Don't understand your question.
1. Are the rewards points Amex Membership Rewards points or some other type of reward points? Sounds like you are talking about some other type of point because you mention transferring to a Visa, but not sure. Can you clarify what the rewards network is? Does it transfer to FF programs and hotel programs, something like Ultimate Rewards from Chase? Is it straight cash back?
2. Have you asked UBS whether you can transfer the points associated with each of your accounts into the same Visa account. I'm not understanding why you would need to open six different Visas for each separate account. Seems like they should be able to transfer all of your accounts into one linked account.
Starting Score: ~500 (12/01/2008)What can the points be redeemed for? Are they transferrable into FF or hotel rewards programs? I'm assuming the answer must be yes, because if they were just cash back or gift cards, I don't see why you wouldn't just redeem them. What is the value of holding them in the rewards program.
Have you actually spoken to UBS about consolidating your points?
I don't know. Seems like you have to weigh the benefits of leaving the points in the rewards program where they potentially have some flexibility with redeeming them now. Probably not an all or nothing. You could redeem on say 3 accounts and apply for cards on 3 accounts. Are the points spread evenly? Do most lie in one large account where maybe it makes sense to apply for the card there and retain flexibility while redeeming from the other accounts? Lots of factors to consider.
I've had a similar type of account with Citi SB before. I dont understand how they could change this type of account to a credit card account. Or are they just putting the Visa logo on it instead of Amex as opposed to nothing (basically to be used for cash withdrawals). In that case, I wouldn't imagine that they would do a ccredit check at all.
maybe you can provide a link?
@flyingmd wrote:
It is a reward program very similar to membership rewards, just run through UBS. If I don't do the new visa credit cards en I have to redeem the points or I will loose them. I have over a million!! Since I don't have any travel plans before the end of the year z(except one which is already paid for) the I will redeem for gift cards I guess so I can spend at my leisure. If I do sign for the new cc I am afraid of all the pulls and accounts showing, which I wouldn't have otherwise needed. I'm so angry as I initially went wih UBS bc of their card program. Guess I'm gonna call MERRIL lynch!! Lol
I can't seem to determine how similar it is to MR. But if it is similar in the sense that you can transfer to certain airline miles, I would suggest you do that. It doesn't matter if you have any travel before the end of the year, the points won't expire in most FF programs for quite some time. And even when the expiration date approaches, it is very easy to keep the points active by generating even a little activity in the account.
By transferring to a FF program, you do risk devaluation of the points if the program devalues miles, but I would bet you'd still get a better return versus redeeming for gift cards.