As one of my entertainment industry friends tells me, swag means "stuff we all get."

While the card has been useful in getting into lounges overseas, I don't see any benefit in the bag tag. Never had any issues with getting into the Sky Priority line and when they do check, they ask to see a ticket. I wouldn't want my SM number printed on it because a bad actor can get the number (likewise having your home address on the tag is not a good idea). I think a drink voucher--or a pair of socks--is a better value.