Cancelling credit card - points remain?

Discussion in 'Newbies' started by crimson, Mar 24, 2013.  |  Print Topic

  1. crimson

    crimson Active Member

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    I was wondering what happens to your points you've earned with credit card bonuses when you close an account.

    I got in on the Amex platinum 100k sign up, I'm not interested in keeping the card after the first year. If I cancel the card, will my membership rewards points still be available? And is that answer true for most programs?

    Thanks in advance
     
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  2. NYCUA1K

    NYCUA1K Gold Member

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    I was going to say that unless you have another card you would lose the points because to participate in MR one must have an eligible AMEX card, but here's exactly what will happen, as codified in the T&C for MR:
    You just need to have an AMEX card to avoid losing all the points, but you must use them all within 30 days, which can be tough! My sense is that if one has more than one AMEX card linked to MR, one could cancel a card and nothing would happen. The points and the account remain. I have an AMEX Corporate and an AMEX Biz Platinum linked to my MR account. If I cancel the Corporate Card or the 'company' cancels it, I do not think that I would lose the MR points since I will still have the Biz Platinum card linked (the points are not separated by card).
     
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  3. Mike Reed

    Mike Reed Gold Member

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    Bottom line: the points are a perk associated with ongoing participation in the program. If you're going to cancel, use/transfer them.
     
  4. no, i cancelled an amex plat co branded Mercedes card that had 100K sign up liked with other cards to a MR account, points weren't forfeited
     
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  5. Mike Reed

    Mike Reed Gold Member

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    Note the reply above mine: if you still have a relationship with the points program via another card in the same program, you're fine. If it's your only card with a program, the points die with the card in most cases.
     
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  6. NYCUA1K

    NYCUA1K Gold Member

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    That makes sense. There is trouble when canceling would leave one with no linked MR-eligible AMEX card, or no AMEX cards at all.

    Sent from my DROID4 using milepoint
     
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  7. daninstl

    daninstl Gold Member

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    I have lost Amex points when I left a job where the corporate card was my primary card and I had other AMEX (costco, blue, etc.) and lost points. In the case of that situation there was an annual fee for the rewards linked to that primary card so once I left the job they cancelled the card and it deleted the points although I still had other AMEX cards linked together.
     
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  8. NYCUA1K

    NYCUA1K Gold Member

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    It is a matter of eligibility. Some AMEX cards (e.g., some "Blue") or AMEX-branded (Costco Biz) card may or may not be eligible. The T&C for MR are among the most comprehensive so you might try to find out what happened by carefully reading them.
     
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  9. Mike Reed

    Mike Reed Gold Member

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    Right. Not just an Amex, a Membership Rewards Amex is needed. It's not the card family, its program participation that matters. The easiest tack? Ask when you call to cancel.

    Sent from my iPhone using milepoint
     

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