What is a cardmember year?

What is a cardmember year and why does it matter?

A card account runs on more than one clock at once. The cardmember year is the account's own anniversary cycle: it begins on the date the account is opened and rolls over every twelve months after that. The calendar year is shared by every account and resets on 1 January regardless of when a card was opened. The statement cycle is shorter again, running from one billing statement to the next.

The difference matters because card-level terms attach to different clocks. The annual fee is a card-level charge, and whether it falls inside a given twelve months depends on the account's cycle rather than on the year on the wall. Recurring credits and vouchers usually become available once per cycle and are lost if they go unused. Anniversary awards — a free night certificate on a hotel card, for example — are issued when the cycle turns. A product change made a few weeks before or after that turn can decide whether the old card or the new one carries the fee and the benefit for the year ahead.

Because the anchors differ, an "annual" figure on a marketing page is incomplete without the clock behind it. A card that resets a credit on the calendar year, charges its fee on the cardmember year and reports on a statement cycle produces three different "years" for a holder who opened the account in, say, July. Reading the fee schedule and the benefit terms together is what settles which date applies to what. The card annual fee and annual credit entries cover those two components in more detail.

Where do issuers set the cardmember year?

Card-level rules sit in the card agreement rather than in the rewards programme's terms. American Express says so directly: its Membership Rewards terms relate only to the Rewards Program, and terms for a specific product are in the separate document a Card Member receives at enrolment. [5] The same document defines a Card Member as the holder of a Card or Card Account, and excludes from that definition the owner of a checking account and the holder of a debit card. [5]

Chase keeps "Cardmember agreements" as a separate resource on its credit card site [2], and Discover lists "Cardmember Agreement" among the quick links in its help centre [3]. In both cases the agreement is published as a document about the individual account, kept apart from the pages that advertise the card's current offer. [2] [3]

Discover answers the fee question plainly for its own cards: in guidance about accounts moving to Capital One, it says cardholders will keep their Discover card and rewards and will continue to enjoy their benefits with no annual fee. [3]

Which rules use the calendar year or the statement cycle?

Calendar-year limits. Some annual caps are expressed per calendar year. American Express applies one at a deposit redemption rate: a Business Checking account linked to a Business Platinum Card can redeem up to 1 million points per calendar year at the Business Platinum rate of 1,000 points for a deposit, and the standard rate of 1,000 points for an $8 deposit applies beyond that. [5] The limit is written per calendar year rather than per account year. [5]

Statement-cycle rules. Others follow the billing statement. American Express awards points on eligible purchases only if payment of the minimum amount due arrives by the Payment Due Date shown on that billing statement, or, for a Corporate Card account, by the Closing Date of the next billing period. [5] Points accrued in a billing period where that did not happen are not earned at the time, but the Card Member can recover them by requesting the points and paying a fee for each billing period and each Card Account, within 12 months of the billing period concerned. [5]

First-year framing. Advertising often uses a fourth anchor, the first year. Chase lists the United Explorer Card with a $0 intro annual fee, and presents the IHG One Rewards Premier Select Credit Card as offering "over $1,000 in value your first year". [2] Introductory pricing and first-year value are described separately from the recurring annual fees on the same pages. [2]

Exceptions and limits

• Closing the card ends both the cycle and the points. American Express says a Card Member immediately loses all points in the Rewards Account after cancelling or unenrolling the last linked Product; if that last Product is a Corporate Card, the points may be redeemable for up to 30 days after cancellation or unenrollment. [5] See card cancellation.
• Cancellation by the issuer works differently. If American Express cancels a Card Account because of inactivity, the Card Member has 90 days to use the points, and Card Members with a New York billing address can keep using points in listed scenarios for 90 days by calling the number on the card. [5]
• Point transfers are one-way. Membership Rewards transfers cannot be reversed and generally take 48 hours to process, though some partner programmes post points later; transfers to a U.S. airline frequent flyer programme carry an excise tax offset fee per point, subject to a cap. [5] American Express advises checking award availability and the points needed before transferring, because the transfer is final. [6]
• An account can change issuer mid-life. Discover card accounts move to Capital One throughout 2026 and early 2027, with the card, the rewards and the absence of an annual fee unchanged, and account management shifting to the Capital One website and app. [3]

Moving between cards also shifts which cycle applies, as described under card product change.

Frequently asked questions

Is a cardmember year the same as a calendar year?

No. The calendar year starts on 1 January for every account, while the cardmember year is counted from the day the specific account was opened. Some caps are expressly per calendar year — American Express, for instance, applies a 1 million point per calendar year limit at its Business Platinum deposit rate. [5]

Where can I find out when my annual fee is charged?

In the card agreement for the individual product, which American Express issues separately from its Membership Rewards terms [5]; Chase and Discover both publish cardmember agreements as standalone documents. [2] [3]

What happens to my points if I cancel the card?

At American Express you immediately lose all points in the Rewards Account if you cancel or unenroll the last linked Product, although a Corporate Card held as the last Product may allow redemption for up to 30 days. [5]

Is the first year priced the same as later years?

Not always: Chase advertises the United Explorer Card with a $0 intro annual fee, which is stated separately from the standard annual fee. [2]

How long does a transfer to an airline or hotel programme take?

Typically 48 hours to process, though some partner programmes delay posting points, and the transfer cannot be reversed once made. [5] [6]

Related pages

Terms: card annual fee, annual credit, card product change, card cancellation. Browse the full frequent flyer glossary.

Sources

Sources checked on 18 October 2026. Card terms for issuers other than Chase, Discover and American Express — among them Citi, Bank of America, Barclays, U.S. Bank and Wells Fargo — are not covered here, and neither are the airline and hotel loyalty programmes whose anniversary awards can follow a card's own cycle.

1. Chase credit cards: compare card offers and apply online, checked 18 October 2026
2. Discover card help center and frequently asked questions, checked 18 October 2026
3. American Express Membership Rewards program terms and conditions, checked 18 October 2026
4. American Express: how do I transfer Membership Rewards points?, checked 18 October 2026