SPG vs. Membership Rewards vs. Ultimate Rewards vs. ThankYou (before October 2014)
Updated August 29, 2014. For the updated review, please see here.
In this review we will compare four most popular and versatile rewards programs in the market. They are similar in that their points can be transferred into miles/points of a number of frequent traveler programs (airlines/hotels).
Starwood Preferred Guest (SPG)
Starwood Preferred Guest (SPG) is the frequent guest program of Starwood Hotels and Resorts Worldwide whose hotel portfolio includes St. Regis, The Luxury Collection, W, Le Meridien, Westin, Sheraton, aloft, element, Four Points by Sheraton. SPG points can be very valuable when redeemed for hotel stays in Starwood hotels. Here we don't want to go into details of hotel redemption, please visit spg.com for more information.
SPG points can also be redeemed for merchandise gift cards or direct flight booking. However these options generally does not represent the best value. Other than hotel redemption, SPG points can be extremely valuable when transferred into miles of 29 frequent flyer programs:
Membership Rewards (MR) from American Express
On the earning side, you earn one extra point for each dollar spent on travel booked through MR; however, Amex charges a booking fee on airfare so most likely it is not a good deal. Amex used to have a shopping portal that allowed you to earn up to 10X bonus points; however, it was closed in 2013.
On the redemption side, MR points can be redeemed for merchandise, gift cards, travel (Pay with Points), and so on, at up to 1 cent per point. However, some cards are eligible for a transfer feature that allows points to be transferred to over 20 frequent traveler programs. Let's look at these two groups:
MR points can be transferred into miles of 17 frequent flyer programs:
Three Ways of Using MR points for Airfare: In addition to the aforementioned two options to redeem MR points for airfare - Pay with Points (fixed value, 1 cent per point) and the transfer feature, Amex also offers certificates for economy tickets for the following airlines: Cathay Pacific, Swiss, Qantas, and South African Airways. Note that they (except Swiss) are not transfer partners: you can't transfer MR points to their miles but you rather use a bulk of points in exchange for certificates that can be used for economy tickets (or companion tickets). The use of certificates is not subject to capacity control and you can actually earn miles on them. There is no certificates for business or first class tickets.
For example, using the certificate a round-trip economy ticket on Swiss from SFO/LAX to Europe costs 65K points no matter how much the revenue ticket actually costs. If you use Pay with Points feature and the revenue ticket costs $1,000, you will need 100K points. For comparison, if you want to use Swiss' own frequent flyer program - Miles and More, which by the way is a transfer partner of SPG, it will cost 50K miles plus fuel surcharge (which can be as high as, say $400) and is subject to capacity control.
Ultimate Rewards (UR) from Chase
Chase Ultimate Rewards (UR) is a knock-off of Amex Membership Rewards. On the earning side, you earn one extra point for one dollar spent on airfare booked through UR, but unlike Amex, Chase does not charge a booking fee. You also earn up to 10x points when shopping through UR.
The regular UR program allows redemption for merchandise, gift cards, cash, and travel, at up to 1 cent per point. However, premium UR cards including Sapphire Preferred ($95), JPM Select ($95), JPM Palladium ($595), and Ink Bold/Plus ($95), have two premium redemption features: one is 25% bonus to travel redemption via UR (1 point = 1.25 cent); the other is to transfer points into miles/points of frequent traveler programs. Just like MR, transfer from UR to miles/points is instantaneous. Also like MR, if you have a regular UR card such as Freedom and another premium UR card such as Sapphire Preferred, you can pool all UR points together and enjoy the premium features. You can transfer your UR points to the UR account or a frequent traveler account under your spouse's or domestic partner's name. Points transfer to third parties is prohibited. Currently, UR has much fewer transfer partners than SPG or MR, and we expect the list will get longer in the future.
