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You know the drill. A card comes up for renewal. The honeymoon is over, and you decide to cancel rather than pay the renewal fee. Well, that was all fine and well, because, in the back of your head you knew that after some waiting period, you could apply all over again.
But American Express changed all that, first, for personal cards, and later, for business cards – to the once in a lifetime rule.
Welcome bonus offer not available to applicants who have or have had this product.
But what does that mean, and what if I want the card back?
So, as everyone scurries in the final hours applying (or encouraging others to apply) for THE STARWOOD PREFERRED GUEST® BUSINESS CREDIT CARD FROM AMERICAN EXPRESS with its 35,000 “highest ever” sign-on bonus, I sit all alone in the corner sulking. Why did American Express deprive me of the right to (re)apply for a welcome bonus? Why couldn’t Amex impose this new draconian rule prospectively rather than retroactively? (oish, the lawyer in me is coming out!).
Honestly, it did not cross my mind that a benefit of the SPG Business Amex included access to the Sheraton Club Lounges – now that I am planning to stay at the Sheraton Lisboa, I think it might be a good idea to have this benefit (note: as a Gold SPG member, I might get upgraded to a Club level room, and therefore get Sheraton Club Lounge access, but there is no guaranty that I will be upgraded).
Clearly, if I’ve had the SPG Business American Express card previously, I can still apply for it a second time. I probably will not get the sign-on bonus (but maybe I’ll be lucky and get it?). I will still receive the benefits that go with the card, and that includes access to the Sheraton Club Lounge.
Here are some questions that I have. I’d really appreciate any information or insight you have.
- If I apply for the SPG Business Amex today – will my application be rejected because I previously had the card? I assume the answer is NO, my application will not be rejected on this basis. The question then is what will the terms of my acceptance be.
- Will I be offered the card, with its benefits, but not the 35K points? (I assume yes)
- Will there be a minimum spend requirement if I am not receiving welcome bonus points? (am I correct in assuming not?)
- Will I have to pay the initial $95 annual fee? (I have no idea).
- Assuming I can get the card, but without a sign-on bonus, and I have to pay the $95 fee – is this a worthwhile investment for two nights’ use of a Sheraton Club Lounge?
What do you think?
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.