So this is a little complex but for 40 Rapid Rewards credits well worth it.

1. Open a Continental card and get 20,000 OnePass Miles (You will get your miles the day after the end of your first billing cycle)
2. Transfer the OnePass miles into Amtrak Guest Rewards points 1=1 (must be transfered in blocks of 5,000) Miles Post very early every Monday morning.
3. Transfer your 20,000 Amtrak points into 100,000 Choice Hotel Points (must be transfered in blocks of 5,000 Amtrak points, 5,000AGR=25,000CHP) please PM me with how long this step takes so I can update the thread
4. Transfer 100,00CH into 40 Rapid Rewards credits. 5,000CH=2RR please PM me with how long this step takes so I can update the thread

You can also get the midwest miles card which gives a 15k bonus. The AGR card only offers 8k bonus.

Note the max you can transfer out of AGR per calender year is 25k

Edited by nsx to add:

On December 1, Amtrak devalued its conversion to Choice by 40%, then on December 6 Amtrak halted conversions to Choice at least temporarily. People who have already requested conversions will likely receive the number of points they expected, but Amtrak appears to be delaying completion of these conversions.

On December 11, points from Amtrak began vanishing from Choice accounts. This may be the first documented case of a program changing the rules retroactively to reverse legitimate transactions already completed. It's a new low for Amtrak and its program operator Carlson.

This thread is now closed. Please continue the discussion here.