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Amex increases the interest rate on the Starwood Preferred Guest American Express credit card

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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.

Interest rate changed on Starwood Amex

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.

My full review of the Starwood Amex is here.  The application form is here.

How to earn Marriott Bonvoy points via UK credit cards

As a reminder, there are various ways of earning Marriott Bonvoy points from UK credit cards.  Many cards also have generous sign-up bonuses!

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 Gold, Shangri-La Golden Circle Jade and Melia Rewards Gold status.  We reviewed American Express Platinum in detail here.

Click here to read our detailed summary of all UK credit cards which earn Marriott Bonvoy points.  That page is regularly updated with the latest special offers and will still be accurate even if you are reading this article months after publication.

(Want to earn more hotel points?  Click here to see our complete list of promotions from the major hotel chains or use the ‘Hotel Promos’ link in the menu bar at the top of the page.)

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history.  By recommending credit cards on this site, I am – technically – acting as a credit broker.  Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.