Cancel Credit Card after Churning Points to Avoid Annual Fee?

pr0o on 19/04/2024 - 19:30
Last edited 20/04/2024 - 10:23 by 1 other user

Hey guys, I applied for this NAB Rewards offer.

I spent $1000 and I can see points in my NAB Rewards (125k points). I think it will be redeemed to Velocity frequent flyer in 10 days, right? I have setup auto redemption.

I wanted to ask if I can cancel my NAB card after redemption to Velocity. Will that effect my points in any way?

Has anyone done this to avoid $95 annual fee?

Thanks!

• 

  Emphasise on 19/04/2024 - 19:41

  +1

  Some banks do it, some don't, your luck will vary. With Westpac I was able to get the fee refunded even after getting points. You usually have to frame it a certain way. Have a look at this video for some tips (1:50 time stamp).

  • 

    minty on 19/04/2024 - 21:19

    +1

    (oops wrong person) The pro-rata refund is a neat idea I've never thought of this, thanks for sharing.

    Used to have my Westpac Black (not sure if it's still called the same)'s $295 waived every year just by calling up, always assumed the generosity was tied to spending but that stopped working a few years ago unfortunately, last effort they halved it then none at all the subsequent year.

• 

  MELso on 19/04/2024 - 19:45

  +3

  Once the points autosweep, you can cancel the card. If the annual fee hasn't hit, so much the better, although NAB won't refund if it has.

• 

  askbargain on 19/04/2024 - 19:47

  +1

  did this and wondered why i didn't get charged annual fee