Transfer AMEX Rewards then cancel card
Feb 2, 2010, 6:02 pm
#1
Original Poster
Join Date: Jan 2007
Posts: 114
Transfer AMEX Rewards then cancel card
I searched the forum and didn't see an answer to my question so here goes.
Is it possible to get the AMEX Gold membership reward card with the first year free then transfer the points to an airline/hotel rewards program and cancel the card before the fee is due. Is there any chance of losing the points once they are transferred if the are not used before cancelling the card. Has anyone been able to do this?
The reason I am asking is because the Thank You Network is now deducting the points you earned if you cancel your credit card.
Is it possible to get the AMEX Gold membership reward card with the first year free then transfer the points to an airline/hotel rewards program and cancel the card before the fee is due. Is there any chance of losing the points once they are transferred if the are not used before cancelling the card. Has anyone been able to do this?
The reason I am asking is because the Thank You Network is now deducting the points you earned if you cancel your credit card.
Feb 2, 2010, 8:48 pm
#2
Join Date: Jun 2006
Posts: 795
From my own experience, you only forfeit unused points, thus points you already transferred are safe in your airline/hotel account. As for Thankyou points, you do indeed lose the points on your TYP account if you close the sponsor account. But then again if you actually use the points to issue a reward (transfer from the credit card to your TYP account is not considered a real transfer), there will be nothing to lose.
Feb 2, 2010, 9:19 pm
#4
Join Date: Jun 2006
Posts: 795
Each credit card that earns you TYP and is linked to your TYN account IS a sponsor account. If you close that (sponsor) credit card the points earned from it will be removed from your TYN.
Feb 2, 2010, 10:28 pm
#5
Join Date: Dec 2005
Location: NYC
Programs: SPG, AA, BA, CO, UA, US, B6, DL, Amex MR, HH
Posts: 1,009
Once AMEX transfers its MR points into another program, I don't believe that they can transfer them back - to AMEX it's as if they've been spent. If, however, there's a credit on your account and requires the debit of points, you'll have a negative number in your MR account, which you'll have to pay for if you close your account at that time (I think at $0.025/point).
Feb 3, 2010, 11:13 am
#7
Join Date: Feb 2005
Location: Long Island, NY
Programs: AA Lifetime Platinum 3mm, Starwood Gold
Posts: 227
From my own experience, you only forfeit unused points, thus points you already transferred are safe in your airline/hotel account. As for Thankyou points, you do indeed lose the points on your TYP account if you close the sponsor account. But then again if you actually use the points to issue a reward (transfer from the credit card to your TYP account is not considered a real transfer), there will be nothing to lose.
Feb 3, 2010, 3:09 pm
#8
Join Date: Dec 2005
Location: NYC
Programs: SPG, AA, BA, CO, UA, US, B6, DL, Amex MR, HH
Posts: 1,009
If you don't use them, then yes, once you cancel the card, your MR membership will end approx. 30 days after closing the card, and all points still left in the account will be lost.
Feb 3, 2010, 4:52 pm
#9
Join Date: Aug 2005
Location: Cincinnati, OH
Programs: Starwood Gold, HiltonHHonors Silver, Marriott Silver, Delta SkyMiles
Posts: 1,775
The key is to quit all new spending 3 months before the renewal to make sure that you can transfer all MRs prior to canceling.
Feb 3, 2010, 9:09 pm
#10
Join Date: Dec 2009
Programs: Hyatt Passport Platinum, IHG Platinum and Club Carlson Gold
Posts: 57
Good thread. Because I will not be able to transfer MR points to Southwest after 07/01/10 I intend to cancel my Premier Rewards card before the annual fee is due. I will stop using the card about three months before the annual fee is due and transfer all my MR points to my Southwest before cancellation. I would have kept the card if AMEX and Southwest remained partners.
Feb 4, 2010, 4:14 pm
#13
Company Representative - Amex
Join Date: Aug 2009
Posts: 221
Hi ssanto8403,
If you transfer the points before you cancel the card, you will not loose the points. You can also transfer the points to another Amex charge card product should you choose a card that better suites your needs. Our website enables you to compare card features and benefits to find one that fits your style and budget. http://www.americanexpress.com/getthecard/home
I hope this helps!
Warm regards,
Kim
Amex Customer Care
If you transfer the points before you cancel the card, you will not loose the points. You can also transfer the points to another Amex charge card product should you choose a card that better suites your needs. Our website enables you to compare card features and benefits to find one that fits your style and budget. http://www.americanexpress.com/getthecard/home
I hope this helps!
Warm regards,
Kim
Amex Customer Care
Feb 4, 2010, 5:35 pm
#14
Join Date: Feb 2005
Location: Long Island, NY
Programs: AA Lifetime Platinum 3mm, Starwood Gold
Posts: 227
I did not fully explain my situation. I had a Green Amex card and then in addition I got the Rewards Gold card so I could keep different types of charges seperate. The Gold card membership rewards are transferred into the original MR account that goes with the original Green card. Two cards, one MR account. Given this situation, IF I feel the need to cancel the Gold card, are the points generated by the Gold card safe within the "dual" MR account or will there be an attempt to back out the Gold card contributions?
Feb 4, 2010, 6:51 pm
#15
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,959
