What happens to Chase Freedom Rewards if they close account?

[Anonymous]

I have been reading about all the WAMU to Chase cards being closed.  PC'd my WAMU to Freedom Plus.

I am curious what they do to your accumulated rewards upon closure?  Do they vanish?  Do they apply to balance?

My account is still untouched, but I am just about to the $200 (to get the $50 bonus) and would be really annoyed to find out that if they closed the account they zapped the rewards without consideration.

Anyone got the scoop on this?

[wmarat]

Forfeited.

[Anonymous]

Now that would get me a little heated, if they closed and forfeited my rewards for anything short of default. 

[wmarat]

Cash it out now.

[score_building]

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@wmarat wrote:
Cash it out now.

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rewards have to be cashed out as frequently as possible these days.

[Anonymous]

I'm at $173.  They only let you take $100 or $250 ($200 plus $50 bonus).

Chase is sending me tons of the "We'll give you $125 to open a checking."  I wonder if opening a checking and linking it to CC gives me any better treatment down the road.

So far nothing adverse or news, but from what I'm hearing they don't forewarn. 

[creditwherecreditisdue]

Open up as many accounts as you want, I doubt you will be better treated. Different divisions of a demented company.

The rewards will be gone. (POOF!) That will probably be a profit consideration in an upcoming round of account closures. Now you know why I like PenFed's reward system.

[mrpeabody]

They took all my points that had carried over from wamu. 44000 points Gone. I hate chase. I have 3 other Chase cards, but I won't do business with a company like that. I have $250,000 worth of credit cards so cutting them from my card list will not kill me. The kicker is I also have almost $1,000,000 in accounts with Chase bank. I am moving all my company accounts over to Citi.  

[score_building]

mrpeabody wrote:
They took all my points that had carried over from wamu. 44000 points Gone. I hate chase. I have 3 other Chase cards, but I won't do business with a company like that. I have $250,000 worth of credit cards so cutting them from my card list will not kill me. The kicker is I also have almost $1,000,000 in accounts with Chase bank. I am moving all my company accounts over to Citi.  

Ha!  and you're a whale to boot, wow. that's nasty-what they did

but out of the frying pan into the soup pot?  have you considered local, regional or CU options...

[mrpeabody]

I do use a local credit union for some things, but with my business accounts, I need some services that often are not available at my local credit union. I am in the wine business and we do a lot of international business. I know Citi can be as dubious as any other bank.