ThankYou (TY) from Citi
For several years, Citi's ThankYou Rewards (TY) has really been lagging behind with only one transfer partner Hilton HHonors, and we are excited to see that Citi finally introduced several airline partners in July 2014. Now we are placing TY alongside with SPG, MR, and UR for this comparison. Currently there is no points earning for shopping with Citi.
The regular TY program allows redemption for merchandise, gift cards, statement credit, and travel, at up to 1 cent per point. However, premium TY cards including Citi ThankYou Premier, Citi Prestige, and Citi Chairman, have a transfer feature similar to SPG, MR, and UR, that allows ThankYou points to be transferred to frequent traveler programs. If you have a regular TY cards such as ThankYou Preferred or the grandfathered in Citi Forward, you may pool all your points together and the points earned through the regular TY cards become eligible for transfer. You may share your TY points with someone else; however, the shared points will expire in 90 days. You can only transfer your TY points to a frequent traveler account under your name. Citi currently has much fewer transfer partners than SPG and MR, but we hope it will expand the list in the future.
The Comparison Chart: SPG vs. sMR vs. UR vs. TY vs
In this review we will compare four most popular and versatile rewards programs in the market. They are similar in that their points can be transferred into miles/points of a number of frequent traveler programs (airlines/hotels).
Starwood Preferred Guest (SPG)
Starwood Preferred Guest (SPG) is the frequent guest program of Starwood Hotels and Resorts Worldwide whose hotel portfolio includes St. Regis, The Luxury Collection, W, Le Meridien, Westin, Sheraton, aloft, element, Four Points by Sheraton. SPG points can be very valuable when redeemed for hotel stays in Starwood hotels. Here we don't want to go into details of hotel redemption, please visit spg.com for more information.
SPG points can also be redeemed for merchandise gift cards or direct flight booking. However these options generally does not represent the best value. Other than hotel redemption, SPG points can be extremely valuable when transferred into miles of 29 frequent flyer programs:
- Air Canada Aeroplan (1:1)
- Air Berlin TopBonus (1:1)
- Air China Companion (1:1)
- Air New Zealand & Air Points (65:1)
- Alaska Airlines Mileage Plan (1:1)
- Alitalia MilleMiglia (1:1)
- All Nippon Airways (ANA) Mileage Club (1:1)
- American Airlines AAdvantage (1:1)
- Cathay Pacific Asia Miles (1:1)
- Asiana Airlines Asiana Club (1:1)
- British Airways Executive Club (1:1)
- Delta Air Lines SkyMiles (1:1)
- Emirates Skywards (1:1)
- Flying Blue by Air France and KLM (1:1)
- Hawaiian Airlines (1:1)
- Japan Airlines Mileage Bank (1:1)
- Kingfisher Airlines King Club (1:1)
- LAN LANPASS (1:1.5)
- Mexicana Frecuenta (1:1)
- Miles and More (1:1)
- Qatar Airways (1:1)
- Saudi Arabian Airlines Alfursan (1:1)
- Singapore Airlines KrisFlyer (1:1)
- Thai Airways International Royal Orchid Plus (1:1)
- US Airways Dividend Miles (1:1)
- United Airlines Mileage Plus (2:1)
- VARIG Smiles (2:1)
- Virgin Atlantic Flying Club (1:1)
Membership Rewards (MR) from American Express
On the earning side, you earn one extra point for each dollar spent on travel booked through MR; however, Amex charges a booking fee on airfare so most likely it is not a good deal. Amex used to have a shopping portal that allowed you to earn up to 10X bonus points; however, it was closed in 2013.
On the redemption side, MR points can be redeemed for merchandise, gift cards, travel (Pay with Points), and so on, at up to 1 cent per point. However, some cards are eligible for a transfer feature that allows points to be transferred to over 20 frequent traveler programs. Let's look at these two groups:
- Not eligible to transfer points: Blue ($0), Blue Business ($0), Zync ($25); however, if you have another card that has the transfer feature, all your MR points will be pooled together and all of them will be eligible to transfer points.
