Quote:
Originally Posted by Language
With regards to the AMEX Platinum Business Card with the 75,000 Amex Miles sign up bonus, is it possible to sign up for the card, put $5,000 on the card, and then cancel within the year so you don't pay the annual fee? I don't really have an interest in paying the $399 annual fee. Does it show up poorly on a credit score if you set up and then cancel a credit card, even if you pay your balances in good standing? Does anyone know if the annual fee is paid immediately or 6-12 months after sign-up?
|
You have to pay the annual fee in the first or second statement.
Cancel a credit card after you have it for over 6 months will not affect your credit score. But if you cancel it with 6 months (especially with 3 months) will have some impact.