Originally Posted by
AirFjord
When signing up for multiple cards on an ongoing basis, how do you handle the pile-up of all the annual fees?
I see some bloggers sign up for 6+ cards every few months. As they do not mention canceling their previous cards, it seems that they would rack up substantial annual fees for all those cards.
For instance, if they sign up for 10 cards in one year, each having an annual fee of $100 (give-or-take), that $1000 annual fee seems hard to justify. [Take it one step further; if that same person signs up for 10 cards, three years in a row, they now have a $3000 annual fee].
Are the sign-up points worth the on-going annual fees of having so many cards? Or, is there a strategy of cancellation when doing so many on-going sign-ups?
Thanks!
I have been churning cards a pretty good clip ( but nothing compared to soem on here ) since 2006.
Make an excel spreadsheet with the card number , signup date, bonus and a column for date closed
Get the card, meet the spend , get the points, put the card away and cancel at about the 9 month mark , 3 months before annual fee is due. You can cancel VIA SM and save the phone call if you would like.
My goal is 6 domestic R/T airline tickets per year and 10 hotel nights at a CAT 7 Hilton or the equivalant Sheraton, Marriott, etc
With Northwest, Continental and soon to be USAIR gone it is getting harder but can still be done
I have never paid an annual fee as I can always cancel the card and move on to another brand then come back.
I may break that rule and pay $49 AF for the IHG card as it's a free night in any category IHG hotel.
Marriott has the level hotel you can stay at capped (IMO) too low to pay an annual fee of $85 for a category 1 - 4 hotel
Same for the Hyatt