Originally Posted by
SkiAdcock
I've never been a big believer in holding onto points & accumulating a gazillion of them, whether airline or hotel & regardless of airline/hotel chain. I tend to earn & use (usually for int'l F class air or top level hotels). I always assume there will be some type of devaluation.
Generally, I agree, of course.
Now, with Marriott/Hyatt/Hilton/dedicated FF miles all being captive, burn asap from year to year.
However, the value of the Amex SPG for general spend (which may be considerable when used for personal and business expenditures) creates the ability to earn more rewards than one may use in a given year. From year to year, this surplus accrues.
The SPG program is similar to UR/MRs, a general rewards program where the devaluation risk was tempered by the flexibility to transfer to multiple partners. No program had (1) as many FF partners as SPG, and (2) offered a 25% bonus. This would have likely remained, as it always has, if SPG remained independent.
That SPG was both a hotel and UR/MR program made it unique and best in class. Even discounting the hotel rewards, SPG was a better general rewards program than either UR/MR.