American Express just sweetened the Marriott Bonvoy Bevy card to 150,000 points plus a $250 statement credit after $5,000 spend in six months. The offer runs through January 13, 2027. It's one of the richest public bonuses this $250 annual-fee card has seen in years.

That $250 credit effectively wipes out the first year's fee. Add the 150K points — valued around $1,050 at current 0.7 cents per point — and you're looking at a solid opener if you actually redeem them decently. But let's not pretend Marriott points are magic. The program has been sliding.

The 2026 Reality Check on Marriott Points

Marriott ditched its award chart years ago. Dynamic pricing now rules, and 2026 brought another quiet devaluation. Award costs rose 5-10% on average across the portfolio, with luxury properties like Ritz-Carlton and St. Regis taking bigger hits. Your 150K won't stretch as far as it did in 2024.

Cash + points redemptions have also worsened. The "sweet spot" of topping up a free night certificate with points is still there — the Bevy gives you an annual free night (up to 50K points) after $15,000 annual spend, toppable with 25K more from your balance since the March 2026 update. But finding availability at reasonable rates requires flexibility and persistence.

In short: the bonus matters more than ever because ongoing value is eroding. Churners chasing raw points without a redemption plan are playing a loser's game.

Bevy vs. Bonvoy Boundless: The Real Comparison

The Chase Marriott Bonvoy Boundless currently offers three free night awards (each up to 50K points) after just $3,000 in three months. That's potentially 150K points in certificate form, plus some airline statement credits through mid-2027. Annual fee? Only $95.

On paper, the Boundless looks superior for minimal Marriott users. Three automatic certificates beat one that requires $15K annual spend. The Boundless also gives Silver status (bumping to Gold after one stay) and a yearly anniversary free night up to 35K points.

Yet the Bevy wins on everyday earning if your spending aligns. It offers 4x at restaurants worldwide and U.S. supermarkets on up to $15,000 combined per year (then 2x), versus the Boundless's 3x on a smaller $6,000 cap across gas, groceries, and dining. Both earn 6x at Marriott hotels.

The Bevy also throws in Gold Elite status immediately, 15 elite night credits, and 1,000 bonus points per paid Marriott stay. No Priority Pass here — that's reserved for the $650 Brilliant. If lounges aren't your thing and you eat out or grocery shop a lot, the Bevy's categories punch harder.

Who Actually Comes Out Ahead?

This offer pencils if you're strategic. Use the $250 credit. Hit the $15K for the free night in year one. Book a 40-50K point hotel you were going to pay cash for anyway. Suddenly the effective cost of the card is negative and you've got a pile of points for a future trip.

If you're already in the Chase Marriott ecosystem or just want the easiest three free nights with minimal commitment, the Boundless (or waiting for its next points-heavy offer) makes more sense. The once-per-lifetime language on Amex Marriott cards is strict — don't waste it on this if the Brilliant's Platinum status and 85K free night tempt you more when it pops to 150K+ again.

Marriott's devaluations aren't stopping. The 150K bonus is a rare fat pitch. Take it only if you have a clear use case. Otherwise you're just collecting depreciating currency while paying $250 for Gold status you can earn with a couple of stays.

Action item: Check the targeted offer on Marriott's site first (it often beats the generic Amex page). Run the numbers on a specific redemption you're eyeing in the next 12-18 months. If it beats cash rates after the devaluation, pull the trigger before January. If not, the points aren't worth the plastic.