My Citi Prestige annual fee is going to be due in August next year. I will have 60,000+ TY points by then. Based on what I'm reading, my best bet for maximizing their value (and the number of points I get) while saving my annual fee cost would be to downgrade that card to a Preferred which will then keep the points good without paying an annual fee. Whenever I want to redeem them, assuming its been two years since the Prestige application, I can apply for a Premier, get another sign up bonus, and then transfer the points from the Preferred to the Premier to maximize their value (if booking through Citi's travel portal). Is this correct?