Originally Posted by
Mudhen
Only if your timing is perfect. I cancelled mine a few months ago when they jacked the rate and had quite a few reward dollars stranded. Generally, any awards that have not been transferred at the time you cancel the card will remain the "property" of the card issuer.
Well my current statement (with the annual fee billed on it) ends on the 14th. I had some reward dollars left over from my last statement. This statement should bring me to $2400, but there's a chance some of those recent charges might not post until after my statement runs. So I know I'll get at least 1 credit for this statement, but I'm not so sure about the other credit if some of those charges don't post in time.
Sometimes they will comp you the fee if you have been spending a lot on the card. You have 30 days after the statement to ask to close the account and reverse the fee. You will likely keep the 2 credits for the anniversary of opening the account. You will be able to get another card in the future (wait for the 16 credits for first purchase offer) but you might have to wait up to a year.
Thanks for the advice. When did they offer a 16 credits for 1st purchase offer? Was it targeted? The only offer I've ever seen is 8 credits for 1st purchase and up to 8 credits for balance transfers (+$20 off a SW flight if you apply through the link on southwest.com).