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.