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?If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).