If you churn credit cards  ( which is the process of making the minimum spend in a short period of time to get the Bonus points or miles ) you will usually be closing your credit card along time before it renews to its second year ( so you can start your next churn! )

If the credit card has a Annual fee , then you actually don’t use it for the full year , your provider might refund pro rata the difference. Some providers just refund the full amount!

Successes 

  • Bank : NAB
  • Card : Signature Qantas
  • Fee : Refunded Pro Rata 195$
  • Bank : ANZ
  • Card : Frequent Flyer Black
  • Fee : nnual Feed Waved Entirely
  • Bank : Citibank
  • Card : Premier Qantas
  • Fee : Fee Refunded Pro Rata 175$
  • Bank : Westpac
  • Card : Rewards Black
  • Fee : Fee Refunded Pro Rata 200$
  • Bank : Amex
  • Card : Gold
  • Fee : Downgraded to a no fee card  to get a pro-rata refund – I cancelled the no fee card a month later

 

How to do it

  • On closure of the credit card while calling the provider to cancel you can ask

    “Is it possible to have the annual fee waived pro-rata?”

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