Million Mile Secrets reader, Fran, emailed:
I was told by an AMEX representative that I would lose my AMEX Membership Rewards points if I cancel my Premier Rewards Gold Card from American Express. Is this true?
Generally speaking, if you cancel a card that earns flexible bank points, you will lose them. This goes for cards that earn AMEX Membership Rewards, Chase Ultimate Rewards, and Citi ThankYou points.
Certain banks give you a grace period to use points after cancelling a card. But there are also a few ways to preserve them.
I’ll explain how to avoid losing flexible rewards points.