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Navigating Credit Card Changes: Wait or Pay?

Navigating Credit Card Changes: Wait or Pay?

Closing or downgrading a credit card within the first year of opening it can lead to negative consequences, such as losing the welcome offer rewards or damaging your relationship with the card issuer. Some issuers may even "claw back" earned welcome offers or blacklist you from future services. To avoid these issues, it's advisable to keep the card for at least 12 months. If you're concerned about an annual fee, you can usually get a refund if you cancel or downgrade within 30 days of the fee being charged. This strategy allows you to fulfill the card issuer's terms, maintain a good relationship, and avoid additional costs.

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