Will I Lose Miles by Canceling the US Airways MasterCard?
Update: Some offers mentioned below are no longer available. View the current offers here.
TPG reader Chris asked me on Facebook:
"The US Airways Premier World MasterCard says my account must be open for miles not to expire. If I pay the annual fee, earn the bonus, and then cancel the card shortly thereafter, will I lose my miles?"
Wording on credit card applications and marketing material can be confusing, and I'm constantly getting questions like this one. Airline credit cards often say that as long as you have the card open, your miles won't expire. Another common wording is that if you cancel your card, your miles are "up for expiration." However, that does not mean that your miles will expire the minute you cancel your card.
TPG reader Chris is worried that after he gets the US Airways Premier World MasterCard, pays the $89 annual fee, and makes a purchase to earn the sign-up bonus of 40,000 Dividend Miles, he will lose the miles if he cancels the card.
Chris, don't worry, because even if you cancel the card, your miles are still eligible for 18 months. However, my suggestion to you is to not cancel the card right away. Keep it open for at least six months to one year. Then you can call and see if they'll waive the next year's annual fee or give you bonus miles, as they often really want to retain you as a customer.
The US Airways Premier World Mastercard has a lot of ongoing perks, like a companion ticket (which is actually going away in 2015, but you may still be able to use it). So don't cancel this card right away, as it happens to be one of the top cards on the market right now--I actually just got it myself.
Anyway, this card (along with the United MileagePlus Explorer Card) uses verbage to try to make you think you will lose miles if you cancel, but you won't. The miles you get from opening a co-branded airline credit card go into your personal frequent flyer account. Assuming your US Airways account is in good standing and you aren't doing anything against the terms and conditions of the frequent flyer program, you won't lose them.
Remember, there are lots of ways to keep your account active and prevent those miles from expiring at the 18 month mark, like just buying something from a shopping portal. You can find more information on keeping those miles from expiring here.
If you have any other questions, please tweet me @thepointsguy, message me on Facebook, or send me an email at info@thepointsguy.com.
TPG featured card
at Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app