Will I Lose Points Earned on a Chase Card If I Close the Account?

by on August 24, 2014 · 13 comments

in Chase, Credit Cards, Sunday Reader Questions, Video Blog Post

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TPG Reader William emailed The Points Guy asking:

“I have all three Chase cards now (Sapphire Preferred, Ink Bold, Ink Plus) and have points balances for each. I was thinking about cancelling one of the Ink cards and possibly the Sapphire so as not to pay the annual fees on three cards. Would I be able to do so and keep the points from the cancelled card, or do I need to forfeit those points when I close one or two of the accounts?”

One of the things I like most about Chase Ultimate Rewards cards like the Chase Sapphire Preferred Card, the Ink Bold, and even the Chase Freedom card is that I have them all under one login and I can transfer points in between accounts. So those Chase Freedom points that I am getting 5X points per quarter go into my Freedom Ultimate Rewards account, but through Chase’s account management system I can combine all my points, meaning I can combine those Freedom cash back points into my Sapphire Preferred Ultimate Rewards account and then transfer them on to the 11 different Chase Ultimate Rewards partners.

Make to leave one Chase card open and put all your points under that card in your Ultimate Rewards account. Image courtesy of Shutterstock.

Make to leave one Chase card open and put all your points under that card in your Ultimate Rewards account. Image courtesy of Shutterstock.

TPG reader William emailed me to say he has several Chase cards and is considering canceling one or two of them. William, all you need to do is combine the points from the card(s) you want to cancel into one of the other Ultimate Rewards accounts you’d like to keep open and they will be safe there.

However, if you choose to cancel your only or last remaining Chase account, or even an Amex Rewards account, in this case I would always recommend to use the points.  You should transfer them out to one of the partners, because if you do cancel all existing Ultimate Rewards cards, you will lose those unused points.

In conclusion, use them or lose them, or simply keep one of the cards open, like one with no-annual fee and keep them in that account.

If you have any other questions, please tweet me @thepointsguy, message me on Facebook, or send me an email at [email protected]

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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  • WSJ article

    Why does TPG seem to only talk about credit cards? Answer: he is trying to help his pocket and keep his affiliate marketer happy, not trying to help you:

  • Anna Astashkina

    Hi, I have Chase Ink and Freedom cards. How do I combine them?

  • Janet

    If you cancel a Chase card, how much time needs to pass to apply for a new one (ie. to get the bonus points again)?

  • Mike

    The last couple of questions readers asked seem really fake… “Can I earn 1 extra point if I use” What the heck? Anywhere you’d learn about that site tells you 100 times you do. Also is it not 100% obvious you’d lose your points if you cancel your card before transferring or using them?

    “Thank you for calling Chase! I see you cancelled your card 8 months ago and are no longer a member. Oh you still want to use your points? You sure can we are glad to help people who aren’t our customers, we store your account balance as a courtesy. Want me to help you transfer them to an airline for you?”

    Wtf? Seriously….

  • stephaniejmota

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  • djrobsd

    WTF Mike why are you being so hard on everyone? Don’t you know, if you get American Airlines miles on your Citibank card, but you close your account, you still keep the miles? Same for Marriott Rewards Visa, USAir Mastercard, or pretty much any hotel or air branded card. But with Amex, and Chase since they are not going to a specific loyalty program you loose them. Easy peasy, but still confusing to some points/miles newbies out there.

  • Mike

    Well that is different, you are earning points for a separate account. Amex MRP, for example, are within your Amex account. Maybe its not obvious, I dunno, it just seems pretty straightforward to understand.

  • dee seiffer

    You need to use the same log-in for both. Go to the Ultimate Rewards page. Across the very top there are links… second from the left is “Combine Points”. That page will give you drop down choices for “to” and “from” accounts. You want your points in your Ink acct to be able to transfer them to travel partners.

  • Joe Bloggs

    You don’t actually need the same login for both. If you want to combine points on one login with points in another, you can just enter the cc# of the account you want to send the points to, and that will do it.

  • hs2323

    I currently have a Sapphire Preferred and a Freedom card. Would it be woth adding a Chase Amazon Card? The Chase rep said it could go towards Ultimate Rewards. They have 3x points for Amazon (when not using Freedom’s 5x points) and 2x points for gas(when not using Freedom’s 5x points) and drugstores.

  • iHorns

    Dumb question that has nothing to do with this article:

    How do I email TPG? I have some questions that I think would be good topics, but I can’t find a link or anything in order to submit my question other than commenting like this.

  • hs2323

    Just talked with two more Chase reps. The first said that you can use the Amazon cards towards UR, while the second one said you couldn’t. He did say that the confusion was that you could use the (separate) Amazon points towards the travelcenter, but could not combine points.

  • land_baron

    May we all ascend to your level of knowledge one day, Mike, and hopefully with a bit more humility.

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