Questions and Answers

Hello everyone – newbie here!
I recently got the Chase SAPPHIRE Reserve card, based on your best credit card recommendations. I have a AMEX Platinum card with about 250k rewards points and want to cancel that card after transferring my points. The question is – where to? What are my options? Would be grateful for any suggestions. I am planing to take at least 1 big trip every year for the next few years and want to maximize my current points and the SAPPHIRE points for award travel.

Thanks in advance!

Welcome [USER=5837]@hansmann1[/USER] – I’d start with this post from Frequent Miler, the Transfer Partner Master List: [URL]https://frequentmiler.boardingarea.com/transfer-partner-master-list/[/URL]

In it there are links to posts in which he does a deep dive into each transferrable currency and their transfer partners. That will give you an understanding of places you can transfer the points.

But ideally we don’t suggest transferring the points until you’re ready to use them. I’m sure you want to get out from under the annual fee of the Platinum card but would you consider downgrading to a cheaper (or even free) card that would still allow you to transfer the points? Doing so will keep your line of credit open and help your average age of accounts, both of which will help your credit score.

[QUOTE=”hansmann1, post: 65526, member: 5837″]Hello everyone – newbie here!
I recently got the Chase SAPPHIRE Reserve card, based on your best credit card recommendations. I have a AMEX Platinum card with about 250k rewards points and want to cancel that card after transferring my points. The question is – where to? What are my options? Would be grateful for any suggestions. I am planing to take at least 1 big trip every year for the next few years and want to maximize my current points and the SAPPHIRE points for award travel.

Thanks in advance![/QUOTE]

Thank you so much, MidSouth Skier – I will follow the link and explore my options for a free AMEX card. Not so worry about my credit rating since you need very good credit to qualify for a SAPPHIRE card and I have my AMEX Platinum for 20+ years….

Well if you’ve had the Platinum that long I would DEFINITELY try to downgrade. If you have a 20-year card roll off your account that could significantly impact your average age of accounts.

[QUOTE=”MidSouth Skier, post: 65529, member: 184″]Well if you’ve had the Platinum that long I would DEFINITELY try to downgrade. If you have a 20-year card roll off your account that could significantly impact your average age of accounts.[/QUOTE]

Good advise, thanks again!