{"id":4290,"date":"2023-10-04T14:34:29","date_gmt":"2023-10-04T14:34:29","guid":{"rendered":"https:\/\/mer.tours\/heres-why-you-should-never-close-your-credit-cards-before-the-1-year-mark\/"},"modified":"2023-10-04T14:34:30","modified_gmt":"2023-10-04T14:34:30","slug":"heres-why-you-should-never-close-your-credit-cards-before-the-1-year-mark","status":"publish","type":"post","link":"https:\/\/travelaffiliatewebsite.com\/mer\/heres-why-you-should-never-close-your-credit-cards-before-the-1-year-mark\/","title":{"rendered":"Here\u2019s why you should never close your credit cards before the 1-year mark"},"content":{"rendered":"

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One of the biggest mistakes I see people making when they begin their points and miles journey<\/a> is to rapidly open tons of travel rewards credit cards<\/a> without any plan for what they’re going to do with them. Some cards might entice you with a large welcome bonus, and others will be long-term keepers, but it’s possible that after 11 months of using the card and experiencing its benefits, you might change your mind about it and cancel the credit card before the annual fee is due.<\/p>\n

So then, is it fine to cancel a credit card before a first account anniversary? And how can opening and closing credit cards for rewards affect your credit<\/a>?<\/p>\n

This is one of the most common questions we receive, especially right now, as people are still looking to minimize their out-of-pocket costs as they feel the financial strain due to due to rising costs and higher interest rates.<\/p>\n

The answer is worth repeating loud and clear: Never, under any circumstances, should you close a credit card less than one year after opening it. <\/strong>While it is possible to do so, there are many reasons why canceling a credit card before the annual fee is due is a bad idea.<\/p>\n

Let’s start with some of the consequences you might expect if you do this.<\/p>\n

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