Things to do before canceling a credit card

If you are considering cancelling a card because you don't want to pay the annual fee that is about to become due, you may be able to reduce or avoid the fee, or get a worthwhile number of miles for paying it, or get some other good offer.

Most miles and points programs will cancel all of your miles or points if you do not have activity on your account for a certain period of time (usually 1½ - 3 years), and the trend is that this time period is getting shorter. So, charge something on the card so that it will post on the last statement before you close the account, thus giving you activity on your miles or points account as late as possible.
Before the fee is posted on the account, call customer service to see if you can wait until you see the fee on your bill before you decide to pay it. Most credit card companies will allow you to cancel the card and will refund the fee within 30 or so days of its posting. Find out that time limit. I call about 10 months after receiving the card, as sometimes I am offered a multiple miles/$1 spent for a month or so, just for keeping the card. Then I cancel it anyway.

If you can wait for the fee to post, do so, and call to cancel just before your deadline. By that time miles for renewal may have been sent to your airline, and may not be retrieved if you cancel.
Call the customer service number and tell them you do not want to pay the fee. They will send you to a special unit that will try to convince you to keep the card. Be politely insistent that you will not pay the fee. Wait for the offer you want - miles and/or no fee. Expect to be offered a not very useful free card that offers 1 mile per $2 spent. Refuse this, telling them that you can get a free card with 1 mile per $1 spent. (Be ready with the names of some, which you can find on my Free Cards Page. The Starwood card is always a good one to mention.) Your success will depend on how valuable a customer they think you are. Don't bluff. Be prepared to allow the card to be cancelled if you don't get what you want.

For many cards, it is possible to cancel them, wait awhile, then get them again, with the up front bonus again.

Make 50,000 Points Worth $500 Cash, $625 in Airfare

Here’s another bonus worth $500+ for all you freelancers, consultants, and small business owners out there (even if you don’t even know it). The Chase Ink Bold with Ultimate Rewards is offering 50,000 bonus points after spending $5,000 in the first 3 months your account is open. There is no annual fee for the first year, $95 after that. Also earn 5 points for every dollar on everyday business expenses on up to $50,000 in purchases.

Many people aren’t aware of the fact that they can apply for business credit cards, even if they are not a corporation or LLC. Why? Because any individual can be a business as well. The business type is called a sole proprietorship.

Costco $10 Bonus For Auto-Paying Wireless Bill with American Express

Costco and American Express have a promotion where you can earn a $10 Costco Cash Card when you enroll on their page and then sign up to pay your wireless phone bill automatically with any American Express card. All wireless providers distributed by Costco are eligible: AT&T, T-Mobile, Verizon Wireless, Sprint and Alaska Digitel.

To receive a $10 Costco Cash Card, enroll any eligible American Express Card by filling out the information below. Then, sign up to pay your eligible wireless bill automatically on the same American Express Card – it’s as simple as that. Automatic bill payment is a convenient solution that helps ensure that your bills get paid on time every time. Plus, you can earn rewards if your Card is enrolled in a rewards program. Offer good from now until March 31, 2012.

I remember seeing this promotion in the past before, but you had to use the Costco AmEx card, whereas this promotion works for all AmEx cards.

Slate® from Chase (0% APR card) - Make money for 15 months!

No Balance Transfer Fee!*
0% Intro APR for 15 months on purchases and balance transfers
Transfer your higher rate balances during the first 30 days your account is open and you will pay no balance transfer fee!
After the first 30 days, the fee for future balance transfers is 3% of the amount transferred with a minimum of $5
Avoid interest on everyday purchases
Pay down your balance faster
Zero liability on unauthorized purchases*
No Annual Fee*

https://applynowdc1.chase.com/FlexAppWeb/renderApp.do?SPID=DTRL&CELL=6H8X&AFFID=6VB_mJFwb_0-E7t4Y9qeF6f42lsyEE7asQ&pvid=1126570d2012840269232161541b19

Free Sony E-Reader WiFi with Sony MasterCard!

This is a limited time promo for a free e-reader w/ wifi that Sony Mastercard is offering. To get the free e-reader w/ wifi ($150 value), simply sign up for the no annual fee Sony MasterCard and make 5 qualifying purchases before May 31, 2012. A qualifying purchase is basically anything that is not a cash advance or a return.

This limited time promo is available until March 15, 2012.


The Sony Card Benefits :
Earn 2,000 BONUS Sony Points†† after your first qualifying purchase.
Earn DOUBLE Sony Points‡ with every qualifying purchase of Sony products at store.sony.ca or the Sony store
Earn Sony Points‡ with every qualifying purchase made on your SonyCard MasterCard credit card
Redeem Sony Points toward any Sony product online at store.sony.ca. Choose from the latest in audio, video, gaming and more
No annual fee
1.99% annual interest rate† (AIR) on balance transfers*, access cheques and deposits* for the first 6 full months
Enjoy free online access to your credit card account
Access unparalleled 24-hour customer service
Enhanced security and protection with Chip & PIN technology and PayPass

25000 Continental Airlines miles offer is back

I am pleased to blog that the 25,000 miles offer on Continental Airlines is back from Chase. Now you can get 10,000 Continental Airlines miles when you open a Chase Checking account and and make 5 debit card purchases or set up direct deposit.
And 15,000 additional Continental Airlines miles after the first qualifying purchase is made with your Chase Continental Airlines Preferred Debit Card or Chase Continental Airlines Debit Card. Besides these bonus miles, you can always earn 1 mile/$1 spent in qualifying purchases with the Chase Continental Airlines Preferred Debit Card for a $65 annual fee per checking account, or 1 mile/$2 spent in qualifying purchases with the Chase Continental Airlines Debit Card, for a $25 annual fee per checking account.
The other advantage of this offer is that you can check your first bag without ever paying a fee (a $30 round trip savings).
The catch is that there is a limit one personal checking account-related reward per customer, per calendar year. So maybe we can open another checking account for a bonus next year? Be careful however and read the terms and conditions to understand what else you must do to get the miles like the direct deposit catch. There is a similar offer for a business checking account, but it requires purchase of the $65/year Chase Continental Airlines Business Debit Card. Please note that this offer valid through September 30, 2010. Be sure you understand the early closing fee and how to avoid monthly fees for your checking account associated with these cards.

$100 statement credit from American Express

Here is an offer you can show your friends what the Blue Cash® Card from American Express can do for them, and you can earn a $25 Statement Credit for each friend approved. If you refer four friends and they are approved for the Card through this offer, you will earn a total of a $100 Statement Credit.

Earning a referral bonus is simple:

•Fill out the quick online form to recommend your Card to as many friends as you wish
•You can earn a $25 Statement Credit for each friend approved for the Card

Your friends can enjoy the same benefits as you:

•Earn up to 5% cash back on your purchases(3)
•0% intro APR on purchases for 6 months
•No annual fee