I’ve written about the Ritz-Carlton Rewards co-brand credit card occasionally over the past couple of years.

There have been a couple of really outstanding offers for it, like 70,000 points and no fee the first year, and 140,000 points while paying the steep $395 annual fee even the first year. But I hadn’t seen either of those around in the past few months.

Doctor of Credit finds the 140,000 Ritz-Carlton Rewards card offer available (requires $3000 spend within 3 months).

• The card comes with Ritz-Carlton Gold status (which is Marriott Rewards Gold) the first year, and then you keep it by spending $10,000 on the card each year.
  
• There’s a $300 airline fee credit as well that helps take the sting out of the annual fee.
  
• There are also some fairly restrictive club lounge upgrade and $100 folio credits with Ritz-Carlton stays as well.
  
• Concierge service that I’ve heard is now handled by the same company which takes care of Palladium card customers (which the President has). Unfortunately that’s a downgrade to the Palladium concierge, rather than an improvement for the Ritz-Carlton card.

You’re supposed to choose whether you want to be a member of Ritz-Carlton Rewards or Marriott Rewards. They don’t want you to be a member of both. The programs are almost identical except for the promotions.

I value Marriott points at a little less than a penny apiece.

On the whole I see these points as well worth the cost though in full disclosure I am not signing up for the offer myself.

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