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Get a new Amex. Speculative transfers are a bad idea
I don’t think you get the option to pay $55 and keep it open.
Would recommend the Amex Blue Card. I believe it has membership rewards and no annual fee.
Otherwise, just transfer the points to Delta since you live in a Delta hub. Definitely not the most valuable redemption but it’s more likely you will be able to use them.
Get an MR no fee card (everyday, BBP)