Time to Cash Out
Oct 23, 2020, 6:46 pm
#16
Join Date: Jun 2019
Location: Hawaii
Programs: AA EXP, HA PL, Hilton 💎, Marriott Ti, Wyndham/Caesars 💎, Hertz PC
Posts: 343
If I were in your shoes I'd first call for retention offers. Amex is historically generous, and given your spend and relationship history with them you could get their most generous offers (waived AF, 50k+ MR, etc.). Then I'd get the Schwab Amex Platinum so you can cash out @1.25x. If I was also someone of means and had assets lying around I'd look into shuffling stuff over to Schwab to earn annual fee statement credits if it was worthwhile and not a huge hassle, since it's only going to save you a couple hundred. Burning through that many points via transfer would be challenging, even if you took multiple RTW itineraries in F/J per year. $37k is half of a new Corvette or a down payment on a condo someplace warm.
Oct 27, 2020, 6:06 pm
#17
Join Date: Jun 2009
Programs: AMEX Business Centurion
Posts: 418
I'm also sitting on a seven figure MR balance with nowhere in sight to spend them. Once the writing was on the wall I pivoted most of my spend to a cash back card. YMMV but this one has worked well for quite a few FTers:
BofA Premium Rewards card
BofA Premium Rewards card
Nov 1, 2020, 10:57 am
#18
Original Member
Join Date: May 1998
Location: Highland PArk,IL,USA -- AA Lifetime Platinum, IHG Plat, UA Silver, Hilton Gold, Radisson Gold, Marriott Lifetime Titanium
Posts: 2,366
Mine is business platinum where I did use a few hundred thousand over last couple of years for 35 percent back, but I also have millions of airline points with all three majors and no need to earn miles anymore due to lifetime status with AA DL and backdoor to UA with Marriott lifetime titanium.
I think I will wait until after Jan first and at least get two hundred dollar AA via 500 milers (Maybe this perk is with Schwab so I can get both next year) and Dell $100 or maybe $200 again first half of year. Not sure how $200 credit and Saks works for Schwab. If I get it prior to Dec 2020 can I do Saks and $200 by end of year and reset next year?
Thanks
thepla
Nov 1, 2020, 1:23 pm
#19
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,955
Nov 1, 2020, 1:58 pm
#20
Original Member
Join Date: May 1998
Location: Highland PArk,IL,USA -- AA Lifetime Platinum, IHG Plat, UA Silver, Hilton Gold, Radisson Gold, Marriott Lifetime Titanium
Posts: 2,366
I think my annual fee is not due for a while so I should be able to use Business ones that are available on Jan 1 like Dell and $200 AA --> 500 milers (stickers).I'd cancel just prior to annual fee.
From Business to Personal most seem same except Dell vs Saks. no 35% rebate on points, some other differences were at year end, I think Cruise, Centurion, Priority Pass, etc. seem to be same.