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Step 7: Don’t Cancel Your Card Too Soon

Now that you have met your minimum spending and earned your sign-up bonus, do NOT cancel your card!

Get More Miles for Travel by Clicking Through Shopping Portals Before Shopping at Your Favorite Stores
Canceling Your Card So Soon Could Put You Out of the Game!

Canceling your card right away will make the banks unhappy.  They could even decide to blacklist you.  Which would mean no more credit cards and no more Big Travel with Small Money for you!

If you have applied for cards with annual fees, you should evaluate whether or not the card is worth paying the annual fee after ~8 to 10 months.

Before canceling, read this post to find out if you will lose the miles or points which are already in your account. Read my post on When to Cancel Your Credit Card to help with your decision.

Emilys 4 Cards 140,000 Miles 600 In Statement Credits
Cancel Cards That Aren’t Worth The Annual Fee

Don’t worry about it being a hassle if you decide not to keep the card, the banks are happy to close your account for you.  You can also have the bank switch you to a card that doesn’t charge an annual fee.

While no annual fee cards typically don’t have as many benefits, this will help you keep fostering a good relationship between you and the bank.  The bank might even make this call easier for you by offering you some incentives to keep the card.  They could give you a statement credit or additional miles to help cover the annual fee.

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