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?
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