Best Rewards Credit Card Canada
The Starwood Preferred Guest Credit Card offers great value for those who want to exchange their points for hotel rooms. Free nights can be earned with just a few thousand points. The requirements for the card are pretty low. As a result almost anyone can enjoy the privilege of earning Starpoints for free hotel rooms. Thats why we think the Starwood Preferred Guest Credit Card is the Best Rewards Credit Card Canada.
Starwood Preferred Guest Credit Card Review:
Interest Rate: 19.99%
Annual Fee: $120
Supplemental Card Fee: $50
Rewards: 1 Starpoint for every $1 spent on the card
Redemption: Redeem Starpoints for free hotel rooms. Depending on the class of the hotel the number of points/night varies (details below).
– Must have individual income of +$15k
– Must not have filed for bankruptcy in the last 7 years
Signup Bonus! There is currently a sign up bonus of 10,000 Starpoints. This is enough for 2-3 free nights in a category 1-2 hotel. The requirement is $500 in spending within the first three months of use.
Referal bonus! Another interesting perk is that you get a referral bonus of 5,000 Starpoints for each referral you make. So if you recommend this card to a friend they get 10,000 points for a sign up bonus and you get 5,000 points for a referral bonus!
Get your 5th night free! When using your Starpoints to book hotel rooms you’ll be able to get the 5th night for free when booking hotels in categories 3 to 7. Thats like getting an extra 25% boost on the value of your points.
Travel perks! You also get a few travel perks with this card. For more details visit the American Express website.
– Travel Emergency Assistance
– $500,000 Travel Accident Insurance
– Complimentary Car Rental Theft and Damage Insurance
– Buyer’s Assurance® Protection Plan
– Purchase Protection® Plan
None that we could see. But if you have feedback/experience with extra fees on this card please add your feedback in the comments below.
The redemption rate is very good on this card. The number of points required for a room varies according to the level.
To check out what you can get for your points just visit the SPG website for more details.
As an example we tried to book a room in New York, New York for two weeknights. To see if the value offered by these free nights is truly what they claim we also tried to book the same room using expedia.ca.
In this example the redemption rate is 20,000/night and according to Expedia that same room would cost you ~$413/night. Thats a value of over $0.02/point!
You can get even more value by booking 4 nights in which case the 5th night is free when you book a category 3-7 hotel. Using the example above you would get a value of $2,065 for just 80,000 points, or about $0.026/point.
The redemption rate is excellent on this card which is one of the reasons we feel its the Best Rewards Credit Card Canada. Of course the redemption rate will vary depending on the hotel you book and the time of year you travel. But either way you can definitely get a lot of value from this rewards card.
Another interesting redemption option is conversion to travel rewards miles. The conversion rates vary but there is a 5,000 Starpoint bonus if you transfer 20,000 points.
There are also other ways to redeems points. Here are some of the other ways you can redeem your points, for more details visit the SPG website.
- Redeem for flights
- Bid on unique experiences via SPG Moments
- Redeem for Gift Card/Certificates at SPR Partners
Best Rewards Credit Card Canada: Final Thoughts
The Starwood Preferred Guest Credit Card is a great rewards card for those who would like to redeem points for hotel rooms. The points can accumulate quickly at 1 point per $1 spent plus the redemption rate is fantastic when being exchanged for hotel rooms. The extra bonus of getting your 5th night free is just icing on the cake.