Good afternoon everyone! It’s been a while since I’ve posted here but I think I’ve stumbled across some juicy information that warrants coming out of hiding. Lately, there’s been a lot of blog coverage regarding the change to the Marriott/SPG loyalty program. However, American Express also announced a change to the earning categories of their personal and business SPG credit cards. Both credit cards will continue to have the same annual fee, however 1 will earn TWICE as much as the other in certain popular categories.
I currently hold both the personal and business SPG credit cards and I have decided that I need to cancel one credit card because the annual fees just posted on both credit cards. My SPG business credit card has a lower APR (although you shouldn’t be carrying a balance and paying interest if you’re travel hacking) but my personal SPG credit card has been open for a longer period of time. There are no downgrade options so closing one of them and hopefully transferring the credit limit of that credit card to another credit card might be the best way to go. I initiated a chat with American Express to discuss my options. I asked the agent if there were any benefits that one credit card had over the other. (I know this info is available on the web but I’m at work and didn’t have the time to do a search and compare.) What I found out was exactly what I needed to decide which credit card to close and which credit card to keep open.
American Express actually sent out emails yesterday, 1 for each credit card but I didn’t think to compare 1 to the other. Luckily, the agent I was chatting with spelled it out clearly for me. These changes all go into affect on August.
I’ve summarized it in a table below. Note the 4x Marriott Rewards categories on the SPG business credit card that were not present in the email regarding the SPG personal credit card.
So if you are like me and having to decide whether to keep the SPG personal or the SPG business credit card, considering they will continue to have the same annual fee, hopefully the fact that the SPG business credit card earns twice as much as the SPG personal credit card at restaurants and gas stations makes your decision an easy one.
Let me know in the comments below what your plans are as far as keeping and/or closing your SPG personal and business credit card and how you came to that decision.