Will credit card annual fee be refunded if cancelled shortly after getting signup bonus?

Apologies, if this has been asked before but I couldn’t find anything relevant when I did a search.

If I was to sign up for a credit card which has an offer for points and then cancel it after I get the points, will they refund the card annual fee? When is the card annual fee normally charged and does this affect my credit rating in any way?

there is no way they would refund an annual fee. you can’t get all the bonus points for nothing.

I am aghast you even asked such a silly question.

Fee is due when the 1st statement posts, no way you can get out of it.

Some card providers like Amex used to offer pro-rata refund on annual fee if cancelled within 3 months of annual fee.

Not sure whether they still do it. I do not recommend it personally but each to their own.

Good luck.

There’s no chance you’ll get a refund of the annual fee once you’ve received the points. I can think of two circumstances where you might get a refund:

  • If you have not yet collected the sign-up bonus points (ie. if you cancel the card before you've met the spend criteria required to get the points).
  • If you're a loyal customer of several years' standing and you call and ask to cancel the card because you don't want to pay the annual fee (I've personally had the next year's annual fee waived for me under those circumstances on three occasions).

Hi kavi80,

I don’t think you will be able to get the annual fee refunded. I’ve had the HSBC Qantas card, Qantas Premier card, ANZ Qantas frequent flyer card, AMEX Qantas frequent flyer card and NAB Qantas frequent flyer card and all charged the annual fee within the first statement period.

A number of cards did offer the next year free when I called to cancel.