The Motley Fool Discussion Boards
Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: Best cash back CC||Date: 12/8/2013 2:36 PM|
|Author: Retrograde||Number: 307558 of 309250|
When they start charging a fee it is time to immediately cancel as the fee more than offsets the reward.
That depends on the card. I have a Costco Amex card with cashback rewards and the fee for the card is also my annual Costco membership fee. Since I was already going to pay the membership fee, getting a card didn't add any extra expense.
But I do agree that you can either start the new card & then cancel the old card or reverse the order. It just depends on what you need to do in the meantime:
- will this leave you with no cards for a time?
- will overlapping your card accounts affect your credit score enough to change rates?
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|