Annual Fee Refund
Apr 4, 2014, 2:57 pm
#3
Join Date: Apr 2013
Location: Michigan
Programs: AA, UA, DL, UR, IHG platnium, AirAsia
Posts: 323
Apr 4, 2014, 7:35 pm
#4
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,767
I would guess your AF would be posted on Sept 1st. You can always send a SM to ask Chase when exactly the AF would be billed and what is the last date to cancel to get the fee reversed (60 days from the date it is billed IIRC).
Apr 6, 2014, 5:39 pm
#5
Suspended
Join Date: May 2012
Location: ORD
Programs: AA, UA, AS, DL, BA, F9, IHG Plat, HH Gold, CC Gold, SPG Gold, MR Silver
Posts: 1,786
I would guess Sept. 1st...all my Chase cards always post 1st day of month following month I applied in
Apr 8, 2014, 10:23 am
#7
Join Date: Sep 2011
Location: IAH
Posts: 362
According to my statements (Sapphire Preferred & United Club):
My annual fees also post the 1st of the month after I opened the card.
Is the Marriott card different (60 days)?
The annual fee and charge are non-refundable unless you notify us that you wish to close your account within 30 days or one billing cycle (whichever is less) after we provide the statement on which the annual fee or charge is billed and at the same time, you pay your outstanding balance in full.
Is the Marriott card different (60 days)?
Apr 15, 2014, 7:29 pm
#9
Join Date: Jul 2013
Programs: AA,UA,BA,SPG,IHG Plat, HH Gold, CC Gold, UR, MR
Posts: 195
You have several options at the one year point. If you feel that the card benefits far exceed the 95$ fee, then simply keep the card. You only need to keep one UR earning card open to have full access to the UR program, so another option is to get an Ink Bold or Plus prior to one year anniversary on Sapphire preferred, for example, then downgrading the preferred to the regular Sapphire, which has no annual fee. I always prefer to downgrade instead of cancel for a couple of reasons. One, it obviously helps with your average age of accounts, which affects your FICO score. Also, with Chase, it always helps to keep the credit line open so you can swap it to a new product on a recon call, if necessary.
Apr 23, 2014, 7:57 am
#10
Join Date: Apr 2013
Location: Michigan
Programs: AA, UA, DL, UR, IHG platnium, AirAsia
Posts: 323
You have several options at the one year point. If you feel that the card benefits far exceed the 95$ fee, then simply keep the card. You only need to keep one UR earning card open to have full access to the UR program, so another option is to get an Ink Bold or Plus prior to one year anniversary on Sapphire preferred, for example, then downgrading the preferred to the regular Sapphire, which has no annual fee. I always prefer to downgrade instead of cancel for a couple of reasons. One, it obviously helps with your average age of accounts, which affects your FICO score. Also, with Chase, it always helps to keep the credit line open so you can swap it to a new product on a recon call, if necessary.
Apr 23, 2014, 10:53 am
#11
Join Date: Feb 2013
Location: NYC
Programs: UA 1K, AA EP, Hyatt Diamond, SPG Platinum, M life Noir
Posts: 1,279
Closed accounts generally stay on your credit report and continue to be factored into your credit score for ~10 years after the date of closure. So your AAoA will not lengthen as a result of such a move for at least a decade.
Apr 24, 2014, 7:07 am
#12
Join Date: Feb 2011
Location: NYC suburbs
Programs: UA LT Gold (BIS), AA LT Plat (CC SUBs & BD), Hilton Dia (CC), Hyatt Glob (BIB), et. al.
Posts: 3,299
Data point: I’ve been a relatively heavy CC churner for several years, keeping many accounts for only 3-10 months. Due to a recent military Reserve mobilization I did not make any new applications for almost 1 year and closed all but 3 or 4 longstanding accounts prior to deploying. During that one year my average age of accounts, per CreditKarma, changed incrementally each month from approximately 4 years to approximately about 10 years.
Apr 24, 2014, 10:04 am
#13
Join Date: Feb 2013
Location: NYC
Programs: UA 1K, AA EP, Hyatt Diamond, SPG Platinum, M life Noir
Posts: 1,279
Data point: I’ve been a relatively heavy CC churner for several years, keeping many accounts for only 3-10 months. Due to a recent military Reserve mobilization I did not make any new applications for almost 1 year and closed all but 3 or 4 longstanding accounts prior to deploying. During that one year my average age of accounts, per CreditKarma, changed incrementally each month from approximately 4 years to approximately about 10 years.