Showing posts with label American Express Membership Rewards. Show all posts
Showing posts with label American Express Membership Rewards. Show all posts

Friday, July 26, 2013

Earn Miles By Transferring from Points.com

This is again one of those "I don't know if this is the best value for your miles, please do your research, have your goal and see if this is the best way to earn miles" posts. Points.com is a website that helps track your point balances in your frequent flyer accounts.


The service is free and has helped me keep track of my account numbers for airline and hotel loyalty programs. One of the most unique features of Points.com is the ability to trade or swap points between two different loyalty programs. I will discuss both options below:

Trade Points

Points.com allows you the opportunity to trade your points in one particular loyalty program with someone else's points in another loyalty program. The trade could be 1:1 or another amount.  Here are some examples of trades that were offered to me:


To complete the trade you will have to pay a fee. As you can see, the fee gets more expensive as the amount miles being trade increases. Is this a good deal? It depends on the offer and your need at the moment.

Swap Points

The other options is to swap points from one loyalty program to another. The transfer rates depend upon the program. For instance, here is what you would need to trade to earn 1,000 United Mileage Plus miles:


None of the transfer rates are particularly attractive. If you have orphan points in a loyalty account transferring to another program might be a good idea. However, transferring points just to earn more Mileage Plus miles is a terrible idea.

Below is a list of loyalty programs participating with Points.com:


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Monday, May 20, 2013

Unique Benefit I Wanted From the 75K AmEx Gold Card Offer

With the recent frenzy over the increased bonus for the AmEx Business Gold Card (public link from AmEx site) there was lots of "apply before the deal goes away" and then "what you can do once you get the 75,000 bonus points." In my opinion it was crazy to see how many people were pushing the deal and my google reader was just as overloaded as everyone else. But I actually applied for this deal because it was the perfect storm of what I needed at the time.

The deal came up on my 91st day after my last series of credit card applications so my previous hard pulls of my credit had just dropped off and my score was in great shape at 738 so I was already starting to study what cards I should get. The deal also was my first foray into AmEx Membership Rewards market so I was excited to see a big bonus. I plan to hold onto the 75,000 sign up bonus and see who offers a great transfer bonus this summer. But the biggest benefit I saw from the card was 2x on shipping purchases. I plan on using shipping more and more because we are selling most of our apartment items online so we don't have to worry about getting them to Seattle when we move in July. That nice little bump will help ease the sting of shipping all of our stuff to wherever we are shipping it and will make it a little easier to get to the sign on bonus threshold.

If you are a points and miles person who buys and sells items and is often finding yourself shipping lots of items to EBay, like I soon plan to be, then this could be a good option for you. The additional benefits of 3x points on airline purchases, 2x on advertising, shipping and gas make it a very attractive card, especially when it's at a sign on bonus level as high as we saw last week. So...the offer didn't work for everyone, but for me...it was perfect timing!


Important Note: We talk about credit card sign-up bonuses on our blog because they are an important part of the “game.” Any credit card links in this post will be public application links taken from the issuer's direct website. We do not earn income from you applying from the links. Similarly, please take an extra minute or two before applying for credit cards. If you do not pay your credit card balance off every month then you should stay away from this aspect of the game. Credit cards can lead to major long-term problems if not used correctly. I encourage you to read JD's post on Young People and the Chains of Credit Card Debt for more details.  

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Friday, March 15, 2013

JD's Newbie Hotel Choice

Important Note: JD and I may talk about the loyalty credit card for our particular airline and hotel in these posts. Credit card sign-up bonuses are an important part of the “game.” Any credit card links in this post will be public application links taken from the issuer's direct website. We do not earn income from you applying from the links. Similarly, please take an extra minute or two before applying for credit cards. If you do not pay your credit card balance off every month then you should stay away from this aspect of the game. Credit cards can lead to major long-term problems if not used correctly. I encourage you to read JD's post on Young People and the Chains of Credit Card Debt for more details.  

