Applying for and cancelling BOA Alaska Air card before annual fee hits. Consequences?
I applied for the Bank of America Signature card a week ago and ended up getting approved for the 10,000 mile Platinum Plus offer instead. My miles posted instantly, so I went ahead and made a booking with the miles on AS.
The card has a $50 annual fee which is NOT waived the first year, but after contacting BOA they told me the fee would post in August. My question is this: If I cancel the card now to avoid paying the fee, what would happen? I already spent the miles, so they couldn't take them back. Am I missing something here?