3 Best Everyday Credit Cards to Replace Your SPG Card
Today marks the day when the SPG card goes from the front of your wallet to the bottom of your trash bin. The everyday beast that was a favorite among many has been neutered. The earning rate on the SPG Personal & Business card has been cut by 1/3. It went from one of the most valuable everyday cards out there to worse than a Quicksilver card in the blink of an eye. We knew this was coming but now it is time to turn the page and to move on. Let’s take a look at the best everyday credit cards to replace your SPG credit card spend.
Top 3 Options
I will get the most obvious option out of the way. The best option will always be a card where you have minimum spend remaining. Welcome bonuses can bring you a return of up to 40%. There isn’t a card out there that can compete with that. But this isn’t the old days of getting cards whenever you want to. You have to be able to earn points via strategic spend now.
I ranked these based on overall point valuations using Frequent Milers’ Reasonable Redemption Valuations. Remember these are based on averages and that you should plug in your own evaluations since certain points won’t work for you. Now let’s take a look.
#1 – Blue Business Plus
The King, or Queen, of the everyday market is the Blue Business Plus. This was the case even before the SPG hammer dropped. The card earns 2X transferrable Membership Rewards points per dollar which FM values at 1.82 cents a piece. Be sure to plug in your own valuations in these calculations because if you don’t value MR points this wouldn’t make sense for you. Having said that most people can expect an average of 3.64% back on every dollar of spend. That is the tops of the market right there and earns it the number one spot. Doctor of Credit reports some people may be targeted for a 20,000 point welcome bonus. If you are not targeted there is currently a 10,000 point public offer. Click Here to compare this and other business credit cards.
Average Return – 3.64%
#2 – Hotel Credit Cards with Spending Bonuses
I cheated a little bit with the number two spot and I am going to give you a twofer. There are two hotel cards I am currently using for my everyday spend until I reach the $15,000 threshold. That is because they each offer a free night after $15,000 in spend. The cards I am talking about are the Chase World of Hyatt card and the American Express Hilton Honors Ascend card.
World of Hyatt points are valued at 1.74 cents a piece. When you spend $15,000 on the World of Hyatt credit card in a cardmember year you earn a category 1-4 free night. That is like getting another 15,000 points to me. Because of that you are essentially earning 2 points per dollar on your first $15,000 in spend, netting you a return of 3.48% on your first $15,000 in non bonus spend. Click Here to compare this and other hotel credit cards.
Hilton Honors points are valued at 0.45 cents a piece and the Hilton Ascend card earns 3 points per dollar on non bonus spend. That is a return of 1.35% per dollar which isn’t all that great. But, if you spend $15,000 in a calendar year you earn a weekend free night that does not have a category cap. You can use it for rooms that cost up to 95,000 points. I will cap the value at 60,000 points since you probably won’t be able to max it out every year. Those 60,000 points add 1.8% in value to your spend. When added together you have a return of 3.15% on your first $15,000 in non bonus spend. Click Here to compare this and other hotel cards.
Everything said above for the Ascend would also apply to the Hilton Business card.
Average Return 3.15%-3.48%
#3 – First Year Cash Back Options
There are two cards where you can earn 3% back on every dollar of spend in your first year of card membership. That would be the Discover It and the Alliant Visa.
The Alliant card earns a flat 3% the first year and then the rate drops to 2.5% in year two and beyond. The $59 annual fee is waived in year one as well. Direct Link
The Discover It card earns 1.5% back but earnings are doubled at the end of the first year. That gives you a 3% return overall. This card is not as good as the Alliant card since it is delayed in it’s payout. The rate also drops to 1.5% after year one instead of Alliant’s 2.5%.
Average Return – 3%
If you were a heavy user of the SPG cards then this is a sad day. I hope I was able to alleviate your pain some by offering some options to replace your everyday go to. Some would say these options will actually offer you a better overall return.
Let me know what your plan is going forward in the comments section.