG card is extremely popular.The majority of my spend in on SPG, as I suspect it is for many of Amex's cardmembers. Once this deal closes, we'll all find a replacement card for general spend. At this point, I think the EDP is the best option, with BoA 2.65% also a viable option.
For my general spend, the minimum I would accept is a 2.5% cpp equivalent.
Excuse my lack of knowedge of BOA credit cards, but where are you getting 2.65% back on non-category general spend from BOA?
Thanks!
@PNW_Hunter wrote:Excuse my lack of knowedge of BOA credit cards, but where are you getting 2.65% back on non-category general spend from BOA?
Thanks!
If you have $100K with them, such as an orphan IRA or 401K in-service withdrawal, you earn a 75% bonus on all points earned. Their Travel rewards earns 1.5%, which becomes 2.65% with the bonus. And, finally, points can be transferred to Fid Amex for 1:1 cash redemption, which equates to 2.65% cashback with no FTF and no annual fee.
Had no idea BOA did that!
I'm a Vanguard kinda guy, but I'd sure love 2.65% cash back on general spend
@PNW_Hunter wrote:Had no idea BOA did that!
I'm a Vanguard kinda guy, but I'd sure love 2.65% cash back on general spend
Well, it's not as if I'm a big Merrill Edge fan! But, for 2.65% cashback, 30 free trades per month, I can park a portion of my IRA and tolerate the second rate brokerage platform and slow execution.