Cardless Closes Its Sports Team Credit Cards Without Warning

Cardless sports credit cardholders have abruptly found themselves — literally — cardless. As first reported by Travel on Points, Cardless has announced the sudden and immediate closure of its sports credit cards.

These niche and surprisingly lucrative cards gained popularity quickly, but with some questionable practices at play, it’s no surprise to most that this move was coming.

Let’s talk about why these sports credit cards just didn’t make the cut.

Covering Your Bases: What Were Cardless Sports Credit Cards?

Though the announcement to close Cardless’ sports credit cards came without warning, there were signs that these sports team credit cards weren’t making the cut.

Cardless first unveiled its sports credit cards in 2020. By partnering with various sports teams, Cardless was able to offer fans a new and unique product with many enticing benefits.

For example, Cardless teamed up with the Boston Celtics to create a card benefitting die-hard and casual fans alike. Like most of its other sports credit cards, it featured a $300 sign-up bonus and no annual fee at the time of launch.

Users could earn 2x points per $1 spent on grocery and drugstore purchases, 4x points on dining, and 7x points on ride-share and streaming services. That 7x also applied to Celtics merchandise purchases — on top of a 10% discount. Slam dunk, right?

It’s easy to see why Cardless sports credit cards developed a fast following. One major downside to Cardless credit cards, however, is that users have been limited to choosing one card for life. Celtic fans may have been committed “from the womb to the tomb,” but Cardless’ draconian limitations and sudden closure means they’re now left with no credit card and no way to get another.

Were Cardless Sports Cardholders Really Blindsided?

Another concerning change emerged around Cardless’s promise that these cards would not be reported to the credit bureaus and, therefore, would not affect user’s credit reports. Cardholders quickly found out that that wasn’t the case, and their credit reports were impacted.

All of these red flags stirred up speculation about the longevity, and ultimately the profitability, of these cards.

Final Thoughts

Cardless sports credit card holders have received emails that their accounts have been immediately closed. This announcement has left cardholders disappointed and scrambling.

Because of Cardless’ 1-card policy, those with canceled cards can’t pursue applications for different Cardless credit cards. Though a number of other Cardless card options exist, there is currently no solution for replacements. Cardless has publicly stated that it’s working on a resolution.

This announcement has left a trail of frustration in its wake. As for the future of Cardless? The ball is in their court.