- Eligible to transfer points: EveryDay ($0), EveryDay Preferred ($95), Membership Rewards Business Card ($75), Green ($95), Business Green Rewards ($95), Gold ($125), Ameriprise co-branded Gold ($125), Premier Rewards Gold ($175), Business Gold Rewards ($175), Mercedes-Benz Credit Card ($95), Platinum ($450), Business Platinum ($450), Mercedes-Benz co-branded Platinum ($475), Ameriprise co-branded Platinum ($450), Morgan Stanley co-branded Platinum, Goldman Sachs co-branded Platinum, Centurion ($2,500).
MR points can be transferred into miles of 17 frequent flyer programs:
- AeroMexico (1:1)
- Air Canada Aeroplan (1:1)
- Alitalia MilleMiglia (1:1)
- All Nippon Airways (ANA) Mileage Club (1:1)
- British Airways Executive Club (1:1)
- Cathay Pacific Asia Miles (1:1)
- Delta Air Lines SkyMiles (1:1)
- EL AL Israel Airlines Matmid Club (50:1)
- Emirates Skywards (1:1)
- Flying Blue by Air France and KLM (1:1)
- Frontier EarlyReturns (1:1)
- Hawaiian Airlines (1:1)
- Iberia Plus (14:1)
- JetBlue TrueBlue (1.25:1)
- Singapore Airlines KrisFlyer (1:1)
- Virgin America Elevate (2:1)
- Virgin Atlantic Flying Club (1:1)
- Best Western Rewards (1:1)
- Choice Privileges (1:1)
- Hilton HHonors (1:1.5)
- Intercontinental Priority Club (1:1)
- Jumeirah Sirius (23:1)
- Starwood Preferred Guest (3:1)
Three Ways of Using MR points for Airfare: In addition to the aforementioned two options to redeem MR points for airfare - Pay with Points (fixed value, 1 cent per point) and the transfer feature, Amex also offers certificates for economy tickets for the following airlines: Cathay Pacific, Swiss, Qantas, and South African Airways. Note that they (except Swiss) are not transfer partners: you can't transfer MR points to their miles but you rather use a bulk of points in exchange for certificates that can be used for economy tickets (or companion tickets). The use of certificates is not subject to capacity control and you can actually earn miles on them. There is no certificates for business or first class tickets.
For example, using the certificate a round-trip economy ticket on Swiss from SFO/LAX to Europe costs 65K points no matter how much the revenue ticket actually costs. If you use Pay with Points feature and the revenue ticket costs $1,000, you will need 100K points. For comparison, if you want to use Swiss' own frequent flyer program - Miles and More, which by the way is a transfer partner of SPG, it will cost 50K miles plus fuel surcharge (which can be as high as, say $400) and is subject to capacity control.
Ultimate Rewards (UR) from Chase
Chase Ultimate Rewards (UR) is a knock-off of Amex Membership Rewards. On the earning side, you earn one extra point for one dollar spent on airfare booked through UR, but unlike Amex, Chase does not charge a booking fee. You also earn up to 10x points when shopping through UR.
The regular UR program allows redemption for merchandise, gift cards, cash, and travel, at up to 1 cent per point. However, premium UR cards including Sapphire Preferred ($95), JPM Select ($95), JPM Palladium ($595), and Ink Bold/Plus ($95), have two premium redemption features: one is 25% bonus to travel redemption via UR (1 point = 1.25 cent); the other is to transfer points into miles/points of frequent traveler programs. Just like MR, transfer from UR to miles/points is instantaneous. Also like MR, if you have a regular UR card such as Freedom and another premium UR card such as Sapphire Preferred, you can pool all UR points together and enjoy the premium features. You can transfer your UR points to the UR account or a frequent traveler account under your spouse's or domestic partner's name. Points transfer to third parties is prohibited. Currently, UR has much fewer transfer partners than SPG or MR, and we expect the list will get longer in the future.
