Big news surrounding the direction of the Starwood and Marriott credit cards just rolled in this morning!
Today, Marriott announced that new cobranded credit cards are in the pipeline for 2018 (including some brand-new premium products) and they’ll be issued by both American Express and Chase.
In the exciting announcement, Marriott agreed to extend the relationship with both card issuers and cover the Marriott Rewards and Ritz-Carlton Rewards Visa credit cards from JPMorgan Chase, and the Starwood Preferred Guest (SPG) credit cards from American Express.
No Changes to Existing Products
As you already know, presently, the Marriott Rewards® Premier Credit Card is a product issued by Chase, and the Starwood Preferred Guest®Credit Card and Starwood Preferred Guest® Business Credit Card are issued by American Express.
There will be no changes to the existing co-branded cards, and you can continue to use them as usual as of now.
New Cards Are Coming in 2018
My favorite takeaway from the announcement is that as part of the agreement, American Express will be working closely with Marriott to offer a new super-premium consumer credit card and enhanced small business credit card. There are also plans for premium consumer co-branded products from JPMorgan Chase as well.
What Benefits Can We Expect?
I can only speculate at this time, but I am envisioning the new “super-premium” Marriott/Starwood cards to offer benefits similar to the new Hilton Honors American Express Ascend & Aspire cards that were announced last month.
I imagine the new products to come with higher annual fees, but also with a plethora of added-benefits such as annual airline and hotel credits, higher earnings potential, lounge access, premium travel insurance and the possibility to earn and retain top-tier elite status by meeting an annual spend requirement on the cards.
This is a really exciting announcement that many of us have been waiting for since the merger between Marriott and Starwood closed last September. I think this is good news for consumers, since it gives us more credit card products to choose from.
I also feel that the current products that we see today, may eventually be phased out and replaced with with a new product down the line. If that’s the case, it may not be a bad idea to consider getting the Marriott/Starwood product if you haven’t had them yet.
The Starwood/Marriott credit cards have always been a longtime favorite of mine and I’ve had them for over 5 years.
What are your thoughts? Are you excited about the specific card announcements that are coming in 2018?