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SPG is offering an extra 20% percent bonus when you purchase Starpoints this week. SPG members will be able to buy up to 20,000 points at a cost of 3.5 cents each (netting you 4,000 bonus for a total of 24,000). After the bonus, the cost per point goes down to 2.9 cents — still not the best deal for most people.
We currently value Starpoints at 2.5 cents, so justifying the purchase is a tough sell if you don’t have a particular redemption in mind. With that said, you can certainly find value in the promotion if you redeem your Starpoints for maximum value. Additionally, if you just need a small number of points, it’s possible to purchase as few as 500 points (including the 100-point bonus) for $17.50.
If the high cost per point doesn’t deter you, there are still opportunities to get a good value from a points purchase. The Great Northern Hotel in London, for example, is a pricey $523 per night next March, but a room costs just 12,000 Starpoints. If you opt to spend your points here, you’ll get a value of 4.4 cents per points — enough to justify the 2.9 cent per point price tag.
Another worthwhile redemption could be the Sheraton Santiago in Chile, which costs $319 or 10,000 Starpoints per night. This redemption — while not as lucrative as the Great Northern — would give you a 3.2 cent per point return on your stay. At 2.9 cents per point, purchasing Starpoints could still be worthwhile.
Note that in order to participate in the promotion, your Starwood account must have been created more than 14 days ago to participate in the promotion, and if you participated in one of the earlier offers — you’re capped at buying 20,000 points per year — so you might not be eligible to purchase more. The bonus expires on September 20th, so there’s still plenty time to get on the deal before it ends.
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