Yes, as long as you transfer the CSR or CSP UR points to the Freedom account you'd keep them. Yes, they would then be worth only 1 cent per point. If cash back is your goal then that is fine. If travel is your goal, you might be shooting yourself in the foot. Freedom points cannot be transferred to airlines or hotels. With my travel goals, this paramount. If I have 50,000 points from a cash back card, like the Freedom they would be worth $500. However, if I take the same 50,000 points on a card that allows me to transfer to an airline, like CSR or CSP, I can get a to or from Europe on a saver award ticket in first class that would cost about $10,000. I've done exactly that numerous times by transferring my UR points to United or BA etc. On a cash back card I would need one million points to pay for the same flight I could get by transferring 50,000 UR points to the airline....