Yesterday, the new SPG Luxury card was launched – complete with 100,000 points, statement credit, benefits, and a hefty $450 annual fee. Most of those interested in it will need to apply before August 26 when new rules go into place. But, if you currently have the SPG regular card, you may be able to get a pretty good offer to upgrade to the SPG Luxury card.
Upgrade Offers for the Amex SPG Luxury Card Now Available
Link: SPG Luxury Card Upgrade Offers (must sign-in first and then click this link)
For most people, upgrading will not be something appealing unless you receive at minimum a 50,000 point offer. Of course, with a 100K point offer, that would make an upgrade almost a no-brainer (if you were interested in the card anyway).
It can make sense to upgrade to the SPG Luxury card to save a new account opening. An upgrade will preserve your credit card number and anniversary date. The annual fee would also be prorated, based on when you last paid your $95 annual fee on the SPG card.
Another nice thing is that the award night of the 50,000 points should be awarded to you based on your current anniversary date. That means if your anniversary is in December, you will be able to get that free night in December. That is a plus over applying for it as a new card and waiting the 1 year.
On the flip side, if the offer you receive is under 50,000 points, I would pass on it completely. Between 50,000 and 75,000 would be something to think about and I think an offer of 75,000 – 100,000 points is a strong offer to definitely consider. I was one of the many who received a measly “nothing” to upgrade – so obviously, I will not be doing that!
HT: Doctor of Credit