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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, Premier Rewards Gold 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.
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 at US gas stations and US supermarkets and 1x for everything else.
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!
The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.
- Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
- Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
- 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
- 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
- Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
- Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
- $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
- Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
- $550 annual fee.
- Terms Apply.
- See Rates & Fees