I think the 135K points for $1000 cheque is only for Gold/Plat elites. So if the OP wants to go that route, you might want to check on that first.

Also, if you want to convert your points to miles, you might be better off holding on to the points and try to accumulate 235K points. That way you can get the Travel Package that comes with 120K miles plus a 7-day cat 1-5 hotel stay. If you don't want to use the hotel cert, Marriott will buy it back, but at a reduced rate. Something like 35K points or such. That would get you 120K miles for 200K Marriott points. Which is a better redemption rate than directly converting to miles.