Update: This offer is expired.

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There is a rumor going around, which seems to be highly plausible, that the signup bonus on the Starwood Preferred Guest® Credit Card from American Express, will be very shortly, substantially lowered to just a $200 statement credit, if not outright discontinued, so this may be your last chance!

The current signup bonus on this card, offers 25,000 Starwood points after you spend $3,000 within the first 3 months.

When/if this change to the signup bonus will be made is still unknown, though it may be imminent without any notice. Indeed the signup bonus on the Canadian SPG card, as of yesterday has already been lowered to just a $100 statement credit plus a $150 Marriott hotel credit.

This comes on the heels of the recent Marriott announcement that the SPG, Marriott and Ritz Carlton rewards programs will all be combined into 1 program. As of 8/1, all Starwood points will convert into Marriott points at a 1:3 ratio, which means that the 25,000 Starwood points from the signup bonus, will turn into 75,000 Marriott points.

Until August 1st, you’ll earn 1 point for every dollar spent on this card, which will convert into 3 Marriott points. After August 1st, this card will earn 2 Marriott points for every dollar spent.

A great new benefit being introduced to this card from August 1st onward, will be a free annual award night. With this new perk, you will receive a free hotel night every year on your card anniversary. The award night will be valid for one year and can be used at any hotel which costs 35,000 points or less.

There are no foreign transaction fees on this card and the annual fee of $95 is waived for the first year.