- British Airways Executive Club (1:1)
- Korean Air SkyPass(1:1)
- Singapore Airlines KrisFlyer (1:1)
- Southwest Airlines Rapid Rewards (1:1)
- United Airlines Mileage Plus (1:1)
- Virgin Atlantic Flying Club (1:1)
- Hyatt Gold Passport (1:1)
- Marriott Rewards (1:1)
- Intercontinental Priority Club (1:1)
- Ritz-Carlton Rewards (1:1)
- Amtrak Guest Rewards (1:1)
ThankYou (TY) from Citi
For several years, Citi's ThankYou Rewards (TY) has really been lagging behind with only one transfer partner Hilton HHonors, and we are excited to see that Citi finally introduced several airline partners in July 2014. Now we are placing TY alongside with SPG, MR, and UR for this comparison. Currently there is no points earning for shopping with Citi.
The regular TY program allows redemption for merchandise, gift cards, statement credit, and travel, at up to 1 cent per point. However, premium TY cards including Citi ThankYou Premier, Citi Prestige, and Citi Chairman, have a transfer feature similar to SPG, MR, and UR, that allows ThankYou points to be transferred to frequent traveler programs. If you have a regular TY cards such as ThankYou Preferred or the grandfathered in Citi Forward, you may pool all your points together and the points earned through the regular TY cards become eligible for transfer. You may share your TY points with someone else; however, the shared points will expire in 90 days. You can only transfer your TY points to a frequent traveler account under your name. Citi currently has much fewer transfer partners than SPG and MR, but we hope it will expand the list in the future.
- Cathay Pacific Asia Miles (1:1)
- EVA Air Infinity MileageLands (1:1)
- Etihad Guest (1:1)
- Flying Blue by Air France and KLM (1:1)
- Hilton HHonors (1:1.5)
- Garuda Indonesia Frequent Flyer (1:1)
- Malaysia Airlines Enrich (1:1)
- Qatar Airways Privilege Club (1:1)
- Singapore Airlines KrisFlyer (1:1)
- Thai Airways Royal Orchid Plus (1:1)
The Comparison Chart: SPG vs. sMR vs. UR vs. TY vs
| SPG | Membership Rewards | Ultimate Rewards | ThankYou | |
| Credit Cards | Amex SPG, Amex SPG Business | Blue*, Zync*, EveryDay, EveryDay Preferred, Green, Gold, PR Gold, Platinum, Centurion; Business Blue*, MR Business, Business Green, Business Gold, Business Platinum | Freedom*, Sapphire*, Sapphire Preferred, JPM Select, JPM Palladium; Ink Classic*, Ink Cash*, Ink Bold, Ink Plus | ThankYou Preferred*, Forward*, AT&T*, ThankYou Premier, Prestige, Chairman; Business ThankYou* |
| Airlines | 29 | 17 | 6 | 9 |
| Hotels | 1 | 6 | 4 | 1 |
| Amtrak | Yes | No | Yes | No |
| Transfer Rate** | 1:1 but 1:1.25 for 20K bulk transfer | 1:1 but can be better if there is a promotion | 1:1 | 1:1 |
| Transfer Lag | Days or weeks | No Lag | No Lag | TBD |
| Transfer Surcharge | None | 0.06 cent per 1 point for domestic airline partners up to $99 | None | None |
| Allow points transfer between accounts? | Household member | No | Spouse or domestic partner | Anyone, but shared points expire after 90 days |
| Allow points transfer to a FF account other than yours? | No | Authorized user | Spouse or domestic partner | No |
| Unique Partners | American, US Airways, Alaska, LAN, Asiana, Japan, and 8 more | AeroMexico, El Al Israel, Frontier, Iberia, JetBlue, Virgin America, Best Western, Jumeirah | Southwest, Korean Air, Hyatt, Marriott | Malaysia, Etihad, Garuda, EVA |
| Airfare Booking Bonus | NA | 1 extra point with booking fees | 1 extra point | NA |
| Online Shopping Bonus | NA | NA | up to 10x | NA |
