Annual Fee

Discussion in 'General Discussion | Credit Cards' started by TUMD, Jan 13, 2014.  |  Print Topic

  1. TUMD

    TUMD Silver Member

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    Are you able to cancel your card and not pay the fee once it is on your statement? The reason I ask is that I signed up for the AA Exec Card for the 60K points and the lounge since I would be flying AA a lot but I don't think I want to pay it next year. I signed up around Oct. 10th but have an AA flight Oct 20th. Could I fly and use the lounge and then cancel the card after that assuming there is no additional amount on the card other than the $450 fee. Does it usually post the month you first signed up or the next?
     
  2. iolaire
    Original Member

    iolaire Gold Member

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    Generally Amex refunds the annual fee at a pro rated basis, so you should be able to cancel at any point and get a prorated amount back. If you have a zero balance its via check at some point.
     
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  3. TUMD

    TUMD Silver Member

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    This is a AA Citi card. Do they have the same policy?
     
  4. miles and smiles
    Original Member

    miles and smiles Gold Member

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    As far as I know, all credit card companies give you at least 30 days to cancel after an annual fee posts. I never cancel a card until after the fee posts.
     
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  5. iolaire
    Original Member

    iolaire Gold Member

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    Completely miss read your post, sorry, don't know on Citibank...
     
  6. flynhwn

    flynhwn Silver Member

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    As long as you don't charge on the card on the renewal month they will reverse it. I've done it several times.
     
  7. John Deere

    John Deere Silver Member

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    They must give 60 days from when the annual fee posts
     
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  8. TUMD

    TUMD Silver Member

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    Great info! Thanks everyone.
     
  9. satman40

    satman40 Gold Member

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    I have done timer than once, I now put a Sticker on the card and the cancel date in my appointment book.

    It helps to apply for a new card and use the old one as a trade, in case you need a reason for asking for a different card, should they ask.

    As a rule bank love to give out CC's,
     
  10. Pizzaman
    Original Member

    Pizzaman Co-founder

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    You can also try cardwatchdog.com. I'm not affiliated with them in any way but their product is useful for remembering annual fees.
     

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