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If you have a bunch of credit cards, odds are good that you get emails every so often for bonus points if you spend a certain amount within a specified period. I’m not talking about the initial credit card sign-up bonus, but rather bonuses for incremental spend.
Card issuers analyze the spend patters of cardmembers, and based on that will often send our targeted deals. I get these offers every so often. Sometimes I think they’re worth taking advantage of, other times they’re not (my credit card strategy is complicated enough without having to keep track of these offers as well).
Well I just received a targeted spend bonus for the Starwood Preferred Guest® Credit Card from American Express, which I plan to take advantage of. Through this offer I can earn earn 10,000 bonus Starpoints if I spend $10,000 on the card by September 30, 2017.
Registration for the targeted offered is required by August 15, 2017. You can see if you’re eligible for the offer on this page. Again, it’s targeted, though you can log-in with your SPG account details to see if you’re targeted or not (in the past I’ve sometimes been targeted without actually having received the offer by email).
The SPG Amex is already one of the most rewarding out there for everyday spend, given that it offers one Starpoint per dollar spent, and I value those points at ~2.2 cents each. That means through this promotion I’d be getting a return of ~4.4% on spend, assuming I can spend $10,000 during the promotion period.
That’s a fairly high spend threshold, given that I have just over two months to complete the offer. Obviously it doesn’t make sense for me to put spend on this card when I could otherwise be earning 3-5x points per dollar spent with other cards in select categories. So I have to look at this offer in terms of the opportunity cost of spend, and therefore would want to use this card for non-bonused spend when I don’t otherwise have a credit card minimum spend to reach.
I’ll do my best to complete this offer, and if nothing else will pay my quarterly taxes on the card. I can pay my taxes by credit card for a fee of ~1.9%, so that’s like generating Starpoints for under a penny each.
Were you targeted for this SPG Amex spend promotion? If so, do you plan on taking advantage of it?