james asked in Business & FinanceCredit · 2 months ago

What is your opinion about getting a credit card to get a free flight and then canceling the card because of annual fees?

7 Answers

Relevance
  • 2 months ago

    Read the terms.  If you have the discipline to stay on top of it, you might come out ahead.  The annual fee on this type of card is usually enormous, on par with the free flight.  There are also usually limits on when you can cancel, and how much you must spend before the bonus miles are awarded.  If you cancel at just the right time, you could come out a few hundred dollars ahead.  People who have stellar credit, or who have huge sums to move into other firms, often place a great deal of value on their time, and can't be bothered to keep on top of multiple little teasers such as these.

    • Login to reply the answers
  • Anonymous
    2 months ago

    I opened a checking account at a local bank only for a $400 bonus, I jumped thru their hoops of a $500 ACH deposit every month to avoid fees and after 3+ months, they gave me the $400 bonus.  Then I kept the account open for 3 more months to avoid an early closing fee. Then this week, I cancelled it. The manager wanted to know why and I told him, I use online banks and I take advantage of deals all the time. I have no need for a brick & mortar bank. So I closed the account.

    I used to do credit card deals where they would lend me a large amount via a balance transfer for 6-9 months for zero interest. Id deposit the money and earn interest and always pay it back before it cost me anything.

    Deals are meant to be taken advantage of. But read the fine print.

    • Login to reply the answers
  • 2 months ago

    My opinion is that those who put together promotions such as this are smarter than the people who think they can manipulate the promotion to get something for nothing.  Read the fine print.    

    • Login to reply the answers
  • Anonymous
    2 months ago

    I would do it if I could. Most offers are not enticing, but Amazon had one that offered $70 or maybe $80 off your purchase if you were approved. Sign me up! I'll cancel in a few weeks. I don't mess with annual fees, though.

    • Login to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • Greg
    Lv 7
    2 months ago

    You need to read the contract. I bet you will have to pay the fee to get the flight.

    • Login to reply the answers
  • 2 months ago

    Read the fine print. They’re not going to give you a free flight only to have you cancel the card after getting your free flight. 

    • Login to reply the answers
  • 2 months ago

    Companies who issue credit cards are not dumb.

    • Login to reply the answers
Still have questions? Get your answers by asking now.