Some of you may have seen I just got approved for another Citi Premier card and downgraded my existing Premier card to a Custom Cash.
I also have a Rewards+ card in my arsenal which used to be a Premier card a couple years ago (did the same signup and downgrade switcheroo back then).
My current Citi limits:
DoubleCash $14000
Rewards+ $17000
CustomCash $9200
Premier $3000
They stopped giving me SP CLIs a while back. I'm pretty sure I've hit my limit with Citi.
My new Premier limit is a bit lower than I would've liked. I suppose I could call them and ask to move credit around, but I've heard that's a hard pull and I'd like to avoid that.
I thought about maybe cancelling my Rewards+ card, which is my least useful but highest limit card. Maybe that would open up the possibility of SP CLI on my Premier? And maybe make another Premier approval in a couple years more likely?
To finally get to the point... as I understand it if I cancel a TYP earning card, the points associated with that account go away after 60 days. Currently I have about 4000 points on that Rewards+ card.
If I do a cash back redemption through my Custom Cash, would it draw from my CC's points first and then from my other cards? Or does it pull oldest points first? I'm trying to figure out if I can redeem those Rewards+ points via my CC to save them from going away if I cancel the Rewards+. Or maybe if I cancel the card and the points are up for expiration it'll pull those points first?
Does anyone understand how their combined but separate points system works? Because I sure don't. Does cancelling the Rewards+ sound like a good idea in the first place?
Thanks in advance for your replies.
@AverageJoesCredit wrote:Not sure on the points but i dont know if its worth a risk closing a card in hopes that cl can be picked up later through sp cli. It might happen but then again it might now.
Yeah... if I thought it was a sure thing I would've done it yesterday while I was on with the CSR about the PC. I may just keep it and live with the limits as they are. I'm just also worried my high limits and number of accounts may keep me from getting another Premier in two years. I'm trying to play the long game with Premier SUBs.
I'm stressing it probably more than I should because I don't want to wait too long to cancel the Rewards+ if that's what I'm going to do. I just reset the 24-month clock with my Premier signup, so now is the time to do it. Whatever I do (or don't do) now is how it's going to be for the next two years.
@Anonymous wrote:
@MrDisco99
If you had one "Thank You" Points Account that all of the accounts fed to the problem would likely be resolved. Then you could change accounts to fit your needs. If all the accounts are separate it is a different story.
My accounts are all linked into a single ThankYou points account. However, as I understand it, points are still tracked by card, and if I cancel a card, that card's points go away after 60 days. I'm trying to figure out how the system pulls points for redemptions, or if I can somehow work it to pull from the card I'm thinking of cancelling. Does it pull oldest points first? Does it pull from one account then the next? Does it pull from points that are about to expire first? They've set up this convoluted "joint but separate" points system and I'm trying to make sense of it.
It would be nice if they just set it up like Amex where it's just one big pool and you get to keep your points if you cancel a card... but that's not what they have.
@Otto77 wrote:I would reconsider canceling the Rewards+, because it will give you a 10% bonus on your TY redemptions if your accounts are linked. For example when you redeem your 80k SUB from the Premier, if the Rewards+ is linked you will get 8k point bonus on the Rewards+.
Yeah I'm thinking I may just hang onto it rather than fuss with figuring out how to cancel and extract the points. If only I could redistribute the limits. I'm about to work the SUB spend on my new Premier with only a $3000 limit while my $17000 Rewards+ sits in the sock drawer. I'm trying to garden for a USB app next year so I can't afford another HP.
LOL... I realized as I typed that, this is probably the worst example of a first world problem. I'm fully aware I'm being ridiculous right now. I'm just a bit obsessive about optimizing my card setup.
@longtimelurker wrote:
@MrDisco99 wrote:
@Anonymous wrote:
@MrDisco99
If you had one "Thank You" Points Account that all of the accounts fed to the problem would likely be resolved. Then you could change accounts to fit your needs. If all the accounts are separate it is a different story.My accounts are all linked into a single ThankYou points account. However, as I understand it, points are still tracked by card, and if I cancel a card, that card's points go away after 60 days. I'm trying to figure out how the system pulls points for redemptions, or if I can somehow work it to pull from the card I'm thinking of cancelling. Does it pull oldest points first? Does it pull from one account then the next? Does it pull from points that are about to expire first? They've set up this convoluted "joint but separate" points system and I'm trying to make sense of it.
Yes, it is as you say, combining does not make the problem go away! One source I use is https://www.flyertalk.com/forum/citi-thankyou-rewards/1391810-citi-thankyou-points-cancel-downgrade-expiration-considerations.html
That says the points with the nearest expiration date are used first, and while it points out these may or may not be those on the cancelled cards, you will know if any of your points are earlier than 60 days.
This is exactly the kind of info I was looking for. Thank you!
So according to the FlyerTalk wiki, I COULD cancel the Rewards+ and those 4000 points would be on deck for expiration... which I could just redeem through my new Custom Cash for $40 cash.
However, as was previously pointed out, I'd then lose the 10% redemption bonus. After I work the SUB on the Premier I'll be up to more than 170K points, which when redeemed would earn me back 17K points through the Rewards+. I don't really want to leave that on the table for something that's not a sure thing, i.e. possible better odds on Premier CLI and approval for another in 2 years... which is just as likely to not be helped at all by closing that card.
I also thought about calling them and changing my downgrade request to a second Rewards+ rather than the CC (I may still have time to do that), cancelling the old Rewards+, and then app for a new CC with 20K SUB later on since the churning clocks on CC and Premier don't affect each other (yet). But that just seems way too risky. And I kinda like having the CC now rather than having to wait until after my gardening plan anyway.
So yeah... I'll just go with my original plan and keep all four cards... make it work with the low limit on the Premier... and roll the dice on a 5th Citi card (4th Premier) in 2023.