What happens to your credit card if you switch LOC's?

[jO-M]

Hi all,

 

Long story short I'm thinking about switching banks (from RBC to something else) and was wondering if any one knew what happened to my RBC Avion card? Obviouslly I won't qualify on my own because my yearly income is too low/0, but will they cancel it? It needs to be renewed in July...will they just not renew it?

 

It's more so the points I'm attached to....there's a lot, at least for a nice trip or two

 

Somewhat urgent, so if anyone has any insight, would love to hear it!

 

Thanks!!!!

[justletmein]

Not sure if they will cancel it, but they will not waive the fee if you close your other accounts... Still, your points don't disappear -- you could easily just switch to a more basic cc without annual fee.

[CIBC_Professional Edge]

Once you have a credit card, banks cannot cancel them unless you become delinquent, violate the terms of use, or no longer qualify under the credit card program (ie. you are a student and you graduate). Even if you move your LOC away from RBC, your Avion will remain in place until you close it.

 

As the other poster stated, they may start charging you an increased annual fee if you received a discount through their student program. You would probably want to consider having your new Financial Institution take over the credit card. With Avion points, you will have 60 days from cancellation date to fully use your points.