Called the main number today after the annual renewal fee hit a few days ago. It is my 1st year with the card, and I've put about $20K spend on it, all real.

Agent told me there were no offers available other than being able to redeem points to pay the fee. I (politely) responded that this was not really an offer, given that I could redeem the points for straight cash, thanked her and hung up.

I'm torn as to what to do. In my galaxy brain, I know I should just switch to one of the 2% cash back cards, like Fidelity Rewards Visa. The issue is I've accumulated quite a balance of Ultimate Rewards points and I'm not ready to lock them into airline miles or hotel points.