Sunday reader questions

Every Sunday I will take some reader questions and post the answers here:

If I cancel a credit card, will I lose the points associated with it?

Depends, but usually no. Most credit card promotions are tied with a separate points program (i.e. Marriott credit card is tied to your Marriott points account.) If you close those credit cards after the points have been deposited into your rewards account, the points are safe, as they’re separate companies (credit card issuer and reward program). Note that this only applies if you cancel the card after the points are deposited. If the points you’re waiting on have not been deposited into the separate reward program, and you cancel the credit card, you’ll probably forfeit those points.