It's coming up to that time in the year where I start to evaluate all of my credit cards and whether or not I should keep them. This typically occurs when most of my card anniversaries occur and the possibility of annual fees are levied. Often times you can avoid the annual fee by calling up the number on the card and explaining to the agent that you're investigating your options and credit, and see what offers they might have available to help you avoid the fee. Sometimes this works, sometimes not, but there's no harm in asking.
Before I would cancel any card, though, I'd have a strategy in place to have another card ready to take the place of the one I'd want to close (so my credit doesn't change too much). Cards such as the Chase Sapphire Preferred I'll probably never close, since the points earned are so valuable.
My first card churn for 2013 though is the American Express Gold card, which also will open up the Membership Rewards arena for me:
While not as good as Ultimate Rewards through Chase, Membership Rewards has many more airline transfer options (and earns triple points when buying airfare). Here are the card highlights:
Before I would cancel any card, though, I'd have a strategy in place to have another card ready to take the place of the one I'd want to close (so my credit doesn't change too much). Cards such as the Chase Sapphire Preferred I'll probably never close, since the points earned are so valuable.
My first card churn for 2013 though is the American Express Gold card, which also will open up the Membership Rewards arena for me:
While not as good as Ultimate Rewards through Chase, Membership Rewards has many more airline transfer options (and earns triple points when buying airfare). Here are the card highlights:
- Earn More: earn 25K Membership Rewards® points when you spend $2K during your first three months of Card membership; earn 15K points when you spend $30,000 within one calendar year
- Earn Fast: Earn triple points on airfare, double points on gasoline at U.S. stand-alone gas stations, double points at U.S. stand-alone supermarkets and single points on other purchases
- Points are earned only on eligible purchases
- Redeem with Flexibility: use points for gift cards for dining, entertainment, and to shop over 300 of some of your favorite brands
- Access to Protections: Baggage Insurance Plan* when you travel, and shop with confidence with Extended Warranty* and Return Protection.*Underwritten by Amex Assurance Company
- $0 introductory annual fee for the first year, then $175
$0 introductory annual fee for the first year, then $175
ReplyDeleteIt's like their target audience is churners.
It does help with the first year free - I'm not going to complain!
ReplyDelete