This is the last part of Chris and I’s debate on best newbie hotels and airlines. Other parts of our debates can be seen by clicking the links below:





I was having a hard time picking my newbie hotel. Many would probably guess, I would go with Hilton. I wrote here, why I am sticking with Hilton, even as others around running to other hotels. The benefits of Gold status (upgrades, breakfast, extra points) are very valuable. However, the recent increase in the number of points for a free nights made me think twice as naming it "Best Hotel for Newbies."

That title for me goes to Starwood. Say What!
                                        


Yes, Starwood is my choice for Best Newbie Hotel.

Starwood Hotels and Resorts has 9 different hotel brands: Aloft, Four Points, Sheraton, Westin, Le Meridean, Element, W, St. Regis and Luxury Collection. With over 1,100 hotels in 100+ countries, Starwood has hotels in almost anywhere you are headed.

The main reason that I am nominating Starwood as Best Newbie Hotel are the reward redemption's. Starwood's loyalty program is called Starwood Preferred Guest or known as SPG, in the mile world.  SPG gives you multiple ways to redeem Starwood points. The most straight forward way to redeem point is for free nights. Starwood Hotels are divided into seven (7) categories with higher category hotels costing more points per night than lower category hotels.


As you can see, SPG gives you the 5 nights for the cost of 4 night, when redeeming points for
categories 3-7. Week long redemption stays are cheaper, because of SPG 5th Night Free feature.

SPG has another feature that let's you stretch your points further: Points + Cash.


As you can see, one can spend points and cash to upgrade better rooms or even suites. I don't know if the spending the points on a suite is the best use, but there are times that it is well worth it: proposing to your girlfriend, impressing the in-laws or throwback high school hotel party.

There is a redemption chart for upgrades paid solely with points, as well:


One of the most interesting uses for SPG points is Flights and Nights. SPG gives you the ability to turn 60,000 Starpoints into 5 nights in a category 3 hotel and 50,000 airline miles or 70,000 Starpoints into 5 nights in a category 4 hotel and 50,000 airline points. The Miles Professor writes here how she use this redemption option to get two nights at the Conrad Tokyo (she transferred the miles to Virgin Atlantic)


I think the redemption option that makes Starwood stand out compared to other hotels is the ability to transfer points to an airline of your choice. What makes Starwood stand out is the transfer rate: 1 to 1. Starwood allows you to transfer their points into 29 different airlines. Only 6 of the 29 airlines don't transfer at a ratio of 1 SPG to 1 airline miles. Go here to see the list of airlines that Starwood allows its members to transfer to. As a basic member, the minimum number of SPG points one must transfer is 2500.

While I told you how you can spend the points with SPG, the other side of the coin is how one earns is SPG points. There are four major ways of earning SPG points:

Stay at their Hotels: 

Members at Preferred Guest level earn two (2) Starpoints for every eligible dollar spent on participating points. One can earn more points per dollar by gaining status within SPG.

Get and Use SPG Card:

Starwood offers a personal and business cobranded AMEX credit card. Currently, the offer is 25,000 SPG points after spending $5,000 in six months (10,000 points after first use and 15,000 points after spending six months). You earn 5 SPG per dollar spent at Starwood Hotels and 1 SPG per dollar on anything else. 

For the past two summers, the offer has increased to 30,000 SPG. I would wait until July to see if the offer comes up unless you need the card now!

Buy Starwood Points

I was hesitant to add this option, but it is an earning option. To buy points go here. Currently, you can save somewhere between 15% to 25% off buying points. Typically, you can by $0.035 per SPG point with a minimum 500 point buy.

Transfer

Transfer points from American Express Membership Rewards or Diner's Club

Frequently, Starwood has promotions to give you the option of increasing your points balance. For instance, in the past two quarters, SPG has offered targeted members opportunities to earn free nights or bonus points by staying at their hotel.

Yes, its nice that they have multiple brands for different price points. Its also great that they have more than 1,100 properties in 100 countries. The bread in butter is your ability to spend the points. Unlike Hilton or Club Carlson, a small amount of points can go far with Starwood. With free nights starting as cheaply as 3,000 or 4,000 points and the option to mix cash and points, a small amount of points can go pretty far. That is why I am recommending SPG for newbies. 
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 Have a question for us? E-mail us at chris@doitforthepoints.com or jd@doitforthepoints.com