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You can get a partial refund on your annual fee when you cancel a Citi card. This is even if you cancel it after 6 or 7 months!
Citi Refunds Annual Fee on Credit Cards
You get a refund on the unused portion of your annual fee when you cancel a Citi card.
I don’t cancel credit cards until I’ve had the card for ~8 to 10 months. Then I evaluate if the benefits of keeping the card (priority boarding, free hotel night, etc.) are worth the annual fee.
Sometimes the benefit is worth keeping the card, but other times it’s not. But before you cancel a credit card, you should make sure you won’t lose your miles and points.
And it’s easy to cancel a credit card before your annual fee posts. You should call ~2 to 4 months before your annual fee is due.
When you cancel a personal Citi card, you can get a refund on the unused portion of your annual fee. However, per this Flyertalk thread, you can NOT get a partial refund on the annual fee on a Citi Executive card. You will get a refund IF you cancel the card within 37 days. After 37 days, you will NOT get a refund for the $450 fee on the Citi Executive card.
To cancel a Citi card, you should call the Citi retention specialist at 800-444-2568.
Partial Annual Fee Refunds on Other Credit Cards
You can also usually get a prorated refund of the annual fee on AMEX cards.
With Chase credit cards, you usually have to call within 30 days of the annual fee being charged to get a refund on the annual fee. If you do NOT call within 30 days, you will NOT get a refund.
You can get a prorated refund on your annual fee when you cancel a personal Citi credit card, like the Citi Hilton Reserve card. But you will NOT get a partial refund on the annual fee on a Citi® / AAdvantage® Executive World Elite™ Mastercard® UNLESS you cancel your card within 37 days.
You should evaluate whether the benefits are worth keeping before you cancel a card. Usually you will NOT lose your miles and points when you cancel a credit card, but you should double-check.
You can also get a partial refund when you cancel an AMEX card. You have to cancel a Chase credit card within 30 days of paying your annual fee or you will NOT get a refund.
What’s your experience with getting an annual fee refunded when you cancel Citi credit cards?