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From now through May 31, 2015, you can purchase Starwood Preferred Guest points at up to a 25% discount with the new SPG buy points promo. As with recent buy points promotions, this one is tiered to provide a greater discount when you elect to purchase more points.
- Get 10% off 5,000–9,500 Starpoints
- Get 15% off 10,000–14,500 Starpoints
- Get 20% off 15,000–19,500 Starpoints
- Get 25% off 20,000 Starpoints
- Amounts under 5,000 points can be purchased at 3.5 cents apiece
Starpoints usually cost 3.5 cents each, and to score the full 25% discount, you must buy at least 20,000 Starpoints. So maxing out this promotion would net you 20,000 points for $525, which comes to just over 2.6 cents per point. That’s more than my valuation of Starpoints at 2.4 cents apiece, but it’s close enough that I think there’s value to be had here.
For example, if you need additional points to take advantage of a 5th Night Free Award, or if you’re staying at a top-tier property where rooms are expensive, buying points could be a good option. Consider the W Times Square (one of my favorite Starwood properties in NYC), where a 5-night stay in mid-May will cost 80,000 points (4 nights at 20,000 points and the 5th night free).
At $457 per night, this award offers just under 2.3 cents per point, so it wouldn’t make sense to buy points for just one or two nights here. However, if you already had 60,000 points in your account and wanted to stay for five nights, you’d get double the value out of purchasing the last 20,000 points, since you’d be able to take advantage of the fifth night free benefit. You’d pay $525 for points in order to save $914 on the room rate, for a net savings of $389.
Again, I wouldn’t suggest buying points speculatively, but the value offered by this promo is good enough that it’s worth running the numbers on your upcoming Starwood stays to see if you can save money by purchasing points.
Starwood Preferred Guest® Credit Card from American Express
|Intro APR||Regular APR||Annual Fee||Foreign Transaction Fee||Credit Rating|
|N/A||15.49%-19.49% Variable||$0 introductory annual fee for the first year, then $95.||0%||Excellent Credit|