Buy Back Opportunity for Marriott Elite Status
Marriott has an interesting promotion where you can actually buy back your elite status if you didn't re-qualify in 2010. While I think it might make sense to buy back to Platinum or Gold simply because of the free breakfast, internet, and room upgrades, Silver doesn't get much besides a 20% point bonus. (Full list of Marriott Elite benefits).
Overall, I like what Marriott is doing - giving people who may have been laid off in 2010, but returning to work in 2011, a chance to get back in the traveling game without slumming it with no status. In the meantime, they take a bunch of points off their books and engender loyalty with top customers. "Buying" back status seems like it could create more value with the consumer instead of randomly extending status (which some chains do). This feels like win-win for all and I suspect other chains will copy Marriott's model in the future.
Tip of the hat to Ric at Loyalty Traveler, which is a great blog for detailed analysis on hotel loyalty programs.
Per this promotion link:
"As one of our valued Elite members, we understand that your travel needs vary from year to year and that occasionally you might not have the required number of stays to maintain your Elite status. But we know how important Marriott Rewards benefits are to you - so we are offering you a limited-time opportunity to buy back your status for 2011 using points that you may already have.
Here's all it takes to reinstate your level:
Points required to buy back Platinum status - 40,000 (a savings of 20,000 points)
Points required to buy back Gold status - 25,000 (a savings of 15,000 points)
Points required to buy back Silver status - 7,500 (a savings of 12,500 points)
Remember, if you don't have enough points in your account, you can always
buy up to 50,000 points every year.
This offer is valid through April 1, 2011 and allows only one level of buyback, which must match the Elite level you enjoyed in 2010.
Once your status has been reinstated, Marriott Rewards will send you a new valid membership card for your restored Elite level.
How to Do It: Two Ways to Buy Back Your Elite Status
- Simply call Guest Services at 1-800-321-7396 (toll-free in the U.S. and Canada),
or - Email us at Marriott Rewards with your information.
- If emailing us, include your name and Rewards number, then copy (or cut-and-paste) one of the three options below:
- Switch my Elite status from Gold to Platinum status for 40,000 points
or - Switch my Elite status from Silver to Gold status for 25,000 points
or - Switch my Elite status from Basic to Silver status for 7,500 points "
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- In addition, the card comes with many premium travel perks such as an annual $300 credit for bookings through Capital One Business Travel.
- Business owners are also able to add employee cards for free.
Cons
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- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
- Receive up to a $120 credit for Global Entry or TSA PreCheck®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month
- Top rated mobile app