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.
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Rewards Rate
| 2X miles | 2 miles per dollar on every purchase |
| 5X miles | 5 miles per dollar on flights and vacation rentals booked through Capital One Business Travel |
| 10X miles | 10 miles per dollar on hotels and rental cars booked through Capital One Business Travel |
Intro Offer
Earn 200K miles when you spend $30K in the first 3 months, and an additional 200K miles when you spend $150K in the first 6 monthsLIMITED-TIME OFFER: Earn up to 400K bonus milesAnnual Fee
$395Recommended 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.740-850Excellent
Why We Chose It
The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
- The Capital One Venture X business card has a very lucrative welcome offer.
- In addition, the card comes with many premium travel perks such as an annual $300 credit for bookings through Capital One Business Travel.
- Business owners are also able to add employee cards for free.
Cons
- The card requires significant spending to earn the welcome offer.
- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
- Receive up to a $120 credit for Global Entry or TSA PreCheck®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month
- Top rated mobile app