Cancelling credit card and annual fees

[whawthorn2345]

Hi,

I am new around here and just have a quick question!

If I was to cancel my credit card after 3 months of using it, would this mean that I wouldn't have to pay the $395 annual fee or is this still due even if you do cancel?

For context, I have signed up to the American Express Explorer credit card.


Cheers,

 

[piratematerial]

It’s charged at the end of the first month with the first statement (unless you have some kind of free first year or cashback offer). You wouldn’t generally get a refund. Certainly not if you’ve used the $400 travel credit.

After 1 year they charge at the end of the first month again so you get a month’s grace to cancel without getting charged a second time.

 

[NM]

Some card providers do provide a pro-rata refund of annual fees, others don't.

 

[Dr Ralph]

Pro rata refund of fees should be possible if you haven't used any benefits - such as a travel credit.