American Express increased the interest rate on the Starwood Preferred Guest American Express card and the little-known Costco American Express card (reviewed here) yesterday.
Both cards saw the interest rate on purchases increase from 19.9% to 22.9%. The overall interest rate on the SPG card, including the £75 annual fee and assuming a £1200 credit limit, is now 39.7%. This brings it in line with the British Airways and Nectar Amex cards.
This should hopefully be of no relevance whatsoever to HfP readers, because anyone who pays interest on their credit card should not have a miles and points card! I recently published this article on reward credit cards which also have low interest rates.
The Starwood Preferred Guest American Express comes with a sign-up bonus of 30,000 points. This is worth around £150 of free hotel rooms via the Marriott Rewards / Starwood Preferred Guest scheme, or it can be converted into 10,000 Avios or other airline miles.
There are many airlines where the SPG Amex is now the best way of earning miles in the UK from a credit card – Air Canada Aeroplan, American Airline AAdvantage, United MileagePlus, Qatar Airways Privilege Club etc.
How to earn Marriott Bonvoy points and status from UK credit cards (November 2022)
There are various ways of earning Marriott Bonvoy points from UK credit cards. Many cards also have generous sign-up bonuses.
The official Marriott Bonvoy American Express card comes with 20,000 points for signing up, 2 points for every £1 you spend and 15 elite night credits per year.
You can apply here.
You can also earn Marriott Bonvoy points by converting American Express Membership Rewards points at the rate of 2:3.
Do you know that holders of The Platinum Card from American Express receive FREE Marriott Bonvoy Gold status for as long as they hold the card? It also comes with Hilton Honors Gold, Radisson Rewards Premium and MeliaRewards Gold status. We reviewed American Express Platinum in detail here and you can apply here.
You can also earn Marriott Bonvoy points indirectly:
- American Express Gold (20,000 bonus Amex points)
- American Express Rewards Credit Card (10,000 bonus Amex points)
and for small business owners:
- American Express Business Gold (20,000 bonus Amex points)
- American Express Business Platinum (40,000 bonus Amex points)
The conversion rate from American Express to Marriott Bonvoy points is 2:3.
(Want to earn more hotel points? Click here to see our complete list of promotions from the major hotel chains or use the ‘Hotel Offers’ link in the menu bar at the top of the page.)