This is the twenty-eighth post in a monthlong series that started here. Each post will take about two minutes to read and may include an action item that takes the reader another two minutes to complete. I am writing this for an audience of people who know nothing about frequent flyer miles, and my goal is that by the end, you know enough to fly for free anywhere you want to go.
Most travel credit cards have an annual fee. One of the main questions people email me to ask is whether they should cancel one of their rewards cards before the next annual fee.
Whether you got a card from my list of top current credit cards or from a personalized suggestion during a Free Credit Card Consultation, eventually you’ll probably wonder whether the card is worth keeping through its next annual fee.
I’ll lay out the two-step process you should use to determine which cards to keep and which to cancel.
How do I approach the decision of whether to keep or cancel a card?