Cancelling Your Credit Card? Save Your Points First
Different cards handle points differently when you cancel. Some programs let you keep your balance, others delete it instantly. Know the rules before you close.
Not All Cancellations Are Equal
The impact of cancelling a credit card on your loyalty points depends entirely on how the program stores your balance. Aeroplan and Marriott Bonvoy points are held in a separate loyalty account, so cancelling the linked credit card does not delete your points. Amex Membership Rewards, however, are tied directly to your card — cancel the card, and your points disappear immediately.
This distinction is critical for Canadians carrying Amex Cobalt, Gold, or Platinum cards with large MR balances. If you are switching cards, downgrading, or simply cutting annual fees, you need to act on your points before the account closes.
Point Loss Risk by Card Type
Amex MR Cards
HIGH RISKCards: Cobalt, Gold, Platinum, Business Gold/Platinum
Points expire immediately upon cancellation. No grace period. Sell or transfer before closing.
TD Aeroplan Cards
LOW RISKCards: TD Aeroplan Visa Infinite, Visa Platinum
Aeroplan points stay in your Aeroplan account. You lose future earning but keep your balance.
CIBC Aeroplan Cards
LOW RISKCards: CIBC Aeroplan Visa Infinite, Visa Infinite Privilege
Same as TD — points are in your Aeroplan account. Cancelling the card has no effect on your balance.
Marriott Bonvoy Cards
MEDIUM RISKCards: Amex Marriott Bonvoy, various co-brands
Points stay in your Marriott account, but the 24-month inactivity clock becomes important without card spend.
If You Have an Amex Card
Contact us for a quote before calling Amex to cancel. The entire sell-and-transfer process takes 3-5 business days. Once you confirm cancellation with Amex, your points are gone and cannot be recovered. We can help you convert your MR balance to cash via Interac e-Transfer within 48 hours of the point transfer.
Related Guides
What Happens to Amex Points When You Cancel Your Card?
A detailed breakdown of the Amex MR cancellation policy and why timing matters. Covers all Canadian Amex cards including Cobalt, Gold, and Platinum.
Read guideSell CIBC Aeroplan Points Before Cancelling Your Card
Switching away from CIBC? Your Aeroplan points are safe, but selling them before you lose your earning card can maximize their value.
Read guideSell TD Aeroplan Points When Closing Your Account
Closing your TD Aeroplan Visa? Learn what happens to your points and how to convert them to cash before you lose your earning power.
Read guideCancelling Your Marriott Bonvoy Card? Sell Your Points
If you are cancelling your Marriott Bonvoy credit card and have no upcoming hotel stays, selling your points for cash is a practical alternative.
Read guideCard Cancellation FAQ
Cancelling a Card? Sell Your Points First
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