MBNA SPG Credit Card Discontinued?

It’s official folks, with great disappointment MBNA Canada has officially discontinued its popular Starwood Preferred Guest (SPG) Credit card (thanks to Nabeel for the heads up). For those of you who are fairly new to the blog, the MBNA SPG credit card is my favorite credit card and I use it for every purchase possible. When points are redeemed prudently, the return on money spent can be upwards of 6%.

Here is the official news from flyertalk:

As of August 31, 2009 SPG will no longer offer the SPG MasterCard from MBNA in Canada. SPG is creating an exciting new credit card that will be announced soon on spg.com.

You will continue to be able to earn Starpoints and receive benefits as you normally do through February 28, 2010 on your current SPG/MBNA MasterCard. Sometime between March 1 – March 30, 2010, MBNA will send current SPG/MBNA cardholders a new MBNA credit card and the account will automatically transition to that new credit card. It will not, however, earn Starpoints as bonuses or from usage.

If you have any other questions about your current account, please call MBNA at 888-877-6262.

Pulling info from the quote above, existing card holders have until the end of February to collect points and will be issued a new MBNA credit card shortly after.  Rumor has it that SPG will continue its relationship in Canada, but it is unknown as to who the credit card issuer will be.

If the new credit card issuer is reading, this is what I would like to see in the new card:

  • Signup bonus
  • $1 point for every dollar spent (right now only bonuses make it $1 for every $1 spent)
  • No annual limit (currently $30k limit to receive bonuses)
  • No annual fee (must)
  • Same insurance package – Purchase assurance, extended warranty, car rental insurance.

I guess it’s time to move onto my cash back credit card come February if the new card doesn’t meet the high standards of the current SPG credit card.

Do you use the SPG credit card?  If so, what card will you move onto next?

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Ray
11 years ago

Ok, the information is out. Looks like $120/year annual fee with the AMEX. I’m waving Goodbye to the SPG program I guess. It was nice to have a free way to slowly gather SPG points, but I guess it was too good. Off to the Smart Cash card.

Ray
11 years ago

Oops, you are right the conversion goes the other way around. And points.com is a horrible option.

Ray
11 years ago

Yes you can. Aeroplan miles can be converted into Starpoints by logging into Aeroplan, clicking on Earn Miles | Conversion Programs | Travel | Starwood.

You can also convert Reward Miles into Starpoints. No shocker that Reward Miles is the program used by AMEX. Aaargh.

David
11 years ago

Ray: Agree – trying to use Amex as the main credit card is a pain in the butt. You raise an interesting point about conversions. I see that it’s possible to convert Starpoints into Aeroplan, but not the other way around. Is it possible to convert ANYTHING into Starpoints? SPG seems to have the best hotel deals.

Ray
11 years ago

An AMEX piece of crap? Has anyone done the analysis on how many of the typical Canadian vendors that we bill pay, etc, can not be done on an AMEX? That would be a great post – a post showing that a Canadian cannot survive with *just* an AMEX because it is not accepted at X number of places. So now we have to do some hybrid thing? This AMEX for Front-of-the-line and whatever place will accept it and then the next best cash-back Visa/Mastercard for everything else. Given that several other programs convert to starpoints now at 1:1 like Aeroplan Miles, do we have some options there for our 2nd card?

Daniel McLaren
11 years ago

I just got the email as well and it looks like I’ll be shopping for a new card. Fail.

David
11 years ago

SPG has announced a few details on the new Amex card scheduled to be released in Q1.

http://www.spgpromos.com/canada_creditcard/

coachdave
11 years ago

This is ridiculous…don’t know who to blame more MBNA or Starwood.

This was a great No Fee card…I wouldn’t be with MBNA otherwise…their credit card information was compromised last year as well when a new card was issued to me. Is this a regular occurrence at MBNA?

The new Card needs to be NO FEE. For the love of God, do not make it an Amex…other than Costco who in the hell accepts American Express??

If the new Starwood Credit card is Amex or has a hefty fee, I’m considering the Marriot Rewards Visa. I haven’t run the numbers yet, but I have enjoyed my Marriot stays and the rewards are easy to redeem and tie in with the places we visit. Thanks for this blog – I’ll keep watching for updates… I hope those idiots at MBNA and SPG read these posts. I’m sure the Hyatt Gold and Marriott folks are happy.

CreditCard Junkie
11 years ago

I will probably switch to the Shopper Optimum MasterCard it is offered by MBNA and should be easy to switch over plus It is anywhere between 3-6% cash bach depending on shopping habits at and outside of Shoppers Drug Mart