More than a month after the sudden and dramatic collapse of Spirit Airlines—which left thousands of travelers and former Spirit employees scrambling—Free Spirit Travel Mastercard and Free Spirit Travel More World Elite Mastercard holders are still in limbo about the future of their points.
Bank of America, which issues the cards, has periodically reached out to holders to remind them that the cards are still usable for new purchases, but banked points can’t be redeemed or applied toward other rewards programs.
While not entirely unprecedented, the lack of clear next steps for customers stems from the rarity of Spirit's implosion, even compared to other airline failures.
“It’s especially unusual that the cards remain open while the airline is not simply in restructuring, but rather in liquidation,” says Dave Grossman, founder of Your Best Credit Cards. “[Braniff International Airways’] bankruptcy in 1982 would seem to be the most recent similar case.”
So what should Spirit cardholders do?
Try to get your annual fee refunded.
“Cardholders can contact us to request an annual fee refund,” a Bank of America media spokesperson tells Frommer’s. That rep also confirmed the $79 annual fee for the Free Spirit Travel More World Elite Mastercard will not be charged moving forward.
Annual fee refunds are not automatic, and Bank of America won’t clarify a cutoff date for when fee refunds will be declined rather than approved. From what we’ve seen online, cardholders have reported varying degrees of success, even for fees that were paid in 2025.
To inquire about an annual fee refund, call Bank of America’s credit card services line at 800/732-9194. If your request is initially declined, we recommend being polite but persistent. A supervisor may have more authority to initiate a refund, especially if you’re sitting on a trove of (now useless) points.
And speaking of points . . .
Don’t hold your breath to be compensated for accumulated Free Spirit points.
"They are almost certainly a lost cause as they are at the bottom of the debt stack,” Grossman tells us. “There’s unlikely to be any funds left to provide any value and Spirit has confirmed that compensation for customers who booked using loyalty points, vouchers, or credits will be handled via the bankruptcy process.”
You can try asking your questions about Free Spirit points by emailing spiritairlinesinfo@epiqglobal.com—but we predict those inquiries will sit around rusting along with Spirit’s fleet.
You can initiate a change to a different card.
At this time, it’s unlikely even Bank of America knows all the details of an eventual Spirit card product transition. But current customers don’t need to wait for a big announcement.
“Current cardholders are welcome to review our available card options and contact us to request a product change,” says the Bank of America spokesperson. Unlike closing a card, switching your account to a new one has no negative impact on credit scores.
Historically, transition options have included these annual fee-free Bank of America cards:
- Customized Cash Rewards
- Travel Rewards
- Unlimited Cash Rewards
In most cases, closing your Spirit credit card isn’t recommended.
It might feel silly to hang onto a credit card for a defunct airline, but closing the card outright could negatively impact your credit score in two different ways.
The first is that a card closure could shift the average age of your various accounts, which is one of the factors calculated by credit bureaus and credit scoring companies to determine your borrowing power. This would have less of an impact on newer customers, but could cause a serious dip in credit scores for customers who’ve held the Spirit card for years.
Second, by cutting off your access to credit from that closed card, you risk heightening your utilization percentage, i.e., the amount of revolving credit you use from what's available to you. Closing a credit card can increase that ratio—and lower your credit score—even if you don't spend more money than usual.
Our recommendation is to inquire about a product transfer, which would put your spending toward actually redeemable rewards.
If you simply choose to stop using your Spirit credit card without closing it, consider setting up usage alerts to prevent fraud or forgotten subscription renewals.
But don't close it.