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Will You Lose Your Ultimate Rewards Points if You Cancel Your Credit Card?

One of the great things that Chase has to offer with their rewards credit cards is the ability to combine points from their different Ultimate Rewards points earning cards, including personal cards and business cards, so that you can redeem them for bigger rewards. But, it is important to realize some of the fine print!

You Will Lose Points if You Close Your Card

It is possible to lose all of your accumulated Chase points if you close your credit card, unless you first transfer them to another card that is eligible for earning Ultimate Rewards.

It is also important to know that there is no grace period, and you cannot use the points once you cancel the card that earned them (unless you first transferred them). You also cannot transfer them once you close the card. So make sure that you take care of the transfer, or redeem the points before closing the card.

No Fee to Transfer Points

Transferring points to another card is free, and very simple to do. It is well worth the few minutes that it takes to preserve the points in your account. One of the good parts about being able to transfer points is that you can transfer them to any card that is eligible for Ultimate Rewards.

So, if your spouse has a card that earns Ultimate Rewards points, you can actually transfer to that account. You can only use this option with spouses or domestic partners, so don’t try to send them to a friend’s account.

Special Options

Chase will allow you to transfer your Ultimate Rewards points to certain airline partners or hotel partners before you close your card and lose them. So, if there is a particular travel partner that you like, it is wise to move the points into that account. This is a perk available for those with Chase Sapphire Preferred, Chase Ink Bold or Chase Ink Plus cardholders.

How to Keep Earning

Closing credit cards can be a big decision, but might make sense in certain cases. For example, if you choose to become an authorized user on your spouse’s Chase Ink Bold card, your combined points earning potential can stay the same while only having to pay one annual fee. This is a way that both of you can continue to take advantage of bonus spending categories and rack up the UR points.


Be careful that you never close any card that has a balance of rewards points, because you run the risk of forfeiting those points, which would be a shame when there are so many great ways to use them through the Ultimate Rewards portal. Consider all of the options before closing a card, including what the closure might do to your credit score.