Cancelling credit card - when do they downgrade status
I have a UK IHG Credit card, fee-paying at £99 a year, which gives me Platinum IHG status.
Thing is, right now, and for a while, I'm not going to be travelling enough to get the full benefit from my £99, and for the little amount of leisure travel I foresee, I'm spreading my hotel loyalty too thinly over 3 different schemes - Hilton, IHG and hotels.com.
I'm likely to retain silver at Hilton based on stays and could possibly have a go at getting Gold, but I won't be able to do this for two chains. I'd rather have the money, I think.
Will I downgrade back to "Club" as soon as I close the card account? Or will it last until the end of the membership year?