New to point hacking, but my understanding is that after the first year you should switch cards to avoid paying the annual fee. But you shouldn’t cancel the card because that will damage credit score. Most banks have a ‘low fee’ card that’s usually $30-$99.
Question is - instead of switching to one of those, can I switch to a card that has a $0 fee first year? or is that usually only for new customers/ does it count as a promotion that is excluded if you’ve held a rewards account in the past 12 or 18months?
Also… how bad is the credit hit for cancelling? is it better to pay $50 for an unused account for a year until the promotional period resets or just cancel?