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MMMondayMemo: Keep your Thank You points alive
Each Monday Miles has decided to drop a tip, hint, tutorial, trick that maybe you’ve missed or haven’t heard before. If you’re an expert in this field, some of these may be things you already know, but there are a lot of beginners out there who are just getting their feet wet. This week the Monkey Miles Monday Memo focuses on Keeping your Thank You points alive.
I recently got a Citi Thank You Prestige. Needless to say I love the benefits and have already recouped the $350 ( reduced from $450 because of Citi Gold) annual fee I paid. The problem I had was that I already had a Citi Thank You Premier card and the annual fee had just hit. I called in to see what my options were and here’s how I ultimately kept my Thank You points alive.
Option 1: Cancel the card…get 60 days
I could cancel the card and transfer all the points to my Citi Prestige account; however, they will expire within 60 days if I don’t transfer them on to partner programs.
I don’t really want to do this because
- I lose the line of credit and it’ll affect my Utilization.
- I want the flexibility going forward to transfer to a program based on need not requirement
*Also…I wasn’t offered any retention offers
Option 2: Keep the card open and pay the annual fee…points stay alive
I don’t want to pay $95 for a card that basically has fewer and redundant features of the Prestige card.
Option 3: Downgrade to a Cit Thank You Preferred…points stay alive
This is what I Ultimately decided to choose:
- Avoid annual fee
- Keep line of credit open
- No new inquiries…or open/closing of accounts to restart clock on Citi Family Cards
- KEEPS MY POINTS ALIVE!!!!!
The winner!!! Downgrade and keep your points alive and flexible!!!
Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers
A Monkey Miles favorite for beginners and point pros alike – a staple of our wallet that earns Premium transferrable Ultimate Rewards. $95 annual fee
♥ Earn 80k Bonus Points after $4k Spend in 3 months + $50 grocery credit
♥Points are transferrable to over dozen partners, or redeemable for 1.25c in Chase travel
♥2x on travel
♥2x on dining
♥1x on all purchases