Experiences with Schwab Platinum cash out?

[icednightpaper]

I just got the Schwab Plat for the standard reason of having the Plat, with a backup plan. However, since I'm not travelling this year (anymore, probably), I was going to cash out some of the accumulated MR I have right away, and dump some into my investments and use the rest for cash. Do y'all think it's too soon to do this? I can't find any posts specifically detailing if AMEX/CS frown on cashing out MR: 1. that wasn't from Plat spend and 2. so soon after opening the account.

This is a banking setup I'd like to keep and while I'm not a churner (just enjoying the bonuses that do exist), I don't want to draw any unwanted attention.

Thanks for insights.

[kdm31091]

Unless you really need the money and/or it is a significant amount to invest, I would not be rushing to do it. If we're talking many thousands of dollars in points or something huge, I'd consider it. But for a balance of $500 or $750 or something, I don't see a huge rush. You aren't going to make much off of investing it and you sacrifice the future travel value, which is the whole reason you got the card and paid the AF.

I would hang tight for a bit unless you have a pressing need for the money.

[elixerin]

DEW IT, im waiting till mid May to pick up my Schwav and by then cash out somewhere between 4-600k points after bonuses.. to me giving up possibly 10k+ on business or first travel, way less on coach (this could be half of one international round trip or maybe two domestic round trips, least from my calculations and research from my location, even with the recent airline hardships im not seeing anything crazy as far as deals on business+ classes.. really odd to see, not that i'd consider traveling in the coming months), for $6-$7500 cash in the account is definitely not a horrible idea...

AMEX already took their losses with their reward system as soon as you started spending and PIF.. how you choose to spend your reward should* definitely not raise any eyebrows whatsoever... as someone who is constantly on AMEX's radar i will happily update my results throughout my whole process (ill be cashing out all points as well most likely)

i got Vanilla (first and only charge currently) in January and received 80k SUB, the plan is in May pick up another SUB from Schwab(60k here will be good enough, with no hiccups hopefully), cash out after all subs earned/a statement goes by... 

TL;DR i doubt any additional action will come, but if you wanna wait and follow my (or many others as of recent)experience of cashing out lump sum MR short while after picking up Schwab Plat, then hang in there.. tbh though with my recent activity since 2020 if im not worried you should probably be doing jumping jacks😂

Best wishes in whatever you go for

[icednightpaper]

@kdm31091
You have a valid point for sure, I do have a smaller sum if $2k-ish were I to do this. I don’t necessarily need it but it would be a better cushion for my level of being affected by this nonsense. Though it would be a shame to lose 2021/2022 travel possibilities. 🤔

@elixerin
I’d like to see your updates on the process as you continue. Perhaps I’m just being paranoid but honestly this forum has helped so much that it only felt right to ask. Even though it sounds like you’d be affected way before I would in a worst-case