When you cancel your Triangle Mastercard account, the associated Triangle Rewards program account is also affected, as both are linked.
Understanding how your Triangle Rewards points (Canadian Tire Money or CTM) are treated after cancellation is essential to avoid losing valuable rewards.
What Happens to Triangle Rewards Points after Triangle Mastercard Cancellation?
- Forfeiture of Unredeemed Points: If you cancel your Triangle Mastercard, any unredeemed Triangle Rewards points or Canadian Tire Money accrued under that account will be forfeited. It is important to redeem or use your points before closing the account to maximize value.
- Reward Account Closure: Membership in Triangle Rewards is tied to your credit card; cancelling the card typically results in the closure of your Triangle Rewards account linked to that card. This means points expiration unless transferred or redeemed prior to cancellation.
- No Points Transfer: Points generally cannot be transferred to another account or card once the account is closed. Each account earns and holds points separately, so a fresh card account starts with zero points.
- Redeeming Points Before Cancellation: Canadian Tire offers multiple redemption options including in-store purchases, online shopping, and partner redemptions. Redemption before cancellation ensures no loss of earned rewards.
Recommendations for Cardholders
- Review your Triangle Rewards balance and redeem points before initiating card cancellation.
- Plan redemptions strategically for maximum benefit, especially if you have a large balance.
- Contact Canadian Tire Financial Services customer support if you have questions about points or redemption options before cancelling.
Ref: https://triangle.canadiantire.ca/en/support/membership-and-account.html
Summary:
Canceling your Triangle Mastercard typically results in losing any remaining Triangle Rewards points linked to the account. Prompt redemption before account closure is the best way to preserve the value of your rewards.
