Today, we’ll talk about how to make sure you don’t lose your points when you cancel a credit card. Since this varies by bank or points-type, we’ll discuss tips for each situation.
Do you lose your points when you cancel your credit card?
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(00:26) – Airline and Hotel cards… no, you won’t lose your points.
(02:21) – Bank cards… yes, you could lose your points.
(03:37) – Chase solutions
(05:57) – Amex solutions
(09:16) – Citi’s weird rules
(12:17) – Capital One solutions
(16:06) – Quick summary
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Music Credit – Beach Walk by Unicorn Heads
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What happens to your points if a bank decides to shutdown your accounts? Do you have a window to use/transfer your points?
A couple of points (pun intended):
There are certs that get revoked from the partner account when the credit card is closed. An example are the lounge day passes issued for the Chase UA Explorer card. So in generally it requires card by card research.
And since you mentioned the AS companion pass, yes, it requires a BofA AS card to be used for purchase. But note I said “a” – it doesn’t have to be the one that issued the cert. Could be a friend’s card or some people have multiple AS cards. Also, an easy workaround is to just pay for the full ticket price with AS wallet credit, i.e., don’t use any credit card. It’s pretty straightforward to “manufacture” AS wallet credit.
Thanks for this!
I think the “authorized user” aspect of Amex is underappreciated. It it a great way of “pooling” points at whatever airline you might need at the moment. (Just have to plan ahead.)