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Answers (8)

Should I buy SPG points through Plastiq

Should I buy SPG points through Plastiq

  1. FlyerDad

    Hello Lucky: I have well over a million points, mostly Chase and Amex (500,000 each), 350k AA and 300 Alaska.

    I have always coveted SPG points because they are so useful–SPG experiences and unusual flight partners like JAL and Miles & More. With the Plastiq promotion, you can purchase SPG points at 1.25 cpm (pre-transfer), and 1 cpm if you transfer to an airline program. Due to a home remodel, I can probably charge $150,000-200,000 with my SPG small business card (the max is $250,000) which would result in 300,000-400,000 SPG points!

    My question is–do you think it’s worth it? I’ve never purchased a point before–it’s all been through CC sign-ups, flying and spend. I would really value your opinion on whether it’s worth it. I don’t have an immediate use and I don’t want to hoard hundreds of thousands of miles, but on the other hand, the opportunity to earn so many so quickly seems unprecedented. Thank you very much for your thoughts.

  2. MarkS

    My personal opinion is I would absolutely do it. As you rightly show, you’re cost is 1 cent per point on a transfer. (You can even get more by doing the SPG-Marriott-Stay and Miles promos.) At 1cent per point you can easily get 6-8 cents per point on a premium travel ticket.

    Having said all of that you are holding a lot of points and the longer you hold them the less they will be worth with devaluations.

    This is pure speculation today, but I can see a way in the future to turn 300,000 SPG points into 750,000 points for a certain program. Think about it.

  3. Luis

    no brainer, do it. But I would also try to spend some of your other points ASAP.

  4. Anonymous

    Yeah, I’m definitely a buyer of SPG points at 1.25¢ each, especially at a volume!

  5. Gaurav

    As long as you have the cash flow to support It, it’s a great opportunity.

  6. FlyerDad

    Thanks everyone for the feedback. I’m going to do it. And Mark, I can’t figure out the 2.5x redemption you have in mind–any hints?

  7. FlyerDad

    [QUOTE=”MarkS, post: 23203, member: 2121″]My personal opinion is I would absolutely do it. As you rightly show, you’re cost is 1 cent per point on a transfer. (You can even get more by doing the SPG-Marriott-Stay and Miles promos.) At 1cent per point you can easily get 6-8 cents per point on a premium travel ticket.

    Having said all of that you are holding a lot of points and the longer you hold them the less they will be worth with devaluations.

    This is pure speculation today, but I can see a way in the future to turn 300,000 SPG points into 750,000 points for a certain program. Think about it.[/QUOTE]

    Any hints?

  8. Gaurav

    I’m assuming a conversion to Marriott and nights and flights?

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