You don’t need to call. You can request transferring hte limits around via secure message.
So if I plan to apply for a mortgage in the next 5 years or so, should I still be opening up so many cards per year and then canceling them before the fee comes due? At what point do I need to stop?
Five years? Don’t worry about it until Year 4.
Just keep an eye on your score. If it starts to drop slow down. If your scores above about 780 I wouldn’t think twice about it.
I usually cancel my card after the next year fee posts. You usually have 30-60 days to cancel and if you haven’t used the card they will usually wave the fee after that.
There are two categories for me: one sign up bonuses. Two: everyday category cards and that have good points on categories.
I don’t really churn that much, but I just got the Southwest 50k points for the second time. I got the signing bonus a few years ago the first go around.
Timely article in today’s WSJ. I’ve used the “late fee” waiver on occasion, but never considered to ask about waiving a card’s annual fee.
We’re writing an article on this now, so if anyone has experienced a positive or negative outcome with either scenario, I’d love to hear about it. Email me at [email protected].
Good grief are you for real?
Do you enjoy your holidays or are you too busy measuring how to maximize your points.
Just remember there’s holidays and there’s holidays! My friend.
Living the Dream!
I keep cards with annual fees. I just make sure I’m getting more points/rewards/cash back than the fee. Basically it’s a value call.