38,000 points is enough for a free night at a category 1 through 4 property (out of six total reward night categories).
For three nights this is probably the most lucrative promotion in the market. Marriott has MegaBonus which offers a free night at up to a category 4 property after 2 stays (which can be 1 night stays), but those nights can’t be topped up to a higher category property the way a points promotion like this can.
I personally prefer Hyatt’s new promotion because it doesn’t limit earning to only three nights or four stays, and is more lucrative than Starwood’s offering.
But the real key to unlocking value from the Club Carlson program is the Club Carlson Premier Rewards Visa Signature card.
Up to 85,000 bonus points for signup — 50,000 after first purchase and 35,000 more after $2,500 spend within 90 days. Plus 40,000 renewal bonus points each year.
You get Gold elite status in the Club Carlson program just for having the card (benefits such as upgrades, early check-ins, and late check-outs).
And most importantly — Buy One Get One awards: A free award night with every award stay of two nights or longer. That means you only spend points for one night on a two night award stay, every time (up to 50 times per year). Effectively that can double the value of your points (including the signup bonus on the card, and this new three night stay promotion).
(Note that cards in this post offer credit to me if you’re approved using my links. The opinions, analyses, and evaluations here are mine. The content is not provided or commissioned by American Express, by Chase, by Citibank, US Bank, Bank of America, Barclays or any other company. They have not reviewed, approved or endorsed what I have to say.)