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Starwood Preferred Guest® Business Credit Card

• Earn 10,000 Starpoints with your first purchase - that’s good for up to 3 free nights!
• Earn 1 Starpoint for virtually every dollar you spend on the Card
• Redeem at over 825 participating Starwood hotels and resorts worldwide with no blackout dates
• Transfer to over 30 frequent flyer programs, most on a one-to-one basis
• Save on business purchases at companies like FedEx® and Hertz®
• Fee-free for your first year

Just The Facts –

Issuer :  American Express

Introductory APR :  2.90%

Introductory Period : 6 months

APR After Introductory Period :  18.24%

Cash Advance APR :  23.24%

Annual Fee : First year free and then $30 afterwards.

Credit Line Possible : $100,000

Insurance included : The Starwood Preferred Guest Business Credit Card Auto proffers rental insurance, a purchase protection plan, extended warranty, return protection, identity theft protection and up to $100,000 in travel accident insurance.

Financing Configuration – Interest is calculated on your average daily balance (including purchases made on the day of purchase).

Grace Period – You have twenty days after making a purchase during which you do not have to pay interest.

The Best Thing About It— Starwood Preferred Guest® Business Credit Card has a flexible and user friendly rewards program that gives you the equivalent of three free hotel stays by giving you 10,000 points on your first purchase.

The Worst Thing About It – This card has an extremely high regular APR that makes it very impractical for carrying a balance. Taking out cash advances using the Starwood Preferred Guest Business Credit Card is prohibitively expensive.

Credit Rating Needed For Acceptance :  Good credit.

Who Is It For?

The Starwood Preferred Guest Credit Card from American Express is designed for business travelers with good credit who frequently stay at Starwood hotels and resorts and plan to take advantage of the various benefits and services that are provided.

The Starwood Preferred Guest Business Credit Card is not available to residents of Puerto Rico.

 

The Benefits

 

Earn 10,000 points on your first purchase! That is good for three free nights in a Starwood hotel.

You can redeem your points at over 800 Starwood locations.  There are no black out dates or restrictions.

The rewards program is generous! Points can be redeemed for various business and travel services, such as Hertz, Fed Ex and Kinko’s.

You can transfer the points Starwood Preferred Guest® Business Credit Card to many different frequent flier programs. Transfer points into 30 frequent flyer programs—1 point for 1 airline mile with most programs.

There are no black out dates for points.  Starpoints can be transferred to over 30 major airlines. There are no blackout dates and free nights start as low as 2,000 points.

Track all of your expenses on one statement.  Online access to this statement to your account is also provided so you can stay on budget.  The Starwood Preferred Guest Business Credit Card comes with an online account that provides the convenience of paying your credit card bill online.

You can print out a Year End Summary for Tax Purposes. You can download a summary of your Starwood Preferred Guest Business Credit Card expenses and payments over the year.  Your Year End Summary is an indispensable tool for preparing taxes and budgeting. You may also receive a paper Year End Summary in the mail by calling the number on the back of your Starwood Preferred Guest Business Credit Card.

You have a Return Protection Plan. If you try to return an item (within 90 days from the date of purchase) and the merchant refund you, American Express will refund the full purchase price, up to $300 per item.

You have extra protection from theft or loss of your card while traveling.  American Express provides quick emergency cash and emergency card replacement should your card be stolen.

You have a great deal of travel insurance. This card offers $100,000 in travel insurance.

The card comes with a Global Assist Hotline. Whenever you travel more than 100 miles from home, you have security and peace of mind 24/7 with medical, legal, financial or other emergency assistance, including medical and legal referrals, visa/passport help, cash access, lost luggage and more.

The Starwood Preferred Guest Business Credit Card offers a Baggage Assurance Plan. This plan covers up to up to $1,250 for carry-on baggage and $500 for checked baggage in the event it is lost or stolen.

No liability for unauthorized Internet transactions.  You will not be charged for fraudulent use of your credit card online. Most cards charge $50 for this.

 

The Drawbacks

 

You must use your card to maintain the points or they will expire. If you do not use your card in one year, your points will be taken away.

The APR is high. The standard APR for purchases is above average for an airline reward card and not ideal for those who plan to carry a revolving balance.

The grace period for the Starwood Preferred Guest Business Credit Card is short. You only have twenty days to pay without interest.

Monthly payments are applied to purchases first.  The amounts that you pay monthly are not applied to the highest interest garnering activities such as taking out a cash advance.  This can make it longer to pay off your debt.

The Return Coverage is limited. Coverage is limited to $300 per item, excluding shipping and handling, and up to a maximum of $1,000 annually per Card Account and is subject to additional Terms, Conditions and Exclusions.

 

Fees To Watch Out For

Late payment fee:  $15 on balances up to $100; $29 on balances of $100 through $1,000; $35 on balances over $1,000

Over the Limit Fee: $30

Duplicate card fee:  $35

Cash Advance Fee: 3%, $5 minimum for Express Cash transactions

 

To Summarize –

The Starwood Preferred Guest Business Credit Card is best for those who stay at this hotel chain frequently.  It is not a good card for carrying a balance or taking out cash advances but it is excellent for tracking business expenses.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
2.90%	6 months	18.24%	First year free then, $30	Yes	Good Credit