Video: Before You Cancel a Credit Card, Watch This

If a credit card’s annual fee is coming up and you can no longer justify keeping it, your first instinct might be to go ahead and cancel the card.

In this video, we’ll discuss a few things you should always do before cancelling, whether it’s ensuring you’ve squeezed every drop of value out of the card, considering alternative downgrade paths, or asking for retention offers and annual fee waivers.

By implementing these strategies, you’ll be able to secure the most favourable outcomes from your time as a cardholder, or you might even find yourself being swayed into renewing the card with retention offer as a surprise extra bonus.

Without further ado, you can watch the video below:

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1 Comment
  1. markunin

    Hi, Ricky! Thanks for a nice input on all those steps. A quick question, would it be possible to upgrade your card back to a higher tier one after you downgraded? For example, an annual fee is coming up, you downgrade to a no-fee card, and then half a year later you upgrade again to the same or different higher tier card. Doable? Will we get the welcome bonus again?
    Thanks!

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