FlyerTalk Forums - View Single Post - PenFed Premium Travel Rewards AmEx [5x/3x/1x, $0 fee, 20K bonus]
Old Dec 3, 2010 | 9:37 am
  #73  
chemist661
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Join Date: May 2001
Location: Southern California
Programs: Hertz 5 star, Priceline Hotel bidder. AA PLT, 1MM.
Posts: 2,910
Originally Posted by iahphx
Does anyone know if you get to keep your points if you cancel your card? I got the 20,000 bonus for joining, and I think I now have about 36,000 miles just for using the card to buy a little more than $3000 in airline tickets. I'm not so keen on paying the annual fee for the card, but I obviously don't want to lose more than $400 in free airfare. I could, of course, just buy a ticket from the rewards program.
If you are going to cancel the card, I would deplete the miles in the account before you cancelling. 36K would get you around $500 (or more) in tickets. Any excess mileage is charged at 1.5 cents/mile. If a ticket is 37K, you would pay approx $15 for the extra 1K miles.
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