Buy SPG Starpoints for 2.28 Cents Each With 35% off Promotion

Update: Some offers mentioned below are no longer available – View the current offers here.

Update 6/29 4:07pm: This promotion has been extended through July 14, 2017. If you purchase 5,000 or more Starpoints through July 14, you'll save 35% — a rate of 2.28 cents per point.

Starwood just launched a new buy points promotion that makes it a bit cheaper to stock up on points. Now through June 30, you can buy or give Starpoints at up to 35% off. The standard cost for purchasing Starpoints is 3.5 cents per point, and this promotion can drop the price down to 2.28 cents apiece.

Rather than offering a graduated bonus structure, this promotion is especially tempting as the 35% bonus starts when you buy or gift just 5,000 Starpoints:

• Buy 500 — 3,000 Starpoints at 3.5 cents per point
• Buy 5,000 — 30,000 Starpoints and save 35% (2.28 cents per point)

Is It Worth It?

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Based on TPG's valuations, Starpoints are worth 2.7 cents apiece. So, the opportunity to buy Starpoints at just 2.28 cents each is a tempting offer. There are a wide variety of ways to maximize Starpoints — from hotel stays to transferring to airline programs and SPG Moments — which is part of what makes these points so valuable.

If you're looking for cheap hotel stays, you can buy points through this promotion to get weekend stays at category 1 hotels for just $46 per night. Luxury hotel stayers can stay at incredible hotels such as the St. Regis Bal Harbour for $684 worth of purchased points.

However, you aren't limited to just using these hotel points for hotels. Starpoints transfer to airlines at a rate of 1:1 with a 5,000 bonus for each 20,000 Starpoints you transfer. If you're able to maximize the transfer bonus, this promotion allows you the chance of buying airline miles for just 1.82 cents each. You can transfer to US-based airline staples such as American/Alaska/Delta, or book hidden gems through other programs, such as Cathay Pacific Asia Miles.

Keep in mind that the usual restrictions for purchasing Starpoints apply to this promotion, including the following:

• You must purchase at least 500 points. Points may be purchased in increments of 500 miles up to 30,000 points.
• Members can only purchase 30,000 points per account per calendar year.
• Purchased points do not count toward Preferred Guest, Gold Preferred Guest or Platinum Preferred Guest Status.
• Starpoint purchases can be made by members whose accounts have been active for a minimum of 14 days. Accounts that are less than the required 14 days in age will have the purchase attempt cancelled.

Note that the purchase is processed by Points.com, so you won't get any travel category bonuses from this purchase. Make sure to use the best non-bonus category credit card for your situation. Based on TPG's valuations, the Chase Freedom Unlimited's 1.5% cash back would be the most rewarding choice.

Of course, if you haven't gotten these cards in the past, you can stock up on Starpoints for much cheaper by having the Starwood Preferred Guest® Credit Card from American Express or the Starwood Preferred Guest® Business Credit Card from American Express.

H/T: One Mile At A Time