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Reader @GaddielTan asked the following question on Twitter:
I already have the Blue Cash Preferred® Card from American Express. Am torn between getting the Starwood Preferred Guest® Credit Card from American Express or the Amex EveryDay® Preferred Credit Card next. What do you think?
The Amex EveryDay Preferred is best for everyday spend
Nowadays a vast majority of my credit card spend goes on the Amex EveryDay Preferred, because I truly find it to offer one of the most compelling returns. The card offers the following bonus categories:
- 3x points at US supermarkets (on up to $6,000 of spend per year)
- 2x points at US gas stations
- 1x point per dollar spent on everything else
- 50% bonus when they make at least 30 purchases per billing cycle
So assuming you make 30 transactions per billing cycle (which triggers the 50% bonus), you’d be earning the following number of points:
- 4.5x points at supermarkets (on up to $6,000 of spend per year)
- 3x points at gas stations
- 1.5x points on everything else
That return on supermarkets and gas stations is huge — arguably the best offered by any card — but I’d say the best part is the return on everyday, non-bonused spend.
I value American Express Membership Rewards points at 1.8 cents each, so to me earning 1.5 of those points per dollar spent is the equivalent of a return of 2.7%. That’s a huge return, and the best of any card out there, in my opinion.
The SPG Amex offers the more compelling sign-up bonus
This card is offering a promotional sign-up bonus of 30,000 bonus Starpoints after making $3,000 of purchases within the first three months. That sign-up bonus is 5,000 Starpoints more than usual, and comes at a time when the card’s benefits are already being refreshed.
Meanwhile the Amex EveryDay Preferred offers an incredible return on everyday spend, though doesn’t have an amazing sign-up bonus. It offers 15,000 Membership Rewards points after spending $1,000 within the first three months.
Which card would I get first?
I think the math on this one is pretty straightforward. The sign-up bonus on the SPG Amex is 5,000 Starpoints higher than usual. We likely won’t see that sign-up bonus for another year (and it’s no guarantee it returns next year). Assuming those marginal 5,000 Starpoints are more than the additional points you’d earn spending on the Amex EveryDay Preferred in the meantime, I’d say you’re best off applying for it now. And assuming you plan on getting both cards eventually, I think that’s most likely the case.
Or otherwise you can always apply for the Amex EveryDay Preferred and the Starwood Preferred Guest® Business Credit Card from American Express around the same time, and could be approved just a few days apart.
I’d absolutely pick both of them up, though might go with the Starwood credit card first, given the increased sign-up bonus which is only available through the middle of this month. But it shouldn’t be too tough to pick up both a personal and business Amex card around the same time, so that’s one other approach to take.
Which would you apply for in @GaddielTan’s shoes — the EveryDay Preferred or SPG Amex?