@wasCB14 wrote:Here's how I see it: How far does 100k MRs go?
Round 1: $1000 of flights (or a little more with an insider discount). 1 cent per gross point (before 35% back). To my understanding, you can't actually book a $1540 ticket with 100k MRs in your account. ~1.54 is a projection for total value over multiple rounds. It's $1000 only in the first round. $1000 of flight value so far and 35000 points remain.
Then you get $350 in flights in the next round. 1 cpp.
etc.
That's correct that you need to have the full amount of pre-rebate MRs to book and then they get rebates a few days later. I'll have to dig up the Excel file with the formula for infinite 35% rebates. It's possible there may have been an error in it and the math was more complicated than it needed to be, but it also included the MRs you earn for booking through Amex Travel. Due to the way Amex actually charges use of MRs (you get a $1000 charge and then a $1000 credit a few days later) you actually do earn 5x on each booking charge but then lose the 1 base point when it's refunded, and that is an infinite (at least until you get down to earning less than 1 MR) cycle when using the rebated MRs and the rebates MRs from that rebate, etc.
@wasCB14 wrote:... I'll be down to Amex (9), Chase (5), BofA (2) and Citi (1).
I see what you're doing, and it probably will work out fine for you, @wasCB14 . But 9/17 (53%) of my cards is much more of my lineup than I would ever feel comfortable trusting a single lender. Lender diversity is a high priority to me, and lenders can be fickle. About the highest percentage I think I would ever go with a single lender would be 33%, and that would only be in a hypothetical scenario where I downsized to three simple cards. Having 50%+ influence is a controlling stake in my FICO and finances, and no lender would get that, as much as I may like them.
As I said in my earlier post, "of concern, the first thing that stands out to me is how your changes further consolidate your cards and rewards with AMEX and MRs. It's a heavy investment and would not leave you a lot of options if your lender relationship changed or MRs became devalued to you."
Again, that's just my honest and friendly feedback, but I respect however you choose to proceed. 
@Aim_High wrote:
@wasCB14 wrote:... I'll be down to Amex (9), Chase (5), BofA (2) and Citi (1).
I see what you're doing, and it probably will work out fine for you, @wasCB14 . But 9/17 (53%) of my cards is much more of my lineup than I would ever feel comfortable trusting a single lender. Lender diversity is a high priority to me, and lenders can be fickle. About the highest percentage I think I would ever go with a single lender would be 33%, and that would only be in a hypothetical scenario where I downsized to three simple cards. Having 50%+ influence is a controlling stake in my FICO and finances, and no lender would get that, as much as I may like them.
As I said in my earlier post, "of concern, the first thing that stands out to me is how your changes further consolidate your cards and rewards with AMEX and MRs. It's a heavy investment and would not leave you a lot of options if your lender relationship changed or MRs became devalued to you."
Again, that's just my honest and friendly feedback, but I respect however you choose to proceed.
I'm not worried.
1. I can PIF personally and the business can PIF.
2. I don't have as much time as I used to for tracking a lot of different award currencies (but may chase SUBs now and then).
3. In the event of an FR during travel, I still have PR, Hyatt, IHG, and Costco as no-FTF V/MCs. Also Arrival if I keep that.
4. If MRs lose value or Amex loses perks, the total value I lose is small in the context of my investments. I could make/save more money by researching stocks or looking for errors/oversights in a plumbing or electrical work contract.
5. My spend most months is pretty low. When it spikes, it's generally for either business spend (income properties with a lot of deferred maintenance) or estimated taxes (after I take a large capital gain on stocks). The Business Platinum is great for the first (1.5x on construction-related spend and transactions over $5k, with great expense tracking/labeling/categorizing tools) and for the second I can do BBP or PR. Amex has been good to me when it comes to allowing big transactions (sometimes over the BBP CL) without problems.
*To clarify...The Business Platinum and Lowes AU are for the real estate (high spend with very strict separation of funds). Apart from making tax payments, the BBP is just for a few incidental professional expenses.