Skip to content

Do I Keep My Rewards When I Close a Credit Card Account?

Nov. 15, 2015
3 min read
Do I Keep My Rewards When I Close a Credit Card Account?
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Update: Some offers mentioned below are no longer available – View the current offers here

TPG reader Steven sent me a message on Facebook to ask about holding on to credit card rewards:

“If I cancel my Delta card, will I get to keep the miles I've earned?”

Earning points and miles is fun, but the whole point of earning them is to use them, so it's natural to be wary of anything that might put your rewards at risk. This is one of the most common questions I get, probably because credit card issuers themselves offer mixed signals. The short answer is that you usually get to keep your rewards after canceling a card, but there are some important exceptions.

The points and miles you earn from an airline, hotel or other co-branded card are generally safe even if you close your credit account. For example, rewards from the Gold Delta SkyMiles Credit Card from American Express are ultimately administered by Delta, and your relationship with Amex generally doesn't come into play. Once the miles are in your SkyMiles account, they're yours (though card issuers may claw back rewards earned from purchases that are later returned or refunded).

The story is different for rewards from credit card loyalty programs, such as Chase Ultimate Rewards points or Barclaycard Arrival miles. Those rewards can be forfeited if you cancel your card, so it's important to transfer or redeem them before closing your account. In some cases, you can simply transfer those points to a different account in the same program. For example, you can combine points from the Chase Sapphire Preferred Card and Ink Plus Business Card; just make sure to do it before you close the account in question.

Sign up for our daily newsletter

A lot of people get confused about this because credit card phone reps routinely suggest that closing your account will put your rewards in jeopardy, even for co-branded cards. What they may mean is that points earned that haven't yet appeared in your frequent-flyer or hotel account may be lost. Also, canceling your card could lead to an extended period of inactivity in your loyalty account (because you're no longer earning on the card), and that could cause your points or miles to expire. However, that's an indirect result — canceling the card itself is not the issue, and there are plenty of other ways to keep rewards from expiring.

For more on protecting your credit card rewards, check out these posts:

If you have any other questions, please tweet me @thepointsguy, message me on Facebook or send me an email at info@thepointsguy.com.

Top offers from our partners

How we chose these cards

Our points-obsessed staff uses a plethora of credit cards on a daily basis. If anyone on our team wouldn’t recommend it to a friend or a family member, we wouldn’t recommend it on The Points Guy either. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners.
See all best card offers

TPG featured card

Best for earning alternative rewards for travel purchases
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3 / 5
Go to review
Apply for Credit One Bank Wander® Card
at Credit One Bank's secure site

Rewards

1 - 10X points
10XEarn 10x points on eligible hotels and car rentals booked through the Credit One Bank travel partner site
5XEarn 5x points on eligible travel, dining, and gas
1XEarn 1x points on all other purchases

Intro offer

Earn 10,000 Bonus Points
Earn 10,000 bonus points after spending $1,000 on eligible purchases in the first 90 days and redeem for a $100 statement credit, gift cards, or travel

Annual Fee

$95

Recommended Credit

Fair/Good
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

The revamped Wander Card from Credit One Bank earns cardmembers up to 10 points per dollar spent on eligible travel purchases. With no foreign transaction fees, the card is also great for international travel. However, points earned from this card can only be used at a fixed value, so it may not be the best option for those striving to get maximum value from their rewards.

Pros

  • This card has no foreign transaction fees and earns up to 10 points per dollar on travel purchases through the Credit One Bank travel partner site.

Cons

  • While cardholders can earn a significant amount of points on travel purchases, there isn't any way to redeem points from the Wander Card for maximum value (beyond 1 cent per point).
  • Earn 10,000 bonus points after spending $1,000 on eligible purchases in the first 90 days and redeem for a $100 statement credit, gift cards, or travel
  • Earn 10x points on eligible hotels and car rentals booked through the Credit One Bank travel site
  • Earn 5x points on eligible travel, dining, and gas
  • Earn 1x points on all other purchases
  • Redeem your reward points for statement credits, gift cards, merchandise, flights, hotels, and more
  • With $0 Fraud Liability, you won’t be responsible for unauthorized charges
  • Free Online Credit Score and Credit Report summary, terms apply
  • If you are a Covered Borrower under the Military Lending Act, you may get a different offer
  • See Rates & Fees
Apply for Credit One Bank Wander® Card
at Credit One Bank's secure site
Terms & restrictions apply. See rates & fees
Best for earning alternative rewards for travel purchases
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3 / 5
Go to review

Rewards Rate

10XEarn 10x points on eligible hotels and car rentals booked through the Credit One Bank travel partner site
5XEarn 5x points on eligible travel, dining, and gas
1XEarn 1x points on all other purchases
  • Intro Offer
    Earn 10,000 bonus points after spending $1,000 on eligible purchases in the first 90 days and redeem for a $100 statement credit, gift cards, or travel

    Earn 10,000 Bonus Points
  • Annual Fee

    $95
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    Fair/Good

Why We Chose It

The revamped Wander Card from Credit One Bank earns cardmembers up to 10 points per dollar spent on eligible travel purchases. With no foreign transaction fees, the card is also great for international travel. However, points earned from this card can only be used at a fixed value, so it may not be the best option for those striving to get maximum value from their rewards.

Pros

  • This card has no foreign transaction fees and earns up to 10 points per dollar on travel purchases through the Credit One Bank travel partner site.

Cons

  • While cardholders can earn a significant amount of points on travel purchases, there isn't any way to redeem points from the Wander Card for maximum value (beyond 1 cent per point).
  • Earn 10,000 bonus points after spending $1,000 on eligible purchases in the first 90 days and redeem for a $100 statement credit, gift cards, or travel
  • Earn 10x points on eligible hotels and car rentals booked through the Credit One Bank travel site
  • Earn 5x points on eligible travel, dining, and gas
  • Earn 1x points on all other purchases
  • Redeem your reward points for statement credits, gift cards, merchandise, flights, hotels, and more
  • With $0 Fraud Liability, you won’t be responsible for unauthorized charges
  • Free Online Credit Score and Credit Report summary, terms apply
  • If you are a Covered Borrower under the Military Lending Act, you may get a different offer
  • See Rates & Fees