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Update: Some offers mentioned below are no longer available. View the current offers here – Starwood Preferred Guest Business Credit Card from American Express, Starwood Preferred Guest Credit Card from American Express, The Platinum Card from American Express

TPG reader Leo wants to know if he should pick up another American Express card:

“Do you think it’s worth getting the Starwood Preferred Guest Card from American Express when I already have the Platinum Card? Is the only advantage earning two extra Starwood points per dollar?”

Comparing the Starwood American Express and the Platinum Card from American Express is kind of like comparing apple to oranges. Starpoints, in my opinion, are more valuable than Membership Rewards points that are accrued from the Platinum Card. Not only are you getting an extra 2 Starpoints per dollar when you spend at Starwood properties (on top of the Starpoints you earn as an SPG member), but you’re earning more valuable points on everyday purchases.

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The key reasons why I like Starpoints are that they transfer to a lot of great airline partners like American Airlines and US Airways, and there is a built-in 25% transfer bonus – any time you transfer 20,000 Starpoints to an airline partner you will get 5,000-mile bonus with most of the frequent flyer programs.

In general The Platinum Card from American Express is not the best card for earning points. If you want Membership Rewards points, the Premier Rewards Gold Card from American Express is a much better option because of its earning structure. With this card you will earn 3x on airfare, 2x on gas and groceries and 1x for everything else. You will also earn a 15,000 point bonus when you hit $30,000 in spend in a calendar year.

One of the great perks of the Platinum Card is the Airport Club Access Program.
One of the great perks of the Platinum Card is the Airport Club Access Program.

Update: Beginning March 22, 2014, American Express Card Members will no longer have access to American Airlines Admiral Club and US Airways Club airport lounges through Airport Club Access / Airport Lounge Program. This means that Card Members will no longer be able to gain complimentary access to the American Airlines airport lounges (known as Admirals Club lounges) or the US Airways Club airport lounges as a benefit of their Platinum Card Membership.

However, the Platinum Card is great because of the numerous perks that come along with it. Card benefits include an annual $200 airline fee rebate, airport lounge access, Global Entry reimbursement, Starwood Gold status and access to the Fine Hotels and Resorts program. Read this post for more details on the various benefits and why they bring more value than the cost of the card’s steep $450 annual fee.

As for the Starwood Amex, the $65 annual fee is waived for the first year and there is a current 30,000-point bonus after $5,000 spent in 6 months that is available until September 3, 2013. I value those 30,000 Starpoints at $600 right off the bat. The Platinum Card has a 25,000-point sign up bonus which you will earn after spending $2,000 on the card within the first 3 months. If you’re able to spend $7,000 in 6 months to earn both bonuses I might recommend getting both cards instead of just choosing one since you can rack up those valuable Starpoints, but also enjoy the perks and benefits of the Platinum Card.

As we noticed this week with the American Airlines surcharge scare, it’s always good to have a robust portfolio of different points accounts with flexible transfer options. I would recommend having both cards in your wallet and deciding at the end of the year whether it makes sense to keep both or get rid of one. That plan is feasible because American Express will let you have 4 open credit cards and unlimited charge cards. The Platinum Card is actually a charge card so it won’t count towards that limit of 4 credit cards that you can get approved for.

I myself have multiple American Express cards, both the Starwood personal and business card, the Mercedes-Benz Platinum Card as well as the Premier Rewards Gold card so its definitely possible to mix and match and maximize those points. Please tweet me @thepointsguy if you have any follow up questions and good luck!

Chase Sapphire Preferred® Card

Even after the introduction of the Chase Sapphire Reserve, the Chase Sapphire Preferred is still a fantastic choice if you want to avoid the Reserve’s $450 annual fee, earn 2x on all travel & dining and earn a 50,000 point sign up bonus.

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More Things to Know
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR
N/A
Regular APR
16.24%-23.24% Variable
Annual Fee
Introductory Annual Fee of $0 the first year, then $95
Balance Transfer
5.00%
Recommended Credit
Excellent Credit

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.