Questions and Answers

My wife has both the Chase Sapphire Reserve and preferred cards. We want to close the preferred before the annual fee in the next month. We have not used any of the preferred points. What are the best options for transferring the points? Transfer to a partner my wife is likely to use? Or is it safe to transfer them to her Reserve account balance? When I go to the transfer page between accounts (not partners) it states something to the effect that if Chase suspects you are only using the card for bonus points for the they can freeze the account etc. Is that likely to happen if she transfers the preferred points balance to the Reserve then cancel the card in a few weeks?

Transfer the points to the Reserve UR account and then close the Preferred card – that’s not a problem at all, especially since youre canceling after holding the card for at least a year.

I believe the points become more valuable when transferring to the Reserve. Instead of closing my Preferred, I downgraded to the Freedom card, which has no annual fee and quarterly bonuses at 5X for $1. I then transfer those points to my Reserve as well.