<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by venkat:
I know but why have one more step?</font>
The one additional step is good if you transfer a large number of points. For example:
20,000 SPG points to CO = 25,000 CO NONEPASS miles due to the 5k bonus
25,000 CO to Amtrak = 25,000
If you do it directly from SPG to Amtrak it is 1:1 or 20,000.